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FDMT

4D Molecular Therapeutics (4DMT) reported clinical pipeline progress, upcoming milestones, and organizational updates. The company remains well-capitalized with $300M in estimated cash, sufficient to fund operations into H1 2026. Key clinical advancements include progress in wet AMD, DME, and CF programs, with Phase 2 trial data for 4D-150 in wet AMD and DME expected in 2024. The company also announced a partnership with Arbor Biotechnologies for CNS diseases and appointed Noriyuki Kasahara as Chief Scientific Officer. Upcoming milestones include data presentations, trial updates, and IND filings across its ophthalmology, pulmonology, cardiology, and rare inherited retinal disorders portfolios.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:20 pm

STZ

Constellation Brands, Inc. (STZ) is set to release its Q3 earnings report on Jan. 5, 2024, with expected earnings of $3.00 per share on revenue of $2.55 billion. JPMorgan analyst Andrea Teixeira maintains an Overweight rating on STZ but lowered the price target from $309 to $301. The article also discusses how to earn monthly income from STZ's dividends, which currently yield 1.47%, and provides examples of the number of shares needed to achieve certain income goals. STZ shares fell 1% to close at $241.42 on Wednesday.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 1:20 pm

NKLA

Nikola Corporation reported the production of 42 Class 8 hydrogen fuel cell vehicles and the wholesale of 35 of these vehicles to customers in the US and Canada for the year 2023.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:19 pm

DSS

DSS, a leader in anti-counterfeit, authentication, and diversion protection technologies, announced that its Co. Chairman has purchased 672,173 shares of the company's stock. This move could signal confidence in the company's future prospects and may influence the stock's performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:17 pm

MPB

STCN

TLYS

Insider purchases were made in Tilly's, Steel Connect, and Mid Penn Bancorp, signaling potential confidence in these companies despite recent challenges such as lower quarterly sales. These transactions may indicate an opportunity for investors, but should not be the sole basis for investment decisions.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 1:16 pm

CTMX

CytomX Therapeutics, Inc. (NASDAQ:CTMX) announced its 2024 priorities, including anticipated milestones for its pipeline. Key programs like CX-904, CX-2051, and CX-801 are expected to reach clinical proof of concept. CX-904, partnered with Amgen, will have Phase 1a data in H2 2024. IND applications for CX-2051 and CX-801 have been filed, with Phase 1 initiations expected in H1 2024. Bristol Myers Squibb is advancing BMS-986288 to Phase 2 studies. CytomX has partnerships with major companies and ended Q3 2023 with $194 million in cash, projecting a runway to H2 2025.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:16 pm

C

GS

JPM

MS

Citigroup Inc. (C) is planning to launch a fully-owned investment banking unit in China by the end of the year, aiming to hire about 30 people initially and potentially expanding to nearly 100. The Chinese securities regulator approved the U.S. bank's application last month. Citi's move follows similar expansions by Goldman Sachs (GS), JP Morgan (JPM), and Morgan Stanley (MS) in China. The expansion is seen as risky due to China's slowing economic growth and evolving policies.

Portfolio Pulse from Nabaparna Bhattacharya

January 04, 2024 | 1:14 pm

CCCS

CCC Intelligent Solutions Holdings Inc. (CCCS) has upsized its secondary offering from 20 million to 22 million shares. The shares are being sold by affiliates of Advent International, L.P., and the company will not receive any proceeds from the sale. The offering is expected to close on January 8, 2024, and is being managed by J.P. Morgan, Barclays, and Citigroup. The offering is made under an effective shelf registration statement filed with the SEC.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:11 pm

APPF

MANH

PRSO

SMX

The article highlights four oversold tech stocks with RSI values near or below 30, suggesting potential undervaluation. AppFolio, Inc. (APPF) reported strong Q3 results but saw a 14% stock decline over the past month. Manhattan Associates, Inc. (MANH) also posted better-than-expected Q3 results, with a 7% stock drop over five days. Peraso Inc. (PRSO) announced a 1-for-40 reverse stock split, leading to a 17% decline over five days. SMX (Security Matters) PLC announced a new plastic cycle token, with a 35% share loss over five days.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 1:11 pm

BDTX

Black Diamond Therapeutics has outlined its expected milestones for 2024, including the exploration of BDTX-1535 for first-line treatment in patients post-Osimertinib adjuvant therapy.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:09 pm