Wave of failed trials hits biotech

Today’s Big News

Dec 11, 2024

Candel burns bright as phase 3 prostate cancer win sends stock up 200% 


2 Boston-area biotechs shed staff, fuse to form genetic medicines company nChroma Bio


Cellectar lays off 60% of staff, ditches lead radiotherapy over FDA demand for another trial


Q32's stock plunges in wake of phase 2 eczema fail for anti-IL-7R antibody


AnaptysBio scraps atopic dermatitis asset after antibody fails to meet all endpoints in ph. 2


Spruce saws off only drug after 2nd hyperplasia fail, leaving biotech's direction in doubt


SABCS: Eli Lilly's oral SERD Ember counts on Verzenio to broaden its glow 


Angitia raises $120M series C to fund trio of musculoskeletal trials


Jury convicts ex-CytoDyn CEO on 9 counts tied to biotech fraud


BenevolentAI pivots back to 'TechBio' roots, causing more layoffs


In midstage colorectal cancer trial, Cardiff's KRAS candidate linked to 64% response rate at higher dose


Roche said it didn’t want to buy Poseida last year: A look at how the $1.5B buyout came to be

The Top Line Podcast: Don’t miss out on the newest episode. Listen now.

 

Featured

Candel burns bright as phase 3 prostate cancer win sends stock up 200%

A phase 3 prostate cancer trial of Candel’s oncolytic virus has met its primary endpoint, sending the stock up more than 200%. The phase 3 hit was offset by the failure of a midphase study.
 

Top Stories

2 Boston-area biotechs shed staff, fuse to form genetic medicines company nChroma Bio

Chroma Medicines and Nvelop Therapeutics are fusing their names and science to launch nChroma Bio along with the backing of a $75 million fundraising round led by Cormorant Asset Management, Arch Venture Partners, Atlas Venture and Newpath Partners.

Cellectar lays off 60% of staff, ditches lead radiotherapy over FDA demand for another trial

Cellectar Biosciences is laying off 60% of its employees and halting work on its sole clinical-stage radiotherapy after the company received feedback from the FDA that a fresh study would be required before approval.

What’s next in AI’s drug discovery journey

For all the consumer-facing headlines of generative AI’s healthcare failures—some less serious, others more troubling—a contrast is unfolding in the greater pharma and biotech universe.

Q32's stock plunges in wake of phase 2 eczema fail for anti-IL-7R antibody

Q32 Bio still sees potential for its anti-IL-7R antibody as an alopecia treatment despite failing a phase 2 eczema study—but investors appear unconvinced.

AnaptysBio scraps atopic dermatitis asset after antibody fails to meet all endpoints in ph. 2

AnaptysBio is dropping its atopic dermatitis drug candidate after the compound failed to reduce eczema area and itch severity in a phase 2b trial, missing all of its endpoints.

Spruce saws off only drug after 2nd hyperplasia fail, leaving biotech's direction in doubt

Spruce Biosciences has trimmed the only drug from its pipeline in the wake of a second phase 2 trial this year, leaving the biotech’s future direction in doubt.

SABCS: Eli Lilly's oral SERD Ember counts on Verzenio to broaden its glow

It looks like Eli Lilly’s oral selective estrogen receptor degrader (SERD) imlunestrant may need some extra help to reach a broad patient population with ER-positive, HER2-negative breast cancer.

Angitia raises $120M series C to fund trio of musculoskeletal trials

Less than a year after completing a series B extension round, Angitia has set its sights even higher with a $120 million series C that the biotech will use to push its three musculoskeletal candidates through ongoing trials.

Jury convicts ex-CytoDyn CEO on 9 counts tied to biotech fraud

A jury has convicted both former CytoDyn CEO Nader Pourhassan, Ph.D., and ex-Amarex CEO Kazem Kazempour on several charges tied to defrauding biotech investors.

BenevolentAI pivots back to 'TechBio' roots, causing more layoffs

BenevolentAI has begun a “significant organizational restructuring” that will lead to layoffs. The company framed the changes as a return to “its founding TechBio mission” after years in which it aspired to be a fully fledged biotech with a wholly owned, late-phase pipeline.

In midstage colorectal cancer trial, Cardiff's KRAS candidate linked to 64% response rate at higher dose

Cardiff Oncology’s investigational PLK1 inhibitor paired with standard-of-care treatment showed a 64% overall response rate (ORR) in the high-dose cohort of a midstage colorectal cancer trial.

Roche said it didn't want to buy Poseida last year: A look at how the $1.5B buyout came to be

After receiving an unsolicited acquisition proposal from an unnamed Big Pharma in 2023, Poseida reached out to inform partner Roche of the offer, at which point the Swiss pharma said it wasn’t interested in buying the biotech at the time.

Trump names Andrew Ferguson as pick for FTC chair in potential win for biopharma dealmaking

President-elect Donald Trump on Tuesday nominated Andrew Ferguson to lead the U.S. Federal Trade Commission. Ferguson, who has promised to be tough on Big Tech while adopting a more agreeable stance around dealmaking in general, could bode well for a possible revival in biopharma M&A.

Walgreens in talks for sale to PE firm: WSJ

Walgreens is weighing a potential sale to a private equity firm, according to a report in The Wall Street Journal.
 
Fierce podcasts

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What can we learn from 2024’s biotech IPOs?

This week on "The Top Line," we explore the biotech IPO market rebound and ask: Is the momentum here to stay?
 

Resources

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Building a “Best Practice” R&D Organization in Biopharma

We interviewed 14 R&D biopharma leaders on the critical success factors for building a Best Practice R&D organization. This report shares what we learned.
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Single Cell RNA Profiling FFPE Tissue

Explore the robust cross-platform agreement between scRNA-seq and bulk RNA-seq, ensuring consistent and reproducible data on immune cell presence.
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Straight to Market in an Autoinjector

The use of prefilled syringes to administer biotherapeutics is beginning to gain traction because they offer a range of stability, efficacy, and patient safety benefits. Download this white paper to learn how Lonza has developed a novel workflow to ensure confidence regarding functionality in PFS and autoinjectors.
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Planning for success in cell-based manufacturing

Learn how to evaluate quality documentation to help you select the right raw materials at early decision points for your cell-based manufacturing processes.
 

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