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PALI

Palisade Bio's stock is plummeting after the company announced that its Phase 2 PROFILE study of LB1148 for post-surgical abdominal adhesions did not achieve its primary endpoint. The trial was paused due to COVID-19 and restarted with an amended protocol in May 2022. The topline data showed that LB1148 did not reduce adhesions in treated patients compared to placebo-treated patients. The company does not believe the results support further development of LB1148 for a reduction in intra-abdominal adhesions. PALI shares are down 67.7%.

Portfolio Pulse from Vandana Singh

August 09, 2023 | 1:31 pm

PALI

Palisade Bio announced that its U.S. Phase 2 PROFILE study evaluating LB1148 for post-surgical abdominal adhesions did not achieve the primary efficacy endpoint, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:30 pm

NXU

Nxu shares are trading lower following the announcement of a $5 million public offering.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:29 pm

DBTX

REGN

Regeneron has announced its plans to acquire Decibal Therapeutics, leading to a rise in Decibal's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:28 pm

VZ

Verizon's CFO has announced that the company will be raising prices on its Mix and Match plans by $3-$5, starting in September.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:28 pm

RENB

Renovaro Biosciences and AI-focused GEDi Cube have announced a binding, exclusive letter of intent to merge. This has led to an increase in Renovaro Biosciences' share prices.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:26 pm

DBTX

REGN

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) has agreed to acquire Decibel Therapeutics Inc (NASDAQ:DBTX) at $4.00 per share with an additional contingent value right of up to $3.50 per share in cash upon achievement of certain clinical development and regulatory milestones. The proposed acquisition values Decibel at a total equity value of approximately $109 million and approximately $213 million if the CVR milestones are achieved. DBTX shares are up 82.4% at $5.09 during the premarket session on the last check Wednesday.

Portfolio Pulse from Vandana Singh

August 09, 2023 | 1:24 pm

YELL

Yellow Corp has been notified by the Nasdaq Stock Market LLC that trading of its common stock will be suspended at the opening of business on August 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2023 | 1:22 pm

DIS

DKNG

PENN

DraftKings Inc (NASDAQ:DKNG) shares dropped following an exclusive online sports betting deal between PENN Entertainment Inc (NASDAQ:PENN) and ESPN, a Walt Disney Co's (NYSE:DIS) company. The deal gives Penn exclusive rights to the ESPN Bet trademark for online sports betting in the U.S. for an initial 10-year term. Penn also sold 100% of the Barstool Sports common stock back to Dave Portnoy. Despite the initial sell-off, analysts upgraded DraftKings from Underweight to Neutral and raised the price target.

Portfolio Pulse from Adam Eckert

August 09, 2023 | 1:22 pm

NVS

Novartis AG has announced positive topline results from the Phase 3 REMIX-1 and REMIX-2 studies evaluating remibrutinib in patients with chronic spontaneous urticaria (CSU). The studies met their primary endpoint, showing significant improvements in disease activity. Patients saw rapid improvement as early as two weeks after treatment initiation. If approved, remibrutinib could become the first new CSU treatment in a decade. NVS shares are up 0.15% premarket.

Portfolio Pulse from Vandana Singh

August 09, 2023 | 1:21 pm