Pieris Pharmaceuticals Stock (NASDAQ: PIRS)

Pieris Pharmaceuticals (NASDAQ:PIRS) Stock, Quote.Headers.trade-ideas

Pieris Pharmaceuticals

Pieris Pharmaceuticals Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of the Anticalin class of biotherapeutics. Anticalin proteins are engineered versions of lipocalins, human proteins that naturally bind, store, and transport a wide spectrum of molecules. The Company's clinical pipeline consists of immuno-oncology, or IO, bispecifics in partnership with collaborators, including S095012 (also referred to as PRS-344) targeting PD-L1 and 4-1BB, SGN-BB228 (also referred to as PRS-346) targeting CD228 and 4-1BB, and BOS-342 (also referred to as PRS-342) targeting GPC3 and 4-1BB. Geographically, all the operations of the firm function through the region of the United States.

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Pieris Pharmaceuticals Inc

The week was buzzing with a whirlwind of news. From Taylor Swift&#8217;s sales soaring despite Trump&#8217;s predictions to AOC challenging Musk&#8217;s DOGE agenda, the news cycle was anything but dull. Here&#8217;s a quick recap of the top stories that made headlines.
Swift&#8217;s Sales Soar Despite Trump&#8217;s Predictions
Contrary to President-elect Donald Trump&#8217;s forecast, Taylor Swift&#8217;s sales have not taken a hit after she endorsed Vice President Kamala Harris. Swift continues to reign supreme in concerts, movies, and streaming lists. Her new &#8220;Eras Tour Book&#8221; is also enjoying immense success. The book offers fans a glimpse into the record-breaking Eras Tour with photos and behind-the-scenes stories.
<a href="https://www.benzinga.com/general/entertainment/24/12/42351922/trump-predicted-taylor-swift-sales-would-drop-target-data-shows-over-800k-sold">Read the full article here.</a>
AOC Challenges Musk&#8217;s DOGE Agenda
Rep. Alexandria Ocasio-Cortez (D-N.Y.) has responded to Elon Musk's call for defunding the American Civil Liberties Union. She also criticized proposed cuts by the Musk-headed Department of Government Efficiency. According to AOC, while the ACLU receives no taxpayer funds, proposals are being made by DOGE to cut funding for essential services, targeting some of the most vulnerable groups in society.
<a href="https://www.benzinga.com/news/24/12/42355184/aoc-challenges-musks-doge-agenda-slams-defund-the-aclu-call-by-trumps-efficiency-czar">Read the full article here.</a>
Trump&#8217;s Personnel Picks: Mixed Reactions
Trump&#8217;s picks for potential nominees for his Cabinet and other White House administration roles have sparked diverse reactions. While some of his choices, like Huckabee and Rubio, have been well-received, others like Kennedy, Oz, and McMahon have faced disapproval.
<a href="https://www.benzinga.com/news/management/24/12/42354639/donald-trumps-personnel-picks-voters-like-huckabee-rubio-picks-disapprove-of-kennedy-oz-mcmahon">Read the full article here.</a>
Trump&#8217;s FBI Pick Kash Patel&#8217;s Wealth Growth
Kash Patel, Trump&#8217;s pick to lead the Federal Bureau of Investigation, has seen his wealth grow through various avenues, including Trump Media &amp; Technology Group. Patel is a loyal Trump supporter and has previously worked for him on the National Security Council.
<a href="https://www.benzinga.com/politics/24/12/42278429/trump-fbi-pick-kash-patels-wealth-has-grown-from-trump-media-board-position-consulting-deal-and-trump-themed-childrens-books">Read the full article here.</a>
Potential Fallout Between Musk and Trump
ARK Invest&#8217;s Cathie Wood has weighed in on the potential repercussions of a possible fallout between President-elect Donald Trump and Elon Musk on Musk's companies, Tesla Inc. and SpaceX. Wood acknowledged the strong personalities of both individuals and the potential risks associated with such a dynamic.
<a href="https://www.benzinga.com/24/12/42260398/how-a-potential-fallout-between-elon-musk-and-trump-could-impact-tesla-and-spacex-cathie-wood-weighs-in">Read the full article here.</a>
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Photo courtesy: Wikimedia
 This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

Politics

Taylor Swift Defies Trump's Predictions, AOC Challenges Musk's DOGE Agenda, And More: This Week In Politics

Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) today announced positive updated Phase 3 data of an exploratory cohort from the ACCESS-1 trial investigating its first-in-class pozelimab and cemdisiran (poze-cemdi) combination treatment against ravulizumab, a standard-of-care complement factor 5 (C5) inhibitor, in patients with paroxysmal nocturnal hemoglobinuria (PNH). Results were shared during an oral session at the American Society of Hematology (ASH) 2024 Annual Meeting and support continued development of poze-cemdi in PNH, including in a separate registrational cohort, as well as in other complement-mediated diseases. Poze-Cemdi is a first-in-class combination of an antibody and an siRNA targeting C5: pozelimab is a fully human monoclonal antibody designed to block the activity of C5, while cemdisiran is an investigational siRNA therapeutic that reduces circulating levels of C5.
Head-to-head exploratory cohort of a Phase 3 trial showed first-in-class poze-cemdi combination treatment helped patients achieve and maintain greater disease control, as measured by lactate dehydrogenase (LDH) levels, compared to standard-of-care ravulizumab
Five patients receiving ravulizumab did not achieve meaningful LDH control compared to one patient receiving poze-cemdi; after switching to the combination, four of the five previously treated with ravulizumab achieved LDH control
A separate registrational cohort is ongoing, investigating poze-cemdi against eculizumab

REGN

- Regeneron Announced Novel Combination Of Pozelimab And Cemdisiran Achieved Greater Control Of Intravascular Hemolysis In Patients With Paroxysmal Nocturnal Hemoglobinuria Vs Ravulizumab

<a href="https://www.globenewswire.com/Tracker?data=XEGcRXK7EisdfyqpSAHjBmx7wFKv7TZrvuA2SkGFbRMzqZ4HpDAgG4Jc2APS5_FkXpodqvA5yeWBOdGeFSuiWA==">Genmab A/S</a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMAB#NASDAQ">GMAB</a>) today announced new results from the Phase 1b/2 EPCORE&#xAE; NHL-2 trial evaluating fixed-duration epcoritamab, a T-cell engaging bispecific antibody administered subcutaneously, plus lenalidomide + rituximab (R2) in adult patients with relapsed or refractory (R/R) follicular lymphoma (FL). The results demonstrated an overall response rate (ORR) of 96 percent and a complete response (CR) rate of 87 percent among 111 patients after a median follow-up of two years. Additionally, the study showed an estimated 21-month progression-free survival (PFS) rate of 80 percent and a two-year overall survival (OS) rate of 90 percent. The data (Abstract #342) were shared today during an oral presentation at the 66th Annual Meeting and Exposition of the American Society of Hematology (ASH).
&nbsp;
<ul>
<li>Results show 96 percent overall response rate (ORR), 87 percent complete response (CR), and 80 percent 21-month progression-free survival (PFS) in patients with relapsed or refractory (R/R) follicular lymphoma (FL) following treatment with epcoritamab plus lenalidomide + rituximab (R2)</li>
<li>Long-term follow-up results demonstrated strong and durable efficacy, with an estimated two-year overall survival (OS) rate of 90 percent</li>
<li>Results follow recent breakthrough therapy designation (BTD) granted by U.S. Food and Drug Administration (FDA) and support ongoing Phase 3EPCORE&#xAE; FL-1 trial evaluating epcoritamab + R2 in patients with R/R FL</li>
</ul>
&nbsp;
&nbsp;

GMAB

Genmab Announced Investigational Epcoritamab Combination Therapy Demonstrates High Response Rates In Clinical Trial Of Patients With Relapsed Or Refractory Follicular Lymphoma At ASH Meeting; Results Show 96% Overall Response Rate

What if your next burger didn't come from a drive-thru or grill but a vending machine? That's the idea behind RoboBurger, the Jersey City startup hoping to reshape fast food with machines that whip up fresh, customizable burgers in under four minutes.&nbsp;
Cofounders Dan Braido, Audley Wilson, and Andy Siegel recently presented their ambitious pitch on ABC's Shark Tank. They aimed for $1.5 million in funding for just 5% of their company. A roller coaster of skepticism, surprises, and a deal followed.
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The pitch didn't start on a high note. Investor <a href="https://www.benzinga.com/personal-finance/24/09/40714364/survive-anything-kevin-oleary-claims-you-need-5-million-in-savings-heres-how-you-can-reach-that-">Kevin O'Leary</a> immediately labeled the presentation "chaotic" and demanded clarity on RoboBurger's profitability. "How do I make money? All the rest doesn't matter," he said.&nbsp;
Undeterred, the team demonstrated their $3,000-per-month vending machine, which turned out a "rethermalized" burger – a term that sparked some laughs. Mark Cuban joked it was "a fancy word for ‘reheated,'" though Braido clarified the patties are grilled in the machine, creating a crust while locking in the juices.
The Sharks agreed the burgers were tasty, but eyebrows shot up when the founders revealed a $30 million valuation.&nbsp;
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RoboBurger sold over 12,000 burgers during an 18-month beta test, with prices ranging from $5.99 to $6.99 and projected annual revenue of $1.4 million. However, with a $700,000 expected loss for the year, the request for $1.5 million seemed like a gamble.
Another point of contention was the financial model. RoboBurger leases machines for $3,000 per month or sells them outright, leaving buyers responsible for stocking. Mark Cuban warned that vending machines are costly to produce and maintain, calling them "hard capital assets" in an industry where technology quickly becomes outdated.&nbsp;
He suggested RoboBurger pivot to licensing its technology. Michael Rubin, Fanatics CEO and guest Shark, echoed the concerns. "How many businesses can realistically afford $3,000 a month plus food costs?" he asked. Still, Rubin saw potential, calling it a "big idea" with the possibility of scaling into a multibillion-dollar <a href="https://www.benzinga.com/startups/24/10/41191588/selling-a-business-for-3-7-billion-was-a-mistake-for-46-year-old-he-recounts-it-as-his-saddest-day-o">business</a>.
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Instead of an equity investment, Rubin proposed a $1.5 million loan with market-rate interest and a 10% equity stake. "This is a very high-risk project with a low probability of success," he said.&nbsp;
Barbara Corcoran criticized the offer as "greedy," but O'Leary warmed to it, calling it a "very Mr. Wonderful structure." Ultimately, O'Leary and Rubin agreed to split the deal, reducing their equity stake to 9% during negotiations.
As RoboBurger secured its $1.5 million, it joined a growing movement toward automation in food service. According to Allied Market Research, the global food vending machine market was valued at $18.3 billion in 2022 and is expected to grow 7.5% annually through 2032.&nbsp;
With consumer demand for convenience at an all-time high – Statista reports the U.S. quick-service restaurant (QSR) sector has grown consistently since 2004, reaching over $349 billion in consumer spending in 2023 – RoboBurger's timing could be just right.
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'Rethermalized' Burgers And A $30M Dream: RoboBurger Lands $1.5M Shark Deal After Selling 12,000 Burgers In Beta

<a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> voters, along with the broader electorate, expressed overwhelming confidence in the 2024 election process, a striking contrast to the <a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll">skepticism that marked the 2020 presidential race</a>.
With 88% of voters saying the 2024 elections were run well, up from just 59% in 2020, there&#8217;s a clear shift in perception — especially among Trump supporters, according to a Pew Research Center <a href="https://www.pewresearch.org/politics/2024/12/04/voters-broadly-positive-about-how-elections-were-conducted-in-sharp-contrast-to-2020/">poll</a>.
In the wake of Trump&#8217;s win, 93% of Trump voters believe the elections were &#8220;administered&#8221; well, a dramatic increase from only 21% who felt the same four years ago. This change in attitude highlights how the election&#8217;s outcome has reshaped their views on election integrity.
This newfound confidence is not limited to overall perceptions of election administration but extends to specific aspects of the voting process, including the accuracy of vote counts.
Trump voters, once highly skeptical, are now expressing substantial confidence in both in-person and mail-in vote counts.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/12/42377867/most-visited-wikipedia-pages-in-2024-trump-harris-musk-swift-politics-and-netflix-dominate-list" rel="noreferrer noopener">Most Visited Wikipedia Pages In 2024: Trump, Harris, Musk, Swift, Politics And Netflix Dominate List</a>
Today, 94% of Trump voters trust in-person ballots were counted correctly, a 30-point jump from 2020, Pew Research finds in the survey. Confidence in absentee ballots has also soared among Trump voters, from 19% in 2020 to 72% in 2024.
While Biden voters remain overwhelmingly confident in the accuracy of both voting methods, with 95% expressing trust in absentee ballot counts in 2020, Harris voters are slightly less confident in the 2024 election. However, 84% of Harris voters still believe elections were well-run, a strong showing that reflects broader approval of the election process.
This dramatic reversal in Trump voters&#8217; views marks a sharp departure from the contentious atmosphere surrounding the 2020 election, showing how the outcome of an election can dramatically shift perceptions of its fairness and execution.
For this analysis, Pew Research surveyed 9,609 U.S. adults, including 8,072 U.S. citizens who reported having voted in the November election. The survey was conducted Nov. 12-17, 2024.
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Trump Voters' Trust in Election Process Soars In Sharp Reversal To Post-2020 Feelings

Incyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) today announced results from the Phase 3 POD1UM-304 trial of retifanlimab (Zynyz&#xAE;), a humanized monoclonal antibody targeting programmed death receptor-1 (PD-1), in combination with platinum-based chemotherapy for the treatment of adults with previously untreated non-squamous and squamous metastatic non-small cell lung cancer (NSCLC) not harboring a driver mutation. These data were featured today in a mini oral presentation at the European Society for Medical Oncology (ESMO) Asia Congress 2024, held in Singapore and virtually.
&nbsp;
— Phase 3 POD1UM-304 trial met primary endpoint of overall survival (OS) and all secondary endpoints in patients with previously untreated metastatic non-small cell lung cancer (NSCLC)
— Data presented at the European Society for Medical Oncology (ESMO) Asia Congress 2024 support the planned 2025 filing of a supplemental Biologics License Application (sBLA) in the U.S. for retifanlimab in NSCLC

INCY

Incyte Announced Results From Phase 3 Trial Evaluating Retifanlimab In Combination With Platinum-based Chemotherapy In Patients With Non-small Cell Lung Cancer At ESMO Congress; Said Phase 3 POD1UM-304  Trial Met Primary Endpoint Of Overall Survival And All Secondary Endpoints In Patients With Previously Untreated Metastatic NSCLC

Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) today announced&nbsp;new data demonstrating that adding BLINCYTO&#xAE; (blinatumomab) to chemotherapy significantly improves disease-free survival (DFS) in newly diagnosed pediatric patients with National Cancer Institute (NCI) standard risk (SR) B-cell acute lymphoblastic leukemia (B-ALL) of average or higher risk of relapse. The data are from a Phase 3 study (AALL1731) conducted by the Children's Oncology Group. The results were simultaneously <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4319894-1&amp;h=1897591024&amp;u=http%3A%2F%2Fwww.nejm.org%2Fdoi%2Ffull%2F10.1056%2FNEJMoa2411680&amp;a=published">published</a>&nbsp;in the New England Journal of Medicine and will be presented during the plenary session on Sunday, Dec. 8, at 2 p.m. PT at the 66th American Society of Hematology (ASH) Annual Meeting &amp; Exposition in San Diego.
Based on the results of the first pre-specified interim analysis for efficacy, the study met its primary endpoint of DFS and study randomization was terminated early based on the recommendation from the data and safety monitoring committee due to the benefit observed in the BLINCYTO arm compared to the chemotherapy-only arm. Overall, the 3-year DFS was 96.0% for patients treated with chemotherapy plus BLINCYTO compared to 87.9% for those treated with only chemotherapy. The hazard ratio (HR) was 0.39 [95% confidence interval (CI) 0.24-0.64], indicating a 61% reduction in the risk of disease relapse, secondary malignant neoplasm or remission death with BLINCYTO. At 3 years, more patients remained alive and cancer free when treated with BLINCYTO plus chemotherapy compared to chemotherapy alone.

AMGN

Amgen Announced Blincyto Added To Chemotherapy Significantly Improves Survival In Newly Diagnosed Pediatric Patients With B-cell Precursor Acute Lymphoblastic Leukemia At ASH; Said Phase 3 Study Results Demonstrated Three Year, Disease-Free Survival of 96%

<a href="https://www.globenewswire.com/Tracker?data=iLZ9x69dnGVH2dDnn_bqKdcRxuqSk8c9oR7gIU98LWWR7EKFfy8SYnFEVh3zx6Q_3ZtiiGoWRO5HH5TVXoK6RKufAiNiO3mNqfmZfC89hSY=">Beam Therapeutics Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), a biotechnology company developing precision genetic medicines through base editing, today announced new safety and efficacy data from its BEACON Phase 1/2 clinical trial of BEAM-101 in patients with sickle cell disease (SCD) with severe vaso-occlusive crises (VOCs). The data were featured today in the press program for the 66th American Society of Hematology (ASH) Annual Meeting and Exposition in San Diego and will be presented in an oral session on Sunday, Dec. 8, 2024, at 10 a.m. PT.
All Seven Patients Treated with BEAM-101 Achieved Hemoglobin F (HbF) Induction of &gt;60%, Hemoglobin S (HbS) Reduction to &lt;40%, and Resolution of Anemia Post-BEAM-101 Treatment
Initial Safety Profile Consistent with Busulfan Conditioning and Autologous Hematopoietic Stem Cell Transplantation
All Seven Patients Dosed Achieved Target Cell Dose with One or Two Mobilization Cycles and Experienced Rapid Neutrophil and Platelet Engraftment
Markers of Hemolysis Normalized or Improved in All Patients

BEAM

Beam Therapeutics Announced New Data from BEACON Phase 1/2 Clinical Trial Of BEAM-101 In Sickle Cell Disease at ASH Meeting; Said All Seven Patients Treated With BEAM-101 Achieved Hemoglobin F (HbF) Induction Of >60%, Hemoglobin S (HbS) Reduction To <40%, And Resolution Of Anemia Post-BEAM-101 Treatment

Positive results from the pivotal LUNA 3 phase 3 study of rilzabrutinib in adults with persistent or chronic immune thrombocytopenia (ITP), a rare immune-mediated disease, reinforce the efficacy and safety of rilzabrutinib, an oral, reversible, covalent Bruton's tyrosine kinase (BTK) inhibitor, and further support its potential as a first-in-class treatment for ITP. Platelet response was achieved in 65% (n=86) of patients receiving rilzabrutinib compared to 33% (n=23) of patients on placebo. The primary endpoint was met, with rilzabrutinib demonstrating durable platelet response in 23% of ITP adult patients compared to 0% on the placebo arm (p&lt;0.0001), as well as key secondary endpoints including reduced bleeding, number of weeks with platelet response, the need for rescue therapy use, and improved physical fatigue and quality of life measures.

Sanofi Announced Rilzabrutinib Demonstrated Significant Patient Benefit In First Positive Phase 3 Study Of BTK Inhibitor In ITP At ASH; Said  Phase 3 Data Show Rapid And Durable Platelet Response, Reduced Bleeding And Need For Rescue Response

Y-mAbs Therapeutics, Inc. (the "Company" or "Y-mAbs") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YMAB#NASDAQ">YMAB</a>), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel radioimmunotherapy and antibody-based therapeutic products for the treatment of cancer, today announced the presentation of CD38-SADA in Non-Hodgkin Lymphoma (NHL) preclinical data and trial in progress posters at the 66th American Society of Hematology (ASH) Annual Meeting &amp; Exposition being held on December 7 –10, 2024, in San Diego, California.
A poster titled "CD38-SADA, a Self-Assembling and Dis-Assembling Bispecific Fusion Protein for Two-Step Pretargeted Radioimmunotherapy of Non-Hodgkin Lymphoma" characterizes the selective binding of CD38-SADA to DOTA-chelated lanthanide metals and high-avidity binding to CD38, a tumor specific antigen overexpressed across a range of lymphoma cells. Data from this poster demonstrate anti-tumor efficacy of CD38-SADA when used with Lutetium 177 (Lu177)-DOTA in a two-step approach to pre-targeted radioimmunotherapy ("PRIT"). Tumor responses in a xenograft mouse model were rapid and dose-dependent, further supporting the clinical development of CD38-SADA PRIT in patients with CD38-positive lymphoid malignancies.
"This preclinical analysis provides important insights into the unique pharmacology of CD38-SADA and its therapeutic potential for NHL," said&nbsp;Brian H. Santich, Ph.D., the lead author and co-inventor of the SADA PRIT technology platform. "The anti-tumor efficacy positively correlated with increasing doses of Lu177-DOTA and CD38-SADA, which informed the study design and initial dosing regimen of our Trial 1201 in patients with NHL."

YMAB

Y-mAbs Presents SADA Platform Preclinical Data And Trial In Progress Posters At ASH Meeting; Said Anti-tumor Efficacy Positively Correlated With Increasing Doses Of  Lu177-DOTA And CD38-SADA

bluebird bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) today announced updated data from patients with beta-thalassemia who require regular blood transfusions treated with betibeglogene autotemcel (beti-cel, approved commercially as ZYNTEGLO&#x2122;) in clinical studies. The data was presented today at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition.
Long-Term Follow-Up Data Continue to Support Beti-Cel as a Potentially Curative Gene Therapy for β-Thalassemia Patients Who Require Regular Transfusions Through Achievement of Durable Transfusion Independence and Normal or Near-Normal Adult Hb Levels
Treatment effects sustained through long-term follow-up of beyond 10 years in the earliest treated patients (n=2); 81% of participants have &gt;5 years of follow-up

BLUE

bluebird bio Announced Long-Term Follow-Up Data Continue To Support Beti-Cel As Potentially Curative Gene Therapy For β-Thalassemia Patients Who Require Regular Transfusions Through Achievement Of Durable Transfusion Independence And Normal Or Near-Normal Adult Hb Levels At ASH Meeting

Dog-themed meme coin Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has surged by 208% so far in 2024, catapulting its market capitalization to $18.28 billion.
What Happened: Currently positioned at number 12, Shiba Inu&#8217;s consistent rally&nbsp;since the beginning of Q4&nbsp;2024 has led crypto analysts to forecast its potential rise&nbsp;into the top 10 cryptocurrencies&nbsp;by market cap. 
The price of SHIB rose from a low of $0.00001079 on August 5 to&nbsp;$0.00003318 on December 1, before&nbsp;slightly pulling back to&nbsp;$0.00003090.
This impressive rally has shattered multiple resistance levels, with the next resistance marked&nbsp;at $0.00004575, a yearly high&nbsp;achieved in Q1 2024. Despite the price rally, it&#8217;s the growing market cap of SHIB that has captured analysts&#8217; attention.
According to data from <a href="https://www.benzinga.com/crypto">Benzinga</a>, SHIB&#8217;s market cap has been steadily increasing since September, with capital&nbsp;inflow into the Shiba Inu&nbsp;network propelling the ecosystem&#8217;s market cap&nbsp;from $7.57 billion in the&nbsp;first week of September to&nbsp;$19.41 billion as of December&nbsp;5.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256519/shiba-inu-soars-to-eight-month-high-up-13-as-meme-coins-rally">Shiba Inu Soars To Eight-Month High, Up 13% as Meme Coins Rally</a>
Shiba Inu currently lags behind Avalanche (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>), which occupies the 11th spot&nbsp;in the overall ranking,&nbsp;with a market cap of $21.28 billion. 
However, analysts are of the opinion that the strong momentum of SHIB could potentially outpace AVAX and break&nbsp;into the top 10 cryptocurrencies.
Why It Matters: The surge in Shiba Inu&#8217;s market cap is a testament to the growing popularity and acceptance of memecoins in the crypto market. 
This rally is not just about price but also about the increasing market cap, indicating a significant inflow of capital&nbsp;into the Shiba Inu network. 
If Shiba Inu continues this momentum, it could potentially disrupt the current rankings and establish itself among the top 10 cryptocurrencies, a feat that would further solidify the position of meme coins in the crypto space.
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<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42254813/shiba-inu-burn-skyrockets-7400-nearly-2b-tokens-destroyed">Shiba Inu Burn Skyrockets 7,400%, Nearly 2B Tokens Destroyed</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$AVAX

$SHIB

Shiba Inu's 208% Surge This Year Sparks Predictions Of Top 10 Crypto Ranking In 2025

Nektar Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTR#NASDAQ">NKTR</a>) today announced results of its Phase 2 proof-of-concept study evaluating NKTR-255 as an adjuvant treatment to enhance complete response rate (CRR) and durability following CD19-directed CAR-T therapy in patients with relapsed/refractory (R/R) Large B-cell Lymphoma (LBCL) at the 66th ASH Annual Meeting and Exposition in San Diego, California.
73% of the NKTR-255 treatment group compared to 50% of the placebo group achieved a complete response at 6 months
NKTR-255 enhanced CAR T-cell kinetics with improved CD8+ CAR-T area under the curve (AUC) 0-15 days post-administration being 5.8-fold greater than placebo-controls
&nbsp;

NKTR

Nektar Therapeutics Announced NKTR-255 Following CD19-directed CAR-T Therapy Enhanced Complete Response Rates in Patients with Relapsed or Refractory Large B-cell Lymphoma At ASH Meeting; 73% Of NKTR-255 Treatment Group Vs 50% Of Placebo Group Achieved Complete Response At 6 Months

Galapagos NV ((Euronext &amp;amp, NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLPG#NASDAQ">GLPG</a>) today announced additional data from the ongoing Phase 1/2 ATALANTA-1 study of its CD19 CAR T-cell therapy, GLPG5101. The results, featured in an oral presentation at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition, demonstrate efficacy and safety profile in patients with relapsed/refractory non-Hodgkin lymphoma (R/R NHL). Most patients in the study received GLPG5101 as a fresh, fit, stem-like, early memory CD19 CAR T-cell therapy, with a median vein-to-vein time of seven days.&nbsp;
<ul>
<li>Data from the ongoing Phase 1/2 ATALANTA-1 study in a heavily pretreated R/R NHL patient population demonstrate high antitumor activity and an encouraging safety profile in all NHL subtypes studied.</li>
<li>96% of patients received an infusion of fresh, fit, stem-like, early memory CD19 CAR T-cell therapy with a median vein-to-vein time of seven days, avoiding the need for cryopreservation and bridging therapy.</li>
<li>These data reinforce the potential of Galapagos' decentralized cell therapy manufacturing platform to deliver fresh, fit cells, fast, driving positive patient outcomes.</li>
</ul>
&nbsp;
&nbsp;

GLPG

Galapagos Announced New Results from Ongoing Phase 1/2 Study of CD19 CAR T-Cell Therapy, GLPG5101, In Patients with Relapsed/Refractory Non-Hodgkin Lymphoma; Demonstrated High Antitumor Activity And An Encouraging Safety Profile In All NHL Subtypes Studied

President-elect <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> is in Paris for his first international trip since winning back the presidency, where he joined world leaders and dignitaries in celebrating the reopening of the Notre Dame Cathedral following <a href="https://www.benzinga.com/news/global/24/12/42328909/french-government-collapses-after-vote-of-no-confidence" target="_blank" rel="noreferrer noopener">its restoration after a devastating fire in 2019</a>.
French President <a href="https://www.benzinga.com/topic/emmanuel-macron" target="_blank" rel="noreferrer noopener">Emmanuel Macron</a>, who invited Trump to the event, has been praised for overseeing the restoration efforts, The Business Standard Reports
Although Trump and Macron have had a complicated relationship, Macron has worked to cultivate ties with the president-elect, especially after his victory over Vice President Kamala Harris last month.
Macron&#8217;s office played down the significance of the invitation, noting that politicians who are no longer in office have been invited to such events in the past. President Joe Biden, also invited, will not attend due to a scheduling conflict. First Lady Jill Biden is officially representing the U.S. at the event.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42377065/trumps-transition-team-considering-undoing-uspss-contracts-with-ford-oshkosh-for-electrifying-fleet-report" rel="noreferrer noopener">Trump&#8217;s Transition Team Considering Undoing USPS&#8217;s Contracts With Ford, Oshkosh For Electrifying Fleet: Report</a>
Trump&#8217;s visit comes at a crucial time, as Macron and other European leaders seek to maintain U.S. support for Ukraine amid its ongoing defense against Russia&#8217;s invasion.
Ahead of the Notre Dame celebration, Macron will meet with Trump and separately with Ukrainian President Volodymyr Zelenskyy. The restoration of Notre Dame serves as a symbol of resilience, much like the broader geopolitical challenges facing Europe and the West, The Business Standard adds.
During Trump&#8217;s presidency, relations between France and the U.S. were initially warm but grew strained over issues like NATO and trade.
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/24/12/42378433/suze-orman-warns-fear-is-fueled-by-stress-why-60-dont-manage-it-and-4-in-10-worry-about-retirement-savings" target="_blank" rel="noreferrer noopener">Suze Orman Warns: &#8216;Fear Is Fueled by Stress&#8217; – Why 60% Don&#8217;t Manage It and 4 in 10 Worry About Retirement Savings</a></li>
</ul>
Image: Wikimedia Commons

Trump Attends Notre Dame Reopening in First International Trip as President-Elect

In an unprecedented development, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged past the $100,000 mark last week, a first in its history. This milestone comes amidst a climate of regulatory speculation and the ripple effects of President-elect <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42024635/scaramucci-trumps-crypto-support-could-push-bitcoin-to-150k">Donald Trump&#8216;s victory</a>.
What Happened: In a recent interview, Anthony Scaramucci, founder of Skybridge Capital, discussed the evolving landscape of cryptocurrency regulation and the future of Bitcoin.
Scaramucci, who has a substantial personal investment in Bitcoin, <a href="https://www.youtube.com/watch?v=Lg2HCpWE1gQ">told</a> Yahoo Finance, &#8220;I have a lot of my personal net worth in Bitcoin because I&#8217;m not looking at it and not tracking it day to day. But this milestone is important because I think it tells people that Bitcoin is probably ready now for prime time institutional investing.&#8221;
&#8220;There are 85 million people in this country that own crypto in one form or another. There are 65 million dog owners, so you have more crypto owners than you have dog owners,&#8221; Scaramucci said. 
&#8220;So, I think the Biden administration is looking at polling data and recognizing that younger people, Hispanic community, African-American community are in crypto. You guys really want to go that hard against crypto, I don&#8217;t think it makes sense from electoral perspective,&#8221; he added. 
Also Read: <a href="https://www.benzinga.com/news/24/11/42254953/scaramucci-on-trump-deportation-plan-were-going-to-have-a-stock-market-crash">Scaramucci on Trump Deportation Plan: &#8216;We&#8217;re Going To Have a Stock Market Crash&#8217;</a>
Scaramucci also shared his thoughts on Trump&#8217;s appointment of Paul Atkins as the new SEC Chair. &#8220;I do like it. I&#8217;ve&nbsp;known Paul a long time.&nbsp;He&#8217;s a libertarian by nature,&#8221; he said. 
Scaramucci went on to underscore the growing acceptance of crypto, pointing out that there are now more crypto owners in the US than dog owners.
Why It Matters: The meteoric rise of Bitcoin, coupled with the ongoing regulatory discussions, underscores the increasing significance of cryptocurrencies in the global financial landscape. 
As Scaramucci pointed out, the surge past $100,000 could signal that Bitcoin is ready for mainstream institutional investment. 
Furthermore, the appointment of a libertarian-leaning SEC Chair could potentially lead to a more favorable regulatory environment for cryptocurrencies. 
This development, along with the growing popularity of crypto among the US population, could pave the way for further growth and acceptance of cryptocurrencies in the future.
Read Next
<a href="https://www.benzinga.com/news/24/11/41866624/scaramucci-on-trump-win-i-got-it-wrong-im-not-going-to-whine-about-it" target="_blank" rel="noreferrer noopener">Scaramucci On Trump Win: ‘I Got It Wrong, I'm Not Going To Whine About It'</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$BTC

Scaramucci: Bitcoin Is a Volatile Asset, But 'Ready for Prime Time Institutional Investing'

Elon Musk has ignited speculation regarding the potential creation of a U.S. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategic reserve. This comes as Bitcoin&#8217;s value soars past the $100,000 mark, following the victory of <a href="https://www.benzinga.com/news/24/12/42256740/trump-taps-loyalist-patel-for-fbi-director-signaling-major-overhaul">President-elect Donald Trump</a>.
What Happened: According to a report Musk&#8217;s hints at a significant shift in the Bitcoin and crypto market have led traders and analysts to speculate on the possibility of a U.S. Bitcoin strategic reserve. 
Musk, who has emerged as&nbsp;an influential advisor to Trump&nbsp;after the election, is viewed as a crucial figure in the pro-cryptocurrency administration.
According to the report <a href="https://www.forbes.com/sites/digital-assets/2024/12/05/elon-musk-quietly-fuels-us-bitcoin-reserve-bets-as-price-breaks-100000/">by</a> Forbes, despite distancing himself from the sector following the 2021 bull run, Musk&#8217;s company, Tesla, continues to hold approximately 10,000 Bitcoin, valued at nearly $1 billion.
Cryptocurrency and financial markets analyst Richard Ptardio told the outlet, &#8220;With Bitcoin and crypto&#8217;s&nbsp;most famous cheerleader in Elon&nbsp;Musk at Trump&#8217;s&nbsp;side, we can expect the&nbsp;most pro-cryptocurrency administration to date.&#8221;
Also Read: <a href="https://www.benzinga.com/tech/24/11/42154872/musks-net-worth-tops-one-third-of-a-trillion-dollars">Musk&#8217;s Net Worth Tops One-Third of a Trillion Dollars</a>
As the price of Bitcoin crossed the $100,000 threshold, Musk commended El Salvador&#8217;s Bitcoin investment profits, further fueling speculation about the establishment of a U.S. Bitcoin strategic reserve.
However, many Bitcoin and crypto observers still consider&nbsp;the creation of a U.S.&nbsp;Bitcoin strategic reserve as unlikely, with the Polymarket prediction platform forecasting a 25% chance.
Why It Matters: The establishment of a U.S. Bitcoin strategic reserve could significantly impact the cryptocurrency market. It would not only legitimize Bitcoin as a strategic asset but also potentially stabilize its price. 
Musk&#8217;s influence in the Trump administration and his company&#8217;s significant Bitcoin holdings make his support for such a move noteworthy.
However, the skepticism among Bitcoin and crypto watchers indicates that the establishment of a U.S. Bitcoin strategic reserve is far from a done deal. 
The market will closely watch Musk&#8217;s actions and statements in the coming months.
Read Next
<a href="https://www.benzinga.com/news/24/09/41080004/elon-musk-aims-for-mars-by-2030-but-experts-say-dont-count-on-it">Elon Musk Aims For Mars by 2030, But Experts Say Don&#8217;t Count On It</a>

Musk Fuels Speculation On US Bitcoin Reserve As Crypto Surges

OpenAI&#8216;s chatbot, ChatGPT, is gaining traction in the online search market, potentially challenging Google&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) <a href="https://www.benzinga.com/news/24/01/36709679/employees-slam-google-leaderships-vision-in-wake-of-layoffs-they-are-all-profoundly-boring-and-glass">long-established supremacy</a>.
What Happened: A survey conducted by brokerage firm Evercore ISI disclosed that ChatGPT was the favored&nbsp;search provider for 5% of&nbsp;1,000 respondents, a significant increase from 1% in June. Millennials were identified as the primary drivers of this uptake.
Despite the rise, Google still commands the majority of the search market, with 78% of respondents choosing it as their first preference, a slight decrease from 80% in June. 
Nonetheless, even a minor shift in market share is noteworthy in the online search industry, which is the foundation of Google&#8217;s ad business.
According to <a href="https://www.businessinsider.com/chatgpt-search-market-share-google-openai-2024-12">the</a> survey, ChatGPT&#8217;s modest gains suggest a potential shift in Google&#8217;s status as the internet&#8217;s main gatekeeper.
OpenAI&#8217;s generative AI technology is revolutionizing how millions access digital information, sparking debates&nbsp;about the sustainability of Google&#8217;s&nbsp;search dominance.
Also Read: <a href="https://www.benzinga.com/news/24/07/39763462/whistleblowers-accuse-openai-of-hindering-staff-from-reporting-ai-risks">Whistleblowers Accuse OpenAI Of Hindering Staff From Reporting AI Risks</a>
In October, OpenAI rolled out&nbsp;a full search feature for&nbsp;ChatGPT and also secured a partnership with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), placing ChatGPT prominently on numerous iPhones. Both moves are perceived as direct challenges to Google.
Despite these advancements, Google remains significantly ahead, as indicated by positive results from Evercore&#8217;s survey. Google&#8217;s Gemini, a ChatGPT-like assistant, and&nbsp;AI Overviews, a feature that&nbsp;summarizes search results, were deemed more effective by 71% of Google users.
Why It Matters: The rise of ChatGPT signifies a potential shift in the online search landscape. Google&#8217;s dominance has been unchallenged for years, but OpenAI&#8217;s advancements suggest a new competitor is emerging. 
The partnership with Apple and the introduction of&nbsp;a full search feature for&nbsp;ChatGPT are strategic moves to increase its market share. 
However, it remains to be seen if ChatGPT can monetize search queries as effectively as Google, a factor critical to its success.
Read Next
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

AAPL

OpenAI's ChatGPT Makes Headway In Search, Threatening Google's Reign

President-elect Donald Trump will name ex-Sen. David Perdue (R-Ga.) as his choice for ambassador to China, a pivotal role <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it" target="_blank" rel="noreferrer noopener">in shaping the future of U.S.-China relations</a>.
Perdue, who served in the U.S. Senate from 2015 to 2021, is known for his strong stance on China, a position that has earned him the label of &#8220;anti-China&#8221; from Chinese think tanks, BBC <a target="_blank" href="https://www.bbc.com/news/articles/cj0rj0vl4n8o" rel="noreferrer noopener">reports</a>.
The selection places Perdue at the heart of one of the most critical foreign policy challenges for the United States, as tensions with China continue to escalate, particularly over trade and military influence.
Perdue&#8217;s career is a blend of business acumen and political service. Before entering politics, he held senior executive positions at major companies, including Reebok and Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>), per <a href="https://www.britannica.com/biography/David-Perdue" target="_blank" rel="noreferrer noopener">Britannica</a>, where he became known for his successful turnarounds of struggling businesses.
His corporate background has been both praised by investors and criticized by political opponents, who argue that his methods favored shareholders over the well-being of employees.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42333675/fbi-warns-of-ongoing-china-backed-telecom-hacks-heres-how-encrypted-messaging-could-be-your-last-line-of-defense" rel="noreferrer noopener">FBI Warns Of Ongoing China-Backed Telecom Hacks: Here&#8217;s Why Encrypted Messaging Could Be Your Last Line Of Defense</a>
When he first ran for the Senate, Perdue presented himself as a businessman who could bring pragmatic solutions to Washington&#8217;s complex issues.
During his time in the Senate, Perdue was vocal about the growing threat posed by China. He advocated for a stronger U.S. military, particularly the Navy, to counter China&#8217;s increasing military presence in the region.
His views align with the broader &#8220;hawkish&#8221; approach of Trump&#8217;s foreign policy team, which has taken a hard line on China&#8217;s economic practices and military expansion.
In a September essay, Perdue described China&#8217;s government as a force seeking to undermine U.S. capitalism and democracy, framing the nation as a strategic adversary, CNN <a target="_blank" href="https://www.politico.com/news/2024/12/06/trumps-china-ambassador-bad-news-beijing-00193088" rel="noreferrer noopener">reports</a>.
The Trump administration has vowed to impose tough tariffs on Chinese imports, citing the longstanding trade imbalance between the two nations.
Perdue&#8217;s appointment as ambassador is expected to play a key role in managing this delicate and potentially volatile relationship, as the U.S. looks to navigate the complex dynamics of trade, security, and diplomacy with one of its biggest global rivals.
Perdue lost his Senate seat to Democrat Jon Ossoff in 2020 and later ran unsuccessfully for governor of Georgia in 2022, challenging incumbent Republican Gov. Brian Kemp in a primary that Kemp won easily.
During his gubernatorial campaign, he echoed Trump&#8217;s false claims of electoral fraud in the 2020 election.
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42377065/trumps-transition-team-considering-undoing-uspss-contracts-with-ford-oshkosh-for-electrifying-fleet-report" target="_blank" rel="noreferrer noopener">Trump&#8217;s Transition Team Considering Undoing USPS&#8217;s Contracts With Ford, Oshkosh For Electrifying Fleet: Report</a></li>
</ul>
Photo: Wikimedia Commons

Trump Taps Perdue for China, Signaling More Tension with Beijing

Billionaire Elon Musk reportedly donated a whopping $277 million to support President-elect Donald Trump and other Republican candidates <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">in the 2024 elections</a>.
What Happened: Documents filed recently reveal that&nbsp;Musk&nbsp;has become the biggest financial supporter in the 2024 elections.
Musk contributed nearly&nbsp;$239 million to his personal&nbsp;super PAC, America PAC, which spent $154.5 million&nbsp;on canvassing efforts and digital&nbsp;ads to back Trump and counter Vice President Kamala Harris. 
As reported <a href="https://www.businessinsider.com/elon-musk-260-million-spending-trump-republican-party-2024-12">by</a> Business Insider, Musk&#8217;s contributions also aided GOP House candidates in 18 key districts, with over half of them securing victories.
The filings also showed that $40.5 million of Musk&#8217;s donations were directed towards America PAC&#8217;s contentious voter giveaways. 
Beyond America PAC, Musk solely financed&nbsp;a super PAC that ran&nbsp;ads juxtaposing Trump&#8217;s stance on abortion with&nbsp;that of the late liberal&nbsp;Supreme Court Justice Ruth Bader&nbsp;Ginsburg, through a $20.5 million donation.
Also Read: <a href="https://www.benzinga.com/markets/24/12/42257492/dr-doom-roubini-on-trumps-second-term-inflation-will-be-higher-growth-is-going-to-be-lower">&#8216;Dr. Doom&#8217; Roubini on Trump&#8217;s Second Term: &#8216;Inflation Will Be Higher, Growth Is Going To Be Lower&#8217;</a>
While the bulk of Musk&#8217;s political spending was channeled through&nbsp;America PAC and RBG PAC, he also made significant contributions to other groups during this election cycle. 
He donated $10 million&nbsp;to the Senate Leadership Fund,&nbsp;a super PAC associated with&nbsp;Senate Minority Leader Mitch McConnell,&nbsp;and over&nbsp;$2.3 million to Sentinel Action&nbsp;Fund.
Why It Matters: Musk&#8217;s substantial financial support for Trump and the GOP marks a significant shift in his political engagement. His contributions, the largest in the 2024 elections, have the potential to significantly influence the political landscape. 
The impact of his donations on the election results, particularly in the battleground districts, underscores the power of financial contributions in shaping political outcomes.
Read Next
<a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future" target="_blank" rel="noreferrer noopener">Here's How Trump's Policies Might Shape The Market's Future</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Musk Kicked In More Than a Quarter-Billion Dollars To Trump and GOP

The latest update is out from Pieris Pharmaceuticals (PIRS). Pieris Pharmaceuticals, Inc. is implementing a 1-for-80 reverse stock split to boost i...

Pieris Pharmaceuticals Enacts Reverse Stock Split for NASDAQ Compliance

Pieris Pharmaceuticals OKs 1-for-80 reverse stock split

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) just reported results for the first quarter of 2024.<ul><li>Pieris Pharmaceuticals reported earnings per share of -$3.95.</li><li>The company reported revenue of $53,000.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/pirs-stock-earnings-pieris-pharmaceuticals-for-q1-of-2024/">PIRS Stock Earnings: Pieris Pharmaceuticals Reported Results for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

PIRS Stock Earnings: Pieris Pharmaceuticals Reported Results for Q1 2024

The latest announcement is out from Pieris Pharmaceuticals (PIRS). Pieris Pharmaceuticals, Inc. has received a notice from Les Laboratoires Servier...

Pieris Pharmaceuticals Faces Agreement Termination and Pursues New Opportunities

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to dive into the biggest pre-market stock movers for Wednesday morning as we check out all of the hottest news to start the day with!



Moving stocks this morning a partnerships, a public offering, clinical trial news and more.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Dermata Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/drma-stock-quote/">DRMA</a>) stock is rocketing more than 123% alongside heavy pre-market trading.</li>



<li>Nuzee (NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>) shares are soaring over 75% with strong early morning trading.</li>



<li>Hoth Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/hoth-stock-quote/">HOTH</a>) stock is surging more than 45% <a href="https://www.nasdaq.com/press-release/hoth-therapeutics-partners-lts-therapy-systems-accelerate-novel-alzheimers-treatment">on a new partnership</a> to develop its Alzheimer&rsquo;s treatment.</li>



<li>Allarity Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/allr-stock-quote/">ALLR</a>) shares are increasing over 44% after encouraging investors to <a href="https://finance.yahoo.com/news/allarity-encourages-shareholders-vote-reverse-100000785.html">vote for a reverse stock split</a>.</li>



<li>Regencell Bioscience (NASDAQ:<a href="https://investorplace.com/stock-quotes/rgc-stock-quote/">RGC</a>) stock is heading more than 33% higher alongside strong pre-market trading.</li>



<li>Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) shares are rising over 28% after <a href="https://www.nasdaq.com/press-release/palvella-therapeutics-and-pieris-pharmaceuticals-announce-definitive-merger-agreement">announcing a merger agreement</a>.</li>



<li>Bone Biologics (NASDAQ:<a href="https://investorplace.com/stock-quotes/bblg-stock-quote/">BBLG</a>) stock is jumping more than 23% with heavy early morning trading today.</li>



<li>NewGenIvf (NASDAQ:<a href="https://investorplace.com/stock-quotes/nivf-stock-quote/">NIVF</a>) shares are climbing over 22% after providing a <a href="https://www.nasdaq.com/press-release/newgenivf-provides-update-potential-reverse-merger-covirix-2024-07-23">reverse merger update</a>.</li>



<li>Perfect Moment (NYSEMKT:<a href="https://investorplace.com/stock-quotes/pmnt-stock-quote/">PMNT</a>) stock is getting a close to 19% boost after announcing a <a href="https://www.nasdaq.com/press-release/perfect-moment-teams-quiet-platforms-establish-distribution-center-us-2024-07-22">distribution center agreement</a>.</li>



<li>Catheter Precision (NYSEMKT:<a href="https://investorplace.com/stock-quotes/vtak-stock-quote/">VTAK</a>) shares are up more than 16% without any clear news this morning.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Azitra&nbsp;(NYSEMKT:<a href="https://investorplace.com/stock-quotes/aztr-stock-quote/">AZTR</a>) stock is crashing over 73% but only <a href="https://investorplace.com/2024/07/why-is-azitra-aztr-stock-up-315-today/">after a massive rally yesterday</a>.</li>



<li>Conn&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/conn-stock-quote/">CONN</a>) shares are plummeting 28% on <a href="https://www.12newsnow.com/article/news/local/texas/conns-reportedly-planning-mass-closures/502-4db60564-6fdd-4ffa-ae26-899bec91f75c">reports of impending store closures</a>.</li>



<li>ATI Physical Therapy (NYSE:<a href="https://investorplace.com/stock-quotes/atip-stock-quote/">ATIP</a>) stock is diving more than 25% without any obvious news this morning.</li>



<li>Verastem (NASDAQ:<a href="https://investorplace.com/stock-quotes/vstm-stock-quote/">VSTM</a>) shares are tumbling over 25% on a <a href="https://finance.yahoo.com/news/verastem-oncology-announces-proposed-public-200500583.html">proposed public offering</a>.</li>



<li>Agape ATP (NASDAQ:<a href="https://investorplace.com/stock-quotes/atpc-stock-quote/">ATPC</a>) stock is taking an almost 24% beating after a rally yesterday.</li>



<li>AtlasClear (NYSEMKT:<a href="https://investorplace.com/stock-quotes/atch-stock-quote/">ATCH</a>) shares are sliding more than 22% despite a lack of news on Wednesday.</li>



<li>Sage Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/sage-stock-quote/">SAGE</a>) stock is dropping over 22% after reporting <a href="https://www.nasdaq.com/press-release/sage-therapeutics-and-biogen-announce-topline-results-phase-2-kinetic-2-study-sage">Phase 2 topline results</a>.</li>



<li>Volato (NYSEMKT:<a href="https://investorplace.com/stock-quotes/soar-stock-quote/">SOAR</a>) shares are decreasing more than 21% <a href="https://www.nasdaq.com/press-release/volato-updates-fractional-program-additional-differentiated-benefits-2024-07-23">after a recent rally</a>.</li>



<li>Chijet Motor (NASDAQ:<a href="https://investorplace.com/stock-quotes/cjet-stock-quote/">CJET</a>) stock is slipping over 19% following yesterday&rsquo;s rally.</li>



<li>Salarius Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/slrx-stock-quote/">SLRX</a>) shares close out our pre-market stock movers down more than 19% after a rally yesterday.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
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Pieris Pharma surges on all-stock merger deal

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Allarity Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/allr-stock-quote/">ALLR</a>) stock is on the rise Wednesday as the clinical-stage biopharmaceutical company is encouraging its shareholders to vote in favor of a <a href="https://finance.yahoo.com/news/allarity-encourages-shareholders-vote-reverse-100000785.html">reverse stock split</a>.



Allarity Therapeutics put out a press release pushing for investors to approve the reverse stock split during an upcoming shareholder meeting. That meeting is set to take place on Friday.



Allarity Therapeutics is also advising its investors to approve the reduction of its authorized shares alongside the reverse stock split. It says that investors who have previously voted against these matters should reconsider their decision.



Here&rsquo;s a porition of what the company said to investors in the news release.




&ldquo;Failure to secure approval for the reverse stock split may hinder management&rsquo;s ability to execute its strategy, to the potential detriment of stockholders. Additionally, it may impede business development initiatives dependent on the issuance of common stock. It is essential to understand that a reverse stock split consolidates existing shares, preserving the Company&rsquo;s overall value and each shareholder&rsquo;s respective ownership percentage.&rdquo;




<h2>What&rsquo;s Behind the ALLR Reverse Stock Split?</h2>



Allarity Therapeutics is pushing for this reverse stock split to avoid the delisting of its shares. The company&rsquo;s stock is trading well below the $1 minimum bid price required to remain on the Nasdaq Exchange.



ALLR stock is up 4.6% as of Wednesday afternoon. That comes with 59 million shares traded as compared to a daily average of about 7 million shares.



Investors will want to keep reading for more of the most recent stock market stories!



We have all of the hottest stock market news investors need to know about on Wednesday! A few examples include what&rsquo;s happening with shares of General Motors&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) and Pieris Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) stock, as well as other stock market stories for today! You can find out all about these topics at the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/general-motors-is-backing-down-on-electric-vehicles-whats-going-on/">General Motors Is Backing Down on Electric Vehicles. What&rsquo;s Going On?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-pieris-pharmaceuticals-pirs-stock-up-77-today/">Why Is Pieris Pharmaceuticals (PIRS) Stock Up 77% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-are-stocks-down-today-69/">Why Are Stocks Down Today?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/07/allr-stock-alert-allarity-therapeutics-pushes-shareholders-to-back-reverse-split/">ALLR Stock Alert: Allarity Therapeutics Pushes Shareholders to Back Reverse Split</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ALLR Stock Alert: Allarity Therapeutics Pushes Shareholders to Back Reverse Split

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) stock is rocketing higher on Wednesday after <a href="https://finance.yahoo.com/news/palvella-therapeutics-pieris-pharmaceuticals-announce-103000148.html">announcing a merger agreement</a> with Palvella Therapeutics.



Pieris Pharmaceuticals and Palvella Therapeutics will enact an all-stock transfer for this merger. That will result in Pieris Pharmaceuticals issuing shares of PIRS stock to Palvella stockholders. This will cancel out those investors shares of capital stock of Palvella.



Pieris Pharmaceuticals notes that after the merger, 18% of the combined company will belong to pre-merger PIRS shareholders. The remaining 82% will belong to current investors in Palvella.



Palvella founder and CEO Wes Kaupinen said the following about the merger.




&ldquo;The expected proceeds from the merger and concurrent private financing are expected to fund us through multiple clinical trial milestones, including generating results from the single-arm, baseline-controlled Phase 3 clinical trial of QTORIN&trade; rapamycin for the treatment of microcystic lymphatic malformations, a serious, rare and chronically debilitating genetic disease for which there are currently no FDA-approved therapies.&rdquo;




<h2>What This Means for PIRS Stock</h2>



When this merger closes, Palvella Therapeutics will be the surviving company. This will see its board of directors made up of four current Palvella members and one member from Pieris Pharmaceuticals. The deal is set to close in Q4 2024.



PIRS stock is up 77.3% as of Wednesday morning with 5 million shares traded. Its daily average trading volume is only about 20,000 shares.



Investors will want to keep reading for more of the most recent stock market stories!



We have all of the hottest stock market news that investors need to know about on Wednesday. A few examples include what&rsquo;s happening with stocks today and more of the latest news. All of that info is ready at the links below!



<h2>More Stock Market News for Wednesday</h2>



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<li><a href="https://investorplace.com/2024/07/why-is-hoth-therapeutics-hoth-stock-moving-today/">Why Is Hoth Therapeutics (HOTH) Stock Moving Today?</a></li>



<li><a href="https://investorplace.com/2024/07/rivn-stock-alert-rivian-must-face-lawsuit-over-alleged-tesla-trade-secret-theft/">RIVN Stock Alert: Rivian Must Face Lawsuit Over Alleged Tesla Trade Secret Theft</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/07/why-is-pieris-pharmaceuticals-pirs-stock-up-77-today/">Why Is Pieris Pharmaceuticals (PIRS) Stock Up 77% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Pieris Pharmaceuticals (PIRS) Stock Up 77% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pieris Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/pirs-stock-quote/">PIRS</a>) just reported results for the second quarter of 2024.<ul><li>Pieris Pharmaceuticals reported earnings per share of -$2.76.</li><li>The company did not report any revenue for the quarter.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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PIRS Stock Earnings: Pieris Pharmaceuticals Reported Results for Q2 2024

ATIP

HOTH

PMNT

SLRX

VTAK

Press Releases

SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Pieris Pharmaceuticals, Inc. - PIRS

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates AFBI, ENV, PIRS, BALY on Behalf of Shareholders

PIRS Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Pieris Pharmaceuticals, Inc. Is Fair to Shareholders

Health Care

Palvella Therapeutics Awarded Up to $2.6 million Grant from the U.S. Food and Drug Administration (FDA) Office of Orphan Products Development to Support Phase 3 Single-Arm, Baseline-Controlled Trial in Microcystic Lymphatic Malformations

Palvella Therapeutics Announces Presentations at the 12th Pediatric Dermatology Research Alliance (PeDRA) Annual Conference

Management

Palvella Therapeutics Appoints Matthew E. Korenberg as Chief Financial Officer

Palvella Therapeutics Announces First Patient Dosed in SELVA Phase 3 Clinical Trial of QTORIN™ 3.9% Rapamycin Anhydrous Gel (QTORIN™ rapamycin) for the Treatment of Microcystic Lymphatic Malformations

PIERIS PHARMACEUTICALS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Pieris Pharmaceuticals, Inc. - PIRS

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