Streetbeat News

Regulatory

NAMS

NewAmsterdam Pharma (NASDAQ:NAMS) has completed patient enrollment in the Phase 3 BROADWAY clinical trial evaluating obicetrapib, a non-statin medicine for patients at high risk of cardiovascular disease. The trial exceeded its target enrollment of 2,400 subjects due to strong interest, with over 2,500 patients expected to be randomized. Topline data is expected in the second half of 2024. The trial aims to evaluate the effect of obicetrapib on LDL-C levels and other lipid parameters predictive of cardiovascular disease risk.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 8:29 pm

AMRN

Amarin Corporation's drug VAZKEPA has received a positive recommendation from Spain's Drug Pricing Committee for national reimbursement. This marks the final step in the reimbursement process in Spain, following months of negotiations between the Spanish Ministry of Health, regional authorities, and Amarin. The company expects eligible cardiovascular patients to be able to access VAZKEPA under national reimbursement from September 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 8:15 pm

NVO

Novo Nordisk's weight loss and diabetes drugs, Ozempic and Wegovy, are under scrutiny due to reports of causing stomach paralysis in some users. The U.S. Food and Drug Administration (FDA) has received reports of this side effect, and some cases persist even after discontinuing the drugs. Despite these complications, the FDA maintains that the benefits of the medication might still outweigh its risks. The American Society of Anesthesiologists recently warned of the increased risk of patients regurgitating food during surgery due to Novo's medications.

Portfolio Pulse from AJ Fabino

July 25, 2023 | 8:00 pm

KOD

Kodiak Sciences Inc (NASDAQ:KOD) has been downgraded to Neutral from Buy by Chardan Global Insights analyst Daniil Gataulin following the failure of its GLEAM and GLIMMER studies. The studies were part of the company's regulatory and clinical development strategy for tarcocimab tedromer, a novel antibody biopolymer conjugate. As a result, Kodiak has decided to discontinue KSI-301 development. The company's shares are trading lower by 5.07%.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 7:46 pm

APLS

TARS

Tarsus Pharmaceuticals' Xdemvy has been approved by the FDA for Demodex blepharitis. Despite this, Tarsus shares have been under pressure due to concerns over a 10% instillation site stinging and burning adverse event. Analysts from William Blair believe these concerns are overblown and maintain an Outperform rating with a price target of $44. They also note that the weakness in Tarsus shares may be due to cases of eye inflammation and occlusive retinal vasculitis for Apellis Pharmaceuticals' Syfovre.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 7:39 pm

BANC

Trading of Banc Of California's shares has been halted due to pending news.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 7:28 pm

SPY

The Federal Open Market Committee (FOMC) is expected to increase the fed funds rate by 25 basis points in its upcoming meeting, pushing borrowing costs to 5.25-5.5%, the highest since February 2001. Economists are divided on whether this will mark the end of the current rate-hiking cycle. Inflation remains a key factor in shaping the Fed’s decisions. Analysts from Comerica Wealth Management, Bank of America, truflation, and LPL Financial have shared their insights on the potential outcomes of the meeting.

Portfolio Pulse from Piero Cingari

July 25, 2023 | 6:29 pm

GSK

SNY

The Brazilian Parana State has declared an animal health emergency due to cases of bird flu found in wild birds within its territory. This could potentially impact the poultry industry and related businesses.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:25 pm

BATS

BUD

IMBBY

MO

TAP

Zuanic & Associates' cannabis equity research report predicts four key developments in the sector for the next 18 months. The SAFE Banking bill is expected to pass in 2024, potentially leading to federal legalization of cannabis. The TSX is likely to see a wave of listings from multi-state operators, impacting Canadian MJ asset prices. Increased involvement of Consumer Packaged Goods companies in the sector is expected, with British American Tobacco, Imperial Brands, Molson Coors, Anheuser-Busch InBev, and Altria mentioned.

Portfolio Pulse from Nicolás Jose Rodriguez

July 25, 2023 | 6:22 pm

SRFM

Surf Air Mobility has announced that its registration statement for the proposed direct listing of its common stock has been approved. The company's stock will begin trading on the New York Stock Exchange on July 27.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 6:16 pm