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The US government is considering new restrictions on the export of AI chips to China, which could impact Nvidia and other chipmakers. The ban could prevent these companies from shipping their products to China without a license. This news has led to a decline in the shares of US chipmakers, including Nvidia, Advanced Micro Devices, Marvell Technology, and ON Semiconductor. The VanEck Semiconductor ETF, Global X Robotics & Artificial Intelligence ETF, and Pacer Data and Digital Revolution ETF are also expected to see volatility. The US is also considering limiting the leasing of cloud services to Chinese AI companies, which could impact Amazon and Microsoft.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 12:55 pm

DAL

JBLU

UAL

United Airlines CEO Scott Kirby blamed the FAA for exacerbating flight disruptions caused by recent storms, which led to thousands of flight cancellations. Kirby claimed that the FAA's air-traffic-control issues and staffing shortages led to a chain reaction of delays and cancellations. United, JetBlue, and Delta Air Lines all had to cancel a significant percentage of their flights due to the weather conditions.

Portfolio Pulse from Akanksha Bakshi

June 28, 2023 | 12:49 pm

MSTR

Microstrategy Inc has acquired approximately 12,333 Bitcoins for about $347M in cash between April 29 and June 27, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:47 pm

JAGX

Napo Pharmaceuticals, a subsidiary of Jaguar Health, Inc. (NASDAQ:JAGX), has submitted an Investigational New Drug (IND) application to the FDA for a new formulation of crofelemer powder for oral solution for the treatment of microvillus inclusion disease (MVID). The disease is a life-threatening and ultra-rare autosomal recessive disease that affects newborns and children. Crofelemer has been granted Orphan Drug Designation (ODD) by the FDA and the European Medicines Agency (EMA) for MVID and short bowel syndrome (SBS).

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:39 pm

RSLS

ReShape Lifesciences Inc. (NASDAQ:RSLS) presented data on its proprietary Diabetes Bloc-Stim Neuromodulation (DBSN) device at the ASMBS 2023 Annual Meeting. The device selectively modulates vagal block and stimulation to the liver and pancreas to manage blood glucose. The company's CEO, Paul F. Hickey, stated that the DBSN device has the potential to deliver personalized therapy by adjusting insulin production, thus potentially reducing dependence on medication.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:38 pm

CLRB

Cellectar Biosciences, Inc. (NASDAQ:CLRB) presented interim data from its ongoing study of iopofosine I 131 in multiple myeloma at the SNMMI Annual Meeting. The data showed an overall response rate of 28%, a clinical benefit rate of 70%, and a disease control rate of 92% in 64 evaluable patients. The company's COO, Jarrod Longcor, highlighted the outcomes from two dose levels across these highly refractory patients. The FDA has granted Fast Track and Orphan Drug Designations for iopofosine in patients with r/r MM.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:37 pm

GNPX

Genprex has received Fast Track Designation from the U.S. FDA for its REQORSA immunogene therapy. The therapy, used in combination with Tecentriq, is for the treatment of small cell lung cancer.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:35 pm

NVDA

OPK

TOVX

Theriva Biologics' VCN-01 has been granted Orphan Drug Designation by the U.S. FDA, causing TOVX's stock to rise by 87%. Pfizer's NGENLA™, a treatment for Pediatric Growth Hormone Deficiency, has been approved by the FDA, leading to a 32% increase in OPK's stock. Meanwhile, NVDA's shares have dropped by 5% due to reports of the U.S. planning to revise its export controls on AI chips to limit China's access to advanced technologies with military applications.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:34 pm

INBS

Intelligent Bio Solutions Inc. (NASDAQ:INBS) has received guidance from the U.S. FDA on the regulatory classification of its Intelligent Fingerprinting Drug Screening Cartridge. The FDA has provisionally determined that the cartridge falls within a Class II type device that requires the submission of a pre-market notification 510(k) and the FDA's clearance prior to marketing. This provides a clear regulatory pathway for INBS's expansion into the United States.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:33 pm

BIOR

Biora Therapeutics has been granted several new patents by the European Patent Office and the U.S. Patent and Trademark Office. These patents are related to the treatment of diseases of the gastrointestinal tract using various inhibitors and agents released using an ingestible device.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:33 pm