Latest from Mandy Jackson
Restructuring Edition: Kronos is laying off most of its employees as it considers strategic options, including a potential sale of its assets. Also, Agenus is restructuring and other companies revealed job cuts in Q3 earnings reports, including Sensei, AN2, NextCure and Aurinia.
Much anticipated Phase II results in obesity for Amgen’s GLP-1 agonist/GIP antagonist showed up to 20% weight loss, but without detailed data the drug’s competitiveness is hard to ascertain.
After years of controversy, simufilam did not achieve statistical significance on any endpoints in ReThink-ALZ, so the company ended ReFocus-ALZ and its long-term extension study.
Private Company Edition: The Danish ADC developer, after extending its series A twice, raised a series B to take multiple programs into the clinic. Also, Neurelis sold its Neffy royalties for $208m, Enveda closed a $130m series C round and C Ray’s series A+ financing raised $100m-plus.
Venture capital funding is up, and initial and follow-on public offerings are growing, but the building wave of investment in biopharma has not reached all companies.
With a US FDA determination that sotagliflozin cannot be approved for type 1 diabetes at this time, Lexicon is shutting down its commercial organization to focus on its R&D pipeline.