Streetbeat News

Regulatory

BDSX

Biodesix, Inc. (NASDAQ:BDSX) has been awarded Advanced Diagnostic Laboratory Test (ADLT) status for its Nodify CDT Test by the Centers for Medicare & Medicaid Services (CMS), effective June 30, 2023. The Nodify CDT test, used in combination with the Nodify XL2 test, helps physicians assess the risk of malignancy of pulmonary nodules. The payment amount for the Nodify CDT test as established by the Medicare Administrative Contractor is $649.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 1:11 pm

BNBUSD

CELUSD

LUNAUSD

The Commodity Futures Trading Commission (CFTC) has found that Celsius Network (CRYPTO: CEL) and its former CEO, Alex Mashinsky, violated U.S. regulations. If the CFTC's commissioners agree, a lawsuit could be filed in federal court. Celsius Network, which collapsed following the downturn of the TerraUSD (CRYPTO: LUNA) token and the crypto market, is accused of misleading investors and failing to register with the regulatory body. Legal action has already been taken against Celsius and Mashinsky, including a lawsuit from New York Attorney General Letitia James.

Portfolio Pulse from Murtuza Merchant

July 06, 2023 | 1:11 pm

ASLN

ASLAN Pharmaceuticals Ltd (NASDAQ:ASLN) released topline data from its TREK-AD Phase 2b study of eblasakimab in adult patients with moderate-to-severe atopic dermatitis. The drug met the primary endpoint in three dosing arms with statistical significance. However, the 400mg Q4W dosing arm did not meet the primary or secondary endpoints. Further data is expected in Q4 2023 and a Phase 3 clinical development program is planned for 2024. ASLN shares were down by almost 14% in the premarket but have since recovered.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 1:09 pm

IGC

IGC Pharma, Inc. (AMEX:IGC) has secured a strategic investment from four funds managed by Bradbury Asset Management and three unrelated investors, resulting in approximately $3 million in gross proceeds. The funds will support the advancement of the company's phase-2 clinical trial of IGC-AD1, a drug candidate designed to address agitation in dementia caused by Alzheimer's disease. The private placement is subject to approval by the NYSE and will involve the issuance of ten million shares of unregistered common stock at $0.30 per share.

Portfolio Pulse from Vuk Zdinjak

July 06, 2023 | 1:06 pm

DFLI

Dragonfly Energy has been granted a U.S. patent for its nonflammable LiFePO4 storage batteries. This development could potentially enhance the safety and efficiency of energy storage systems.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:02 pm

SPY

U.S. Treasury Secretary Yellen is in Beijing to seek healthy economic competition and communicate to avoid misunderstanding. She also stated that action will be taken to protect national security when needed.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 1:00 pm

ADP

UUP

The U.S. job market continues to tighten with private employers adding 497,000 jobs in June, significantly beating expectations of 220,000, according to the ADP National Employment Report. However, weekly jobless claims rose slightly from 239,000 to 248,000. Following the release of this data, traders increased their forecasts for the Federal Reserve's impending rate hikes. The U.S. dollar rallied, erasing session losses, and Treasury yields spiked. Futures on the S&P 500 Index and the Nasdaq 100 Index dipped ahead of the Wall Street opening bell.

Portfolio Pulse from Piero Cingari

July 06, 2023 | 12:54 pm

SPY

Federal Reserve official Lorie Logan has stated that the housing market may have reached its lowest point, and that the risk in the commercial real estate (CRE) sector is being monitored. She also mentioned that the rebuilding of the Treasury account is likely to come from overnight reverse repo operations, and that the outlook for the Fed's balance sheet should not affect the rate outlook. A rebound in the housing sector could potentially threaten progress.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 12:54 pm

SPY

Federal Reserve's Logan stated that the challenging and uncertain environment led to a pause in June. He emphasized the importance of the Fed delivering on its June rate outlook projections and noted that the process of rebalancing the economy is slower than expected.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:49 pm

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