Streetbeat News

Regulatory

TCBP

TC BioPharm has been granted a European patent for the use of modified gamma delta cells in treating cancer and viral indications. This development could enhance their therapeutic offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:51 pm

MSOS

The DEA has delayed the rescheduling of marijuana, pushing the decision potentially past the 2024 election. Congressman Blumenauer expressed disappointment but remains hopeful for future cannabis policy changes. The news led to a significant drop in the AdvisorShares Pure US Cannabis ETF (NASDAQ:MSOS).

Portfolio Pulse from Jelena Martinovic

August 28, 2024 | 5:43 pm

HKMPF

JAZZ

Jazz Pharmaceuticals and Hikma Pharmaceuticals are facing allegations of delaying a generic version of Jazz's narcolepsy drug, Xyrem, to maintain high prices. The case will proceed to trial, with claims of antitrust violations and price increases. Jazz denies the allegations, citing regulatory approval of its distribution strategy.

Portfolio Pulse from Vandana Singh

August 28, 2024 | 5:37 pm

JNJ

The American Hospital Association (AHA) is urging the Health Resources and Services Administration (HRSA) to take enforcement action against Johnson & Johnson (J&J) for changing its 340B Drug Pricing Program model. J&J plans to replace upfront discounts with a rebate model for drugs like Stelara and Xarelto, potentially impacting hospital finances and patient access.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:33 pm

LOW

Lowe's is reducing its Diversity, Equity, and Inclusion (DEI) policies, aligning with other companies that have modified their programs following the U.S. Supreme Court's decision against affirmative action in college admissions or due to conservative backlash.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:31 pm

WTO

UTime Ltd (NASDAQ:WTO) shares plummeted 93% after announcing a non-disclosure agreement for acquiring Bowen Therapeutics' lab, aiming to expand into the vaccine market. The acquisition focuses on developing an mpox vaccine, but the deal is pending negotiations and regulatory approvals.

Portfolio Pulse from Henry Khederian

August 28, 2024 | 5:09 pm

NIO

NIO Inc shares are down 7% due to concerns over industry-wide challenges after Li Auto's revenue miss and weak guidance. Investors fear similar issues for NIO, including reduced margins and competitive pressures in the Chinese EV market.

Portfolio Pulse from Henry Khederian

August 28, 2024 | 5:00 pm

ADAUSD

Cardano's 'Chang' hard fork, a major network upgrade, has been delayed until September 1st. This upgrade will introduce on-chain governance, allowing ADA holders to participate in decision-making. The delay is to give exchanges more time to prepare.

Portfolio Pulse from Murtuza Merchant

August 28, 2024 | 4:59 pm

ETHUSD

Ethereum co-founder Vitalik Buterin has expressed his strong belief in Ethereum (ETH) as a store of value, revealing that 90% of his net worth is in ETH. This statement addresses the Ethereum team's hesitance to promote ETH's monetary aspects, possibly due to regulatory concerns. Buterin's stance highlights his confidence in Ethereum's long-term value, despite the development team's focus on its technological aspects.

Portfolio Pulse from Murtuza Merchant

August 28, 2024 | 4:46 pm

ACIU

AC Immune's shares rose following the FDA Fast Track designation for the PI-2620 Tau-PET Diagnostic, developed with partner Life Molecular Imaging, for three neurodegenerative conditions.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 4:30 pm