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argenx

Argenx is a Dutch company focused on using its antibody engineering technology to treat rare autoimmune diseases. Vyvgart (efgartigimod) was initially approved in the US in December 2021 as a treatment for generalized myasthenia gravis, followed by approvals in Europe and Japan in 2022.

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Johnson &amp; Johnson has submitted a Biologics License Application (BLA) to the FDA for nipocalimab, seeking its first global approval for generalized myasthenia gravis (gMG). This submission follows positive Phase 3 study results and could position nipocalimab as a key competitor against existing gMG treatments like UCB&#39;s Rystiggo and Argenx&#39;s Vyvgart.

Johnson &amp; Johnson Seeks FDA Approval For Muscle Weakness Drug And Gears Up Showdown With Argenx and UCB

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Shares of Argenx (NASDAQ: ARGX) rose nearly 4% on Friday after management announced that the FDA approved its subcutaneously administered Vyvgart Hytrulo (efgartigimod) for a second indication — chronic inflammatory demyelinating polyneuropathy (CIDP).

FDA Expands Argenx&#39;s Vyvgart Label to Treat Rare Disorder

argenx SE

Vertically integrated cannabis company Cansortium Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TIUM#CSE">TIUM</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTCQB">CNTMF</a>), operating under the FLUENT brand, launched the cannabis concentrate line, Hyer Kind. The Tampa-based multi-state operator notes that the new product is exclusively available at all FLUENT dispensaries across Florida.
Hyer Kind offers cured badder, crumble, and cured resin cartridges designed to support wellness routines and address the increasing interest in concentrates among medical marijuana patients in the Sunshine State.
&#8220;As FLUENT's first brand dedicated exclusively to concentrates, Hyer Kind marks a key milestone for us," stated Robert Beasley, CEO of Cansortium. "We are so proud to be associated with a quality brand like Hyer Kind and know consumers in Florida will be happy that this offering is now available in our stores. From the whole flower selection to the extraction methods, we're on a mission to set a new standard for concentrates by prioritizing flavor, quality, innovation and accessibility. It's our responsibility to meet patients where they are by expanding our offerings and providing diverse price points to ensure everyone has access to the products that suit their needs."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41381476/riv-capital-partners-with-cannabis-wholesale-platform-nabis-to-boost-new-york-distribution">https://www.benzinga.com/markets/cannabis/24/10/41381476/riv-capital-partners-with-cannabis-wholesale-platform-nabis-to-boost-new-york-distribution</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
Hyer Kind products are developed to provide full-spectrum flavor derived from cannabis plants. The process involves selecting whole flowers and using hydrocarbon and solventless extraction techniques. Methods like live ice-water extraction are employed to maintain quality and potency for medical marijuana patients.
With plans to expand Hyer Kind into additional markets, including New York, its cured badder and resin cartridges (0.5g) are available exclusively to Florida patients for $50, with crumble priced at $45. FLUENT also plans to expand the brand's portfolio with additional concentrate options.
In October, the New York Cannabis Control Board <a href="https://www.benzinga.com/markets/cannabis/24/10/41282624/major-cannabis-merger-approved-in-new-york-can-weed-stock-investors-take-advantage">approved the merger</a> between Cansortium and RIV Capital. The merger, expected to close by the end of 2024, positions the combined company to take full advantage of<a href="https://www.benzinga.com/markets/cannabis/24/05/39094250/this-cannabis-merger-will-cover-25-of-u-s-population-cansortium-riv-capital-powered-by-scottsmir" target="_blank" rel="noreferrer noopener"> covering 25% of the U.S. population</a> with eight cultivation and processing facilities and 42 retail dispensaries.
Price Action
Cansortium shares closed Wednesday's market session 5.26% lower at $0.900 per share.
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CNTMF

CSE:TIUM

FLUENT Launches New Cannabis Concentrates Line For Medical Marijuana Patients In Florida

BYON

The Container Store Expects SPA Conditions With Beyond Inc. To Remain Unsatisfied; Pursues Additional Capital From Existing Lenders To Support Long-Term Growth And Strategic Initiatives

A Chinese state-backed company, Spacesail, is preparing to launch a satellite service in Brazil, posing a challenge to Elon Musk&#8216;s SpaceX operated satellite service, Starlink. This announcement aligns with Chinese President Xi Jinping&#8216;s visit to Brazil, where he signed an upgraded partnership with President Luiz Inácio Lula da Silva on Thursday.
What Happened: Spacesail, which specializes in&nbsp;high-speed internet services through low&nbsp;Earth orbit satellites, has teamed up with Brazilian state-owned&nbsp;Telebrás&nbsp;to offer&nbsp;satellite communications and broadband Internet&nbsp;services. The companies plan to evaluate demand in regions lacking fiber optic infrastructure, with the service expected to launch by 2026, according to a spokesperson from Brazil&#8217;s communications ministry.
This move comes amid tensions between Musk&#8217;s SpaceX and Brazilian authorities over alleged misinformation on Musk&#8217;s social media platform, X. Starlink, which controls nearly half of Brazil&#8217;s satellite internet market, was recently fined for failing to comply with court orders to remove extremist content. 
See Also: <a href="https://www.benzinga.com/news/24/11/42025443/elon-musk-reacts-after-brazilian-presidents-wife-swears-at-tesla-ceo-they-will-lose-the-next-lection?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Brazilian President&#8217;s Wife Swears At Tesla CEO: &#8216;They Will Lose The Next Election&#8217;</a>
This development occurs as the U.S. expresses concerns over China&#8217;s increasing influence in Latin America, a region traditionally dominated by Washington. Spacesail plans to deploy 15,000 satellites by 2030, having already launched 36 satellites this year,&nbsp;according to Chinese state media.
Why It Matters: The entry of Spacesail into the Brazilian market is part of a<a href="https://www.benzinga.com/news/24/08/40210259/china-challenges-elon-musks-spacex-starlink-with-its-own-internet-satellites-plans-to-deploy-648-sat"> broader strategy by China</a> to expand its satellite internet capabilities globally. In August, China launched its Thousand Sails project, aiming to deploy over 15,000 low-Earth orbit satellites to provide worldwide internet coverage. This initiative is seen as a direct challenge to Musk&#8217;s Starlink.
Meanwhile, Starlink has faced <a href="https://www.benzinga.com/news/24/09/40680467/after-x-ban-elon-musks-starlink-defies-brazilian-court-order-to-block-social-media-platform">regulatory challenges in Brazil</a>. In September, the Brazilian Supreme Court lifted a freeze on Starlink and X&#8217;s finances after the companies paid <a href="https://www.benzinga.com/24/09/40864550/brazils-supreme-court-lifts-freeze-on-starlink-and-xs-finances-after-elon-musks-companies-cough-up-3">$3.3 million in fines</a> related to non-compliance with court orders to block certain accounts accused of spreading misinformation. This legal battle has highlighted the complexities of operating in Brazil&#8217;s regulatory environment.
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Tech

Elon Musk's Starlink Faces New Competition As Chinese Satellite Firm Spacesail Enters Brazilian Market

The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) today announced estimated catastrophe losses for the month of October of $286 million or $226 million, after-tax, including $102 million, pre-tax, from Hurricane Milton and unfavorable reserve reestimates of $144 million, pre-tax, related to Hurricane Helene, primarily in Georgia, South Carolina and North Carolina. Total catastrophe losses for October year-to-date were $4.84 billion or $3.82 billion, after-tax.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.allstateinvestors.com&amp;esheet=54156377&amp;newsitemid=20241121771594&amp;lan=en-US&amp;anchor=www.allstateinvestors.com&amp;index=1&amp;md5=ebb1901d3c4b2d8298664d6bd8200ed5">www.allstateinvestors.com</a>.

Allstate Announces Estimated Catastrophe Losses For The Month Of October Of $286M Or $226M, After-Tax, Including $102M, Pre-Tax, From Hurricane Milton And Unfavorable Reserve Reestimates Of $144M, Pre-Tax, Related To Hurricane Helene, Primarily In Georgia, South Carolina And North Carolina. Total Catastrophe Losses For October Year-To-Date Were $4.84B Or $3.82B, After-Tax

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) goes lower. &#8220;It's just become too <a href="https://www.benzinga.com/quote/PEP/earnings">darn hard,&#8221; he added</a>.
On Oct. 8, PepsiCo reported mixed third-quarter results and lowered its 2024 organic revenue guidance. The company reported a third-quarter net revenue decline of 0.6% year-over-year to $23.319 billion and organic growth of 1.3%, missing the consensus estimate of $23.825 billion. Adjusted EPS of $2.31 beat the consensus estimate of $2.29.
Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) makes no money, Cramer said.
On Nov. 14, Intuitive Machines reported third-quarter revenue of $58.48 million, beating analyst estimates of $50.89 million, according to Benzinga Pro. Total revenue was up 359% on a year-over-year basis. The company reported a net loss of $80.44 million, versus net income of $14.31 million in the prior year's quarter.
Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) is &#8220;ok,&#8221; Cramer said. &#8220;Coterra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>) is the way I like to do this thing.&#8221;
Occidental Petroleum reported quarterly adjusted earnings of $1.00 per share, beating the analyst consensus estimate of 74 cents. Quarterly revenue came in at $7.15 billion, missing the consensus estimate of $7.23 billion.
Cramer said Globe Life Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) is &#8220;fine. It's not exciting, it's not boring, it's just fine.&#8221;
On Nov. 18, Globe Life announced that its Board of Directors has approved an authorization to repurchase up to $1.8 billion of common stock under its existing stock repurchase program.
Price Action:
<ul>
<li>Intuitive Machines shares fell 3.9% to settle at $12.07 on Wednesday.</li>
<li>PepsiCo shares gained 1.3% to close at $158.74.</li>
<li>Occidental Petroleum shares gained 0.8% to close at $50.91.</li>
<li>Globe Life shares fell 0.5% to settle at $108.76 during the session.</li>
</ul>
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Image: Shutterstock

Media

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LUNR

Jim Cramer Predicts Pepsi Goes Lower: 'It's Just Become Too Darn Hard'

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Cool Company shares are trading lower. The company reported Q3 financial results.

Supporting NASA's Artemis Campaign And Commercializing Cislunar Space With Scalable Pay-By-The-Minute Services

Intuitive Machines Partners With Johns Hopkins APL To Advance Lunar Communications And Navigation Infrastructure

TBLA

Taboola.com shares are trading higher. The company's Form4 filing disclosed that Limon Zvi bought 214,789 shares of stock.

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Brenmiller Energy And TUTCO Heating Solutions Group Enter Manufacturing Agreement; TUTCO To Manufacture And Sell Resistive Heaters To Brenmiller For Brenmiller's bGen ZERO

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JJSF

J & J Snack Foods Appoints Shawn Munsell As CFO

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SIDU

Sidus Space And Reflex Aerospace Partner To Advance Dual-Use Satellite Development, Strengthening U.S. And European Space Infrastructure With Collaborative Launch Planned For 2025; No Financial Terms Disclosed

BLEU

Trading Halt: Halted at 8:35:56 a.m. ET - Trading Halt: Halt News Pending

BLEUR

BLEUU

BLEUW

Wells Fargo analyst Michael Turrin maintains Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) with a Equal-Weight and raises the price target from $125 to $150.

Wells Fargo Maintains Equal-Weight on Snowflake, Raises Price Target to $150

VSTS

Vertis shares are trading lower after the company issued FY25 sales guidance below estimates.

On Thursday, Temu parent&nbsp;PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)&nbsp;reported&nbsp;fiscal third-quarter 2024&nbsp;revenue growth of 44% year-on-year to $14.16 billion (68.84 billion Chinese yuan), missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42107689/pdd-holdings-announces-third-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">analyst consensus estimate of $14.47 billion</a>.
The Chinese online retailer's adjusted earnings per ADS of $2.65 (18.59 Chinese yuan) increased from 11.61 Chinese yuan Y/Y, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $2.82</a>.&nbsp;The stock plunged after the print.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42032495/alibaba-eyes-5-billion-bond-sale-to-fund-debt-payoff-and-stock-buybacks" rel="noreferrer noopener">Alibaba Eyes Raising $5 Billion Via Bond Sale to Fund Debt Payoff and Stock Buybacks</a>
Revenues from online marketing services and others rose 24% Y/Y to $7.03 billion. Revenues from transaction services jumped 72% Y/Y to $7.13 billion.
Adjusted operating profit grew by 48% Y/Y to $3.81 billion.
PDD Holdings held $44.0 billion in cash and equivalents as&nbsp;of September 30, 2024. The company generated $3.92 billion in operating cash flow.
Over the past quarter, PDD Holdings focused on advancing the high-quality development of its platforms, prioritizing consistent and strategic investments in its ecosystem for long-term impact.
Co-CEO Jiazhen Zhao said that during the third quarter, the company increased investments in its platform ecosystem by introducing merchant support initiatives and enhancing trust and safety measures.
This approach encouraged high-quality merchants to elevate their product and service offerings, creating a positive cycle of growth and improvement.
VP of Finance Jun Liu said that topline growth moderated quarter-on-quarter due to intensified competition and external challenges.
PDD Holdings stock plunged over 20% year-to-date.
Price Action: At the last check on Thursday, PDD stock traded lower by 11.20% to $103.50 premarket.
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Photo via Shutterstock

Emerging Markets

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Temu Parent PDD Stock Tumbles After Q3 Profit Miss, Company Cites Intensified Competition and External Challenges

SRAD

Sportradar Signs Multiyear Agreement With MLB To Provide Sports Performance Analysis Of Prospects Through Its Synergy Coaching And Scouting Solution

CDTX

Cidara Therapeutics Secures $105M In Private Placement; Closing Expected November 25, 2024

Argenx Se (ARGX) has released an update. Argenx SE is advancing the clinical development of its subcutaneous treatment, efgartigimod SC, for idiopa...

Argenx SE Boosts Myositis Treatment Development

Stifel Nicolaus analyst Alex Thompson CFA maintained a Buy rating on Argenx Se (ARGX – Research Report) today and set a price target of $707.00. Th...

Argenx Se (ARGX) Receives a Buy from Stifel Nicolaus

Douglas Tsao, an analyst from H.C. Wainwright, reiterated the Buy rating on Argenx Se (ARGX – Research Report). The associated price target remains...

Promising Development of Argenx's Efgartigimod for Myositis Drives Buy Rating

H.C. Wainwright analyst Douglas Tsao reiterates a Buy rating on Argenx (ARGX) with a $617 price target after the company said it is advancing efgar...

Argenx may have first targeted myositis treatment, says H.C. Wainwright

In a report released today, Jason Butler from JMP Securities reiterated a Buy rating on Argenx Se (ARGX – Research Report), with a price target of ...

Argenx Se's Promising Clinical Advancements and Positive ALKIVIA Study Results Underpin Buy Rating

Leerink Partners analyst Thomas Smith has reiterated their bullish stance on ARGX stock, giving a Buy rating yesterday. Thomas Smith has given his ...

Positive Clinical Trial Results and Market Position Strengthen Buy Rating for Argenx SE

Bank of America Securities analyst Tazeen Ahmad has reiterated their bullish stance on ARGX stock, giving a Buy rating yesterday. Tazeen Ahmad has ...

Argenx's Promising ALKIVIA Trial Progress and Enhanced Investment Appeal for 2024

In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Argenx Se (ARGX – Research Report), with a price target of ...

Oppenheimer Reaffirms Their Buy Rating on Argenx Se (ARGX)

Oppenheimer raised the firm's price target on Argenx (ARGX) to $675 from $646 and keeps an Outperform rating on the shares after the company announ...

Argenx price target raised to $675 from $646 at Oppenheimer

In a report released today, Akash Tewari from Jefferies maintained a Buy rating on Argenx Se (ARGX – Research Report), with a price target of $689....

Jefferies Sticks to Their Buy Rating for Argenx Se (ARGX)

Press Releases

argenx Reports Half Year 2024 Financial Results and Provides Second Quarter Business Update

argenx to Present at Upcoming Investor Conferences

argenx Announces Publication in The Lancet Neurology of Pivotal ADHERE Study Data in Chronic Inflammatory Demyelinating Polyneuropathy

argenx Highlights Data Showing Patient Impact Across Multiple Immunology Programs at 2024 American Association of Neuromuscular & Electrodiagnostic Medicine Annual Meeting and Myasthenia Gravis Foundation of America Scientific Sessions

argenx to Report Third Quarter 2024 Financial Results and Business Update on October 31, 2024

argenx Reports Third Quarter 2024 Financial Results and Provides Business Update

argenx to Participate at Upcoming Investor Conferences

Zai Lab and argenx Announce Approval of VYVGART Hytrulo for Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) in China

argenx and Zai Lab Announce Approval of VYVGART Hytrulo for Chronic Inflammatory Demyelinating Polyneuropathy in China

argenx Advances Clinical Development of Efgartigimod SC in Idiopathic Inflammatory Myopathies

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