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PsyBio Therapeutics (OTC:PSYBF) Stock, Option Chain

PsyBio Therapeutics Corp is a biotechnology company. The company is engaged in the development of drugs intended for the treatment of mental illness and neurological disorders.

Cannabis

News

Psychedelics

Markets

PSYBF

Along with a growing scientific corpus supporting the therapeutic potential of psychedelics, several states and most noticeably Massachusetts are seeing the decriminalization of natural substances via local measures. 

MA, FL And OH Psychedelics Scientists And Educators&#39; Latest Research And Views

Penny Stocks

Small Cap

Events

ENVB

TRYPF

Experts gathered at the Benzinga Psychedelics Capital Conference in Miami Beach on Thursday where they talked about revolutionizing psychedelic therapy as a promising new approach for treating mental health conditions and how clinical dat

EXCLUSIVE: In Reinventing Mental Health &amp; Next-Gen Psychedelics, &#39;Access And Clinical Data Are Key&#39;

Legal

CMPS

IWINF

IXHL

NUMIF

PSIL

PSYK

RED LIGHT HOLLAND CORP by Red Light Holland Corp.

TRUFF

Psychedelic Therapy Now Available As Workplace Benefit, Free Month For Laid-Off Tech Workers



Psyched: Psychedelic Therapy In The Workplace, UCL&#39;s Brain Imaging Study, COMPASS Trials And More

PSYBIO THERAPEAUTICS CORP by PsyBio Therapeutics Corp.

PsyBio Therapeutics Corp

Earnings

TRUG

TruGolf Q3 EPS $0; Sales $6.236M Up From $3.431M YoY

Deswell Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSWL#NASDAQ">DSWL</a>) reported quarterly earnings of $0.39 per share. This is a 77.27 percent increase over earnings of $0.22 per share from the same period last year. The company reported $35.18 million in sales this quarter. This is a 6.77 percent decrease over sales of $37.73 million the same period last year.

DSWL

Deswell Indus H1 EPS $0.39 Up From $0.22 YoY, Sales $35.18M Down From $37.73M YoY

MacKenzie Scott, the ex-wife of Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos, has recently sold 11% of her Amazon shares, valued <a href="https://www.benzinga.com/personal-finance/24/03/37892348/jeff-bezos-ex-wife-mackenzie-scott-had-an-excruciating-job-making-and-selling-sandwiches-to-pay-">at over $8 billion. </a>
The Details: Scott received approximately 400 million Amazon shares as part of her divorce settlement with Bezos in 2019 and signed The Giving Pledge, a commitment to donate most of her wealth during her lifetime. The latest sale brings her total Amazon stock sales and donations to 255 million shares valued at <a href="https://www.benzinga.com/general/24/03/37873028/jeff-bezoss-ex-wife-mackenzie-scott-gives-4-million-grant-to-non-profit-helping-find-employment-for">approximately $37 billion. </a>
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media Insiders Sell More Than $16 Million In DJT Stock</a>
Scott has disposed of two-thirds of her Amazon shares in less than six years since the divorce.  According to Forbes, she is one of the five most generous living donors in the U.S. and has given at least $17.3 billion to more than 2,300 separate nonprofit groups. 
Forbes <a href="https://www.forbes.com/sites/phoebeliu/2024/11/11/billionaire-philanthropist-mackenzie-scott-sold-donated-more-amazon-shares/">speculates</a> the remaining $20 billion could be sitting in her various charitable accounts, with the shares likely sold, regardless of whether Scott moved them into one of her many reported donor-advised funds. 
"Most charities have a policy of immediate sale," Holly Welch Stubbing, CEO of National Philanthropic Trust, a donor-advised-fund sponsor where Scott reportedly has an account, per Forbes.&nbsp;
One organization Scott <a href="https://www.benzinga.com/general/24/03/37873028/jeff-bezoss-ex-wife-mackenzie-scott-gives-4-million-grant-to-non-profit-helping-find-employment-for">supported</a> with proceeds from sales of Amazon shares is the West Philadelphia Skills Initiative, which helps job seekers find careers and employers locate top talent. Scott donated $4 million in unrestricted funds to the organization. 
&#8220;They&#8217;re not asking us to do anything different. They&#8217;re saying you&#8217;re doing a really good job. Keep going, we trust you,&#8221; said Cait Garozzo, executive director of the West Philadelphia Skills Initiative. &#8220;And that means a lot. It allows us to experiment and innovate to leverage the investment funds that we already have to grow in a way that feels authentic.&#8221;
If Scott had not given any of her shares away, she would be one of the 20 richest people in the world and the second richest woman, worth $82 billion.&nbsp;
Read More:&nbsp;
<ul>
<li>&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Photo: Courtesy of IWEC Foundation

Large Cap

Success Stories

AMZN

Jeff Bezos' Ex-Wife MacKenzie Scott Sells More Amazon Shares

Flora Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGC#NASDAQ">FLGC</a>) reported Thursday after market close its financial results for the three months ended Sept. 30, 2024. disclosing revenue of $12.47 million, down from $17.32 million in the same period of last year.
&#8220;As the cannabis industry continues to grow, we at Flora are encouraged by the election of President-elect Donald Trump and the potential for continued progress in cannabis reform,&#8221; stated CEO Clifford Starke. &#8220;Under his previous administration, the signing of the 2018 Farm Bill laid the foundation for the U.S. hemp and CBD industries, creating a $28 billion market and countless economic opportunities for farmers, manufacturers, and brands across the nation. We recognize the profound impact of this legislation, which enabled Flora and many others to bring safe, high-quality cannabis products to a global audience.&#8221;
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41981887/california-weed-co-led-by-former-la-cop-reports-32-yoy-q3-revenue-growth">California Weed Co. Glass House Brands Reports 32% YoY Q3 Revenue Growth (UPDATED)</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.
<h2 class="wp-block-heading">Q3 Financial Highlights</h2>
<ul>
<li>Gross profit was $2.84 million compared to $4.94 million in the third quarter of 2023.</li>
<li>Net loss was $3.8 million compared to a net income of $1.1 million in the comparable quarter of last year.</li>
<li>Total operating expenses were of $6.5 million, compared to $5.5 million in the corresponding quarter of 2023.</li>
<li>Adjusted EBITDA was a loss of $2.4 million compared to an Adjusted EBITDA loss of $200,000 in the comparable quarter.</li>
</ul>
&#8220;With federal rescheduling procedures set to begin in January, we remain optimistic about additional cannabis policy advancements that could bring significant benefits to consumers, businesses, and communities alike,&#8221; Starke continued. &#8220;The prospect of a rescheduling shift underscores the growing recognition of cannabis&#8217;s therapeutic potential and its rightful place in a modern, regulated economy.&#8221;
<h2 class="wp-block-heading">Recent Milestones</h2>
Earlier this month, Flora reaffirmed its <a href="https://www.benzinga.com/markets/cannabis/24/11/41720393/flora-growth-inks-medical-marijuana-supply-agreement-with-curaleaf">medical cannabis supply agreement</a> with Curaleaf Holdings‘ (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>) subsidiary Northern Green Canada, Inc. Under the agreement, Northern Green will supply Flora with medicinal cannabis products that Flora will distribute in the German market. The new supply agreement provides for a minimum purchase obligation and a minimum supply obligation on Flora and Northern Green, respectively, subject to certain terms and conditions.
In October, the Florida-based cannabis company launched <a href="https://www.benzinga.com/markets/cannabis/24/10/41518430/flora-growth-launches-first-thc-infused-beverage-in-4-flavors-provides-update-on-hoshi-investmen">its first THC-infused beverage, Melo</a>, marking the company's debut into the rapidly growing beverage market. Melo is the result of a strategic joint venture between Flora Growth and Peak, a renowned provider of advanced cannabis-based products. The collaboration combines Flora's marketing and distribution network with Peak's emulsion technology. Melo comes in four flavors – grapefruit, half &amp; half lemonade iced tea, strawberry mango and wild berries.
<h2 class="wp-block-heading">Price Action</h2>
Flora Growth shares closed Thursday's market session 15.93% higher at $1.31 per share.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/41998220/agrifys-q3-revenue-drop-18-6m-loss-amid-new-leadership">Agrify&#8217;s Q3 Revenue Drop, $18.6M Loss Amid New Leadership</a></li>
</ul>
Photo: Courtesy of YARphotographer via Shutterstock

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

FLGC

Flora Growth Quarterly Revenue Falls 28% YoY As Expenses Rise

<ul>
<li>FUJI SOFT Board unanimously resolved to recommend KKR's tender offer and oppose Bain Capital's proposal</li>
<li>Tender offer expected to launch middle of next week with price of 9,451 yen per share; shareholders and share option holders who tendered into first tender offer to be made whole if second tender offer succeeds</li>
</ul>
KKR, a leading global investment firm, today announced that in connection with its two-stage tender offer scheme (the "Tender Offer") for the common shares and share options of FUJI SOFT INCORPORATED (TSE stock code 9749; "FUJI SOFT") through FK Co., Ltd. (the "Offeror"), the Offeror, an entity owned by investment funds managed by KKR, will conduct the Second Tender Offer at a price of 9,451 yen per common share. KKR expects to commence the Second Tender Offer as soon as the middle of next week.

KKR Receives Support And Recommendation From FUJI SOFT For Second Tender Offer And Expects To Launch Tender Offer Next Week

Goldman Sachs analyst Vitor Tomita maintains Grupo Televisa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TV#NYSE">TV</a>) with a Buy and lowers the price target from $2.9 to $2.5.

Price Target

Analyst Ratings

Goldman Sachs Maintains Buy on Grupo Televisa, Lowers Price Target to $2.5

Terreno Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold the flex industrial portion of a seven-building Terreno Realty Corporation property located in Union City, California on November 14, 2024 for a sale price of approximately $13.0 million.
The property consists of two industrial flex buildings containing 37,000 square feet on 3.9 acres which are 100% leased to 20 tenants. The property was purchased by Terreno Realty Corporation on December 10, 2014 for approximately $5.1 million. The unleveraged internal rate of return generated by the investment was 18.8%.

Asset Sales

TRNO

Terreno Realty Corporation Sells Property In Union City, CA For $13M

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/11/14/final-trades-bitcoin-abbvie-and-baker-hughes.html">Halftime Report Final Trades</a>,&#8221; Jason Snipe of Odyssey Capital Advisors picked AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>).
On Monday, AbbVie said two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed two Phase 2 trials. The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the <a href="https://www.benzinga.com/general/biotech/24/11/41915173/abbvies-schizophrenia-failure-disappoints-but-analysts-show-confidence-in-immunology-portfolio">placebo group at week 6</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Stephen L. Weiss of Short Hills Capital Partners named Bitcoin as his <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41998395/bitcoin-ethereum-dogecoin-take-a-u-turn-as-jerome-powells-statements-dampen-rate-cut-expectations-analytics-firm-explains-why-btc-bull-market-has-not-yet-ended">final trade</a>.
Bitcoin prices pulled back as Federal Reserve Chair Jerome Powell&#8217;s remarks poured cold water on rate cut optimism. Bitcoin surged past the key $91,000 level on Thursday.
Joshua Brown of Ritholtz Wealth Management named Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>).
On Oct. 22, Baker Hughes reported quarterly earnings of 67 cents per share which beat the analyst consensus estimate of 61 cents per share. The company reported quarterly sales of $6.91 billion. It missed the analyst consensus estimate of $7.22 billion. 
On Thursday, Citigroup analyst Scott Gruber maintained Baker Hughes with a Buy and raised the price target from $42 to $50.
Price Action:
<ul>
<li>At the time of writing, Bitcoin prices fell around 1.5%</li>
<li>AbbVie shares fell by 0.4% to settle at $169.63 during Thursday's session.</li>
<li>Baker Hughes gained 0.3% to close at $43.18 during Thursday's session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41971544/jim-cramer-recommends-microsoft-praises-american-water-works-for-being-consistent">Jim Cramer Recommends Microsoft, Praises American Water Works For Being &#8216;Consistent&#8217;</a></li>
</ul>
Image: Shutterstock

Long Ideas

Media

Trading Ideas

ABBV

AbbVie, Bitcoin And An Energy Stock On CNBC's 'Final Trades'

<a href="https://www.globenewswire.com/Tracker?data=PomMWl7Q68X2BTRC0CL0p5s4xRBZn71wIxRXWp39fmpV7yGoHGELGOweHf8o6ULXFuodz6A96pD8bAqGBxPtwA==">LogicMark, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGMK#NASDAQ">LGMK</a>) (the "Company"), a provider of personal emergency response systems (PERS), health communications devices, and technology for the growing care economy, today announced that the Company's board of directors has approved a reverse stock split of its common stock at a ratio of 1 post-split share for every 25 pre-split shares.
The Company's board of directors also approved a corresponding 1-for-25 reverse stock split ratio for its Series C preferred stock, which will occur simultaneously with the reverse stock split of its common stock. The reverse stock splits were approved at a Special Meeting of Stockholders, held on October 1, 2024, and the reverse stock split of the common stock is intended to bring the Company into compliance with Nasdaq's $1.00 per share minimum bid price requirement for continued listing on the Nasdaq Capital Market. The Company expects that the common stock will begin trading on a split-adjusted basis at the open of trading on Tuesday, November 19, 2024, under the new CUSIP number 67091J 602, and each of the reverse stock splits will be effective as of 5:00 p.m. Eastern Time on November 18, 2024, upon the filing of the applicable certificates with the Secretary of State of the State of Nevada.

Stock Split

LGMK

LogicMark, Inc. Announces 1-For-25 Reverse Stock Splits, Expects That The Common Stock Will Begin Trading On A Split-Adjusted Basis At The Open Of Trading On Tuesday, November 19, 2024, Under The New CUSIP Number, 67091J 602

Goldman Sachs analyst Brooke Roach maintains Tapestry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>) with a Buy and raises the price target from $58 to $66.

Goldman Sachs Maintains Buy on Tapestry, Raises Price Target to $66

Macro Economic Events

Econ #s

Economics

USA Manufacturing Production (MoM) For October -0.5% Vs -0.5% Est.; -0.3% Prior

<ul>
<li>TSLA</li>
<li>ASTS</li>
<li>LUNR</li>
<li>NVDA</li>
<li>RKLB</li>
<li>SMCI</li>
<li>BABA</li>
<li>AI</li>
<li>AMAT</li>
<li>LOT</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

AMAT

ASTS

BABA

LUNR

NVDA

RKLB

SMCI

TSLA

Top 10 Trending Stocks On WallStreetBets As Of November 15, 2024 (Via Swaggy Stocks)

USA Industrial Production (MoM) For October -0.3% Vs -0.3% Est.; -0.5% Prior

Goldman Sachs analyst Caitlin Burrows maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a Neutral and raises the price target from $31 to $35.

Goldman Sachs Maintains Neutral on Tanger, Raises Price Target to $35

Compass CEO Robert Reffkin predicts Zillow, worth around $17 billion, will eventually become the nation's de facto Multiple Listing Service (MLS). This shift would <a href="https://www.benzinga.com/general/24/03/37919926/new-rule-change-could-be-worst-thing-ever-for-realtors-and-great-news-for-homebuyers-with-this-real">mark a significant change in real estate industry dynamics</a>. Don't Miss:
<ul>
<li>This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
<li>‘Beating the market through ethical real estate investing' —<a href="https://www.benzinga.com/money/invest-with-roots"> this platform aims to give tenants equity in the homes they live in while scoring 17.38% average annual returns for investors – here&#8217;s how to join with just $100</a></li>
</ul>
Initially reported by Inman, the prediction came during a discussion at the National Association of Realtors (NAR) annual conference last Friday amid ongoing debates over listing policies.
&#8220;I think if you were going to build an MLS today … I think it would be national,&#8221; Reffkin said during the &#8220;Future of the MLS&#8221; session. &#8220;There wouldn&#8217;t be 548. At some point, there will be a national MLS.&#8221;
His comments come as the industry grapples with changes to commission structures and listing practices following a recent legal decision. The traditional model of seller-paid commissions is evolving, with new rules eliminating commission information from MLS listings.
Trending: During market downturns, investors are learning that unlike equities, these<a href="https://www.benzinga.com/money/connect-invest-real-estate-notes"> high-yield real estate notes that pay 7.5% &#8211; 9% are protected by resilient assets, buffering against losses.</a>
Reffkin praised Zillow&#8217;s business strategy while criticizing existing industry rules. &#8220;They were able to get access to all the listings and then charge referral fees on all the listings. It&#8217;s a great business model and those are rules that you&#8217;ve created, so they&#8217;re the winner,&#8221; he said.
Zillow&#8217;s Chief Industry Development Officer, Errol Samuelson, defended the current MLS system. &#8220;At its essence, the reason the MLS is so important is it is an unbiased, open, two-sided marketplace where there is equal access to information,&#8221; Samuelson said. &#8220;If it didn&#8217;t exist, we would feel obliged to invent it.&#8221;
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
The debate intensifies as the industry adapts to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37798094/settlement-shake-up-nars-418m-agreement-reshapes-real-estate-dynamics">court-mandated changes in agent compensation</a>. Traditional practices of sellers paying both agents&#8217; commissions face scrutiny, with new requirements for explicit buyer-broker agreements.
&#8220;Any time we have the opportunity to have a conversation with the consumer about the value that we bring to the transaction … that&#8217;s a good thing,&#8221; NAR President Kevin Sears said, addressing the broader changes in commission structures, in an August USA Today report.
According to Stephen Brobeck of the Consumer Federation of America, the evolving landscape could reshape the industry within five years. &#8220;For consumers, things are not going to change much in the immediate future,&#8221; Brobeck told USA Today. &#8220;But it&#8217;s like a dam that&#8217;s springing a leak.&#8221;
See Also: This company is giving accredited investors an opportunity to invest in this $2 billion fund, <a href="https://www.benzinga.com/money/ignite-funding">with three decades in business they boast an impressive track record of double-digit returns.</a>
The new rule threatens smaller brokerages while potentially strengthening Zillow&#8217;s market position, supporting Reffkin&#8217;s prediction about the future of listing services in America.
Art Carter, CEO of California Regional MLS, highlighted the difficulty of managing industry changes across diverse stakeholder interests. &#8220;My top three brokers all have three different opinions on policy,&#8221; Carter said. The debate over listing policies and market structure continues as the industry searches for a balance between traditional practices and technological innovation in an increasingly digital real estate landscape.
Read Next:
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<li>Unlock the hidden potential of commercial real estate —<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>
<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>

Real Estate

$17 Billion Zillow To Become The MLS, Predicts Compass CEO In NAR Showdown

Federal employees are concerned over President-elect Donald Trump&#8217;s pick, Robert F. Kennedy Jr., to lead the Department of <a href="https://www.benzinga.com/government/regulations/24/11/41993115/trump-taps-rfk-jr-for-health-secretary-role-sends-5-vaccine-stocks-lower" target="_blank" rel="noreferrer noopener">Health and Human Services</a>.
What Happened: Employees within the U.S. Food and Drug Administration (FDA) and the National Institutes of Health (NIH) are worried about Kennedy being in charge, given his critical stance on mainstream medical practices and vaccines.
Kennedy, who received Trump&#8217;s blessing to &#8220;<a href="https://www.benzinga.com/markets/cannabis/24/11/41828359/could-trumps-go-wild-on-health-invite-to-rfk-jr-drive-changes-for-cannabis-and-psychedelics">go wild on health</a>,&#8221; has stated intentions to overhaul various aspects of the federal health agencies. 
One plan is to slash the NIH&#8217;s 27 divisions to 15, according to NPR.
Joel Zinberg, a senior fellow at conservative think tanks, <a href="https://www.npr.org/2024/11/12/nx-s1-5183014/trump-election-2024-nih-rfk?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=Scan%20Weds%202024-11-13&amp;utm_term=The%20Scan%20Bulletin" target="_blank" rel="noreferrer noopener">blamed</a> the pandemic for eroding public trust in agencies like the NIH and suggested that reforms might restore confidence.
See Also: <a href="https://www.benzinga.com/general/biotech/24/11/42006119/who-calls-vaccines-absolutely-critical-as-trumps-appointment-of-rfk-jr-pulls-pzifer-moderna-stocks-downhill">WHO Calls Vaccines &#8216;Absolutely Critical&#8217; As Trump&#8217;s Appointment Of RFK Jr Pulls Pzifer, Moderna Stocks Downhill</a>
Why It Matters: Regarding the FDA, Kennedy will likely <a href="https://www.newsweek.com/rfk-jr-fda-departments-trump-presidency-1981671">eliminate</a> entire departments, such as the nutrition division. He also voiced plans <a href="https://www.benzinga.com/government/regulations/24/11/41936736/fda-commissioner-califf-candid-on-trumps-impact-we-just-dont-know-whats-going-to-happen" target="_blank" rel="noreferrer noopener">for broader reforms</a>.
Some employees are reportedly contemplating departure before Kennedy Jr. even arrives.
Former and current staff cited concerns stemming from Kennedy&#8217;s potential influence and previous positions as reasons for their apprehension.
One official <a href="https://www.nbcnews.com/health/health-news/fda-employees-consider-handle-rfk-jr-leaving-rcna180115" target="_blank" rel="noreferrer noopener">told</a> NBC News that despite initial concerns during Trump&#8217;s first term, there was &#8220;relatively little turnover,&#8221; with employees managing to align with new priorities, such as faster drug approval processes. 
However, the current atmosphere has a heightened sense of unease due to Kennedy&#8217;s potential involvement.
During an interview, FDA commissioner Robert Califf said he is &#8220;disappointed&#8221; about the election&#8217;s outcome. &#8220;I think we just don&#8217;t know what&#8217;s going to happen.&#8221;
While it remains to be seen what exact role Kennedy might hold, he has proposed an aggressive restructuring, including appointing new staff to replace 600 NIH employees.
Pharmaceutical Research and Manufacturers of America, a drug industry lobby group, <a target="_blank" href="https://phrma.org/resource-center/Topics/Leaders/PhRMA-Statement-on-HHS-Nomination" rel="noreferrer noopener">said</a>,&#8221; This industry is a crown jewel of the American economy, giving American patients more medicine choices than anywhere else in the world and supporting millions of high-paying, high-tech jobs around the country.
We want to work with the Trump administration to further strengthen our innovation ecosystem and improve health care for patients.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/24/11/41987123/blood-cancer-focused-blueprint-medicines-could-be-attractive-target-for-partnerships-analyst-initiates-with-around-30-upside" target="_blank" rel="noreferrer noopener">Blood Cancer-Focused Blueprint Medicines Could Be &#8216;Attractive Target For Partnerships&#8217;: Analyst</a></li>
</ul>
Image: Shutterstock

Biotech

Government

Health Care

Politics

General

Robert Kennedy Poised To Lead Health And Human Services: Why FDA, NIH Officials Are Nervous

Canaccord Genuity analyst Austin Moeller maintains Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) with a Buy and raises the price target from $11 to $12.5.

Canaccord Genuity Maintains Buy on Intuitive Machines, Raises Price Target to $12.5

CNS Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) reported quarterly losses of $(0.25) per share which missed the analyst consensus estimate of $(0.12) by 108.33 percent. This is a 99.54 percent increase over losses of $(54.14) per share from the same period last year.

CNSP

CNS Pharmaceuticals Q3 EPS $(0.25) Misses $(0.12) Estimate

Goldman Sachs analyst Will Nance maintains Paymentus Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAY#NYSE">PAY</a>) with a Neutral and raises the price target from $23.5 to $33.

Goldman Sachs Maintains Neutral on Paymentus Holdings, Raises Price Target to $33

On November 15, 2024, in connection with a one-for-two reverse stock split (the "Reverse Stock Split") of the common stock, $0.01 par value per share (the "Common Stock") of Wheeler Real Estate Investment Trust, Inc. (the "Company"), to be effective on November 18, 2024, the Company filed two Articles of Amendment to its charter with the State Department of Assessments and Taxation of Maryland that provide for:
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i.a one-for-two Reverse Stock Split of the Common Stock, to be effective at 5:00 p.m. Eastern Time (the&nbsp;"Effective Time") on November 18, 2024 (the "First Amendment"); and
ii.the par value of the Common Stock to be decreased from $0.02 per share (as a result of the one-for-two Reverse Stock Split) to $0.01 per share, to be effective at 5:01 p.m. Eastern Time on November 18, 2024 (the "Second Amendment").
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Pursuant to the First Amendment, no fractional shares will be issued in connection with the Reverse Stock Split; rather, stockholders who would have otherwise been issued a fractional share of the Common Stock as a result of the Reverse Stock Split will instead receive a cash payment in lieu of such fractional share in an amount equal to the applicable fraction multiplied by the closing price of the Company's Common Stock on The Nasdaq Capital Market on November 18, 2024 (as adjusted for the Reverse Stock Split), without any interest.
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The foregoing descriptions of the amendments to the Company's charter do not purport to be complete and are qualified in their entirety by reference to each amendment, copies of which are filed as Exhibit 3.1 and Exhibit 3.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
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Effect of Reverse Stock Split on Common Stock
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At the market open on November 19, 2024 (the first business day after the Effective Time), the Common Stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market under a new CUSIP number (963025846).
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The Reverse Stock Split will apply to all of the outstanding shares of Common Stock as of the Effective Time, with a corresponding adjustment to the outstanding partnership units of the Company's operating partnership, Wheeler REIT, L.P. It therefore will not affect any particular stockholder's relative ownership percentage of shares of Common Stock, except for de minimis changes resulting from the payment of cash in lieu of fractional shares. The Reverse Stock Split will also not affect the relative voting or other rights that accompany the shares of Common Stock, except to the extent that it results from a stockholder receiving cash in lieu of fractional shares. There will be no change to the number of authorized shares of the Common Stock as a result of the Reverse Stock Split. The Company's trading symbol will remain unchanged, but the CUSIP number for the Company's registered Common Stock will be changed to 963025846.
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In connection with the Reverse Stock Split, adjustments will be made to the number of shares of Common Stock issuable upon conversion of the Company's convertible securities.
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