The Latest
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Q&A
Rapport ‘fully prepared’ to launch seizure drug solo, CEO says
In a wide-ranging interview, Abe Ceesay detailed how Rapport built an investor syndicate and why the company is confident it can join the ranks of successful, commercial-stage brain drugmakers.
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Sponsored by First Tracks Biotherapeutics
Celiac disease is entering a new era of therapeutic innovation
For the ~1 in 100 people living with celiac, the burden of disease extends far beyond their plate.
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Edgewise heart drug passes key trial test
Still, the results leave somewhat unclear how different the company’s drug is than marketed hypertrophic cardiomyopathy medicines from Bristol Myers Squibb and Cytokinetics.
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J&J multiple myeloma drug gains edge in earlier stage disease
The latest results studying Talvey in combination with Darzalex Faspro support J&J’s efforts to expand the immunotherapy's use.
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News roundup
Neumora depression drug fails; EnGene to cut 50% of staff
Neumora’s stumble is the latest setback for a once-promising class of brain drugs. Elsewhere, a cell therapy manufacturing specialist took steps toward an IPO and J&J made its latest U.S investment.
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Express Scripts, PCMA sue to block Tennesee law breaking up PBMs and pharmacies
Express Scripts and the PBM lobby are following in CVS Caremark’s footsteps in filing complaints challenging the FAIR Rx Act, which was passed earlier this year despite vehement opposition from PBMs.
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Medicare drug price rule may target under-the-skin Keytruda and Opdivo
For 2029, a federal rule proposes closing a "loophole" that protects medicines transitioning from intravenous administration from price protection.
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China competition
Amid a flurry of biotech deals, China looks to keep innovation at home
The country’s new regulatory pathway promises to accelerate access to advanced therapies for Chinese patients, but may change the licensing game for foreign companies.
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Lilly scores early positive data for new JAK drug
Acquired through its purchase of Ajax, the drug showed encouraging effects in patients with hard-to-treat myelofibrosis. To analysts, such results could lead to competition for Incyte’s Jakafi.
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IPO window
Parabilis sets a record with a $670M biotech IPO
The largest-ever new stock sale for a venture-backed biotech company extends a streak of large IPOs in 2026 that’s now resulted in 12 drug startups securing more than $4.1 billion combined.
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Takeda’s $4B TYK2 drug tops Bristol Myers’ Sotyktu in head-to-head test
The results support Takeda’s long-held belief in zasocitinib’s superiority and could help it gain a commercial advantage over Bristol’s therapy.
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Novartis RNA drug acquired in $12B Avidity deal notches a trial win
The data showed that del-brax, an “antisense oligonucleotide conjugate” being tested against a muscle-wasting disease, met its primary endpoint in a Phase 1/2 study.
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Deep Dive // IPO window
Biotech IPOs are the industry’s lifeblood. Track how they’re performing.
Kardigan set terms Thursday for its IPO, which could bring in more than $373 million for the cardiac drugmaker as it seeks to be the 13th biotechnology company to go public in 2026.
Updated June 11, 2026 -
Obesity drugs
ADA ‘26: Lilly’s dominance, Pfizer’s ‘foundational’ drug and Roche’s ‘me-too’ option
At a big meeting for weight loss drugs, Lilly’s “triple G” therapy set a new standard as lingering doubts surrounded other competing treatments.
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J&J looks to widen Imaavy’s use; $300M backs rare disease drug launch
New data suggest Imaavy could be an effective treatment for autoimmune anemia. Elsewhere, Enliven detailed data for a Merck leukemia rival and MBX hyperparathyroidism drug hit its goal.
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Summit pulls $500M share sale a day after announcing it
The developer of a leading PD-1/VEGF cancer drug cited “market conditions” for the cancellation. Its shares have struggled to break out following data milestones.
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Deep Dive
Biotech M&A is accelerating. Track the deals that are happening here.
GSK’s $10.6 billion acquisition of Nuvalent is its third company buyout since late January and the biopharmaceutical sector’s second-largest deal this year.
Updated June 9, 2026 -
Sensorion, citing Regeneron competition, shifts focus to a different hearing loss therapy
A strategic review determined that the development environment had "notably changed," leading Sensorion to end work on its gene therapy for OTOF-related hearing loss.
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Sanofi stops immune drug trial in latest research setback
The failure adds to a series of mixed or negative readouts and leaves in doubt the future of a therapy Sanofi has viewed as a potential blockbuster.
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Startup launches
Ethyreal starts up with $101M and takes aim at a pair of immune diseases
The startup is developing a medicine that works differently than available treatments for thyroid eye disease and could benefit people with a related condition, too.
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China competition
Drugs 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 -
GSK boosts cancer pipeline with $11B Nuvalent buyout
The British drugmaker's third acquisition this year gives it two experimental lung cancer drugs under FDA review that it hopes will support a franchise.
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Merck, Gilead report mixed outcomes in key lung cancer, HIV studies
Trodelvy's latest setback carries implications for a newly important Merck drug, while the success of a once-weekly HIV tablet could boost Gilead's main business.
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Emerging biotech
Stealthy startup Treeline plans a reverse merger
Led by former Loxo Oncology CEO Josh Bilenker, the startup now has a trio of cancer drugs in early-stage testing and more following closely behind.
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Deep Dive // Emerging biotech
Biotech startups are built on venture capital. Track funding rounds here.
RA Capital Management is investing $30 million in Secretome Therapeutics, a company developing a new kind of cell therapy for the heart muscle weakness associated with Duchenne muscular dystrophy.
Updated May 28, 2026 -
Emerging biotech
J&J to acquire Firefly, maker of ‘degrader’ antibody drugs, for $1B
The buyout hands J&J a technology that merges elements of two popular drugmaking methods: protein degraders and antibody-drug conjugates.