Latest news for Valeo Pharma (OTC:VPHIF) Stock

Valeo Pharma Inc is a Canadian specialty pharmaceutical company focused on acquiring either through acquisitions, in-licensing, or similar arrangements. The company operates in two divisions: Branded prescription products and hospital specialty products. Its product portfolio includes medicines for Respiratory/Allergy, Ophthalmology, Neurology, and Oncology.

Biotech

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Tempest Therapeutics, Inc. - Common Stock

TPST

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VPHIF

ZNTL

Here&#39;s a roundup of top developments in the biotech space over the last 24 hours:

Scaling The Peaks

(Biotech Stocks Hitting 52-week Highs June 28)

The Daily Biotech Pulse: Sanofi Bets Big On mRNA Tech, Decision Day For MediWound, DiaMedica Issues Kidney Disease Data Readout

Previews

IPOs

Trading Ideas

AFMD

ALXO

ANGN

ATOS

AZRX

CERC

CTXR

EVAX

IMAB

INSM

KRYS

Kintara Therapeutics, Inc. - Common Stock

KTRA

MRNA

NRBO

NVCR

OCUP

OPTN

PRVB

PTCT

RCKT

Biotech stocks reversed course and closed the week ended June 25 higher, thanks to the positive broader market sentiment.

The Week Ahead In Biotech: Mediwound, Provention FDA Decisions, IPOs, Pending Clinical Readouts In Focus

Valeo Pharma Inc

S&amp;P Global Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) reported quarterly adjusted EPS of $4.04, which beat the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $3.65</a> and represented a 30% increase year over year.
Quarterly sales were $3.55 billion, beating the analyst consensus estimate of $3.42 billion and representing a 14% increase <a target="_blank" href="https://investor.spglobal.com/Quarterly-Earnings/" rel="noreferrer noopener">year over year</a>, driven by growth in all divisions.
Adjusted operating profit margin increased 450 basis points to 50.7%, primarily due to revenue growth in its Ratings and Indices divisions.
S&amp;P Global generated $1.5 billion in free cash flow for the quarter.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39551553/leadership-shuffle-at-s-p-global-picks-insider-martina-cheung-as-ceo" rel="noreferrer noopener">Leadership Shuffle At S&amp;P Global: Picks Insider Martina Cheung As CEO</a>
Buyback: S&amp;P Global expects to execute additional accelerated share repurchases (ASR) totaling $1.5 billion in the coming weeks.
Outlook:&nbsp;S&amp;P Global raised its full-year 2024 revenue outlook from to 8.0% &#8211; 10.0% (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38441140/s-p-global-reports-q1-results-raises-revenue-guidance" rel="noreferrer noopener">prior 6% &#8211; 8%</a>) versus the consensus of $13.55 billion. The company sees full-year adjusted EPS of $14.35 &#8211; $14.60 (prior $13.85 &#8211; $14.10), versus <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the $14.33 estimate</a>.&nbsp;
S&amp;P Global stock gained 24% in the last 12 months.
<h2 class="wp-block-heading">Is SPGI A Good Stock To Buy?</h2>
Wall Street analysts view S&amp;P Global on the whole as a Outperform, given the history of coverage over the past three months. Alex Kramm from UBS in S&amp;P Global is the most optimistic, expecting a 9.9% rise in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, S&amp;P Global rose 16.8%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 14.45% over the past year.
A complete overview of how Wall Street views individual stocks is available <a href="https://www.benzinga.com/analyst-stock-ratings">here</a>, while real time updates on the latest analyst actions will be delivered via <a href="https://pro.benzinga.com">Benzinga PRO</a>. Try it for free.
Price Action: SPGI shares are up 0.01% at $489.90 at the last check Tuesday.
Image via Unsplash/ Headway

Guidance

Buybacks

SPGI

Credit Rating Company S&P Global Q2 Sales Rise 14%, Boosts Guidance

Salarius Pharmaceuticals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NYSE">SLRX</a>) short percent of float has risen 215.43% since its last report. The company recently reported that it has 59 thousand shares sold short, which is 10.22% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Salarius Pharmaceuticals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722364220_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Salarius Pharmaceuticals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Salarius Pharmaceuticals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Salarius Pharmaceuticals's peer group average for short interest as a percentage of float is 8.53%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

SLRX

(SLRX) - Analyzing Salarius Pharmaceuticals's Short Interest

Synopsys's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NYSE">SNPS</a>) short percent of float has fallen 4.58% since its last report. The company recently reported that it has 3.81 million shares sold short, which is 2.5% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.61 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Synopsys Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722364215_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Synopsys has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Synopsys's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Synopsys's peer group average for short interest as a percentage of float is 3.39%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

SNPS

How Is The Market Feeling About Synopsys?

Krystal Biotech's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRYS#NYSE">KRYS</a>) short percent of float has risen 4.43% since its last report. The company recently reported that it has 3.67 million shares sold short, which is 16.96% of all regular shares that are available for trading. Based on its trading volume, it would take traders 13.21 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Krystal Biotech Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722364210_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Krystal Biotech has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Krystal Biotech's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Krystal Biotech's peer group average for short interest as a percentage of float is 14.74%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(KRYS) - Analyzing Krystal Biotech's Short Interest

Snoop Dogg will open his first coffeeshop, Smoke Weed Every Day (S.W.E.D.), in Amsterdam on August 1. The coffeeshop represents an important part of S.W.E.D.'s global expansion strategy. Earlier this month, Snoop Dogg launched his <a href="https://www.benzinga.com/markets/cannabis/24/07/39733952/snoop-dogg-to-open-weed-stores-in-la-amsterdam-named-after-iconic-smoke-weed-every-day-motto">first SW.E.D. store in Los Angeles</a>.
The news comes on the heels of the popular rapper and entrepreneur stealing the show at the Paris Olympics when he <a href="https://www.benzinga.com/markets/cannabis/24/07/40001496/snoop-dogg-steals-the-show-at-paris-olympics-dances-with-torch-cheers-on-us-swimmers-who-take-fi" target="_blank" rel="noreferrer noopener">danced with the Olympic torch</a> in hand. Snoop, who has been a long-time advocate for the legalization and responsible use of cannabis, went to France very aware that smoking weed for recreational use is forbidden there. He previously announced he'll be coming "<a href="https://www.benzinga.com/markets/cannabis/24/06/39514385/snoop-dogg-isnt-worried-weed-is-illegal-in-france-as-he-heads-over-to-cover-olympics-with-nbc-im" target="_blank" rel="noreferrer noopener">clean as a book.</a>"
When it comes to Europe's weed capital, Snoop chose to open a cafe that exhibits his passion for cannabis culture. S.W.E.D. is said to be more than just a coffee shop – it is designed as a cultural hub that embodies the artist's idea of a premium cannabis experience.
&#8220;Amsterdam has always embraced cannabis, and so have I," stated Snoop Dogg. "It&#8217;s only right that I bring S.W.E.D. global to this iconic city that understands the joy of great cannabis and a good time.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39772379/snoop-dogg-launches-2pac-limited-collection-honoring-legendary-rapper-who-gave-him-his-first-blu" target="_blank" rel="noreferrer noopener">Snoop Dogg Launches 2Pac Limited Collection Honoring Legendary Rapper Who Gave Him His First Blunt</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30054101/SWED-Bar2_lores-1024x683.jpg" alt="S.W.E.D. Amsterdam Snoop Dogg cannabis coffeeshop" class="wp-image-464325" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30054101/SWED-Bar2_lores-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30054101/SWED-Bar2_lores-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30054101/SWED-Bar2_lores-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30054101/SWED-Bar2_lores-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30054101/SWED-Bar2_lores.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Various Products Handpicked By Snoop Himself</h2>
S.W.E.D. will offer various products, exclusive strains, artisan edibles and cannabis accessories, all handpicked by Snoop himself. Its location is easily accessible and in an area popular for its vibrant nightlife and cultural significance.
The coffeshop spans two floors, offering a spacious and inviting environment for guests. The ground floor is a retail space with seating areas for those who want to enjoy their purchases in a relaxed setting. The urban decor features graffiti with images and phrases associated with Snoop Dogg.
The basement level is designed to enhance the social experience, with additional seating and a cozy lounge area perfect for gathering.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39612472/mike-tyson-to-open-first-branded-retail-store-in-amsterdam-a-city-that-always-held-a-special-pla" target="_blank" rel="noreferrer noopener">Mike Tyson To Open First Branded Retail Store In Amsterdam, A City That Always Held A Special Place In His Heart</a></li>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39735573/snoop-doggs-blunt-roller-will-be-judge-in-ohios-first-joint-rolling-contest-at-stargazer-cannabi" target="_blank" rel="noreferrer noopener">Snoop Dogg&#8217;s Blunt Roller Will Be Judge In Ohio&#8217;s First Joint-Rolling Contest At Stargazer Cannabis Festival</a></li>
</ul>
Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Courtesy photos

Cannabis

Eurozone

Snoop Dogg Rolls Out First Cannabis Coffeeshop In Amsterdam: 'It's Only Right That I Bring S.W.E.D. Global To This Iconic City'

<a href="https://www.wsj.com/politics/elections/project-2025-head-steps-down-89cba52b?st=u8fg3lf99n7uv94&amp;mod=googlenewsfeed" title="https://www.wsj.com/politics/elections/project-2025-head-steps-down-89cba52b?st=u8fg3lf99n7uv94&amp;mod=googlenewsfeed">https://www.wsj.com/politics/elections/project-2025-head-steps-down-89cba52b?st=u8fg3lf99n7uv94&amp;mod=googlenewsfeed</a>

Politics

'Head Of Project 2025 Steps Down Following Trump Criticism' - Wall Street Journal

E-commerce giant Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is making a big bet on live sports rights, paying billions for NBA rights. Could the move help boost subscribers of the Amazon<a href="https://www.benzinga.com/topic/amazon-prime-video"> Prime Video streaming platform?</a>
What Happened: Benzinga recently asked followers on social media if the <a href="https://www.benzinga.com/general/entertainment/24/07/39733479/nba-fans-rejoice-new-76b-deal-from-espn-amazon-nbc-will-bring-games-seven-days-a-week">new NBA rights deal</a> would lead to them subscribing to Prime Video.
"Will you sign up for Amazon Prime to watch the NBA?" Benzinga <a href="https://x.com/Benzinga/status/1816476416659124294">asked</a>.
The results were:
<ul>
<li>Yes: 10.2%</li>
<li>No: 56.5%</li>
<li>Already Have It: 33.3%</li>
</ul>
The poll found that a third of respondents already have Amazon Prime Video. Over half of those polled said they would not be subscribing to Amazon Prime Video just to watch NBA games. Only 10% or around 15% of current non-subscribers said they would sign up for Amazon Prime for NBA games.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">Amazon Q1 Earnings Highlights: Revenue Beat, EPS Beat, AWS Hits $100-Billion Annual Run Rate And More</a>
Why It's Important: While the poll had a small sample size, it could be a bad sign for the billions spent on NBA rights.
Amazon is paying a reported $1.8 billion annually for the rights to national NBA games that it will air during the season on Thursdays, Fridays and Saturdays. Amazon Prime Video will also be the home of the NBA In-Season Tournament and NBA Playoffs series as part of the deal.
Adding NBA rights to Prime Video makes the streaming platform <a href="https://www.benzinga.com/general/sports/24/06/39215473/amazon-makes-prime-bet-on-sports-with-nba-deal-streaming-platform-will-have-content-from-4-major-l">even more </a>sports-focused going forward, with the rights to the NFL's "Thursday Night Football" and NASCAR rights beginning in 2025. Amazon will also be the distribution partner for Diamond Sports Group in the future, which is the home of regional sports coverage for several MLB, NBA and NHL teams.
The move by Amazon to add NBA rights could lead to more advertising revenue as it <a href="https://www.benzinga.com/news/24/07/40042764/amazon-challenges-netflix-with-cheaper-ad-slots-boosts-prime-video-ads-report">ramps up its advertising efforts </a>on the streaming platform.
Another potential negative for Amazon's NBA deal could be a legal battle playing out between the sports league and existing rights holder Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>).
Also Read: <a href="https://www.benzinga.com/general/entertainment/24/03/37809533/mrbeast-confirms-beast-games-on-amazon-prime-video-with-1-000-contestants-5m-prize-its-gonn">MrBeast Calls &#8216;Beast Games&#8217; On Amazon Prime Video With 1,000+ Contestants, $5M Prize &#8216;An Insane Show&#8217;</a>
Warner Bros. Discovery sued the NBA over losing the rights to Amazon and its decision to match the contract being rejected by the league.
&#8220;Given the NBA&#8217;s unjustified rejection of our matching of a third-party offer, we have taken legal action to enforce our rights,&#8221; TNT Sports said in a statement reported by ESPN.
Warner Bros. Discovery said it had the contractual right to match Amazon's offer and filed the lawsuit with the New York Supreme Court.
The lawsuit comes after NBA commissioner Adam Silver said the "digital opportunities with Amazon align perfectly with the global interest in the NBA."
"And Prime Video's massive subscriber base will dramatically expand our ability to reach our fans in new and innovative ways," Silver said.
Amazon has over 200 million monthly viewers for Prime Video <a href="https://variety.com/2024/digital/news/amazon-prime-video-200-million-monthly-viewers-tv-advertising-ceo-1235967913/">according </a>to CEO Andy Jassy.
The company's rights to "Thursday Night Football" games have been cited in the past for helping add subscribers and the NBA and other sports rights could play out similarly.
Amazon&#8217;s NFL rights<a href="https://www.benzinga.com/news/23/10/35146521/amazon-is-winning-its-bet-on-nfl-rights-a-look-at-the-numbers-taylor-swift-upside" target="_blank" rel="noreferrer noopener">&nbsp;have successfully increased</a>&nbsp;Prime Video subscriptions and garnered high viewership ratings. The company&nbsp;<a href="https://variety.com/2023/tv/news/most-watched-shows-2023-ncis-oscars-blue-bloods-super-bowl-yellowstone-1235854795/" target="_blank" rel="noreferrer noopener">landed&nbsp;</a>11 spots on the top 100 primetime broadcasts of 2023, with six Thursday Night Football games ranking among the 50 most-watched primetime events in the U.S. in 2023.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39915544/could-warner-bros-vs-amazon-battle-be-brewing-for-nba-rights-mark-cuban-shares-his-suggesti">Could Warner Bros. Vs. Amazon Battle Be Brewing For NBA Rights? Mark Cuban Shares His Suggestion</a></li>
</ul>
Image: Shutterstock

Entertainment

Sports

Exclusives

AMZN

Will NBA Rights Move The Needle For Amazon Prime Video Subscribers? Benzinga Poll Shows Small Impact From New Deal

Legal

Amazon Sues Nokia Alleging Patent Infringement

Alliance Global Partners analyst Brian Kinstlinger maintains Redwire (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>) with a Buy and raises the price target from $7 to $8.25.

Price Target

Analyst Ratings

Alliance Global Partners Maintains Buy on Redwire, Raises Price Target to $8.25

<a href="https://www.autonews.com/china/china-ev-maker-byd-preps-enter-canadian-market" title="https://www.autonews.com/china/china-ev-maker-byd-preps-enter-canadian-market">https://www.autonews.com/china/china-ev-maker-byd-preps-enter-canadian-market</a>

'China's BYD Preparing To Enter Canadian EV Market, Documents Show' - Automotive News

For the first half of 2024, <a href="https://www.benzinga.com/topic/semiconductors">computer and semiconductor names</a> like Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) could no wrong. Hype around artificial intelligence and heightened demand for chips helped push share prices higher, creating what <a href="https://www.benzinga.com/markets/equities/24/07/39943580/nasdaq-100-notches-worst-session-since-late-2022-falls-below-key-50-day-moving-average-is-the-ai">some experts have called a bubble. </a>But so far, in the second half of the year, the run in technology has faltered. The Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), a fund that tracks the NASDAQ 100, is down more than 5% throughout the last month. 
In the last month, Dell's stock is down 25%, Nvidia's more than 15%, while AMD is down around 13%. See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036499/amd-q2-report-looms-as-nvidia-rival-struggles-with-key-headwinds-will-overcorrected">AMD Q2 Report Looms As Nvidia Rival Struggles With Key Headwinds: Will &#8216;Overcorrected&#8217; Stock Vindicate Itself?</a>
Earnings <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40007545/as-tesla-stock-reels-after-a-rough-week-following-earnings-top-analyst-defends-elon">reports from companies like</a> Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) drove their respective stocks lower, creating more uncertainty among investors in the tech community. 
Why Are Semis Trading Lower? There are a number of potential reasons why the semiconductor industry has struggled throughout the last few weeks. The first six months of the year were so strong for the group of stocks that it's reasonable to expect them to pull back and come down to earth at some point. After all, the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), which tracks semi-names like NVIDIA and AMD, is still up around 20% YTD, despite a 10% drawdown in the last month. And while there is still a substantial amount of hype around the AI opportunity, some analysts have begun expressing doubts about how long it will take for companies to realize the benefits of their expensive investments in the developing technology. 
Upcoming earnings this week from names like Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and other tech companies actively investing in AI could shed more light on how much return they are seeing now. AMD is also set to report earnings Tuesday after the bell, having fallen more than 35% from its high in March. Read Next:
<ul>
<li> <a href="https://www.benzinga.com/trading-ideas/technicals/24/07/40018320/stock-of-the-day-microsofts-upcoming-earnings-could-signal-market-shift-at-key-resistanc">Stock Of The Day: Microsoft&#8217;s Upcoming Earnings Could Signal Market Shift At Key Resistance</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

Specialty ETFs

Tech

ETFs

DELL

GOOG

GOOGL

MSFT

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

TSLA

Dell, Nvidia, AMD Stocks Tumble As Semiconductor Rally Stalls

Greenway Greenhouse Cannabis Corporation (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GWAY#CSE">GWAY</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/GWAYF#OTCQB">GWAYF</a>) reported its audited annual financial statements Tuesday for the year ended March 31, 2024.
The Canada-based company reported a net loss of CA$4.7 million ($3.4 million) for the period, representing an increase from a CA$2.6 million loss in the previous year.
&#8220;Over the course of the last fiscal year, the cannabis sector has faced intense competition and substantial price compression amid difficult market conditions," Jamie D&#8217;Alimonte, CEO of Greenway said. "Our team began to slowly see prices rebound over the year, and I am happy to report that our revenue in Q4 was up 9% from the previous year. With the total Canadian market continuing to evolve, we are confident that Greenway is one of the best-positioned companies in the cannabis sector.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/10/35222387/canadian-cannabis-cultivator-ramps-up-distribution-channels-via-new-partnership">Canadian Cannabis Cultivator Ramps Up Distribution Channels Via New Partnership</a>
FY Financial Highlights:
Total grams or grams equivalent sold during the year of 5,548,692, a 33% increase from the previous fiscal year.
Net revenue totaled CA$ 5,230,194 for the year, representing a 7% year-over-year decrease.
Fourth quarter net revenue totaled CA$1,482,194, an increase of 9% from the same period in the prior fiscal year.
For the period the company averaged CA$0.74 per gram of cash costs, within the target of management&#8217;s CA$0.75 expected annual cash cost per gram.
A weighted average cash cost per gram of CA$0.60 of finished goods inventory on hand as of March 31, 2024.
Liabilities as of March 31, 2024 consist of accounts payable and accrued liabilities of CA$1,390,240, a 59% decrease from March 31, 2023
During the period the company closed a non-brokered private placement for gross proceeds of CA$3,500,000 as well as launched first consumer products into the Ontario marketplace.
&#8220;This year, we&#8217;ve achieved record sales volumes, dramatically reduced liabilities, launched our first consumer brands in Ontario, completed a $3.5m private placement, and after our year-end received the accreditation necessary to begin exporting Greenway cannabis internationally," D&#8217;Alimonte continued. "Our team has been working to open up new avenues for our products, and to diversify our revenue."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/09/34951623/greenway-greenhouse-cannabis-launches-first-brands-in-the-canadian-market">Greenway Greenhouse Cannabis Launches First Brands In The Canadian Market </a></li>
</ul>
To learn more about cannabis stocks, come join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

CSE:GWAY

GWAYF

Greenway's Full-Year Net Loss Widens, Sees Rebound In Q4 As Revenue Increases 9% YoY

GLJ Research analyst Gordon Johnson maintains Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) with a Sell and raises the price target from $9.1 to $12.28.

CSIQ

GLJ Research Maintains Sell on Canadian Solar, Raises Price Target to $12.28

Microsoft Azure Says Unexpected Usage Spike Resulted In Errors

Cantor Fitzgerald analyst Troy Jensen reiterates Proto Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>) with a Overweight and maintains $44 price target.

Reiteration

PRLB

Cantor Fitzgerald Reiterates Overweight on Proto Labs, Maintains $44 Price Target

RBC Capital analyst Geoffrey Kwan upgrades Chesswood Group (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CHW#TSX">CHW</a>) from Underperform to Sector Perform and lowers the price target from C$7 to C$3.5.

Upgrades

TSX:CHW

RBC Capital Upgrades Chesswood Group to Sector Perform, Lowers Price Target to C$3.5

American Tower (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amt#NYSE">AMT</a>) came out with quarterly funds from operations (FFO) of $2.79 per share, beating the Zacks Consensus Estimate of $2.53 per share. This compares to FFO of $2.46 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of 10.28%. A quarter ago, it was expected that this wireless communications infrastructure company would post FFO of $2.55 per share when it actually produced FFO of $2.79, delivering a surprise of 9.41%.
Over the last four quarters, the company has surpassed consensus FFO estimates four times.
American Tower, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $2.9 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $2.77 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management&#39;s commentary on the earnings call.
American Tower shares have lost about 0.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 14.5%.
What&#39;s Next for American Tower?
While American Tower has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for American Tower: favorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $2.61 on $2.87 billion in revenues for the coming quarter and $10.45 on $11.17 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Medical Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>), has yet to report results for the quarter ended June 2024.
This health care real estate investment trust is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -56.3%. The consensus EPS estimate for the quarter has been revised 2.8% higher over the last 30 days to the current level.
Medical Properties&#39; revenues are expected to be $258.43 million, down 23.4% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2311599/american-tower-amt-surpasses-q2-ffo-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2311599">To read this article on Zacks.com click here.</a>

Earnings Beats

REIT

Markets

Real Estate

American Tower Surpasses Q2 FFO and Revenue Estimates

Four major pharmaceutical companies involved in the first U.S. negotiations over Medicare drug prices expect limited business impact despite <a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/36915357/biden-administration-to-send-pharma-companies-opening-offers-for-medicare-programs-first-ever-dru" rel="noreferrer noopener">anticipated price cuts</a>.
Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), and AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) expressed this outlook after reviewing confidential government pricing set to take effect in 2026.
Reuters noted that executives shared their perspectives during recent quarterly conference calls.
Related: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37535013/medicares-ambitious-drug-price-negotiation-plan-president-joe-biden-calls-to-expand-targeted-medi" rel="noreferrer noopener">Medicare&#8217;s Ambitious Drug Price Negotiation Plan: President Joe Biden Calls To Expand Targeted Medicines To 50 Annually by 2029</a>.
The Medicare program, covering 66 million Americans aged 65 and older or with disabilities, spends billions annually on medications.
It plans to cut drug list prices by at least 25% in 2026, with official announcements <a href="https://www.benzinga.com/general/biotech/23/12/36410940/pharmaceutical-giants-brace-for-showdown-as-medicare-drug-price-negotiations-are-poised-for-2024" target="_blank" rel="noreferrer noopener">expected by Sept. 1</a>.
&#8220;I think the drugmakers were frightened (these prices) would be a big deal. But now, the ones who have reported or commented have actually said it seems to be OK and in line with expectations,&#8221; Reuters noted, citing a UBS analyst&#8217;s interview.
Under President Joe Biden&#8217;s 2022 Inflation Reduction Act, the Medicare agency identified the 100 most expensive drugs and <a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/34087337/biden-targets-cancer-diabetes-drugs-in-controversial-medicare-price-battle-wants-to-cut-billions-" rel="noreferrer noopener">selected 10 for price negotiations</a>.
Chris Boerner, CEO of Bristol Myers, expressed confidence in navigating the impact on the blood thinner Eliquis, co-marketed with Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>).
However, he and Robert Michael, CEO of AbbVie, reiterated concerns about government &#8220;price setting&#8221; potentially stifling innovation.
The IRA empowers Medicare to negotiate prices for costly drugs, potentially leading to price cuts ranging from the statutory minimum <a target="_blank" href="https://www.benzinga.com/government/24/01/36849742/medicares-historic-negotiations-to-lower-drug-prices-analysts-anticipate-upto-potential-price-cuts-o" rel="noreferrer noopener">of 25% to a significant 60%</a>.&nbsp;
AbbVie CEO Michael confirmed that the anticipated sales impact of its leukemia drug Imbruvica has been factored into its forecasts, while Jennifer Taubert, a J&amp;J executive, maintained a positive long-term growth outlook despite the expected discounts for Stelara and Xarelto.
Citing an analyst at J.P. Morgan, Reuters noted that the responses from Bristol Myers and J&amp;J indicate more manageable price cuts than initially feared.
An AstraZeneca executive indicated that minimal impact is expected by the time new prices take effect due to competition from generic versions of its diabetes drug Farxiga.
Guggenheim Partners analyst added that other drugs on the initial list, including Merck &amp; Co Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) Januvia and Amgen Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) Enbrel, are also expected to face generic competition by 2029.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40045943/incytes-q2-earnings-wider-than-expected-loss-pipeline-review-lifts-jakafi-sales-gui" target="_blank" rel="noreferrer noopener">Incyte&#8217;s Q2 Earnings: Wider Than Expected Loss, Pipeline Review, Lifts Jakafi Sales Guidance</a>.</li>
</ul>
Image: Shutterstock

Government

Large Cap

Regulations

Health Care

ABBV

AMGN

Bristol Myers, Johnson & Johnson, AbbVie, AstraZeneca Expect Minimal Impact From Upcoming Medicare Price Negotiations

H&amp;E Equipment (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hees#NASDAQ">HEES</a>) came out with quarterly earnings of $0.91 per share, missing the Zacks Consensus Estimate of $1 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -9%. A quarter ago, it was expected that this construction and industrial equipment service provider would post earnings of $0.73 per share when it actually produced earnings of $0.71, delivering a surprise of -2.74%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
H&amp;E Equipment, which belongs to the Zacks Manufacturing - Construction and Mining industry, posted revenues of $376.28 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.19%. This compares to year-ago revenues of $360.23 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
H&amp;E Equipment shares have added about 1.2% since the beginning of the year versus the S&amp;P 500&#39;s gain of 14.5%.
What&#39;s Next for H&amp;E Equipment?
While H&amp;E Equipment has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for H&amp;E Equipment: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.28 on $416.85 million in revenues for the coming quarter and $4.13 on $1.58 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Construction and Mining is currently in the bottom 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>), is yet to report results for the quarter ended June 2024. The results are expected to be released on August 6.
This construction equipment company is expected to post quarterly earnings of $5.53 per share in its upcoming report, which represents a year-over-year change of -0.4%. The consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level.
Caterpillar&#39;s revenues are expected to be $16.76 billion, down 3.2% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2311591/h-e-equipment-hees-q2-earnings-and-revenues-miss-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2311591">To read this article on Zacks.com click here.</a>

Earnings Misses

HEES

H&E Equipment Q2 Earnings and Revenues Miss Estimates

A Phase 2b clinical trial presented at the Alzheimer&#8217;s Association International Conference (AAIC) 2024 reveals that Novo Nordisk A/S&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) older generation GLP-1 drug, liraglutide, may slow cognitive decline by protecting the brain.
Related: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/40041991/novo-nordisks-ozempic-reduces-smoking-related-health-interventions-in-diabetic-patients-study-fin" rel="noreferrer noopener">Novo Nordisk&#8217;s Ozempic Reduces Smoking-Related Health Interventions In Diabetic Patients, Study Finds</a>.
GLP-1 (Glucagon-Like Peptide-1) drugs are a class of medications primarily used to treat type 2 diabetes and, in some cases, obesity.
GLP-1 receptor agonists mimic the natural hormone glucagon-like peptide and help manage diabetes, promote weight loss, and reduce heart disease, stroke, and kidney disease risks.
Animal studies indicate these drugs may also have neuroprotective effects, reducing early forms of amyloid and normalizing brain glucose processing.
The study <a target="_blank" href="https://www.prnewswire.com/news-releases/glp-1-drug-liraglutide-may-protect-against-dementia-302209255.html" rel="noreferrer noopener">included</a> 204 patients with mild Alzheimer&#8217;s across 24 UK clinics. Participants received up to 1.8 mg of liraglutide or a daily placebo for a year.
The primary endpoint, change in cerebral glucose metabolic rate (an assessment of brain function), was not met. However, significant benefits were observed in secondary endpoints like clinical and cognitive measures and brain volume changes.
Those on liraglutide experienced almost 50% less brain volume loss in critical regions such as the frontal, temporal, and parietal lobes.
Cognitive testing before and after treatment showed an 18% slower decline in cognitive function among those on liraglutide compared to the placebo group.
Cognitive function was measured using a composite score from 18 different tests. The study also reported gastrointestinal issues, such as nausea, as the most common side effects, but serious side effects were relatively rare.
Further research is warranted, but current late-stage trials of GLP-1 analogs, like the EVOKE Plus trial of semaglutide, are well-positioned to explore these findings further.
Reuters noted that its two trials began in 2021 and results are expected in 2025.
Liraglutide, marketed as Saxenda for weight loss and Victoza for diabetes, has already been approved by the FDA.
Price Action: NVO stock is up 0.50% at $128.69 at the last check on Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/m-a/24/07/39916116/insulin-device-maker-embecta-weighs-sale-after-70-share-decline-following-becton-dickinson-spin-off" target="_blank" rel="noreferrer noopener">Insulin Device Maker Embecta Weighs Sale After 70% Share Decline Following Becton Dickinson Spin-Off</a>.</li>
</ul>
Photo via Shutterstock

Media

Novo Nordisk's Older Weight Loss Drug May Slow Cognitive Decline in Alzheimer's Patients, Small Study Shows Brain-Protecting Benefits

Valeo Pharma Inc (TSE:VPH) has released an update. Valeo Pharma Inc. is set to make waves at the 2024 Bloom Burton & Co. Healthcare Investor Confer...

Valeo Pharma to Spotlight at Major Healthcare Conference

Valeo Pharma Inc (TSE:VPH) has released an update. Valeo Pharma Inc. has successfully conducted its annual shareholder meeting, resulting in the re...

Valeo Pharma Shareholders Endorse Management

Valeo Pharma (TSE:VPH) has released an update. Valeo Pharma Inc., a Canadian pharmaceutical company, has scheduled its earnings call for the second...

Valeo Pharma Announces Q2 2024 Earnings Call

Canada's Valeo Pharma cuts jobs amid push for cost savings

Valeo Pharma (TSE:VPH) has released an update. Valeo Pharma Inc. is streamlining its commercial field operations to improve profit margins and redu...

Valeo Pharma Targets Profitability with Restructuring

Valeo Pharma reports Q2 results

Valeo Pharma (TSE:VPH) has released an update. Valeo Pharma has reported a record increase in Q2-2024 revenues, reaching $14.1 million, a 4% rise f...

Valeo Pharma Achieves Record Q2 Revenue Growth

In a report released today, Stefan Quenneville from Echelon Wealth Partners reiterated a Buy rating on Valeo Pharma (VPHIF – Research Report), with...

Valeo Pharma's Strategic Restructuring and Growth Prospects Affirm Speculative Buy Rating

Valeo Pharma appoints senior executive and Board of Director change

Valeo Pharma (TSE:VPH) has released an update. Valeo Pharma Inc. has appointed Mr. Al Moghaddam as Chief Development Officer, a position focused on...

Valeo Pharma Welcomes New Chief Development Officer

Press Releases

VALEO PHARMA ANNOUNCES BOARD OF DIRECTORS CHANGES

VALEO PHARMA TO HOST FIRST QUARTER 2024 RESULTS CONFERENCE CALL / WEBCAST

VALEO PHARMA REPORTS FIRST QUARTER 2024 RESULTS

VALEO PHARMA ANNOUNCES APPOINTMENT OF MR. AL MOGHADDAM TO BOARD OF DIRECTORS

VALEO PHARMA TO PRESENT AT THE 2024 BLOOM BURTON & CO HEALTHCARE INVESTOR CONFERENCE

VALEO PHARMA ANNOUNCES RESULTS OF ANNUAL MEETING OF SHAREHOLDERS

VALEO PHARMA TO HOST SECOND QUARTER 2024 RESULTS CONFERENCE CALL / WEBCAST

VALEO PHARMA ANNOUNCES RESTRUCTURING OF COMMERCIAL FIELD OPERATIONS TO SUPPORT PATH TO PROFITABILITY

VALEO PHARMA REPORTS RECORD SECOND QUARTER 2024 REVENUES

VALEO PHARMA ANNOUNCES SENIOR EXECUTIVE APPOINTMENT AND BOARD OF DIRECTORS CHANGE

CSE:VPH

TSX:VPH

Valeo Pharma

Here&#39;s a roundup of top developments in the biotech space over the last 24 hours:

<h3>Scaling The Peaks</h3>

(Biotech Stocks Hitting 52-week Highs June 28)

<ul>
	<li>Alexion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALXN#NASDAQ">ALXN</a>)</li>
	<li>Anavex Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) (<a href="https://www.benzinga.com/general/biotech/21/06/21549318/anavex-life-sciences-alzheimers-candidate-mechanism-of-action-explained-in-medical-journal">announced </a> positive Phase 2 data for Parkinson&#39;s disease dementia treatment)</li>
	<li>AtriCure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATRC#NASDAQ">ATRC</a>)</li>
	<li>Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) (moved ahead of its earnings report)</li>
	<li>Axonics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXNX#NASDAQ">AXNX</a>)</li>
	<li>Catalyst Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRX#NASDAQ">CPRX</a>) (announced out-licensing of Firdapse for rare autoimmune neuromuscular disorder)</li>
	<li>Celldex Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>)</li>
	<li>Graphite Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPH#NASDAQ">GRPH</a>) (IPOed Friday)</li>
	<li>Globus Medical, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>)</li>
	<li>Harvard Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBIO#NASDAQ">HBIO</a>)</li>
	<li>Horizon Therapeutics Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HZNP#NASDAQ">HZNP</a>)</li>
	<li>Intellia Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>) (reacted to positive Phase 1 data for gene editing therapy in treating transthyretin amyloidosis)</li>
	<li>Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>)</li>
	<li>MediWound Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) (moved ahead of a PDUFA event)</li>
	<li>Molecular Partners AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOLN#NASDAQ">MOLN</a>)</li>
	<li>Protagonist Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTGX#NASDAQ">PTGX</a>)</li>
	<li>Verve Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERV#NASDAQ">VERV</a>)</li>
	<li>West Pharmaceutical Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WST#NYSE">WST</a>)</li>
	<li>Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
</ul>

<h3>Down In The Dumps</h3>

(Biotech Stocks Hitting 52-week Lows June 28)

<ul>
	<li>Achilles Therapeutics plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHL#NASDAQ">ACHL</a>)</li>
	<li>Elevation Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELEV#NASDAQ">ELEV</a>) (IPOed Friday)</li>
	<li>Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) (reacted to negative Phase 3 readout for Cabometyx combo therapy in previously untreated liver cancer patients)</li>
	<li>Gemini Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMTX#NASDAQ">GMTX</a>)</li>
	<li>Global Blood Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GBT#NASDAQ">GBT</a>)</li>
	<li>IMV Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMV#NASDAQ">IMV</a>)</li>
	<li>Mersana Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRSN#NASDAQ">MRSN</a>)</li>
	<li>Monte Rosa Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLUE#NASDAQ">GLUE</a>) (IPOed Thursday)</li>
	<li>ORIC Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORIC#NASDAQ">ORIC</a>)</li>
	<li>Tempest Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPST#NASDAQ">TPST</a>) (announced the completion of its reverse merger with Millendo Therapeutics)</li>
	<li>Terns Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TERN#NASDAQ">TERN</a>)</li>
</ul>

<h3>Stocks In Focus </h3>

<h3>DiaMedica Reports Positive Phase 2 Data For DM199 In Chronic Kidney Disease Patients </h3>

DiaMedica Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMAC#NASDAQ">DMAC</a>) announced positive interim results from its Phase 2 REDUX trial of DM199 in chronic kidney disease. DM199, the company noted, is demonstrating clinically meaningful improvements in kidney function in Cohorts 1 and 2, as measured by a simultaneously stabilizing estimated glomerular filtration rate and decreasing urine albumin-to-creatinine ratio.

In participants who were hypertensive, DM199 also reduced blood pressure by clinically significant levels.

The stock was seen adding 8.65% to $7.79 in premarket trading.

<h3>Sensei Reprioritizes Pipeline Program,&nbsp;Cash Runway To Extend To H1&#39;24 </h3>

Sensei Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSE#NASDAQ">SNSE</a>) said it is reprioritizing its pipeline programs to focus on its product candidates, including its multi-antigenic next generation ImmunoPhage candidate, now referred to as SNS-401-NG, and its monoclonal antibody SNS-VISTA candidate.

With this reallocation of resources, Sensei said it expects its cash and cash equivalents will be sufficient to fund its operations into the first half of 2024.

The stock was down 8.13% at $9.95 in premarket trading.

<h3>Addex Commences Phase 2b/3 Study In Dyskinesia Associated With Parkinson&#39;s Disease </h3>

Addex Therapeutics Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>) announced screening of patients has started for its pivotal Phase 2b/3 study with dipraglurant for dyskinesia associated with Parkinson&#39;s disease. Dyskinesia is believed to be caused by increased glutamatergic neurotransmission. Dipraglurant selectively targets the metabotropic glutamate receptor subtype 5 to downregulate this neurotransmission through allosteric modulation.

<h3>Gilead Sciences Completes Regulatory Filing For Drug To Treat Multidrug-Resistant HIV-1 Patients </h3>

Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) said it has completed submission of a new drug application to the FDA seeking approval of lenacapavir, an investigational, long-acting HIV-1 capsid inhibitor, for the treatment of HIV-1 infection in heavily treatment-experienced people with multidrug-resistant HIV-1 infection.

Lenacapavir is an investigational compound and is not approved by any regulatory authority for any use and its safety and efficacy are not established.

In premarket trading, Gilead shares were edging up 0.15% to $67.80.

<h3>Achieve Says Enrollment Target Achieved In Late-Stage Study Of Cytisinicline For Smoking Cessation</h3>

Achieve Life Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHV#NASDAQ">ACHV</a>) announced that the Phase 3 ORCA-2 trial of cytisinicline has reached its enrollment target of 750 adult smokers. The ORCA-2 trial sites are no longer enrolling new subjects, however those currently in screening will be allowed to participate provided they meet entry criteria, the company added.

The stock was moving up 0.96% at $9.44 in premarket trading.

<h3>Arbutus Announces Clinical Collaboration To Study Triple Combo Therapy For Hepatitis B Virus Infection </h3>

Arbutus Biopharma Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABUS#NASDAQ">ABUS</a>) and Antios Therapeutics announced that the companies have entered into a clinical collaboration agreement to evaluate a triple combination of Arbutus&#39; proprietary GalNAc delivered RNAi therapeutic, AB-729, Antios&#39; proprietary active site polymerase inhibitor nucleotide, ATI-2173&nbsp;and Viread for the treatment of subjects with chronic hepatitis B virus infection.

Related Link: <a href=" https://www.benzinga.com/general/biotech/21/06/21728194/the-week-ahead-in-biotech-mediwound-provention-fda-decisions-ipos-pending-clinical-readouts-in-fo"> The Week Ahead In Biotech: Mediwound, Provention FDA Decisions, IPOs, Pending Clinical Readouts In Focus </a>

<h3>Sanofi To Set Up mRNA Vaccine Center With Annual Spend of $476M </h3>

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) said it will invest approximately 400 million euros ($476 million)&nbsp;annually in a first-of-its kind vaccines mRNA Center of Excellence. The center, according to the company, will work to accelerate the development and delivery of next-generation vaccines by bringing together approximately 400 dedicated employees integrating end-to-end mRNA vaccine capabilities. 
The Center of Excellence will enable acceleration of the vaccines mRNA portfolio developed through the Translate Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) collaboration established in 2018 and expanded in 2020, it added.

Sanofi shares were shedding 0.51% to $52.95 in after-hours trading.

<h3>Cerevel Reports Positive Early Stage Data For Schizophrenia Drug </h3>

Cerevel Therapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERE#NASDAQ">CERE</a>) announced positive results from its Phase 1b clinical trial of CVL-231 in adult patients with schizophrenia. CVL-231 was generally well-tolerated, and discontinuation rates were similar between CVL-231 and placebo in the six weeks of dosing, at 22% each.

Both the 30 mg once-daily and the 20 mg twice-daily doses demonstrated clinically meaningful antipsychotic activity with an overall well-tolerated profile compared with placebo.

The stock was gaining 4.22% to $13.10 in premarket trading.

<h3>Setback For Catalyst As Health Canada Reissues Notice of Compliance To Rival Drug To Firdapse </h3>

Catalyst Pharmaceuticals said it is disappointed with Health Canada&#39;s decision to re-issue a notice of compliance for Jacobus Pharma&#39;s Ruzurgi, allowing the product to be marketed in Canada for the treatment of Lambert-Eaton myasthenic syndrome.

Health Canada&#39;s original NOC for Ruzurgi for marketing in Canada was quashed in a recent decision of the Federal Court of Canada, which sent the matter back to Health Canada to re-determine its decision to grant marketing authority to Ruzurgi despite Firdapse&#39;s data protection rights under Canadian law. Firdapse is Catalyst&#39;s drug approved for treating LEMS in adults.

<h3>Offerings </h3>

Zentalis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZNTL#NASDAQ">ZNTL</a>) priced its underwritten public offering of 3.1 million shares of its common stock at $48.50 per share&nbsp;for total gross proceeds of approximately $150.4 million. All of the common stock is being offered by Zentalis. 

The stock was losing 1.92% to $48.06 in after-hours trading.

Aligos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGS#NASDAQ">ALGS</a>) said it has commenced an underwritten public offering of 4 million shares of common stock. All of the shares of common stock are being offered by Aligos. 

In premarket trading, the stock was falling 7.37% to $22.

Intellia, which rallied Monday on <a href="https://www.benzinga.com/general/biotech/21/06/21739131/intellia-shares-shoot-higher-on-promising-biomarker-data-from-crisprcas9-genome-editing-candidate">data, </a> said it has commenced an underwritten public offering of $400 million in&nbsp;shares of its common stock. All of the shares in the proposed offering are to be sold by Intellia.

The stock was rising 1.18% to $135 in premarket trading.

<h3>On The Radar </h3>

<h3>PDUFA Dates </h3>

The Food and Drug Administration is scheduled to rule on MediWound Ltd.&#39;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) biologic license application for NexoBrid for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns. MediWound, an Israeli biopharma, has granted the North American license to NexoBrid to Vericel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCEL#NASDAQ">VCEL</a>) under a May 2019 agreement. The PDUFA goal date is set for Tuesday, June 29.

<h3>Earnings </h3>

Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) (Tuesday, after the close) 
Valeo Pharma Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VPHIF#OTC">VPHIF</a>) (Tuesday, after the close)

Related Link: <a href="https://www.benzinga.com/general/biotech/21/05/21351378/the-week-ahead-in-biotech-asco-presentations-front-and-center-fda-decisions-due-for-scynexis-limi"> Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates </a>

Biotech stocks reversed course and closed the week ended June 25 higher, thanks to the positive broader market sentiment.

Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) stood out among big pharma stocks&nbsp;as it capitalized on its announcement regarding its intention to apply for regulatory approval of its Alzheimer&#39;s candidate <a href="https://www.benzinga.com/news/21/06/21700062/lillys-donanemab-receives-u-s-fdas-breakthrough-therapy-designation-for-treatment-of-alzheimers-dise">donanemab</a>.

Coronavirus vaccine stocks&nbsp; Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) experienced some weakness mid-week after a CDC panel <a href="https://www.benzinga.com/general/biotech/21/06/21690245/moderna-pfizer-stocks-fall-after-cdc-panel-flags-heart-inflammation-risk-in-young-adults-receivin">found</a> correlation between the companies&#39; mRNA&nbsp;vaccines and cases of heart inflammation in young adults.

Atossa Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOS#NASDAQ">ATOS</a>) was among the biggest gainers of the week&nbsp;as recent news flow continued to impart momentum to the stock. The stock is set to join the Russell 2000 and 3000 Indexes next week.

The week also witnessed presentations at several medical conferences, with the International Liver Congress being the chief among them, and a slew of biotech IPOs.

Here are the key catalysts for the unfolding week.

<h3>Conferences</h3>

The European Society for Medical Oncology, or ESMO, World Congress on Gastrointestinal Cancer: June 30-July 3

Related Link: <a href="https://www.benzinga.com/general/biotech/21/06/21639499/14-biotech-stocks-to-watch-over-the-next-6-months">14 Biotech Stocks To Watch Over The Next 6 Months</a>

<h3>PDUFA Dates</h3>

The Food and Drug Administration is scheduled to rule on MediWound Ltd.&#39;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) biologic license application for NexoBrid for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns. MediWound, an Israeli biopharma, has granted the North American license to NexoBrid to Vericel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCEL#NASDAQ">VCEL</a>) under a May 2019 agreement. The PDUFA goal date is set for Tuesday, June 29.

The FDA will also announce its verdict on Provention Bio, Inc.&#39;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRVB#NASDAQ">PRVB</a>) BLA for teplizumab by the July 2 PDUFA goal date. Teplizumab is an investigational anti-CD3 monoclonal antibody being evaluated for the delay or prevention of clinical type 1 diabetes in at-risk individuals.

<h3>Clinical Trials/Presentations</h3>

ALX Oncology Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALXO#NASDAQ">ALXO</a>) will present at the ESMO meeting additional results from a Phase 1b study (ASPEN-01) of ALX148 in combination with trastuzumab, ramucirumab and paclitaxel in patients with HER2-positive gastric/gastroesophageal junction cancer. (Thursday)

Pending Q2/H1/June Releases 

Q2 Releases 

I-Mab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMAB#NASDAQ">IMAB</a>): results from the interim analysis of Phase 2 study of plonmarlimab in COVID-19

AzurRx BioPharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZRX#NASDAQ">AZRX</a>): full topline results from all 20 patients enrolled in the combination trial evaluating MS1819 in combination with porcine-derived pancreatic enzyme replacement therapy, the current standard of care, for the treatment of severe exocrine pancreatic insufficiency in cystic fibrosis patients

Evaxion Biotech A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVAX#NASDAQ">EVAX</a>): Phase 1/2a data readouts for lead programs EVX-01 in melanoma/non-small cell lung cancer/bladder cancer and EVX-02 as adjuvant treatment for melanoma

Cerecor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERC#NASDAQ">CERC</a>): initial data for CERC-002 in Crohn&#39;s disease

OptiNose, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTN#NASDAQ">OPTN</a>): topline results from the proof-of-concept study of OPN-019 in subjects who have tested positive for SARS-CoV-2 recently and who have mild or no symptoms

Citius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTXR#NASDAQ">CTXR</a>): results from the interim analysis of Phase data for Mino-Lok for treating catheter-related bloodstream infection

Insmed Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INSM#NASDAQ">INSM</a>): topline data from the investigator-initiated STOP-COVID19 Phase 3 trial of brensocatib in hospitalized patients with COVID-19

Rocket Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>): updated process B data from Phase 1/2 study of RP-L102 in Fanconi anemia

PTC Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>): Phase 1 data for PTC857 in healthy volunteers

NeuroBo Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRBO#NASDAQ">NRBO</a>): data monitoring committee safety results of the Phase 1 study of ANA001 in moderate to severe COVID-19 patients

NovoCure Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCR#NASDAQ">NVCR</a>): full data from phase 2 pilot HEPANOVA trial in advanced liver cancer

Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) &amp; Takeda Pharmaceutical Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>): top-line results from the phase 3 COSMIC-312 pivotal trial evaluating the combination of cabozantinib and atezolizumab as a first-line treatment in advanced hepatocellular carcinoma

Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>): topline Phase 2 results for VAL-083 in unmethylated recurrent glioblastoma multiforme

H1 Releases 

Angion Biomedica Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGN#NASDAQ">ANGN</a>): topline Phase 2 data for ANG-3777 in acute lung injury associated with COVID-19-related pneumonia and Phase 1 data for ANG-3070 from healthy volunteer study

Krystal Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRYS#NASDAQ">KRYS</a>): updated Phase 2 data on KB105 for transglutaminase-1 deficient autosomal recessive congenital ichthyosis

Longeveron Inc. (LGVN): final results of the Phase 1 HLHS study of lomecel-B for hypoplastic left heart syndrome

June Releases 

Altimmune, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALT#NASDAQ">ALT</a>): Data readouts from Phase 1 study of AdCOVID, its intranasal vaccine candidate for COVID-19, and ALT-801 study

Ocuphire Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUP#NASDAQ">OCUP</a>): Phase 2 Presbyopia data for a kit combination of Nyxol and low-dose 0.4% pilocarpine

<h3>Earnings</h3>

Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) (Tuesday, after the close)

Valeo Pharma Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VPHIF#OTC">VPHIF</a>) (Tuesday, after the close)

Affimed N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFMD#NASDAQ">AFMD</a>) (Thursday, before the market open)

Related Link: <a href="https://www.benzinga.com/general/biotech/21/06/21621339/orphazyme-wild-party-at-risk-as-fda-rejects-its-rare-neurodegenerative-disease-drug">Orphazyme Wild Party At Risk As FDA Rejects Its Rare Neurodegenerative Disease Drug</a>

<h3>IPOs</h3>

IPO Pricing 

Hong Kong-based Regencell Bioscience Holdings Limited is proposing to offer 2.3 million shares in an initial public offering. The company expects to price the IPO between $8.50 and $10.50 and has applied to list the shares on the Nasdaq under the ticker symbol RGC. Regencell focuses on treatments for neurocognitive disorders and degeneration, specifically attention deficit hyperactivity disorder and autism spectrum disorder.

Minnesota-based medical device maker CVRx has filed for offering 6.25 million shares of its common stock in an IPO. The estimated price range for the offering is $15-$17. The commercial-stage medical device company focused on developing and commercializing minimally invasive neuromodulation solutions for patients with cardiovascular diseases expects to list its shares on the Nasdaq under the ticker symbol CVRX.

Acumen Pharmaceuticals, Inc., a clinical-stage biopharma working on Alzheimer&#39;s disease treatment, is planning an 8.33-million share IPO at an estimated price range of $14-$16. The Charlottesville, Virginia-based company has applied for listing its shares on the Nasdaq under the ticker symbol ABOS.

Boston, Massachusetts-based Aerovate Therapeutics, Inc. has filed for offering 7.15 million shares in an IPO. The clinical-stage biopharma focusing on treatments for cardiopulmonary diseases expects the offering to be priced between $13 and $15. The company has applied for listing its shares on the Nasdaq under the ticker symbol AVTE.

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