Latest From Mandy Jackson
Public Company Edition: Codiak, Kiromic, Aligos and Opthea have fallen below their initial public offering values, while Tarsus and Praxis are trading higher. Also, 5AM, MPM and Cormorant took biotech SPACs public and Evotec led recent non-IPO financings with a €250m private placement.
Private Company Edition: Venture capital invested in pharma and biotech in 2020 totaled $19.5m through Q3, just $400m below the full-year record total of $19.9bn in 2018. Also, Canaan and Catalio reveal new VC funds, while Talaris’s $115m series B leads recent financings.
Biopharma executives discussed their strategies for treating chronic diseases during the Cell and Gene Meeting on the Mesa, including R&D and regulatory considerations.
Bristol Myers Squibb reported detailed results from the Phase III TRUE NORTH study that show durable remissions in a patient population that switches therapies due to loss of response.
Initial public offerings by Norbert Bischofberger’s start-up as well as Spruce Biosciences and Shattuck Labs bring the US total to 65 in 2020. Also, the pipeline of health care SPACs is growing, Everest and Genor went public in Hong Kong, Idorsia leads recent follow-on offerings and Corbus cuts jobs.
Analysts considered the Phase III GALACTIC-HF study of omecamtiv mecarbil a failure but some anticipated that detailed data to be presented next month could at least partially redeem the drug.