Streetbeat News

Regulatory

BMEA

Biomea Fusion, Inc. (NASDAQ:BMEA) saw its stock drop by 60.3% pre-market after the FDA imposed a full clinical hold on its Phase I/II trials for BMF-219, a diabetes treatment, due to concerns over potential drug-induced hepatotoxicity. Despite the hold, the company will continue to gather safety and efficacy data.

Portfolio Pulse from Benzinga Neuro

June 07, 2024 | 10:20 am

F

VWAGY

Republican lawmakers have called for a ban on Chinese battery suppliers CATL and Gotion High-Tech, which are connected to Ford and Volkswagen, over forced labor allegations. They have urged the Biden administration to add these companies to the import ban list under the Uyghur Forced Labor Prevention Act. This comes amid new tariffs on Chinese EV batteries and other products.

Portfolio Pulse from Anan Ashraf

June 07, 2024 | 10:03 am

EWU

The mortgage rate in the UK has been revised to 7.92% from the previously reported 7.93%.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 9:11 am

STI

Solidion Technology has received a notice from Nasdaq for a delayed quarterly filing. The company has 60 days to submit a compliance plan, and if accepted, may get up to 180 days to regain compliance. However, there is no assurance that these events will occur.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 7:08 am

HCM

HUTCHMED has initiated a Phase I clinical trial for its Menin inhibitor HMPL-506, targeting hematological malignancies in China. The trial will assess safety, pharmacokinetics, and efficacy, involving at least 60 patients.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 6:55 am

BNBUSD

Former federal agents and prosecutors are urging U.S. Secretary of State Antony Blinken to take action for the release of Tigran Gambaryan, Binance's head of compliance, who is detained in Nigeria. This comes amid escalating tensions between Binance and the Nigerian government, which has imposed a $10 billion penalty on the company.

Portfolio Pulse from Aniket Verma

June 07, 2024 | 6:17 am

GERN

The FDA has approved Geron's RYTELO (imetelstat), a novel telomerase inhibitor, for treating lower-risk MDS in adults with transfusion-dependent anemia. The approval covers patients ineligible for or relapsed/refractory to ESA, regardless of ring sideroblast status. The IMerge Phase 3 clinical trial showed durable and sustained red blood cell transfusion independence, increased hemoglobin levels, and reduced transfusion burden. Common adverse reactions were manageable and short-lived. Geron will hold a conference call on June 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 5:53 am

INDA

The Reserve Bank of India (RBI) has decided to keep the interest rate unchanged at 6.50%. This decision is likely to have implications for various sectors and markets, including ETFs that have exposure to Indian equities.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 4:38 am

BTCUSD

DOGEUSD

ETHUSD

Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, retreated as investors awaited key U.S. labor market data. Bitcoin faced resistance at $71,500, while Ethereum dropped below $3,850. The market is anticipating the nonfarm payrolls report, which could influence future rate cuts by the Federal Reserve.

Portfolio Pulse from Aniket Verma

June 07, 2024 | 2:05 am

ABDE

Edward Snowden supports Richard Stallman's warnings about proprietary software following backlash against Adobe Inc. (NASDAQ:ABDE) for its new terms and conditions, which allow content review by automated and manual methods. This has led to calls for professionals to cancel their Adobe subscriptions.

Portfolio Pulse from Ananya Gairola

June 07, 2024 | 2:01 am