BridgeBio fears tough market until 2024
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Today's Rundown

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US to provide Bavarian Nordic's vaccine Jynneos to some at risk for monkeypox, CDC says

In response to the threat of a spread of monkeypox, the United States will provide doses of the Jynneos vaccine to some at-risk adults. The U.S. has a stockpile of more than 1,000 doses of the vaccine, according to the CDC.

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Top Stories

Surgeon general issues landmark report with new solutions to combat crippling worker burnout issue

A new advisory from the U.S. surgeon general is pressing for stakeholders to alleviate healthcare worker burnout by reducing administrative and other burdens and improve access to mental health services.

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When will biotech markets get better? BridgeBio fears they may stay 'pretty bad' until 2024

BridgeBio Pharma is digging in for a prolonged bear market. Since suffering a phase 3 flop late last year, the biotech has taken a series of steps to extend its cash runway, reflecting its CEO’s belief that markets could “stay pretty bad up until the end of next year”.

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Dexcom, Insulet in talks to merge into a diabetes device behemoth: report

Diabetes devicemakers Dexcom and Insulet have already aligned their product lines—with Insulet’s Omnipod insulin pumps designed to be used alongside Dexcom’s continuous glucose monitors—and soon that may become much more permanent.

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Moderna CEO Bancel uses inaugural stock option to give $355M to charity

Stéphane Bancel, who joined Moderna back in 2013, is cashing out his original stock options in the company for charity, the biotech’s helmsman said Tuesday. All told, Bancel expects the move to yield a donation of about $355 million, after some $280 million in state and federal tax payments.

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Pfizer's Arena goal? Get out of the way and don't 'break the new toy'

Five months after Pfizer bought Arena, the team has delivered: Etrasimod, the immuno-inflammatory disease therapy that attracted the buyout, has been linked to a 27% remission rate in patients with ulcerative colitis in a phase 3 clinical trial.

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Howard University, Teva Pharmaceuticals launch coalition to advocate for equity through digital health

The group plans to advocate for improved access to care through digital health innovations and to be a hub of resources on the importance of digital health equity.

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Illumina obtains European companion diagnostic test approval for Bayer rare cancer drug Vitrakvi

Biopsy results from Illumina's TruSight Oncology Comprehensive test can now be used to identify patients with any solid tumors that harbor NTRK gene mutations.

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Boing! SpringWorks' stock jumps as phase 3 tumor trial hits goal

SpringWorks Therapeutics is bouncing to the FDA. With a phase 3 desmoid tumor trial hitting its primary and secondary endpoints, the Pfizer spinout is planning to seek approval for nirogacestat in the second half of the year. 

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J&J's crown jewel Stelara faces another potential rival as biosim player Alvotech touts trial win

In the last year of Johnson & Johnson's Stelara patent, companies are lining up to produce biosimilars. Alvotech, already armed with a promising Humira biosimilar in its pipeline, found therapeutic equivalence between its Stelara copycat and J&J's top product.

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AHA presses for False Claims Act probes to target payers over Medicare Advantage denials

The AHA wrote to the Justice Department seeking a new task force to investigate potential False Claims Act violations from Medicare Advantage plans.

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Know Labs bulks up C-suite to prep for FDA review of noninvasive glucose monitor

As it gears up to submit its noninvasive glucose monitoring technology for potential FDA clearance, Know Labs has recruited a pair of experts to its executive team to help smooth out the process.

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Teva's halt at troubled plant threatens to create shortages in wide range of injectable meds: report

The shuttering of Teva’s long troubled manufacturing facility in Irvine, California, may create shortages of up to 24 generic sterile injectable drugs, including five essential medications of which the company supplied more than 15% of the market last year, according to an industry group.

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AstraZeneca collects 2nd pulmonary fibrosis target from BenevolentAI collaboration

After securing targets in chronic kidney disease and idiopathic pulmonary fibrosis (IPF), AstraZeneca is collecting a second IPF target from its recently reupped collaboration with BenevolentAI.

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