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Regulatory

IEI

The US federal deficit has increased by 170% to $1.39 trillion for the nine months through June, according to Treasury Department data. The cost of managing US government debt has risen by 25% to $652 billion in the first nine months of the fiscal year. The rise in interest rates has played a significant role in driving the deficit. The value of US Treasury bonds maturing in the next three to seven years, as monitored by the iShares 3-7 Year Treasury Bond ETF (NASDAQ:IEI), is 10% lower than it was at the beginning of 2022.

Portfolio Pulse from Piero Cingari

July 13, 2023 | 8:13 pm

THRX

Theseus Pharmaceuticals has announced its decision to discontinue enrollment in its Phase 1/2 study and terminate the development of THE-630 for patients with GIST. The company's CEO expressed disappointment as they believed the therapy could have significant clinical benefits.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:09 pm

VTGN

Vistagen Therapeutics (NASDAQ:VTGN) has received a Notice of Allowance from the Canadian Intellectual Property Office for a patent related to the use of AV-101 for reduction of dyskinesia induced by levodopa, a common treatment for Parkinson's disease. The patent, once granted, will not expire until at least 2034. The U.S. Patent and Trademark Office has already granted a related U.S. patent for Vistagen's AV-101. Preclinical data shows AV-101 significantly reduced levodopa-induced dyskinesias without adverse side effects.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:08 pm

CRBU

Caribou Biosciences has reported clinical data from the dose escalation portion of its ANTLER Phase 1 trial. The data shows a 94% overall response rate, a 69% complete response rate, and a 44% complete response rate at 6 months or more following a single dose of CB-010. The longest complete response maintained to date is 24 months. The LBCL patient subgroup had a 50% complete response rate at 6 months or more, with the longest LBCL subgroup complete response maintained to date being 18 months.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 8:02 pm

ATVI

MSFT

PARA

XRPUSD

Charles Gasparino will interview former DOJ Antitrust Chief Makan Delrahim on the Microsoft-Activision Blizzard deal, potential acquisition of Paramount, and the Ripple case.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:54 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares surged higher after a U.S. judge ruled that Ripple (XRP/USD) sales do not constitute an offer of investment contracts. The legal battle between Ripple and the SEC dates back to 2020. Shares of MSTR were up 11.7% at $462.00 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 13, 2023 | 7:54 pm

TRYPF

Tryp Therapeutics' (OTCQB:TRYPF) Investigational New Drug (IND) application has been approved by the FDA, allowing the company to begin Phase 2a clinical trials at Massachusetts General Hospital on the effects of psilocybin-assisted psychotherapy for adults with Irritable Bowel Syndrome (IBS). The company's lead psilocin compound TRP-8803 is currently being assessed in a Phase 2a trial for the treatment of binge eating disorder. Its synthetic oral psilocybin, TRP-8802, will be studied in a Phase 2a trial for the treatment of fibromyalgia and IBS.

Portfolio Pulse from Lara Goldstein

July 13, 2023 | 7:48 pm

ADAUSD

MATICUSD

SOLUSD

XRPUSD

A court ruling in the Ripple vs. SEC case determined that Ripple's sales cannot be classified as investment contracts, sparking reactions from the crypto community. The ruling is seen as a significant win for Ripple and the broader crypto industry. Following the ruling, tokens deemed unregistered securities by the SEC, including Solana, Cardano, and Polygon, posted double-digit gains.

Portfolio Pulse from Murtuza Merchant

July 13, 2023 | 7:45 pm

SQ

XRPUSD

Shares of Block, Inc. (NYSE:SQ) are rising after a U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts. This ruling is likely to impact the entire crypto industry and many companies facing similar legal challenges. SQ shares were up 7.03% at $76.23 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 13, 2023 | 7:29 pm

CELUSD

Alexander Mashinsky, founder and former CEO of Celsius Network (CRYPTO: CEL), has been arrested on charges of securities fraud, commodities fraud, and wire fraud. The charges allege that Mashinsky and the former chief revenue officer manipulated the market for Celsius's CEL crypto token, defrauding customers and misleading them about the company's success. This comes a year after Celsius Network, which managed approximately $25 billion in customer assets, filed for bankruptcy protection. The US has entered into a non-prosecution agreement with Celsius, which has accepted responsibility for its role in the fraudulent schemes.

Portfolio Pulse from Murtuza Merchant

July 13, 2023 | 7:17 pm