Streetbeat News

Revenues

ABEO

Abeona Therapeutics reported its FY23 financial results, showcasing a significant increase in revenue to $3.50M from $1.41M year-over-year. The company also reduced its EPS loss to $(2.53) from $(5.53) YoY, and reported a cash balance of $52.6M.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 11:35 am

PED

PEDEVCO reported a 43% increase in average daily production to 1,427 barrels of oil equivalent per day (74% oil) in 2023 compared to 2022. The company also reported a 2023 adjusted EBITDA of $17.5M, marking an 8% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 11:26 am

PTGX

TAK

Protagonist Therapeutics has finalized a global license and collaboration agreement with Takeda for Rusfertide. Protagonist is set to receive a $300M upfront payment in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 11:12 am

ERJ

Embraer projects its 2024 revenue to be between $6B-$6.4B, aligning with a $6.21B consensus. The company anticipates an adjusted EBIT margin of 6.5%-7.5% and expects to deliver 72-80 commercial and 125-135 executive aircraft. Additionally, Embraer forecasts an adjusted free cash flow of $220 million or more for the year.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 11:07 am

AZN

AstraZeneca announced a cap on out-of-pocket costs at $35 per month for its inhaled respiratory portfolio in the US, aiming to make these medications more affordable for patients. This move could enhance patient access to essential treatments and potentially increase the usage of AstraZeneca's respiratory products.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 11:02 am

VGK

The Eurozone Consumer Price Index (CPI) for February showed a year-over-year increase of 2.6%, aligning with estimates and marking a slight decrease from the previous 2.8%.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:01 am

VGK

The Eurozone Core Consumer Price Index (CPI) for February reported a year-on-year increase of 3.1%, aligning with estimates and showing a slight decrease from the previous 3.3%.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:01 am

MSFT

Microsoft's LinkedIn is venturing into gaming to enhance user engagement by introducing puzzle-based games. This move, aimed at blending business networking with entertainment, could potentially change how users interact on the platform. LinkedIn's gaming initiative includes titles like 'Queens,' 'Inference,' and 'Crossclimb,' inspired by the success of simple puzzle games. Although a launch date was not disclosed, the initiative reflects LinkedIn's growth under Microsoft, with the platform recently surpassing $15 billion in revenue and seeing a significant increase in advertising revenue.

Portfolio Pulse from Benzinga Neuro

March 18, 2024 | 7:38 am

FENC

Fennec Pharmaceuticals and Norgine have entered into an exclusive licensing agreement for the commercialization of PEDMARQSI in Europe, Australia, and New Zealand. PEDMARQSI is the first approved therapy in these regions for reducing cisplatin-induced hearing loss in pediatric patients with localized, non-metastatic solid tumors. Fennec will receive €40 million upfront, up to €210 million in milestones, and tiered royalties. Norgine will handle all commercialization activities.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:06 am

JOAN

JOANN has entered into an agreement to reduce its debt by approximately $505 million and receive $132 million in new capital along with related financial accommodations. The company will continue its operations as usual, with stores and JOANN.com remaining open. Vendors, landlords, and other general unsecured creditors will not be impaired by this agreement. JOANN is implementing a prepackaged financial recapitalization plan on an expedited basis.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:56 am