Streetbeat News

Regulatory

CYBN

Cybin is set to commence its Phase 3 pivotal program for CYB003 in late summer, following a Type B Initial Breakthrough Therapy meeting with the FDA. The company has selected 30 clinical sites across the US and Europe. In Phase 2, CYB003 showed a 75% remission rate from depression four months after two 16mg doses. Cybin expects to report 12-month efficacy data from Phase 2 in Q4 this year.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:37 am

DIS

INDA

Reliance and Disney have proposed selling some TV channels to gain antitrust approval for their $8.5 billion media merger in India. However, the Indian antitrust body has stated that cricket rights cannot be sold.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:36 am

ABEO

The Centers for Medicare and Medicaid Services (CMS) has granted a product-specific procedure code ICD-10-PCS for Abeona Therapeutics' investigational gene therapy, Prademagene Zamikeracel (Pz-cel). This code will facilitate efficient documentation, billing, and analysis of inpatient hospital procedures using Pz-cel if it receives U.S. marketing approval. The code will be effective from October 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:34 am

NVDA

Nvidia's stock has risen 119% year-to-date despite recent volatility and a dip to around $100. Analysts from Bank of America and UBS have endorsed Nvidia as a 'top pick' due to expected growth from increased AI spending. Concerns over potential U.S. export restrictions to China and a delay in launching Blackwell chips have impacted the stock. However, Nvidia is expected to provide a key update in its Q2 earnings report on August 28, which could ease investor concerns. The Fed's upcoming decisions on interest rates are also seen as crucial for Nvidia's stock performance.

Portfolio Pulse from Zaheer Anwari

August 13, 2024 | 11:24 am

BIDU

GOOG

MBLY

TSLA

Gary Black, Managing Partner at The Future Fund, expressed skepticism about Tesla's monopoly in the unsupervised L4/L5 autonomy market, highlighting competition from Baidu, Mobileye, and Alphabet's Waymo. Black believes these companies will achieve and receive approval for unsupervised autonomy around the same time as Tesla. He also noted the increasing segmentation between consumer and industrial-strength autonomous vehicles and questioned the evidence supporting Tesla's Full Self-Driving capability.

Portfolio Pulse from Benzinga Neuro

August 13, 2024 | 11:09 am

BAX

Baxter International plans to use after-tax proceeds from its upcoming kidney care transaction to reduce its debt, aligning with its capital allocation priorities. The transaction is expected to close in late 2024 or early 2025, pending regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:06 am

BA

Two NASA astronauts are stuck at the ISS due to technical issues with Boeing's Starliner spacecraft. The thrusters have leaks and power-down issues, making an immediate return unlikely. NASA may send a SpaceX Crew Dragon to bring them back. The delay has also postponed the Crew-9 mission launch.

Portfolio Pulse from Navdeep Yadav

August 13, 2024 | 9:55 am

AZN

FXI

AstraZeneca and Daiichi Sankyo's Enhertu has received conditional approval in China for treating HER2-positive advanced or metastatic gastric cancer in patients who have undergone at least two prior treatments.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 9:20 am

LCW

Learn CW Investment has extended the period to consummate its initial business combination to September 13, 2024. This is the eleventh of up to twelve one-month extensions allowed under the company's governing documents, as amended in the Extraordinary General Meeting on October 11, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:01 am

HD

KYTX

PSFE

RMBL

XP

U.S. stock futures are trading higher this morning. Key stocks to watch include Home Depot, RumbleOn, Paysafe, Kyverna Therapeutics, and XP Inc. Home Depot is expected to report strong earnings, RumbleOn beat revenue estimates, Paysafe is anticipated to post solid earnings, Kyverna Therapeutics received FDA RMAT designation, and XP Inc. is expected to report earnings after the closing bell.

Portfolio Pulse from Avi Kapoor

August 13, 2024 | 7:44 am