Streetbeat News

Regulatory

GILD

Gilead Sciences announced Week 96 results from the MYR301 Phase 3 clinical trial evaluating bulevirtide for chronic hepatitis delta (HDV) infection. The findings demonstrated improved combined response, sustained virologic response, and a consistent safety profile. Bulevirtide is approved for HDV treatment in Europe but not in the U.S.

Portfolio Pulse from Vandana Singh

June 23, 2023 | 2:38 pm

CMPS

CYBN

MNMD

The FDA has issued its first draft guidance on clinical trials for psychedelic drugs, providing researchers with considerations for designing studies to evaluate the safety and effectiveness of these compounds. The guidance covers drugs such as psilocybin, LSD, and MDMA, and aims to help researchers design studies that will yield interpretable results for future drug applications.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 2:33 pm

TSLA

Tesla shares are trading lower by 3.31% to $255.86 amid overall market weakness following Fed Chair Powell's comments suggesting inflationary pressures and further rate hikes expected by the end of the year. Tesla shares have seen a 37% increase over the trailing month due to strength in EV stocks and overall market strength.

Portfolio Pulse from Henry Khederian

June 23, 2023 | 2:25 pm

COIN

The U.S. Supreme Court ruled in favor of Coinbase, allowing the company to halt court proceedings and move customer litigation into arbitration.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 2:13 pm

SBNY

SI

24 Exchange, backed by Steve Cohen's Point72 Ventures, has discontinued its spot cryptocurrency product amid increased regulatory scrutiny. The decision follows a decline in interest and demand after the collapse of FTX and crypto-affiliated entities such as Signature Bank and Silvergate Capital Corp. The trading platform will continue to offer its crypto non-deliverable forward product.

Portfolio Pulse from Murtuza Merchant

June 23, 2023 | 2:12 pm

GOOGL

Google has been fined over $10.63 billion since 2017 by regulators and courts around the world for various violations, including antitrust and anti-competition norms, patent, and privacy violations. Nearly 90% of these fines were imposed by European Union regulators, with the largest fines being $2.7 billion in 2017, $5.1 billion in 2018, and $1.7 billion in 2019.

Portfolio Pulse from Rounak Jain

June 23, 2023 | 2:09 pm

META

Meta is set to temporarily block news content for some Canadian users on Facebook and Instagram in response to the controversial Bill C-18. The test will affect 1-5% of its 24 million Canadian users and may lead to a permanent block if the bill passes. The bill requires tech giants to pay publishers for linking to or repurposing their content online.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 2:09 pm

SPY

VGK

The U.S. Treasury has issued new Russia-related sanctions targeting two Russian individuals. This may have implications for ETFs such as SPY and VGK.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 2:08 pm

BGXX

Bright Green Corporation (NASDAQ:BGXX) is set to join the Russell 3000 Index on June 26, 2023, following the annual reconstitution. The company's recent DEA approval makes it the only publicly traded, federally authorized company in the US.

Portfolio Pulse from Vuk Zdinjak

June 23, 2023 | 1:56 pm

DFS

NAVI

NNI

SLM

SOFI

The US student loan market faces potential disruption as the Supreme Court is set to rule on the Biden Administration's plan to alleviate student debt. Regardless of the outcome, the resumption of federal student loan repayments by the end of August is expected to increase delinquency rates, posing challenges to the market. Bank of America research note highlights potential ripple effects in other debt categories.

Portfolio Pulse from Piero Cingari

June 23, 2023 | 1:51 pm