Here are the latest stories being discussed in biopharma today:
FOMO, detox and depth: Signs of a substantial biotech market rally emerge
Several key indicators in recent months suggest that a genuine rally in the biotech market is finally taking place. Following the downturn of 2022 and 2023, positive data releases and effortless follow-on offerings from public biotechs are driving optimism in the industry. Biopharmas have reportedly raised $13.7 billion in secondary raises in 2024, the XBI index has increased 56% from last year’s lows and has surpassed the $100 mark. Crossover rounds are also making a return and IPO activity is reigniting.
Novo Nordisk unveils promising next-gen oral weight loss drug data
Novo Nordisk has revealed early Phase I trial data of oral amycretin indicating a 13.1% weight loss in patients after just 12 weeks. The drug, a co-agonist to both GLP-1 and amylin receptor, is also being tested in a subcutaneous form. The trial results were unveiled at the company’s Capital Markets Day in Copenhagen. Novo cited its excitement about the potential of amylin as a target for the drug.
TauRx plans regulatory filings after disclosing Phase III Alzheimer’s drug results
TauRx is planning regulatory submissions for its tau aggregation inhibitor to treat Alzheimer’s disease. After revealing the updated results from a subset of patients enrolled in a registrational trial, the company stated that it has initiated regulatory engagement in the UK and the US for potential approval of their HMTM treatment. Additional submissions in other markets are to follow.
Ultimovacs’ melanoma vaccine fails in Phase II trials
Ultimovacs’ experimental UV1 vaccine did not meet primary or secondary endpoints versus two checkpoint inhibitors in unresectable or metastatic melanoma. The company announced that it will cease the program and focus on its other assets.
Merck KGaA exits BTK inhibitor race, aims to focus on ‘external innovation’
Merck KGaA is exiting the BTK inhibitor race following a Phase III disappointment several months ago. During its full-year earnings call, CEO Belén Garijo stated that the company will instead focus on ‘external innovation’ and its remaining late-stage candidates.
Boundless Bio plans IPO as it nears safety and efficacy data for clinical cancer treatment
Boundless Bio, a San Diego startup developing a new approach to treating cancer, filed to go public on the Nasdaq. The five-year-old company currently has two Phase III candidates for squamous cell head and neck carcinoma and tenosynovial giant cell tumor.
