Streetbeat News

Regulatory

MRMD

MariMed (OTCQX:MRMD), a Massachusetts-based cannabis company, is hosting the 'Boston 280E THC Party' to protest against Section 280E of the Internal Revenue Code, which prevents cannabis companies from deducting customary business expenses. This results in higher prices for consumers as companies are taxed on their gross profits. The protest will take place on July 12 aboard the Liberty Star schooner at Boston's Central Wharf.

Portfolio Pulse from Vuk Zdinjak

July 11, 2023 | 1:53 pm

MGNX

MACROGENICS, INC. has been granted U.S. Patent #11697684 for tri-specific binding molecules that specifically bind to multiple cancer antigens. The patent was filed on 2/28/2020 and granted on 7/11/2023.

Portfolio Pulse from Charles Gross

July 11, 2023 | 1:52 pm

CURLF

Michigan cannabis producer Golden Shores Cannabis has voluntarily recalled its THC edibles product 'The Weed Bar' due to exceeding permitted THC levels and lacking child-resistant packaging. The recall follows a competitor's steep fine and loss of its medical marijuana processing license for violating over thirty rules. Meanwhile, Curaleaf Holdings and Tempo Crackers are among companies launching new edibles products, despite concerns over increased pediatric exposures to cannabis and abuse of vapes and edibles.

Portfolio Pulse from Jelena Martinovic

July 11, 2023 | 1:52 pm

ADCT

ADIL

BTTX

DSS

GDTC

SYTA

US stocks traded mostly higher with the Dow up 0.40% and the NASDAQ up 0.23%. The NFIB Small Business Optimism Index rose to a seven-month high of 91 in June. CytoMed Therapeutics, Adial Pharmaceuticals, and Better Therapeutics saw significant stock increases, while Siyata Mobile, ADC Therapeutics, and DSS, Inc. experienced drops. The US continues to lead in COVID-19 cases and deaths.

Portfolio Pulse from Lisa Levin

July 11, 2023 | 1:48 pm

BTTX

Better Therapeutics Inc's (NASDAQ:BTTX) shares are trading higher after the FDA approved AspyreRx, a prescription-only digital treatment for type 2 diabetes. The product is expected to launch in Q4 2023. The approval was based on a trial involving 668 participants, which showed significant decreases in HbA1c levels. The company's shares are up 45.60% at $1.31.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 1:40 pm

CING

Cingulate Inc (NASDAQ:CING) shares are trading higher following the announcement of positive topline results from its Phase 3 adult trial of lead candidate, CTx-1301, for attention-deficit/hyperactivity disorder (ADHD). The data showed a significant trend in improving ADHD symptoms. The company plans to initiate its pivotal Phase 3 fixed-dose pediatric and adolescent study this month and a dose-optimization onset and duration trial in pediatric patients in August 2023. Assuming positive results, Cingulate plans to submit a New Drug Application for CTx-1301 in mid-2024.

Portfolio Pulse from Vandana Singh

July 11, 2023 | 1:33 pm

GNPX

Genprex has received Fast Track designation from the FDA for its small cell lung cancer drug candidate. This could potentially expedite the drug's development and review process.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 1:16 pm

PULM

Pulmatrix, Inc. (NASDAQ:PULM) has submitted an investigational new drug (IND) application to the FDA for PUR3100, a drug under development to treat acute migraine. The drug uses Pulmatrix's proprietary dry powder delivery technology, iSPERSE™. The IND includes a Phase 2 clinical protocol to investigate the safety and preliminary efficacy of PUR3100 in patients with acute migraine. Phase 1 study data showed similar pharmacokinetics to intravenous DHE with fewer side effects.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 1:06 pm

BAC

The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America (NYSE:BAC) to pay over $100 million for illegal practices including charging junk fees, withholding credit card rewards, and opening unauthorized accounts. The bank will pay $90 million in penalties to the CFPB and $60 million to the Office of the Comptroller of the Currency (OCC). This is not the first time Bank of America has faced such enforcement action.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 1:00 pm

ANIX

Anixa Biosciences, Inc. (NASDAQ:ANIX) has been granted a Canadian patent for its Chimeric Antigen Receptor-T cell (CAR-T) cancer treatment technology. The technology, which is currently being evaluated for the treatment of ovarian cancer in a Phase 1 clinical trial, has been licensed from The Wistar Institute and is being developed in partnership with Moffitt Cancer Center. The patent covers a nucleic acid that encodes a chimeric protein used to treat certain types of cancer.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 12:51 pm