1. Scrip
  2. >>Business
  3. >>Financing
  4. >>Finance Watch

Finance Watch: Biopharma Stocks Sink On RFK Jr. Nomination To Head HHS

Telix Lists In The US, Medicus Launches IPO

 
• By Mandy Jackson

Public Company Edition: President-elect Donald Trump’s nomination of Robert F. Kennedy Jr. to lead the US Department of Health and Human Services is seen as raising the potential for regulatory risk. Also, Geron revealed up to $375m in royalty and debt financings, while Zai Lab grossed $200m in a FOPO.

Finance Watch Public Company
• Source: Alamy

President-elect Donald Trump’s plan to nominate Robert F. Kennedy Jr. as secretary of the US Department of Health and Human Services was not entirely unexpected, but it sent biopharmaceutical stock valuations plummeting, nonetheless. Biotechnology stock indices and exchange-traded funds sank in the afternoon on 14 November immediately after the announcement and continued to fall on 15 November.

Speed Of Novel Approvals In Jeopardy As RFK Jr. Lands US HHS Secretary Nod

The US FDA’s Peter Marks warned novel approvals will suffer if the agency is forced to spend its time relitigating...

The prospect of having RFK Jr. in charge of the US Food and Drug Administration unsettled investors because of his anti-vaccine activism and prior statements about drug pricing, FDA user...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Finance Watch

Finance Watch: Prime, Kyverna, Allogene And More Announce Job Cuts

 
• By Mandy Jackson

Restructuring Edition: Prime Medicine ended its sole clinical-stage program to prioritize preclinical and partnered programs, cutting 25% of its workforce to extend its cash runway. Meanwhile, earnings season brought workforce reductions at Kyverna, Allogene, Leap and others.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

 
• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

Finance Watch: Deerfield Closes $600m-Plus VC Fund; Gates Speeds Up Health Investments

 
• By Mandy Jackson

Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.

Finance Watch: Unity Lays Off All Employees As It Evaluates Alternatives

 
• By Mandy Jackson

Restructuring Edition: Unity unveiled more Phase IIb data for lead asset UBX1325 along with plans to shed its workforce while seeking a partner for it and other drugs. Also, Ono is consolidating US employees at one site, Entrada is cutting its workforce by 20% and other recent strategic shifts.

More from Scrip

Genentech, Orionis Stick Together In Second Molecular Glue Deal

 
• By Alaric DeArment

Deal Snapshot: Orionis and Genentech signed a new partnership focused on molecular glues, on top of the one that they struck in 2023.

Finance Watch: Prime, Kyverna, Allogene And More Announce Job Cuts

 
• By Mandy Jackson

Restructuring Edition: Prime Medicine ended its sole clinical-stage program to prioritize preclinical and partnered programs, cutting 25% of its workforce to extend its cash runway. Meanwhile, earnings season brought workforce reductions at Kyverna, Allogene, Leap and others.

Merck KGaA Plans Phase III For Enpatoran After Mixed Phase II Lupus Data

 
• By Jessica Merrill

The Phase II study testing the novel TLR7/8 inhibitor met the primary endpoint in a cohort of patients with cutaneous lupus erythematosus and systemic lupus erythematosus with rash, but did not in patients with SLE.