Streetbeat News

Regulatory

AMGN

The FDA has granted full approval for Amgen's BLINCYTO to treat minimal residual disease-positive B-cell precursor acute lymphoblastic leukemia. The approval is based on additional data from two Phase 3 studies and converts BLINCYTO's accelerated approval to a full approval.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 1:01 pm

NIO

China announced a 520 billion yuan ($72.35 billion) package aimed at increasing auto demand, extending new energy vehicle (NEV) purchase tax exemptions. This has fueled a rally in Chinese EV stocks, including NIO Inc (NYSE:NIO), whose shares are trading higher.

Portfolio Pulse from Adam Eckert

June 21, 2023 | 12:47 pm

DMAC

DiaMedica Therapeutics (NASDAQ:DMAC) has announced a $37.5 million private placement of 11,011,406 common shares at $3.40 per share. The proceeds will be used to fund clinical and product development activities for DM199, including the ReMEDy2 clinical trial. The FDA has also removed the clinical hold on the ReMEDy2 trial.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 12:42 pm

SPY

Federal Reserve Chair Jerome Powell testified before Congress, stating that the Fed remains focused on promoting maximum employment and stable prices. The economy has slowed, and inflation remains above the 2% goal. The Fed has tightened monetary policy, raising interest rates and reducing securities holdings.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 12:41 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the current pause in interest rate hikes is expected to be temporary, as the central bank continues to monitor economic data. This statement may impact the stock market and ETFs like SPY.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 12:39 pm

RCAT

Red Cat Holdings' new military-grade sUAS, the Teal 2, has received clearance from the U.S. Department of Defense (DoD) to be designated as a Blue UAS. The Blue UAS Cleared List is a select group of DoD-approved drones for government users, ensuring they are NDAA compliant, cyber-secure, and safe to fly.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 12:37 pm

MPW

Viceroy Research has obtained a complaint by the United States against Medical Properties Trust (MPW), Olympia Health Care, and Alecto Healthcare, alleging fraudulent payments and undisclosed interests. MPW has not informed investors of this complaint filed on March 9, 2023.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 12:35 pm

LLY

The FDA has approved Jardiance and Synjardy, new oral medicines for children with type 2 diabetes, providing a new class of treatments. The approvals were granted to Boehringer Ingelheim, which has an alliance with Eli Lilly And Co (NYSE:LLY) in diabetes treatment.

Portfolio Pulse from Vandana Singh

June 21, 2023 | 12:32 pm

CRMD

CorMedix announced that the FDA has accepted the resubmission of its New Drug Application (NDA) for DefenCath, a novel system to predict and help prevent adverse food reactions using personal medical data. The patent also describes algorithms to determine safety levels of food ingredients, offering a personalized approach to dietary interventions and safety.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 12:31 pm

VTGN

Vistagen announces favorable safety and tolerability data from its U.S. Phase 1 clinical trial of itruvone (PH10), a rapid-onset pherine nasal spray for the treatment of major depressive disorder (MDD). The results enable Phase 2B development of itruvone in the U.S.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 12:31 pm