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Gov. <a href="https://www.benzinga.com/topic/andy-beshear">Andy Beshear</a>&#8216;s administration has refused to release the names of applicants for medical marijuana dispensary licenses in Kentucky's nine regions, despite <a href="https://www.benzinga.com/24/11/42203777/kentucky-awards-first-medical-cannabis-dispensary-licenses">announcing the winners last month. </a>
The Cabinet for Health and Family Services and the Office of Medical Cannabis denied a public records request from Kentucky Public Radio, citing the records as &#8220;preliminary&#8221; and exempt from disclosure, as<a href="https://www.lpm.org/news/2024-12-06/beshear-administration-wont-disclose-medical-marijuana-dispensary-applicants"> reported</a> by Louisville Public Media.
See Also: <a href="https://www.benzinga.com/general/health-care/24/11/41843261/kentucky-gov-beshear-the-jury-is-no-longer-out-kentuckians-want-medical-cannabis">Kentucky Gov. Beshear: &#8216;The Jury Is No Longer Out,&#8217; Kentuckians Want Medical Cannabis</a>
They stated that the list of applicants will remain confidential until after the final lottery for the last two regions on Dec. 16.
<h3 class="wp-block-heading">Concerns Over Fairness And Transparency</h3>
The decision follows concerns about out-of-state companies dominating Kentucky's marijuana licensing process.
One of the companies, Arkansas-based Dark Horse Cannabis, submitted over 100 applications in Kentucky and won multiple licenses in the October lottery, including four dispensary licenses in the November drawing.
While the state released the names of 36 dispensary license winners from the first nine regions, the full list of <a href="https://www.benzinga.com/markets/cannabis/24/10/41413763/huge-interest-in-medical-cannabis-licenses-in-kentucky-nearly-5-000-applications-fees-announced">over 2,800 applicants </a>remains concealed. 
Critics worry that out-of-state companies are gaining a disproportionate share of licenses, which raises questions about fairness and transparency in the process.
<h3 class="wp-block-heading">Legal Challenge To Denial</h3>
Kentucky Public Radio's request for the full list of applicants was denied, and the station has now appealed the decision to the state's Office of the Attorney General. 
Michael Abate, an attorney representing Kentucky Public Radio and the Kentucky Press Association, criticized the administration's actions, saying the denial "makes absolutely no sense." 
He asked: "Why are they trying to delay disclosure until after all the lotteries are done? It suggests the cabinet just doesn&#8217;t want any scrutiny on its process. But obviously, this is an important process and the public has a right to know what&#8217;s going on."
<h3 class="wp-block-heading">Complaints From Local Farmers</h3>
Local hemp farmers, shut out of the October lottery for cultivator licenses, are frustrated with the process.
They argue that large out-of-state companies are gaining an unfair advantage and pushing in-state applicants aside. Gov. Beshear, however, has dismissed these concerns. He stated that the companies tied to Dark Horse Cannabis "named different unaffiliated people as owners in their applications."
The governor did not comment on the investor presentation uncovered by Kentucky Public Radio, which suggested Dark Horse Cannabis could become the parent company of a "vertical" business structure in Kentucky, controlling cultivation, processing and dispensary operations. This ownership model is prohibited under Kentucky's medical cannabis regulations.
<h3 class="wp-block-heading">Final Lottery And Ongoing Scrutiny</h3>
The final lottery for dispensary licenses will take place on Dec. 16 for regions 1 and 2, which include Louisville and Lexington. 
About 1,200 applicants are competing for the remaining licenses and the results could shed more light on the role of out-of-state companies in Kentucky's cannabis industry.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39488414/cannabis-guns-kentucky-2nd-amendment-meet-the-atf-if-you-say-yes-to-medical-marijuana-the-answer">Cannabis, Guns, Kentucky &amp; 2nd Amendment, Meet The ATF: If You Say &#8216;Yes&#8217; To Medical Marijuana, The Answer To Owning A Gun Is &#8216;No&#8217;</a></li>
</ul>
Photo courtesy Gov. Beshear&#8217;s office

Cannabis

Government

News

Legal

Why Kentucky Is Keeping Marijuana Applicants' Names A Secret

AMTM

QRVO

WDAY

S&P Dow Jones Indices Announces Changes: Apollo Global Management And Workday To Join S&P 500, Replacing Qorvo And Amentum Holdings; Comerica And Carpenter Technology To Enter S&P MidCap 400, Replacing Vishay Intertechnology And Carters; Vishay And Carters To Move To S&P SmallCap 600, Replacing Comerica And Carpenter Technology

<ul>
<li>Conference call and webcast to discuss data on Monday, December 9 at 8:30 a.m. ET</li>
</ul>
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.enanta.com&amp;esheet=54163368&amp;newsitemid=20241206627146&amp;lan=en-US&amp;anchor=Enanta+Pharmaceuticals%2C+Inc.&amp;index=1&amp;md5=20d384e13292c32afa00e9dd99c15466">Enanta Pharmaceuticals, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTA#NASDAQ">ENTA</a>), a clinical-stage biotechnology company dedicated to creating small molecule drugs for virology and immunology indications, today announced the company will hold a conference call and webcast on Monday, December 9 at 8:30 a.m. ET to share topline results from RSVPEDs, a first-in-pediatrics Phase 2 study evaluating zelicapavir in hospitalized and non-hospitalized children aged 28 days to 36 months with respiratory syncytial virus (RSV).

Biotech

General

ENTA

Enanta Pharmaceuticals To Present Topline Results From Its Phase 2 Study Evaluating Zelicapavir For Respiratory Syncytial Virus; Conference Call And Webcast To Discuss Data On Monday, December 9 At 8:30 a.m. ET

Partnership will facilitate the flow of national security data from the tactical edge to the cloud-based enterprise
Palantir and Anduril, two leading companies at the intersection of commercial technology and national security, are launching a new consortium to ensure that the U.S. government leads the world in artificial intelligence. Our goal is to deliver the technological infrastructure, from the edge to the enterprise, that can enable our government and industry partners to transform America's world-leading AI advancements into next-generation military and national security capabilities.
This partnership is focused on solving two main problems that limit the adoption of AI for national security purposes. The first is data readiness. Most useful national security data— government data that are collected and created by sensors, vehicles, weapons, and robots at the tactical edge—are not retained for AI training and algorithm development. Exabytes of defense data, indispensable for AI training and inferencing, are currently evaporating. What should be America's ultimate asymmetric advantage over our adversaries is instead our biggest lost opportunity.

PLTR

Anduril And Palantir To Accelerate AI Capabilities For National Security; Partnership Will Facilitate The Flow Of National Security Data From The Tactical Edge To The Cloud-Based Enterprise

Baijiayun Group Ltd ("Baijiayun" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>), a one-stop AI video solution provider, today announced that it has entered into a Standby Equity Purchase Agreement (the "SEPA"), with YA II PN, Ltd. ("YA"), a fund managed by Yorkville Advisors Global, LP. Subject to the terms and conditions set forth in the the SEPA, YA is committed to purchase up to $50 million (the "Commitment Amount") of the Company's Class A Ordinary Shares (the "Shares") at any time during the two-year period following the execution date of the SEPA, by delivering written notice to YA (an "Advance Notice"). Pursuant to the SEPA, YA will advance to the Company, subject to the satisfaction of certain conditions as set forth therein, the principal amount of up to $15 million (the "Pre-Paid Advance"), which will be evidenced by convertible promissory notes (the "Promissory Notes", together with the "SEPA", the "Offering") in four tranches. The first Pre-Advance, in the principal amount of $3,000,000, was advanced December 6, 2024 in connection with the execution of the SEPA,&nbsp; and is subject to a 10% discount to the principal amount of such Promissory Note.

Offerings

Baijiayun Announces Up To $15M Convertible Promissory Notes And $50M Standby Equity Purchase Agreement With YA II PN, Ltd.

The Board of Directors of The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) approved an increase of 2% in the Company's quarterly common stock dividend, from $0.1725 per share to $0.17595 per share, beginning in the first quarter of 2025.&nbsp;

Dividends

AES Increases Quarterly Dividend From $0.1725 To $0.17595 Per Share

Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) ("SMCI" or the "Company"), a Total IT Solution Provider for AI, Cloud, Storage and 5G/Edge, today announced that on December 6, 2024, it received a letter from the Nasdaq Stock Market ("Nasdaq") informing the Company that Nasdaq has granted the Company's request for an exception to Nasdaq's Listing Rule 5250(c)(1) through February 25, 2025. The exception gives the Company until February 25, 2025 to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, its Quarterly Report on Form 10-Q for the period ended September 30, 2024 and any other required filings. The Company's common stock will remain listed on the Nasdaq Global Select Market during the exception period. If the Company files all the required reports by February 25, 2025, the common stock will remain listed, so long as the Company remains in compliance with Nasdaq's listing rules.
The Company currently expects to file all the required reports by February 25, 2025.

SMCI

Super Micro Computer Announces Receipt Of Extension From Nasdaq Stock Market Through February 25, 2025

Ever since pseudonymous Satoshi Nakamoto <a href="https://www.benzinga.com/markets/cryptocurrency/22/08/28349295/understanding-bitcoins-whitepaper" target="_blank" rel="noreferrer noopener">published a whitepaper</a> on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in 2008, there have been plenty of cryptocurrency skeptics.
President-elect Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41096120/if-you-invested-1-000-in-bitcoin-when-donald-trump-said-he-wasnt-a-fan-heres-how-much-youd">was one of them</a>.
&#8220;I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,&#8221; Trump <a href="https://twitter.com/realDonaldTrump/status/1149472282584072192?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1149472282584072192%7Ctwgr%5E05ce97419f07b6da557a7465d7b1138a09bf4c43%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps3A2F2Ftwitter.com2FrealDonaldTrump2Fstatus2F1149472282584072192widget%3DTweet">tweeted</a> in 2019. He also called out Libra, a virtual currency that Meta Platforms was working on at the time. The Facebook parent company should &#8220;seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks,&#8221; he insisted.
But during his <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex">2024 U.S. presidential campaign</a>, Trump changed his mind. He suggested a strategic national crypto stockpile for the U.S. Trump also<a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30095836/donald-trump-nfts-are-here-how-you-can-buy-them-and-get-dinner-with-the-former-president" target="_blank" rel="noreferrer noopener"> launched his own non-fungible tokens</a> on the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) blockchain and accepted Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) as a payment option. 
Read Also: <a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump">Trump Appoints VC David Sacks As White House Crypto Czar: &#8216;He Will Work On A Legal Framework&#8217;</a>
A key milestone for the crypto sector came when Trump <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">spoke</a> at the 2024 Bitcoin Conference in Nashville. 
"For too long our government has violated the cardinal rule that every Bitcoiner knows by heart: Never sell your Bitcoin," Trump <a href="https://www.youtube.com/watch?v=9UxAUryUKXM">said </a>at the event on July 27. "This afternoon I'm laying out my plan to ensure that the United States will be the crypto capital of the planet and Bitcoin superpower of the world and we'll get it done.&#8221;
Investing $1,000 in Bitcoin: Bitcoin holders saw a soaring valuation ever since Trump made that speech.
Bitcoin traded between $66,705.22 to $69,398.51 on July 27, 2024, the date of Trump's event appearance.
A $1,000 investment at the day's highest price could have purchased 0.0144 BTC.
Fast-forward to today and Bitcoin trades at $101,478.46, recently passing the $100,000 milestone for the first time.
The $1,000 investment would be worth $1,461.29 today, up 46.1% in less than five months.
The same $1,000 invested in the SPDR S&amp;P 500 ETF Trust, which tracks the S&amp;P 500, would be worth $1,111.21 today. That&#8217;s up only 11.1% over the same time period.
Bitcoin quickly passed new all-time highs after Trump won the 2024 presidential election. Over the past month, Bitcoin has traded between $74,480.42 and $103,900.47.
Bitcoin investors are optimistic that Trump's incoming administration will continue being pro-crypto compared to his <a href="https://www.benzinga.com/news/legal/24/11/41996491/18-republican-states-sue-bidens-sec-over-harsh-crypto-crackdown">predecessor, President Joe Biden</a>. 
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024">EXCLUSIVE: Bitcoin Briefly Tops $100,000, But Where Do Benzinga Readers Predict It Will Finish 2024?</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

Education

Politics

$BTC

$ETH

$MATIC

If You Invested $1,000 In Bitcoin When Trump Said US Will Be 'Crypto Capital Of The World,' Here's How Much You'd Have Today

BIOA

Trading Halt: Halt status updated at 4:55:00 PM ET: Quotation Resumption: News and Resumption Times

Analysts have updated coverage and raised price targets on Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) after the company hosted its first investor day on Wednesday and showed significant growth across customers, assets under <a href="https://www.benzinga.com/general/sports-betting/24/12/42345211/robinhood-ceo-vlad-tenev-says-sports-betting-comments-taken-a-little-bit-out-of-context-but-he-also-wouldnt-rule-it-out">custody and trading volumes.&nbsp;</a>
Expert Ideas: Goldman Sachs analyst James Yaro assumed coverage of Robinhood Markets on Thursday and upgraded the stock from Neutral to Buy with a $46 price target. The analyst highlighted the firm's growth as driven by continued wallet share gains among active traders and sees a long-term opportunity for Robinhood to expand into other areas, including wealth management and international markets.  
Read Next: <a href="https://www.benzinga.com/24/12/42365711/fridays-top-5-trending-stocks-whats-going-on-with">Friday&#8217;s Top 5 Trending Stocks: What&#8217;s Going On With SoundHound AI, GameStop, Lululemon?</a>
"HOOD has successfully migrated from a fast growing, periodically profitable online broker servicing mostly younger investors, to a best-in-class top and bottom-line asset under custody compounder with a growing total addressable market," Yaro wrote.&nbsp;
Robinhood's average revenue per user (ARPU) has more than doubled over the past two years and Yaro sees the firm's ARPU rising another 19% through 2026, driven mainly from transaction revenue growth. &nbsp;
The Goldman Sachs analyst also sees further growth of assets under custody (AUC), driven by Robinhood's low brokerage market share at present and its expanding wallet share among active traders. Yaro highlighted the "best-in-class customer value" provided through the company's HOOD Gold offering, as well as new products for active traders including index options, futures, crypto offerings and prediction markets.&nbsp;
Piper Sandler analyst Patrick Moley also weighed in on the potential for Robinhood to grow its assets under custody. In a Thursday note, Moley pointed to Robinhood's younger demographic, with 75% of its customers under age 43 combined with an ongoing generational wealth transfer of approximately $85 trillion, providing fuel for significant AUC and revenue growth. 
Piper Sandler maintained its Overweight rating on Robinhood shares and raised its price target from $42 to $54.
HOOD Price Action: According to data from<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw"> Benzinga Pro,</a> Robinhood Markets shares ended Friday's session 7.07% higher at $41.67.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42316904/unitedhealthcare-ceo-brian-thompson-dies-after-being-shot-outside-nyc-hotel">UnitedHealthcare CEO Brian Thompson Fatally Shot Outside NYC Hotel</a></li>
</ul>
Image: Shutterstock

Fintech news covering the emerging Financial Technology services sector

Fintech

Upgrades

Analyst Ratings

Movers

HOOD

Robinhood Markets Grows Into 'Best-In-Class' Brokerage, Analyst Says

The New York Medical Cannabis Industry Association (NYMCIA) has filed a lawsuit against the <a href="https://www.benzinga.com/topic/new-york-cannabis">New York Cannabis </a>Control Board (CCB) and the <a href="https://www.benzinga.com/topic/office-of-cannabis-management">Office of Cannabis Management</a> (OCM) over a $20 million fee for adult-use cannabis licenses. 
The NYMCIA is asking for the fees to be declared unconstitutional and refund any fees already paid, <a href="https://www.greenmarketreport.com/ny-medical-marijuana-group-sues-state-for-punishing-medical-operators/">reported</a> Green Market Report.
The lawsuit centers on the argument that the fee is punitive and disproportionately affects the original cannabis operators (Registered Organizations or ROs) who helped launch the state's medical marijuana program in 2014.
Under NY&#8217;s legalization plan, Marijuana Regulation and Taxation Act (MRTA), a one-time fee was meant to fund social equity programs, but the NYMCIA argues the OCM and CCB set the fee at $20 million without consideration.
The association claims the fee is designed to financially burden the ROs and exclude them from the adult-use market. According to them, the financial impact of the fee has been severe and has prohibited many operators from switching to the adult-use market. 
Read Also: <a href="https://www.benzinga.com/24/12/42314121/advocacy-groups-urge-governor-hochul-to-strengthen-leadership-at-new-yorks-office-of-cannabis-management">Advocacy Groups Demand Gov. Hochul Appoint New Leadership For NY&#8217;s Cannabis Office</a>
Only four out of the ten original ROs have been able to make the first $5 million installment payment to transition to adult-use licenses. 
The rest are left with wholesale-only licenses, limiting their market opportunities. This has also led to closures and reduced hours at medical dispensaries, negatively affecting patients.
The lawsuit points to statements from former OCM leaders, such as Chief of Staff Axel Bernabe, who allegedly acknowledged that the intention was to keep ROs out of the adult-use market.
The NYMCIA is demanding that the court invalidate the fee and refund any payments made. If successful, the case could have broad implications for the future of cannabis regulation in New York and other states navigating similar issues.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/07/39987805/new-yorkers-in-a-bind-as-top-shelf-cannabis-supply-falls-short-could-home-cultivation-help">New Yorkers In A Bind As Top-Shelf Cannabis Supply Falls Short, Could Home Cultivation Help</a></li>
</ul>
COVER: Photo by <a href="https://www.pexels.com/es-es/foto/empire-state-building-nueva-york-466685/">Lukas Kloeppel</a> via Pexels

Regulations

Markets

New York Medical Cannabis Industry Challenges The State's System: $20M Fee Per Operator At Stake

As President-elect Donald Trump reshuffles his cabinet wish list, Florida Gov. <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> seems to be moving closer to the halls of the Pentagon, that is if Trump's embattled first choice for the job flames out. 
Pete Hegseth's nomination <a href="http://Read Also: Trump To Swap Hegseth For DeSantis? Here's What Polymarket Odds For Defense Secretary Pick Show">continues to be clouded</a> by troubling allegations raising serious concerns about his suitability for one of the country's most critical roles.
That said, on Friday Trump made his first public show of support for Hegseth, <a href="https://abcnews.go.com/Politics/trump-shows-public-support-embattled-defense-secretary-pick/story?id=116519958">according</a> to ABC News since the scandals began to flood the airwaves. 
&#8220;Pete Hegseth is doing very well. His support is strong and deep,&#8221; Trump wrote on his social media platform. &#8220;He was a great student — Princeton/Harvard educated — with a Military state of mind. He will be a fantastic, high energy, Secretary of Defense Defense [typo in original text], one who leads with charisma and skill," <a href="https://truthsocial.com/@realDonaldTrump/posts/113605996857369106">wrote</a> Trump who added that Hegseth is a "WINNER."
But then Trump invited someone else (DeSantis) to the upcoming annual Army-Navy college football game, <a href="https://www.foxnews.com/politics/trump-rallies-behind-defense-secretary-pick-hegseth-invites-desantis-army-navy-game">reported</a> Fox News on Friday. Which means?
Read Also: <a href="https://www.benzinga.com/24/12/42327943/trump-could-nominate-former-political-foe-desantis-for-defense-secretary-over-hegseth-report-says-here-are-the-polymarket-odds-for-presidents-cabinet-pick">Trump To Swap Hegseth For DeSantis? Here&#8217;s What Polymarket Odds For Defense Secretary Pick Show</a>
<h1 class="wp-block-heading">Enter Ron DeSantis?</h1>
While not a defense stalwart though he did <a href="https://www.benzinga.com/markets/cannabis/24/02/36901203/ron-desantis-to-send-florida-troops-to-texas-border-to-stem-invasion-of-illegal-drugs-immigrants">offer to send Florida troops</a> to the Texas border to stop the flow of drugs and immigrants from Mexico, DeSantis served as a Navy Judge Advocate General (JAG) officer and deployed to Iraq, making him comparatively qualified by Trump standards, which seem to prioritize loyalty and optics over skill and experience. 
<h1 class="wp-block-heading">No Cannabis For Florida Or Any Other State?</h1>
In Florida, DeSantis has been riding high since the <a href="https://www.benzinga.com/markets/cannabis/24/11/41763514/florida-rejects-cannabis-legalization-amendment-supported-by-trump-detested-by-desantis">defeat of the constitutional amendment</a> to legalize cannabis, which he fought against tooth and nail despite widespread public support for legalization, which included <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti" target="_blank" rel="noreferrer noopener">Trump&#8217;s&nbsp;endorsement</a> that no doubt irked the governor. 
Advocates argue DeSantis&#8217; resistance to cannabis reform not only stifled economic opportunities in the state but also ignored the will of many Floridians. For an amendment to be adopted in Florida, it must receive 60% of the vote. The cannabis amendment received 57% — a majority, but no cigar.
The cannabis angle could become relevant given the growing recognition of legalization as a bipartisan issue. For a potential Secretary of Defense nominee, opposition to marijuana reform could complicate relations within the states — 38 and counting — and nations where cannabis is embraced for its medical, social and economic benefits.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/12/42351859/trumps-dea-drama-he-didnt-quit-i-fired-him-a-tale-of-pastors-pandemic-and-hurt-feelings">Trump&#8217;s DEA Drama: He Didn&#8217;t Quit, I Fired Him — A Tale Of Pastors, Pandemic And Hurt Feelings</a></li>
</ul>

DeSantis, Trump Mend Fences After Florida Cannabis Split While Pete Hegseth Scandal Deepens

Decision follows observations of liver transaminitis without clinically significant symptoms in some subjects on azelaprag
Company will evaluate data from patients enrolled to date and share updated plans for azelaprag in Q1 2025
In parallel to evaluating azelaprag, Company will continue to advance earlier platform-derived programs, including IND submission for CNS penetrant NLRP3 inhibitor anticipated in the second half of 2025
RICHMOND, Calif., Dec. 06, 2024 (GLOBE NEWSWIRE) -- BioAge Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOA#NASDAQ">BIOA</a>) ("BioAge", "the Company"), a clinical-stage biopharmaceutical company developing therapeutic product candidates for metabolic diseases by targeting the biology of human aging, today announced that the Company has made the decision to discontinue the ongoing STRIDES Phase 2 study of its investigational drug candidate azelaprag as monotherapy and in combination with tirzepatide after liver transaminitis without clinically significant symptoms was observed in some subjects receiving azelaprag. No transaminase elevations were observed in the tirzepatide only treatment group.

BioAge Labs Discontinues STRIDES Phase 2 Trial Of Azelaprag For Obesity Following Liver Transaminitis Observations; Plans To Evaluate Data And Provide Updates On Azelaprag In Q1 2025 While Advancing NLRP3 Inhibitor Program With IND Submission Expected In Late 2025

Ternium S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TX#NYSE">TX</a>) announced that the Brazilian Superior Court of Justice (SCJ) published today its unanimous decision to reject a motion of clarification filed by Ternium's subsidiaries Ternium Investments and Ternium Argentina, together with Tenaris's subsidiary Confab (all of which compose the T/T Group under the Usiminas shareholders agreement), that had sought to revert the June 18, 2024 SCJ decision ordering the T/T Group to pay Companhia Siderúrgica Nacional, or CSN, an indemnification in connection with their 2012 acquisition of a participation in Usiminas.
Notwithstanding the foregoing, the SCJ unanimously resolved to modify the applicable monetary adjustment mechanism and to cap the applicable attorney's fees, thereby lowering the aggregate amount that would be payable by the T/T Group if CSN ultimately prevails in its claims. Assuming monetary adjustment through November 30, 2024, and BRL5 million in attorney's fees, in each case as determined pursuant to the SCJ decision published today, the revised aggregate amount potentially payable by Ternium Investments and Ternium Argentina would be of approximately BRL1.9 billion (approximately $307 million) and BRL0.7 billion (approximately $109 million), respectively.
Ternium continues to believe that all of CSN's claims and allegations are unsupported and without merit, and that in connection with the Usiminas acquisition the T/T Group was not required either to launch a tender offer or to pay indemnification to CSN. Accordingly, Ternium Investments and Ternium Argentina intend to continue to defend their rights vigorously and to file all available motions and appeals against the SCJ decisions that ordered an indemnification payment.

Ternium Announces Brazilian Superior Court Rejects Motion To Reverse Ruling Ordering T/T Group To Pay CSN Indemnification Related To 2012 Usiminas Acquisition, Lowers Potential Liability To $307M For Ternium Investments And $109M For Ternium Argentina; Ternium Maintains Claims Are Without Merit And Will Continue To Vigorously Defend Against SCJ Decisions

A licensed <a href="http://benzinga.com/cannabis">cannabis</a> grow room at Humboldt Flower Company was violently shaken during a magnitude 7 earthquake on Thursday, as captured by CCTV footage. The powerful tremor, originating 30 miles off the Humboldt County shoreline, triggered a tsunami warning for coastal towns before being canceled an hour later.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="7.0-magnitude earthquake rattles marijuana farm in Humboldt, California (Dec. 5, 2024)" width="500" height="281" src="https://www.youtube.com/embed/VPAOQjvFJYE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption">Video credits: Humboldt Flower Company</figcaption></figure>
CCTV footage from the grow room showed intense shaking, causing equipment to topple and structures to sway. Fortunately, no major injuries were reported, likely due to the remote location of the epicenter.&nbsp;
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<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Humboldt Flower Company is a series of state-licensed boutique farms that provide high-quality bulk indoor and light-dep flowers for licensed brands and distributors, according to their Instagram. The company is based in the Emerald Triangle, the largest cannabis-producing region in the U.S., <a href="https://www.benzinga.com/markets/cannabis/21/01/19048457/the-emerald-triangle-in-california-explained">renowned for its ideal growing conditions</a>.
So far, no cannabis companies in the affected region have reported significant damage.
<h3 class="wp-block-heading">Governor Declares Emergency In Affected Counties</h3>
"We're concerned about damage, particularly in the northern part of the state and Del Norte, Mendocino and Humboldt County," said Gov. Gavin Newsom at a news conference Thursday, <a href="https://www.latimes.com/california/story/2024-12-05/earthquake-northern-california">according</a> to the Los Angeles Times. He declared a state of emergency in those counties to aid response efforts.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/42144102/california-has-the-finest-weed-in-the-world-says-lab-expert-and-how-to-save-its-struggling-market">California Has The Finest Weed In The World, Says Lab Expert, And How To Save Its Struggling Market</a>
The National Tsunami Warning Center initially issued a warning, leading to widespread evacuations of low-lying coastal areas. Emergency services, including BART and the San Francisco Zoo, suspended operations and secured vulnerable locations. However, the warning was lifted after authorities confirmed that only a minor tsunami, measuring 5 centimeters, occurred in Arena Cove.
The tremor was felt across large regions in <a href="http://benzinga.com/topic/california-cannabis">California</a>, from San Francisco to Sacramento and southern Oregon, demonstrating the extensive reach of such seismic events.
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</ul>
Featured image is a screenshot from the Humboldt Flower Company&#8217;s video.

[VIDEO] Watch Cannabis Farm Rattled By California's 7.0 Earthquake

Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is a top-performing stock in 2024, hitting new all-time highs of $629.79 on Friday, and boosting the wealth of CEO and <a href="https://www.benzinga.com/topic/mark-zuckerberg">co-founder Mark Zuckerberg.</a>
What Happened: Zuckerberg currently ranks as the third-richest person in the world with $215 billion in wealth, according to <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>. The 40-year-old trails only Elon Musk ($362 billion) and Jeff Bezos ($240 billion). 
The $87.3 billion gain by Zuckerberg trails only Musk's gain of $133 billion for the year. He ranks just ahead of Jensen Huang's $82.6 billion addition to his wealth, ranking 11th on the list.
Zuckerberg is now worth more than the following people combined:
<ul>
<li>Warren Buffett, Berkshire Hathaway CEO: $147.0 billion, 9th richest</li>
<li>Ken Griffin, Citadel LLC CEO: $42.4 billion, 37th richest</li>
<li>Peter Thiel, Venture capitalist: $15.9 billion, 141st richest</li>
<li>Mark Cuban, NBA owner, investor: $8.1 billion, 365th richest</li>
</ul>
You may not be a billionaire like Mark Zuckerberg, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/biotech/24/12/42366750/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Zuckerberg passing Buffett comes as the legendary investor, known as the Oracle of Omaha, has given away a portion of his wealth and has pledged to continue doing so. 
Buffett's wealth is up $27.2 billion in 2024 thanks to a higher price for Berkshire Hathaway shares.
Griffin, Thiel and Cuban have all added to their wealth totals in 2024 by $5.9 billion, $6.7 billion and $1.2 billion.
Zuckerberg is of course connected to Thiel in Meta Platforms, which was formerly called Facebook, history. Thiel was the first outside investor for Facebook and gained a portion of his wealth by being an early investor in the company and selling his stake over the years.
Meta stock traded between $317.77 and $629.79 over the last 52 weeks. Its shares are up 80% year-to-date as of Friday.
Meta, touting strong <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">quarterly results and growth</a>, is currently valued at more than $1.5 trillion. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/41051713/zuckerberg-channels-his-inner-caesar-shows-love-for-roman-empire-at-connect-event-all-zuck-or-all-no">Zuckerberg Channels His Inner Caesar, Shows Love For Roman Empire At Connect Event: &#8216;All Zuck Or All Nothing&#8217;</a></li>
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Image: Midjourney

Entertainment

Management

Mark Zuckerberg's Soaring Wealth: Billionaire Now Richer Than Warren Buffett, Mark Cuban, Peter Thiel And Ken Griffin Combined

The Board of Directors of Albany International Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIN#NYSE">AIN</a>) today declared a quarterly dividend of $0.27 per share on the Company's Class A Common Stock, an increase of 4%, or $0.01 per share, from the prior dividend.
The dividend is payable January 8, 2025, to shareholders of record on December 17, 2024.

Albany International Increases Quarterly Dividend From $0.26 To $0.27 Per Share

WIIM

THAR

Tharimmune shares are trading higher after it announced it has entered into a securities purchase agreement to raise gross proceeds of approximately $2.02 million through a private placement.

Lamar Advertising Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>), a leading owner and operator of outdoor advertising and logo sign displays, announces that its board of directors has declared a quarterly cash dividend of $1.40 per share and a special cash dividend of $0.25 per share, both payable on December 30, 2024 to stockholders of record of Lamar's Class&nbsp;A common stock and Class&nbsp;B common stock on December 18, 2024.

LAMR

Lamar Advertising Company Announces Special Cash Dividend Of $0.25 Per Share

Organigram Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/OGI#TSX">OGI</a>) announced the acquisition of 100% of Motif Labs Ltd. for CA$90 million ($64 million), comprising of CA$50 million in cash and CA$40 million in Organigram common shares, based on a 30-day trading VWAP of $2.321 on the TSX.
An additional CA$10 million contingent consideration is payable in shares, conditional on achieving a share price above $3.2203 within 12 months.
The deal is financed through Organigram's cash reserves.
<h3 class="wp-block-heading">Why It Matters</h3>
The company said the move positions Organigram as Canada&#8217;s largest cannabis company by market share (12.4%), being among the top companies within the vape and infused pre-roll categories.
The deal also enhances Organigram's capabilities and expands its presence nationwide, positioning it for international growth as cannabis regulations evolve globally.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40337376/organigram-reports-25-yoy-increase-in-q3-net-revenue-significant-improvement-in-adjusted-ebitda">Organigram Reports 25% YoY Increase In Q3 Net Revenue, Significant Improvement In Adjusted EBITDA</a>
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
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"The highly complementary acquisition of Motif establishes Organigram as Canada's largest cannabis company by market share and accelerates our vision to be a leading cannabis company across all major categories, driven by a relentless focus on the consumer of today and tomorrow," said CEO Beena Goldenberg. "Winning in Canada, the world's largest federally legal recreational market, supported by leading brands and best-in-class operations, innovation and product development, provides the platform to unlock global opportunities as evolving attitudes towards cannabis drive regulatory changes in new and exciting markets."
Motif is holding a 21.2% share in vapes and 9.4% in infused pre-rolls. The company is known for its innovation, increasing net revenue from $35 million in 2022 to $79 million in 2023 and delivering 15 consecutive quarters of positive adjusted EBITDA.
The deal is expected to drive economies of scale and cost synergies &#8211; estimated at $10 million over two years, while improving financial performance.
Motif's facilities in Aylmer and London add advanced extraction and manufacturing capabilities to Organigram's operations, enhancing its production capacity and providing a strategic distribution hub.
"This deal is about a leading public cannabis company joining forces with Canada's top private licensed producer," Paolo De Luca, the company's chief strategy officer, said. "We are extremely excited about leveraging our combined competitive advantages and respective market positions to continue to grow in Canada and beyond."
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin">Canada&#8217;s Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground</a></li>
</ul>
<h3 class="wp-block-heading">OGI Price Action</h3>
Organigram's shares traded 9.66% higher at $1.59 per share at the time of writing on Friday.

TSX:OGI

Organigram Wants To Become Canada's Largest Cannabis Company By Market Share Via $71M Acquisition Deal

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