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MIRM

TVTX

Travere Therapeutics Inc has agreed to sell its bile acid product portfolio to Mirum Pharmaceuticals Inc for up to $445 million. The deal includes $210 million upfront and $235 million in potential sales-based milestone payments. The transaction is expected to close in Q3 of 2023. The deal expands Mirum's footprint in rare liver disease and advances Travere's strategy to deliver new treatment standards for rare diseases.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 4:18 pm

QBTS

Benchmark has maintained a Buy rating on D-Wave Quantum's stock and increased its price target from $2 to $3. This has resulted in D-Wave Quantum's shares trading higher.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 4:18 pm

ZIMV

ZimVie shares are trading higher due to a circulating rumor that the company is considering strategic alternatives and is seeing takeover interest. The company is reportedly working with an unknown investment bank.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 4:18 pm

CALM

GLMD

NOVN

VZ

On Monday, 50 companies reached new 52-week lows. The biggest company by market cap to set a new 52-week low was Verizon Communications (NYSE:VZ), while the smallest was Galmed Pharmaceuticals (NASDAQ:GLMD). Novan (NASDAQ:NOVN) was the biggest loser of the morning session, dropping 72.16% to reach its new 52-week low. Cal-Maine Foods (NASDAQ:CALM) shares were the most resilient, rising 0.06% from its new 52-week low.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 4:17 pm

BBIO

GNTY

GP

JZXN

NOVN

PMN

VRAY

US stocks traded higher with the Nasdaq Composite gaining around 100 points. Guaranty Bancshares (GNTY) reported better-than-expected Q2 results. ProMIS Neurosciences (PMN), BridgeBio Pharma (BBIO), and GreenPower Motor Company (GP) saw their shares rise due to positive developments. However, Novan (NOVN), ViewRay (VRAY), and Jiuzi Holdings (JZXN) experienced a drop in their share prices due to various reasons.

Portfolio Pulse from Lisa Levin

July 17, 2023 | 4:16 pm

IVVD

Invivyd Inc (NASDAQ:IVVD) has released additional initial data from its ongoing Phase 1 clinical trial of its lead investigational monoclonal antibody (mAb) candidate, VYD222. The data shows that a single administration of VYD222 was generally well-tolerated at all three dose levels tested, with no serious adverse events reported. The company intends to use these analyses to further inform its VYD222 dosing strategy.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 4:15 pm

V

Visa (NYSE:V) has been in consolidation for two years, but now appears poised for a breakout as fundamentals have caught up to its stock price. The company has a strong balance sheet, impressive return metrics, and has seen consistent growth in revenues, free cash flow, and net income. Visa's valuation is considered reasonable under the '2G' rule, and it is expected to meet or surpass market expectations. The company is set to announce its quarterly results on July 25, 2023, which could serve as a catalyst for its shares to reach new all-time highs.

Portfolio Pulse from Dimitry Nakhla

July 17, 2023 | 4:14 pm

NSC

A non-Norfolk Southern train derailed near Plymouth, PA, causing expected delays of at least 12 hours on shipments moving to and from the Morrisville Intermodal Facility.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 4:12 pm

VIRI

Virios Therapeutics announced data showing improvement in multiple Long-Covid symptoms following treatment with a combination of Valacyclovir and Celecoxib in a proof of concept study. However, the company's shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 4:12 pm

DIS

Walt Disney Company (NYSE:DIS) shares are trading lower, down by more than 8% over the last month. The entertainment industry is facing disruption due to the SAG-AFTRA strike of actors and writers. Disney's CEO, Bob Iger, expressed concerns about the unrealistic expectations of the unions. Additionally, Disney is in a legal dispute with Governor DeSantis and the state of Florida over its self-governing control over its theme park. Disney's shares are trading on higher than average volume.

Portfolio Pulse from Erica Kollmann

July 17, 2023 | 4:08 pm