Biotech News & Notes from February - The End of Exclusivity Is Nigh....
Loss of exclusivity is a growing theme as Jefferies projects there will be $170 billion of branded product revenue lost by 2028 prompting urgency for M&A
Mei Pharma (MEIP) and Infinity Pharmaceuticals (INFI) announced a merger
Jounce Therapeutics (JNCE) and Redx Pharma (REDX LN) are merging
Graphite Bio (GRPH) and Talaris therapeutics (TALS) announced significant reductions in force and exploration of strategic alternatives
Celldex Therapeutics (CLDX) rallying on favorable updated Phase Ib Data with KIT
Nektar Therapeutics (NKTR) crashed ~50% on negative Phase 2 data for IL-2 conjugate rezpegaldesleukin
Fulcrum Therapeutics (FULC) cratered 55% on announcing FDA placed a clinical hold on FTX-6058
FDA drug approval for Travere Therapeutics' (TVTX) Filspari
FDA drug approval for Apellis Pharmaceuticals' (APLS) Syfovre (pegcetacoplan)
Frequency Therapeutics (FREQ) crashed >80% upon announcing the failure of a phase 2b trial in hearing loss and a subsequent 55% reduction in force.
Blueprint Medicines (BPMC) announced FDA placed a partial clinical hold on trial of BLU-222
G1 therapeutics (GTHX) stopped a Ph3 trial for trilaciclib
Sanofi (SNY) stopped a phase 3 trial of the lead candidate acquired in the $3.7 billion takeover of Principia.
Taysha (TSHA) announced additional trials for Giant Axonal Neuropathy
Blueprint Medicines (BPMC) and Roche (RHHBY) terminated the Gavreto collaboration agreement
Rubius therapeutics (RUBY) announced a dissolution plan
Sorrento therapeutics (SRNE) filed for Chapter 11 bankruptcy in Texas.
Merck (MRK), Bristol Myers (BMY) and Abbvie (ABBV) will all be losing their top selling drug(s) Keytruda, Revlimid and Humira, respectively
The third biotech IPO of 2023 just might be the charm as Structure therapeutics (GPCR) traded up 73% after debuting with an upsized offering of $160 million