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Today's Rundown

GSK kills one of Barron’s early darlings, axing two synthetic lethal programs and Epizyme pact
Pfizer tidies up pipeline while eyeing external science to add $25B in revenue by 2030
Checkmate plucks BMS exec Bash to be new CEO
Rivus throws down mid-stage liver fat data on quest to climb NASH mountain
Chasing Novartis and Roche, Ventus banks $140M to take inflammatory disease drug into the clinic
Avrobio hopes to chart rebound after Fabry setback with lysosomal storage disorder gene therapy
Seismic emerges with $101M, Harvard billionaire founder and leadership team fresh off $1.9B exit
Axsome’s migraine drug finally slated for FDA inspection, but investors want to know about stalled depression therapy
J&J pauses COVID-19 vaccine production at Dutch plant in temporary pivot to RSV shot: NYT
GN’s Jabra sends self-fitting hearing aids to market for $799 ahead of FDA over-the-counter ruling
CVS Health beats the Street with $1.3B in profit for Q4
Eli Lilly, Innovent's PD-1 in troubled waters as FDA review, oncology chief's comments portend likely rejection

Featured Story

GSK kills one of Barron’s early darlings, axing two synthetic lethal programs and Epizyme pact

By Nick Paul Taylor

Shortly after becoming GlaxoSmithKline’s chief scientific officer, Hal Barron highlighted GSK3326595 as one of four early-stage cancer programs to watch. Today, with Barron’s time at the company nearing its end, GSK axed the PRMT5 inhibitor and sibling molecule GSK3368715 from its pipeline.

Pfizer tidies up pipeline while eyeing external science to add $25B in revenue by 2030

By Kyle LaHucik

Pfizer is doing a little house cleaning of its pipeline, but not to worry. CEO Albert Bourla is expecting to bring on external science that could help reap "at least $25 billion of risk-adjusted revenues" by 2030.

Checkmate plucks BMS exec Bash to be new CEO

By Max Bayer

Checkmate Pharmaceuticals has hired Bristol Myers Squibb SVP Alan Bash as president and CEO, completing a more than three-month search for someone to fill the top post. The company hopes Bash will be able to replicate his success overseeing the U.S. launch of Opdivo.

Rivus throws down mid-stage liver fat data on quest to climb NASH mountain

By Annalee Armstrong

Considering NASH drug development has stumped companies big and small, can newcomer Rivus Pharmaceuticals move the needle? The Charlottesville, Va.-based company hopes so, and is out today with data on its lead candidate showing a reduction in liver fat, a key hallmark of NASH, or non-alcoholic steatohepatitis.

Chasing Novartis and Roche, Ventus banks $140M to take inflammatory disease drug into the clinic

By Nick Paul Taylor

The money keeps flowing into Ventus Therapeutics. Just 10 months after raising one mega-round, the undruggable target specialist has banked a further $140 million as it prepares to file three INDs next year.

Avrobio hopes to chart rebound after Fabry setback with lysosomal storage disorder gene therapy

By Kyle LaHucik

Avrobio's gene therapy for a rare lysosomal storage disorder showed potential durability in the first three patients more than one year after infusion. It's a small patient group, but Avrobio hopes it will be big enough to chart a rebound after ditching a gene therapy program for Fabry disease last month.

Seismic emerges with $101M, Harvard billionaire founder and leadership team fresh off $1.9B exit

By Kyle LaHucik

With the help of Harvard billionaire professor Timothy Springer, Ph.D., and other academic founders, Jo Viney and Alan Crane are now putting up the open sign for Seismic Therapeutic with $101 million to start off.

Axsome’s migraine drug finally slated for FDA inspection, but investors want to know about stalled depression therapy

By Max Bayer

The FDA will in fact be able to inspect Axsome’s manufacturing facility for its migraine drug by the decision date as the agency gets these crucial inspections back on track following COVID disruptions.

J&J pauses COVID-19 vaccine production at Dutch plant in temporary pivot to RSV shot: NYT

By Fraiser Kansteiner

The news that Johnson & Johnson stopped making its pandemic vaccine at a key European plant came as a bit of a shock. Not to worry, though, the company says—the production pause was all part of the plan and should be over by next month.

GN’s Jabra sends self-fitting hearing aids to market for $799 ahead of FDA over-the-counter ruling

By Andrea Park

The Enhance Plus earbuds have been cleared by the FDA as self-fitting hearing aids.

CVS Health beats the Street with $1.3B in profit for Q4

By Paige Minemyer

CVS Health posted $1.3 billion in profit for the fourth quarter of 2021, up from $973 million in the prior-year quarter.

Eli Lilly, Innovent's PD-1 in troubled waters as FDA review, oncology chief's comments portend likely rejection

By Angus Liu

An FDA rebuff looks almost certain for Eli Lilly and partner Innovent Biologics’ PD-1 inhibitor Tyvyt as an overwhelmingly negative internal FDA review ahead of an advisory committee meeting suggests the agency is unwilling to consider a drug solely based on clinical data from China.