Streetbeat News

Revenues

CALT

Calliditas Therapeutics AB reported preliminary Q4 net TARPEYO revenues of $31M-$33M and FY23 net revenues of $100M-$102M, marking a 170% increase YoY. Total FY23 revenues are estimated at $110M-$113M, driven by TARPEYO sales, milestone payments, and royalty income. The company also saw a record number of TARPEYO prescriptions in Q4.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:41 am

SHEL

SHEL has updated its 4Q23 outlook, adjusting its production and sales volume estimates. Integrated Gas production is now expected to be 880-920 thousand boe/d, slightly up from the previous range. Upstream production estimates have been narrowed to 1,830-1,930 thousand boe/d, indicating a potential increase at the lower end. Marketing sales volumes are also expected to increase, with the new range being 2,350-2,750 thousand b/d. Additionally, refinery and chemicals utilisation rates have been updated to 78%-82% and 60%-64%, respectively.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:32 am

AUDA

Audacy Inc (OTC:AUDA), a radio and podcast company, has filed for Chapter 11 bankruptcy due to a significant drop in advertising revenues. The company plans to reduce its $1.9 billion debt by approximately 80%, leaving it with $350 million. The restructuring plan has been approved by most creditors, and Audacy will continue operations during the bankruptcy process. Its stock, now traded over the counter, has fallen 97% over the past year.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 7:07 am

ARGX

argenx announced preliminary Q4 and FY23 results with Q4 revenue of approximately $374M, slightly below the $384.95M estimate, and FY23 revenue of around $1.2B, just below the $1.22B estimate. The company reported having about $3.2B in cash and equivalents as of December 31, 2023. For 2024, argenx plans to focus on expanding the reach of VYVGART, advancing its pipeline, and leveraging its innovation engine, with R&D and SG&A expenses expected to be under $2B and a cash burn of about $500M.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:03 am

PHAR

Pharming Group has updated its FY23 guidance, expecting a 19% increase in revenue to approximately $245 million. RUCONEST revenues are projected to grow by 10%, and Joenja revenues are anticipated to be around $18 million. The company's cash and cash equivalents, along with restricted cash and marketable securities, are expected to total $215 million by the end of 2023. CEO Sijmen de Vries highlighted the successful launch of Joenja for APDS in the U.S. and plans for regulatory approvals and commercialization in additional markets, as well as the development of leniolisib for other primary immunodeficiencies.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:51 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines as the market anticipates the decision on the U.S.'s first spot BTC ETF. Bloomberg's Eric Balchunas expects approvals for ETF applicants who met the SEC's requirements. The crypto market cap fell by 4.80%, while U.S. stock futures were mixed. Congressional leaders reached a deal to avoid a government shutdown. Analysts predict a bull cycle for Bitcoin if the ETF is approved, with significant liquidity inflows and potential for a 10x price increase.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 3:19 am

CSTL

Castle Biosciences, Inc. (NASDAQ:CSTL) announced preliminary Q4 and FY23 results, expecting to surpass $210M in total revenue, a 53% growth over 2022. The company delivered 70,429 total test reports in 2023, a 59% increase from the previous year. Year-end cash, equivalents, and marketable securities are projected to be around $243M. Notable increases in test reports were seen in DecisionDx-SCC (91%), TissueCypher (234%), and IDgenetix (172%), while DecisionDx-UM saw a slight decrease (6%). The financials are unaudited and subject to adjustment.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:20 am

ALNY

Alnylam Pharmaceuticals reported preliminary global net product revenues of $1.241 billion for the full year 2023, a 39% annual growth, for its products ONPATTRO, AMVUTTRA, GIVLAARI, and OXLUMO. As of December 31, 2023, the company had approximately $2.4 billion in cash, cash equivalents, and marketable securities.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:14 am

ALNY

Alnylam Pharmaceuticals, Inc. reported preliminary Q4 and FY23 global net product revenues, showing significant growth. Q4 revenues for ONPATTRO and AMVUTTRA were approximately $79M and $175M, respectively, while GIVLAARI and OXLUMO revenues were about $59M and $33M, respectively. Full year revenues for these products totaled $1,241M, a 39% increase from the previous year. Over 4,060 patients were on ONPATTRO or AMVUTTRA, and over 1,080 patients were on GIVLAARI or OXLUMO by year-end. Alnylam also reported a strong balance sheet with $2.4B in cash and investments. The company will discuss these results at the J.P. Morgan Healthcare Conference.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:13 am

AMC

AMC Theatres Distribution and AMC Entertainment (NYSE:AMC) announced that Taylor Swift's 'The Eras Tour' concert film has become the highest grossing theatrical release in history among concert and documentary films, with global earnings surpassing $261.6 million. The film's success was bolstered by a strong opening week in China, where it earned $8.7 million, and it has now outperformed the previous record-holder, 'Michael Jackson's This Is It', which made $261.2 million globally in 2009.

Portfolio Pulse from Charles Gross

January 08, 2024 | 12:15 am