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Deep Dive // IPO windowBiotech IPOs are the industry’s lifeblood. Track how they’re performing.
Parabilis Medicines set terms for an IPO that, at as much as $475 million, would rank as the year’s second-largest new biotech stock offering.
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Sponsored by Evaluate2026 Orphan Drugs Report: A safe(r) passage amid stormy waters?
Orphan drugs remain commercially durable, strategically relevant and supported by a strong pipeline
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News roundupOtsuka showcases kidney drug data; Pfizer cuts an AI deal
Voyxact helped preserve kidney function, but left an opening for competing IgAN drugs from Vera and Vertex. Elsewhere, Takeda’s alliance with Innovent paid early dividends and Axsome warded off generic competitors.
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Alnylam, Inceptive ink AI deal potentially worth $2B
The RNA-focused drugmaker says Inceptive's tools will help prioritize the best development options as well as speed up the research process.
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Celcuity breast cancer drug misses ‘lofty’ expectations in ASCO-spotlighted trial
Gedatolisib could “establish a new standard of care” for PIK3CA-mutated breast cancer, an investigator said, but the results nonetheless appeared to disappoint investors.
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Emerging biotechLilly, Ascidian link up in RNA exon editing pact
Worth as much as $1.9 billion, the deal directs Ascidian to help Lilly find potential drugs for genetically driven kidney diseases.
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Emerging biotechA Spanish biotech banks $87M to make differentiated ADCs
Ona Therapeutics, a Barcelona-based drugmaker, is developing next-generation drugs it says could help patients with advanced forms of breast and colorectal cancers.
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‘Unprecedented’ Revolution data point to paradigm shift in pancreatic cancer
Highly anticipated data presented at ASCO confirmed what’s been heralded as a medical breakthrough against a historically tough-to-treat tumor.
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An ADC specialist sinks on safety concerns for blood cancer drug
Shares for ADC Therapeutics fell more than 50% after a Phase 3 trial observed a death rate that at least one analyst believes “may be difficult to accept for physicians, patients and regulators.”
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Legend surges on early data for ‘in vivo’ lymphoma cell therapy
Initial findings show that the therapy reduced or eliminated disease signs in all recipients, sparking hopes that the treatment might be competitive with “ex vivo” medicines like Novartis’ Kymriah.
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News roundup
NewLimit’s $435M megaround; Lilly’s busy dealmaking week
The anti-aging biotech has secured one of the year’s biggest venture fundings to bring its first drug into testing. Elsewhere, Lilly nabbed a “GLP-2” obesity drug and Praxis shares tumbled.
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AbiVax falls as safety worries cloud ‘landmark’ immune drug results
A handful of cancer cases reported among treatment recipients overshadowed efficacy results analysts described as “best-in-disease” and sent shares down more than 30%.
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At ASCO, Merck makes case for a ‘cornerstone’ cancer drug
Study results accrued so far are giving Merck greater conviction that the therapy, licensed from a China-based biotech, was worth placing into a sprawling Phase 3 program.
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Fulcrum exploring a potential sale after FDA sidelined its sickle cell drug
Fulcrum’s setback is the latest in a series of stumbles for the developers of sickle cell medicines, among them Pfizer, Novartis and Intellia Therapeutics.
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Eli Lilly issues data sharing ultimatum to 340B hospitals
Select hospitals have refused to share data to prove they’re not double-dipping drug discounts, Lilly said. Hospitals, which have until Monday to comply, are urging the government to intervene.
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Akeso, Summit drug extends survival in closely watched lung cancer trial
Though ivonescimab reduced the risk of death by one-third compared to chemotherapy in a China-based study, the total survival benefit of four months stirred debate and pressured company shares.
Updated June 1, 2026 -
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Servier buys into muscular dystrophy with potentially $2.7B deal
The French drugmaker has agreed to acquire an experimental tablet from Edgewise Therapeutics that some bullish analysts say could eventually hit peak sales of over $2 billion.
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Emerging biotechRallyBio tries again for reverse merger, this time with Avenzo
It's the second attempt for the rare disease company, which initially announced plans to merge with Candid Therapeutics before the immune drug developer was bought by UCB.
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Bristol Myers unveils data for one of its next-gen blood cancer drugs
Called mezigdomide, the drug is one of two protein-degrading medicines Bristol Myers hopes to soon position as successors to its lucrative Revlimid franchise.
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ASCO26: 5 data snapshots ahead of the year’s biggest cancer drug meeting
Clinical trial abstracts posted Thursday ahead of this year’s ASCO meeting gave a peek at anticipated datasets from Merck, BioNTech, Eli Lilly and Moderna.
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Replimune takes third swing at cancer drug approval following ‘productive’ FDA talks
A twice-spurned therapy that’s been seen as one of the FDA’s more controversial recent rejections is getting a new chance following the resignation of former commissioner Marty Makary.
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Trump administrationCan a chaotic FDA still deliver on faster drug development?
As leadership changes create more instability at the FDA, here’s what one former agency official thinks it will take to keep speedier drug approvals on track.
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China competitionPfizer, Innovent strike $10B cancer drug deal
Involving up to 12 antibody drugs, the alliance is the latest broad partnership between Chinese biotech and a multinational pharmaceutical company.
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China competitionDrugs from China are reshaping biotech. Track the licensing deals here.
AstraZeneca, Pfizer and Bristol Myers Squibb have each allocated more than $16 billion to collaborations with Chinese drugmakers since the start of 2025 — surpassing all of their pharmaceutical peers over that timeframe.
Updated June 1, 2026 -
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News roundup
Allogene CEO to step down; Agios drug fails key test
David Chang will leave his post after an eight-year run at the cell therapy maker. Elsewhere, a next-generation blood disease drug stumbled and an acquisition yielded an FDA approval for AbbVie.
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GSK, Ionis unveil data for hepatitis B drug touted as ‘functional cure’
The findings supporting bepirovirsen were deemed a “historic moment” by physicians and validate a drug that has “clear blockbuster potential,” according to one analyst.
