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CGEM

Cullinan Therapeutics announces a strategic shift to focus on the development of CLN-978 for autoimmune diseases, specifically targeting systemic lupus erythematosus as the first indication. The company has discontinued enrollment in its B-NHL study to concentrate on autoimmune indications. This decision follows clinical observations from the CLN-978 B-NHL study, which demonstrated rapid, deep, and sustained B cell depletion and clinical activity. Additionally, the company has undergone a corporate name change to Cullinan Therapeutics to reflect its strategic expansion into autoimmune diseases. A virtual investor event is scheduled for April 16 at 8:00 am ET to discuss these developments.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:44 am

QQQ

SPY

TSLA

UNH

Wall Street anticipates a mixed open due to Middle-East tensions and rising bond yields, despite earnings optimism. UnitedHealth Group's earnings led to a rise in health benefit stocks, while tech stocks showed premarket weakness. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw minor adjustments in premarket trading. Analysts suggest a potential reversal in sentiment, citing historical patterns of recovery post-streaks of declines. Upcoming economic data and Federal Reserve officials' speeches are in focus, alongside earnings reports from major companies.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 11:24 am

OPRX

OptimizeRx reported Q4 adjusted EPS of $0.26, meeting analyst estimates, and sales of $28.40M, exceeding the $26.47M estimate. This represents a 4% increase in EPS and a 44.50% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:06 am

GMAB

Genmab announced that DARZALEX, its flagship product, achieved net sales of $2.692 billion in Q1. This performance is a critical indicator of the company's financial health and its product's market acceptance.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 10:42 am

VGK

The Eurozone ZEW Economic Sentiment index for April showed a significant increase to 43.9, surpassing the estimated 37.2 and the previous month's 33.5. This indicates a more optimistic economic outlook among investors and analysts in the Eurozone.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:03 am

VGK

The Eurozone trade balance for February reported a significant increase to 23.6 billion euros from 11.4 billion euros in the prior period.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:03 am

ARGX

argenx has announced transformative results for VYVGART and VYVGART Hytrulo in treating autoimmune diseases. ADHERE data indicate VYVGART Hytrulo could be the first major advancement for CIDP patients in 30 years. Additionally, real-world data show significant reduction in steroid use for gMG patients within the first six months of VYVGART treatment.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:18 am

ALCE

Alternus Clean Energy reported its FY23 revenue at $20.08 million, an increase from $17.09 million year-over-year. However, the net loss widened to $(0.93) million from $(0.32) million in the same period.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:56 am

NCTY

The9 Limited (NCTY) reported its FY23 net revenues at RMB 179M ($25M), marking a significant increase from RMB 108M year-over-year. Additionally, the company achieved a net income of RMB 13M ($2M), a substantial improvement from a net loss of RMB 975M in the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:44 am

BIDU

Baidu Inc's AI chatbot, Ernie Bot, has reached over 200 million users, doubling its user base since December. The chatbot, which was publicly released eight months ago, is now being used 200 million times daily through its API and has attracted 85,000 enterprise clients. Baidu has begun monetizing Ernie Bot, generating significant revenue in the fourth quarter through enhanced ad services and assisting companies in building their models. Despite its success, Ernie Bot faces competition from domestic AI services like Alibaba-backed Moonshot AI's Kimi chatbot. However, Chinese generative AI services, including Ernie Bot, still trail behind Western counterparts like OpenAI's ChatGPT.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 6:31 am