Streetbeat News

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Citigroup and Deutsche Bank have admitted to sharing sensitive information on the pricing of UK government bonds, considered anti-competitive activity. Britain's Competition and Markets Authority has also slammed HSBC, Morgan Stanley, and Royal Bank of Canada, but these banks have not admitted wrongdoing.

Portfolio Pulse from Nabaparna Bhattacharya

May 24, 2023 | 2:42 pm

HUMA

Humacyte has sponsored an observational study to evaluate the safety and efficacy of its HAV for arterial replacement or reconstruction in Ukrainian patients with life or limb-threatening vascular trauma.

Portfolio Pulse from Charles Gross

May 24, 2023 | 2:37 pm

GTHX

G1 Therapeutics has sponsored a trial for Trilaciclib vs Placebo in patients with extensive stage small cell lung cancer (ES-SCLC) receiving Topotecan. The trial is not yet recruiting and is posted on ClinicalTrials.gov.

Portfolio Pulse from Charles Gross

May 24, 2023 | 2:34 pm

PTCT

PTC Therapeutics' stock tumbles after the company reported that its MOVE-FA trial of vatiquinone in Friedreich ataxia patients failed to meet its primary endpoint. The company also discontinued preclinical and early research programs in gene therapy as part of a strategic portfolio prioritization.

Portfolio Pulse from Vandana Singh

May 24, 2023 | 2:34 pm

SRPT

The FDA has extended its review of Sarepta Therapeutics' SRP-9001 gene therapy for Duchenne muscular by a few weeks, with a new review date set for June 22. The agency is working towards potentially granting accelerated approval for SRP-9001, initially for use in Duchenne patients ages 4-5 years old. Sarepta's stock price has dropped 9.44% to $133.

Portfolio Pulse from Vandana Singh

May 24, 2023 | 2:29 pm

KBE

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SPY

XLF

U.S. Treasury Secretary Janet Yellen emphasizes the importance of maintaining a diverse banking sector, stating that greater concentration among the largest banks is not desirable.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:29 pm

SPY

U.S. Treasury Secretary Yellen announced that President Biden has proposed changes that will result in $1 trillion in deficit reduction. She also stated that payment prioritization is not operationally feasible.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:26 pm

SPY

U.S. Treasury Secretary Janet Yellen warns that even in the run-up to a possible default, there will likely be substantial financial market distress.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:25 pm

SPY

U.S. Treasury Secretary Yellen warns that the U.S. is highly likely to run out of sufficient cash by early June if Congress doesn't act to raise the debt ceiling. President Biden's commitment to avoid default is crucial.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:23 pm

SPY

U.S. Treasury Secretary Yellen warns that the Treasury may run out of cash as soon as June 1, making it difficult to predict the exact day resources will be depleted. She believes a deal is possible to avoid debt limit default.

Portfolio Pulse from Happy Mohamed

May 24, 2023 | 2:21 pm