Streetbeat News

Regulatory

RMED

Ra Medical Systems, Inc. (NYSE:RMED) is expanding its international distribution in anticipation of the receipt of the CE Mark for its new device, LockeT, expected in Q3 2023. The company has entered into a distribution agreement with Medilynq for the Middle East and is working with Bioline in Spain. RMED is also in the process of working toward agreements in Mexico, Peru, Chile, Brazil, Australia, Hong Kong, Thailand, and Malaysia.

Portfolio Pulse from Happy Mohamed

July 03, 2023 | 12:03 pm

DERM

Journey Medical Corporation (NASDAQ:DERM) announced that it expects topline results from the Phase 3 clinical trials evaluating DFD-29 for the treatment of moderate to severe papulopustular rosacea to be announced the week of July 10, 2023. The trials are expected to support a New Drug Application submission in the United States and a Marketing Authorization Application in Europe. DFD-29 is being developed in collaboration with Dr. Reddy's Laboratories Ltd.

Portfolio Pulse from Happy Mohamed

July 03, 2023 | 12:02 pm

META

WhatsApp, owned by Meta Platforms Inc (NYSE:META), has banned over 6.5 million accounts in India in May, in line with the new IT Rules 2021. The company had proactively banned 2.42 million of these accounts before receiving any user reports. In April, WhatsApp banned over 7.4 million problematic accounts. The company also introduced QR code chat transfer support for its users.

Portfolio Pulse from Shomik Sen Bhattacharjee

July 03, 2023 | 11:57 am

XXII

22nd Century Group, Inc plans to effect a reverse stock split of its outstanding shares at a ratio of 1-for-15 to regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on Nasdaq. The company's shares will begin trading on a reverse stock split-adjusted basis on July 5, 2023. Following the news, XXII shares are trading lower by 29% in premarket.

Portfolio Pulse from Shivani Kumaresan

July 03, 2023 | 11:42 am

DWAC

Digital World Acquisition Corp. (NASDAQ:DWAC), the SPAC set to merge with Donald Trump’s Truth Social platform, saw gains in premarket trading on Monday. The uptick comes as rival social media platform Twitter faced backlash for limiting unregistered users’ access to tweets, creating an opportunity for Truth Social to attract disgruntled users. However, Digital World faces regulatory scrutiny and challenges in finalizing its merger with Truth Social, with recent insider trading allegations adding to its troubles.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 11:38 am

TRSSF

TerrAscend Corp. (OTCQX:TRSSF) (CSE:TER) has agreed to acquire Herbiculture Inc., a medical dispensary in Maryland, for $8.25 million. This acquisition will bring TerrAscend's total dispensaries in Maryland to four, the maximum allowed in the state. The company expects the transaction to be immediately accretive to its EBITDA and cash flow. The deal has been approved by the Maryland Cannabis Administration and is expected to close soon.

Portfolio Pulse from Vuk Zdinjak

July 03, 2023 | 11:35 am

BCHUSD

BLK

Bitcoin Cash (CRYPTO: BCH) surged 156% in June, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). This surge was influenced by BlackRock Inc's (NYSE:BLK) application for a Bitcoin spot ETF with the SEC and the launch of EDX Markets. The upward trend was partly fueled by a short squeeze and an unexpected volume spike on the South Korean exchange, Upbit.

Portfolio Pulse from Mehab Qureshi

July 03, 2023 | 11:21 am

KRYS

Krystal Biotech has initiated its Phase 1 CORAL-1/US study of KB407 for Cystic Fibrosis, with the first patient being dosed. The primary focus of the study will be the safety and tolerability of nebulized KB407, with data expected in 2024.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2023 | 11:04 am

NLSP

NLS Pharmaceutics has received approval from the FDA and IRB to proceed with Phase 3 clinical trials for Mazindol ER, a treatment for narcolepsy.

Portfolio Pulse from Bill Haddad

July 03, 2023 | 11:02 am

AAPL

GS

TSLA

UAL

Over the weekend, Tesla reported record Q2 deliveries, Twitter implemented limitations on daily tweet reads, Florida Governor Ron DeSantis' net worth increased significantly due to book royalties, a controversial alimony law was signed in Florida, and US Treasury Secretary Janet Yellen is set to visit China. Reports also suggest that Goldman Sachs is considering ending its consumer lending operation with Apple, and United Airlines is compensating passengers affected by delays and cancellations with frequent flyer miles.

Portfolio Pulse from Benzinga Newsbot

July 03, 2023 | 10:51 am