Streetbeat News

Regulatory

DLTNF

TSX:DN

Delta 9 Cannabis Inc. (OTC:DLTNF) (TSX:DN) plans to expand its distribution and cross-docking business in Manitoba due to changes in wholesale distribution regulations by Manitoba Liquor & Lotteries Corporation. The new regulations, effective from July 31, 2023, will improve lead times for cannabis shipments and allow the company to bring additional cannabis inventory from third-party suppliers into the province. The company expects to increase its revenues from this new growth segment and shorten lead times for deliveries to 3 – 5 business days.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:31 pm

MESO

Mesoblast Limited's (NASDAQ:MESO) shares fell after the FDA required an additional trial for its resubmission of remestemcel-L for pediatric steroid-refractory acute graft versus host disease (SR-aGVHD). The FDA requires more data and Mesoblast will conduct a study in high-risk adults. The company has generated pilot data showing a survival benefit with remestemcel-L in this target population. However, analysts downgraded the stock due to a lack of clarity regarding the path forward for remestemcel-L.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 3:29 pm

ASRT

Assertio Therapeutics reported its Q2 financial results and withdrew its 2023 financial outlook due to the recent approval of a generic indomethacin suppository by the US FDA. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:28 pm

MOBQ

Mobiquity Technologies, Inc. (NASDAQ:MOBQ) has announced a 1-for-15 reverse stock split to maintain compliance with Nasdaq's minimum bid price requirement. The company's common stock will begin trading on a split-adjusted basis from August 7, 2023. Mobiquity had previously received a delist letter from Nasdaq for non-compliance with the minimum stockholders' equity requirement. However, after presenting its plan to regain compliance, the company was granted an extension through November 14, 2023, by the Nasdaq Hearings Panel.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:25 pm

COIN

Coinbase's Chief Legal Officer announced that the company has filed a brief asking the court to dismiss the SEC's case against it.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:25 pm

JNJ

Biosense Webster, a subsidiary of Johnson & Johnson (JNJ), has received FDA approval for multiple atrial fibrillation ablation products to be used in a workflow without fluoroscopy. This approval could potentially increase the demand for Biosense Webster's products.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:24 pm

COIN

Coinbase has argued that the SEC has no authority to pursue its lawsuit against the company because none of the transactions and services it complained about are securities under federal law.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:23 pm

ASRT

Shares of Assertio Holdings Inc (NASDAQ:ASRT) are down after the company withdrew its 2023 financial outlook due to the FDA's approval of a generic version of its drug Indocin by Zydus Lifesciences. Assertio's portfolio includes Indocin suppositories and oral suspension. The company recently reported Q2 sales of $40.99 million, up 13% Y/Y, and an adjusted EPS of $0.19. It also closed the acquisition of Spectrum Pharmaceuticals Inc for $248 million.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 3:23 pm

SPY

USO

VGK

Russia's Deputy Prime Minister Novak has announced that the OPEC+ deal in June has been implemented by more than 100%, with Russia fully committed to the deal.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:22 pm

COIN

Coinbase has clarified that it does not operate as a 'broker' of investment contracts by making wallet software available to users. This comes amid regulatory scrutiny over the role of cryptocurrency exchanges.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:21 pm