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Regulatory

SPY

Federal Reserve's Logan has expressed that he would have been comfortable with a rate increase in June. He also stated that more rate hikes are likely necessary and expressed concern over whether inflation will cool quickly enough.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:48 pm

IXHL

Incannex Healthcare Limited (NASDAQ:IXHL) has received approval from Bellberry Human Research Ethics Committee to commence a bioavailability/bioequivalence clinical trial on IHL-42X, its proprietary drug for treatment of obstructive sleep apnoea. The trial will include 116 participants and will be managed by Novotech. The results will be a critical component of future marketing submissions for IHL-42X. The trial will run in parallel to the pivotal Phase 2/3 trial.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:44 pm

SPY

The US May Trade Balance has been reported as $69.00B, which is in line with the estimated figure.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:31 pm

KZIA

Kazia Therapeutics has received FDA fast track designation for its lead program, Paxalisib, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:29 pm

MP

MP Materials Corp. (NYSE:MP) shares traded higher after China announced restrictions on germanium and gallium, lifting rare earth metals companies outside of China. There were 4x more calls than puts on MP Materials on Wednesday, with traders expecting the shares to surge at least 30% by December. MP Materials shares rose 6% to close at $24.55 on Wednesday, and added 2.7% in today’s pre-market trading session.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 12:26 pm

SPY

CNBC's Jim Cramer expressed caution about the current market rally, stating that he doesn't 'like the feel' of it. His comments come as the Nasdaq Composite and S&P 500 Index reach 15-month highs. The market is showing resilience despite economic and geopolitical challenges, but the Federal Reserve's hawkish minutes have triggered a global market plunge, raising concerns about a potential market retreat in the U.S. Upcoming economic data releases and the Federal Reserve meeting on July 25 and 26 will heavily influence market sentiment.

Portfolio Pulse from Shanthi Rexaline

July 06, 2023 | 12:17 pm

VXRT

Vaxart, Inc. (NASDAQ:VXRT) announced positive preliminary topline data from the Phase 2 clinical trial of its oral pill bivalent norovirus vaccine candidate. The vaccine met all primary endpoints, showing robust serum immune responses across all doses. The company expects topline data from Phase 2 GI.1 challenge study in Q3 2023. The data will inform dosage levels in a larger Phase 2b study and support an End-of-Phase 2 meeting with the FDA.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:08 pm

AMZN

GOOGL

Google, a subsidiary of Alphabet Inc, has accused the Competition Commission of India (CCI) of favoring Amazon.com Inc, and has approached the Supreme Court of India to quash a regulatory order. The order would force Google to make significant changes to its business model, including allowing the distribution of modified versions of Android without licensing restrictions. Google alleges that the CCI used Amazon's complaint about its restrictions on Fire OS as a basis for its order. Google has faced similar challenges in South Korea and Europe, and continues to fight the penalty in India's Supreme Court.

Portfolio Pulse from Arpit Nayak

July 06, 2023 | 12:06 pm

HZNP

Horizon Therapeutics (NASDAQ:HZNP) has published long-term data from the MIRROR randomized controlled clinical trial of KRYSTEXXA injection with methotrexate in ACR Open Rheumatology. The 12-month data reinforces key findings shown at Month 6, including the durability of urate-lowering response, reduced infusion reactions, and reduced immunogenicity of pegloticase when co-administered with methotrexate. The patient response rate remained nearly 30 percentage points higher with methotrexate co-therapy during Month 12.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:04 pm

AKTX

Akari Therapeutics, Plc (NASDAQ:AKTX) has received a positive opinion from the European Medicines Agency (EMA) on its application for orphan drug designation for nomacopan, a treatment in hematopoietic stem cell transplantation. The company is currently conducting a Phase 3 clinical trial of nomacopan in pediatric HSCT-TMA.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:03 pm