Here are the latest stories being discussed in biopharma today:
New Set of Biotech Tickers on the Horizon as Industry Heats up
The biotech market is expected to see a small surge of IPOs this spring, introducing a new set of stock tickers for tracking. One such proposed name is BOLD, anticipated to be the Nasdaq stock name for Boundless Bio. This move marks a return for the ticker following its release after Audentes Therapeutics was bought by Astellas for $3 billion in 2019. Boundless Bio is expected to make its Wall Street debut soon.
BeiGene Achieves FDA Approval for PD-1 Drug After Delayed Journey
After a lengthy delay, BeiGene has finally been granted FDA approval for its PD-1 inhibitor, Tevimbra. The antibody treatment’s US availability is expected in the second half of 2024, intended for treating metastatic esophageal squamous cell carcinoma following chemotherapy.
Biotheus Expands ADC Pact with Hansoh; Novartis Grows in Singapore; Astellas Breaks Cartesian Deal
Biotheus has expanded its ADC agreement with Hansoh Pharmaceutical, obtaining a license to create its own ADC product using an anti-EGFR/cMet bispecific antibody developed by Biotheus. Moreover, Novartis has invested $256 million in expanding its manufacturing ability in Singapore, aiming to focus on antibody-drug production. Astellas Pharma is breaking up its partnership with Cartesian Therapeutics, surrendering its study on Xork to focus on its own gene therapy for Pompe disease.
Madrigal’s NASH Drug Receives First Ever FDA Approval for Liver Disease
Madrigal Pharmaceuticals has gained accelerated approval for its NASH drug, resmetirom, marking a significant milestone for this previously untreatable liver disease. The drug, now named Rezdiffra, has a wholesale acquisition cost of $47,400 per year, with availability expected in April.
EuroAPI Suspends Product at Italian Site Over Quality Control Concerns
EuroAPI has temporarily halted production at its Brindisi, Italy site, as potential misconduct led to quality control issues being identified. Relevant health
