The Latest

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  Tracker

  10 clinical trials to watch in the first half of 2026

  After a lengthy downturn, the biotech industry finally gathered momentum in 2025. Key readouts in obesity, infectious disease and many rare conditions could help it continue.

  Biotech

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  News roundup

  Lyell starts first-of-its-kind CAR-T trial; New coalition aims to boost European biotechs

  Lyell’s trial will test its experimental cancer cell therapy directly against marketed counterparts. Elsewhere, Biogen swapped board chairs and venture firms are joining up at a “pivotal time” for Europe.

  Biotech

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  BridgeBio scores with dwarfism drug, setting up showdown with BioMarin, Ascendis

  The latest in a string of clinical wins, the late-stage data gives the company strong footing to compete with BioMarin's top seller.

  Updated Feb. 12, 2026

  Clinical Trials

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  Lowering drug costs is on Republicans’ minds. Democrats say GOP policies don’t help.

  At a House subcommittee hearing on Wednesday, lawmakers on both sides of the aisle decried the nation’s high drug costs, but Democrats argued Medicaid cuts and lapsed Affordable Care Act subsidies are worsening the problem.

  Drug Pricing

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  China competition

  Drugs from China are reshaping biotech. Track the licensing deals here.

  Madrigal has turned to China-based biotechs twice in the last year to fill its pipeline, first via an obesity-focused alliance with CSPC and this month through a bigger, MASH-centered deal with Suzhou Ribo.

  Updated Feb. 12, 2026

  Deals

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  Vaccines

  FDA refuses to review Moderna’s mRNA flu vaccine

  Moderna claimed that the decision, issued by top vaccine regulator Vinay Prasad, was “inconsistent” with prior FDA communications and went against the regulator’s established guidance for flu shots.

  Biotech

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  Obesity drugs

  Hims cancels plans to sell compounded GLP-1 pill after FDA backlash

  Hims said it “deciding to stop offering access” to the treatment following escalating legal threats — among them a patent infringement suit Novo Nordisk filed against the company on Monday.

  Updated Feb. 9, 2026

  Pharma

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  Seres to lay off staff, pause top program in latest reboot

  The microbiome specialist, which for years has struggled to stay afloat, is cutting its staff by 30% and focusing resources on earlier, immunology-focused research.

  Biotech

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  Deep Dive

  Biotech M&A is accelerating. Track the deals that are happening here.

  The roughly $30 billion deal Merck had been discussing with Revolution Medicines before talks reportedly fell apart would’ve ranked as the largest drug company acquisition since Pfizer’s buyout of Seagen.

  Updated Jan. 26, 2026

  Deals

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  China competition

  Madrigal turns to RNAi drugs from China to bolster MASH pipeline

  The potentially $4.4 billion deal is Madrigal’s second with a China-based biotech and hands the company six preclinical RNA interference medicines for the common liver condition.

  Biotech

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  News roundup

  Evommune rockets on eczema data; AstraZeneca advances GLP-1 pill

  Shares of Evommune nearly doubled on data suggesting it has a potential threat to Dupixent. Elsewhere, a closely watched narcolepsy drug got an FDA decision date and investors scrutinized Upstream’s asthma results.

  Biotech

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  Trump administration

  CDC moves to cut $600M in grants to Democrat-led states

  The cut grants, which were viewed by Healthcare Dive, fund a wide swath of areas including workforce initiatives, STI prevention measures, health equity proposals, pediatric clinician training and others in California, Colorado, Illinois and Minnesota.

  FDA

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  Deep Dive // IPO window

  Biotech IPOs are the industry’s lifeblood. Track how they’re performing.

  Veradermics, Eikon Therapeutics, Agomab Therapeutics and SpyGlass Pharma collectively raised more than $1.2 billion over the course of three days, and all either met or exceeded their offering targets.

  Updated Feb. 4, 2026

  Biotech

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  Gilead dips as ‘strong’ earnings outweighed by high expectations for new HIV drug

  Shares fell as much as 6% in after-hours trading, a decline one analyst guessed may be because Yeztugo’s trajectory isn’t matching investors’ sky-high hopes.

  Marketing

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  FDA rejects Regenxbio treatment in another blow to gene therapy

  The decision comes two weeks after the agency halted testing due to safety concerns and represents the latest regulatory setback for a gene therapy maker.

  FDA

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  Nektar, continuing comeback, says eczema drug’s effects hold up in follow-up study

  The results vaulted Nektar’s market value to over $1 billion amid expectations the drug might prove a challenger to widely used medications like Dupixent. 

  Biotech

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  Deep Dive // Emerging biotech

  Biotech startups are built on venture capital. Track funding rounds here.

  Sanofi’s venture arm co-led an $85 million round for QuantX Biosciences, a company that’s developing a drug aimed at an increasingly popular immunological target known as STAT6.

  Updated Feb. 10, 2026

  Biotech

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  Obesity drugs

  Hengrui, Kailera tout positive results for dual-acting obesity pill

  Kailera CEO Ron Renaud claimed the weight loss effects and safety profile observed in the study suggest its therapy could eventually become a “differentiated treatment option” compared to other obesity pills.

  Biotech

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  Emerging biotech

  Takeda, Iambic partner in latest pharma AI push

  “The winners over the next five years” will be the companies that “fully integrate” artificial intelligence into drug development, said Takeda research chief Andy Plump.

  Pharma

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  Immune reset

  Lilly buys ‘in vivo’ CAR-T maker Orna, extending streak of genetic medicine deals

  Worth up to $2.4 billion, the acquisition is also the latest in a series of buyouts involving startups with technologies that modify immune cells inside the body. 

  Biotech

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  Trump administration

  White House’s online service for drug sales debuts with limited impact on prices

  Select products from Pfizer, Eli Lilly and others will be sold at a discount, although the lower costs won’t be felt by many Americans whose medications are covered by insurance.

  Pharma

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  News roundup

  Lilly bets again on China drugs; Roche showcases MS data

  Lilly could pay Innovent Biologics up to $9 billion in a new alliance. Elsewhere, Roche tried to assuage investor concerns about its new multiple sclerosis drug and Roivant shares surged.

  Biotech

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  News roundup

  Earnings roundup: AbbVie angst, a bifurcated vaccine market and Bristol Myers’ waiting game

  Vaccine makers are seeing sales declines in the U.S. and upswings in Europe. Elsewhere, investors fretted over an AbbVie franchise and Bristol Myers pointed to a trio of narrative-changing trials.

  Marketing

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  IPO window

  Eikon Therapeutics nets a $381M IPO amid burst of biotech offerings

  Eikon’s offering ranks as the largest new biotech stock issuance since Acelyin’s $540 million haul nearly three years ago.

  Biotech

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  IPO window

  Agomab, SpyGlass bank a combined $350M in biotech IPOs

  The two offerings capped off the busiest week for new biotech stock issuances in a year.

  Biotech

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