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IDAI

Trust Stamp (NASDAQ:IDAI) reports that 40 financial institutions are now integrating its AI-Powered Orchestration Platform, with 18 new institutions starting since January 2023. The platform is designed to combat fraud while protecting customer data and privacy. Trust Stamp's President, Andrew Gowasack, expresses optimism for the company's growth and anticipates significant revenue from long-term usage starting in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:31 pm

WGS

GeneDx (NASDAQ:WGS) announced new data supporting exome sequencing over multi-gene panels for epilepsy diagnosis, to be presented at the AES annual meeting. The study of 22,500 individuals showed a 25% diagnosis rate with exome sequencing, higher than the 19% with multi-gene panels. 78% of those diagnosed had prior testing, indicating exome sequencing's superior diagnostic ability. Over half of seizure-related genes are not on many epilepsy panels. 11% of positive diagnoses from exome sequencing involved treatment-related genes. GeneDx will also present data on better insurance coverage for exome sequencing. The NSGC and AES recommend exome sequencing as a first-tier test for unexplained epilepsy. GeneDx will host a symposium at the conference discussing the benefits of exome sequencing for epilepsy patients.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:31 pm

LGND

Palvella Therapeutics and Ligand Pharmaceuticals (NASDAQ:LGND) have expanded their strategic partnership to accelerate Phase 3 development of QTORIN rapamycin for Microcystic Lymphatic Malformations (Microcystic LMs). Palvella received a $5 million upfront payment from Ligand, which also increased its tiered royalty on worldwide sales of QTORIN rapamycin to 8.0–9.8%. Ligand has an option to acquire a single-digit royalty on future topical products from Palvella's QTORIN platform. QTORIN rapamycin has potential to be the first FDA-approved therapy for Microcystic LMs, with over 30,000 diagnosed patients in the U.S. The FDA granted Breakthrough Therapy Designation to the drug in November 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:23 pm

IOT

Samsara Inc (NYSE:IOT) shares surged approximately 14% after reporting Q3 FY24 results with significant year-over-year growth. Revenue increased by 40% to $237.5 million, surpassing the consensus estimate of $224.7 million. The company's Annual Recurring Revenue (ARR) grew by 39% to $1.003 billion, and the number of customers with ARR over $100,000 increased by 49%. Non-GAAP gross margin improved to 75%, and operating margin turned positive to 5% compared to a loss a year ago. Non-GAAP EPS was $0.04, beating the $0.01 consensus. Adjusted free cash flow was reported at $8.5 million, with cash and cash equivalents at $208.1 million. Samsara raised its FY24 revenue outlook to $918 million – $920 million and non-GAAP EPS to $0.05 – $0.06, both above consensus estimates. IOT shares traded higher at $31.30 in premarket.

Portfolio Pulse from Lekha Gupta

December 01, 2023 | 1:13 pm

CLMT

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has announced that its Montana Renewables, LLC renewable diesel facility is back to full operations after completing the replacement of a cracked steam drum and other maintenance activities. The facility is now processing over 12,000 barrels per day of renewable feedstock, with no planned turnarounds for 2024, and will use the inventory built during the maintenance period over the next three months.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:04 pm

GLBE

Global-E Online reported a record 53% increase in sales during the Black Friday Cyber Monday (BFCM) weekend compared to the previous year, indicating strong performance and growth in consumer spending on their platform during a key shopping period.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:04 pm

HUBC

HUB Cyber Security Ltd (HUBC) has expanded its collaboration with Blackswan Technologies to provide Confidential Computing cybersecurity solutions to the financial sector. A recent agreement with a major European financial institution could result in HUB's revenue exceeding $25 million within 18 months. The deal includes a 3-year term with a potential 24-month extension. HUB's Chief Strategy Officer, Noah Hershcovitz, sees this as a step towards expanding their clientele and geographical reach.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:37 pm

FSR

Fisker Inc. reported that as of November 30, it had 123 vehicles delivered or in transit. The company has adjusted its 2023 production guidance to just over 10,000 units, a move expected to unlock over $300 million in working capital. Fisker also announced it will provide its fiscal year 2024 outlook by the end of this month.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 11:40 am

FXI

SPY

VGK

China's Cabinet is reportedly studying measures to accelerate the integration of domestic and foreign trade, according to state media as cited by Reuters. This move could have implications for trade policies and economic relations.

Portfolio Pulse from Charles Gross

December 01, 2023 | 11:22 am

BMO

Bank of Montreal (NYSE:BMO) reported Q4 earnings of $2.095 per share, slightly missing the consensus estimate of $2.10. Despite the earnings miss, the company's quarterly sales of $6.23 billion exceeded the expected $6.04 billion. However, both earnings and sales figures represent a decrease from the same period last year, with earnings down 8.52% and sales down 21.58%.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 11:04 am