Here are the latest stories being discussed in biopharma today:

Point Biopharma’s Prostate Cancer Study Falls Short, Covid Biotech’s Stock Soars After Promising Early Phase III Data, Novo Nordisk Foundation Confirms Launch of Massive Vaccine Initiative

1. Point Biopharma’s recent study on prostate cancer radiopharmaceutical therapy fell short of expectations. The drug only postponed disease progression or death by 3.5 months, disappointing analysts who compared the results to Novartis’ Pluvicto. The study results could increase shareholders’ willingness to accept Eli Lilly’s proposed offer for Point Biopharma.

2. Invivyd, a biotech company specialising in Covid therapies, has seen a sharp rise in its stock after releasing encouraging early Phase III data. The company’s monoclonal antibody designed to prevent symptomatic Covid-19 in immunocompromised individuals showed high titer levels of serum virus neutralizing antibodies against the SARS-CoV-2 variant XBB.1.5.

3. The Novo Nordisk Foundation has confirmed the launch of a $260M vaccine initiative set to begin in early 2024. The Initiative for Vaccines and Immunity (NIVI) aims to develop new vaccines for tuberculosis, influenza, and group A Streptococcus. The foundation plans to hire up to 200 people internally and externally to support the initiative.

4. Biotech company, First Wave BioPharma, has announced plans to merge with ImmunogenX, another firm focusing on gastrointestinal diseases. ImmunogenX is particularly known for its development of the oral celiac disease drug, latiglutenase.

5. California-based company, Caliway Biopharmaceuticals, has raised $100M through the sale of 8 million shares. The funds will propel its small molecule injectable into Phase III trials for non-surgical subcutaneous fat reduction.

6. Replay’s Syena, a cell therapy start-up, has secured two integral partnerships. The company will acquire an exclusive worldwide license to IP related to T-cell receptors from the National Institutes of Health, and will also collaborate with Miltenyi Biotec on the manufacturing of TCR NK cell therapy targeting PRAME.

7. Sunstone Therapies has announced promising results for its Phase II study of depression treatment. In collaboration with Compass Pathways, Sunstone tested COMP360 on patients with incurable cancer and major depression. The psilocybin-based treatment significantly reduced depression severity.