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  • Jonathan Poyer

A Busy December of News & Notes in Biotech



The S&P Biotech Select Industry Index ended 2022 down -25.71%. We had never seen the biotech space go negative two years in a row, but this seems to be a time to buck trends and after 2021's -20.45% print, we are in new territory.



  • Takeda (TAK) scquired Phase 3 allosteric TYK2 inhibitor from Nimbus Therapeutics

  • Amgen's (AMGN) purchased Horizon Therapeutics (HZNP) for $116.50 per share or ~$28 billion.



  • Madrigal Pharmaceuticals (MDGL): phase 3 MAESTRO-NASH trial of resmetirom

  • Mirati Therapeutics (MRTX): approval for Krazati (adagrasib)

  • Third Harmonic Bio (THRD): discontinued oral KIT inhibitor program

  • Promethus Biosciences (RXDX): Phase II data from TL1A program in Ulcerative Colitis

  • Pharvaris NV (PHVS): positive data from phase II trial in hereditary angioedema (HAE)

  • Ambrx biopharma (AMAM): results from the ACE-Breast-03 trial of ARX788

  • Gossamer Bio: nominally positive data from their TORREY Phase 2 study of seralutinib

  • Spectrum Pharmaceuticals (SPPI): FDA declined to approve poziotinib


  • The title for world's most expensive drug now belongs to CSL Behring (CSL AU) / uniQure's (QURE) Hemgenix following FDA approval for hemophilia B. The one-time administered AAV5 gene therapy will be priced at $3.5 million per dose

  • Novavax (NVAX) sold convertible notes and equity which corresponded to ~$0 EV

  • Adicet Bio (ACET), Caribou Biosciences (CRBU) and Affimed NV (AFMD) all fell as data various oncology programs failed to show durability of response

  • The US District Court granted summary judgment for the pharma defendants GSK PLC (GSK) and Sanofi (SNY) striking all plaintiffs' evidence Zantac causes cancer.







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