Layoffs at Aligos as clinical dreams fizzle

Today's Big News

Feb 9, 2023

AstraZeneca deals another blow to IL-12, dumping therapy to follow BMS, Merck KGaA out of race


Despite rapidly emptying pipeline, AstraZeneca stays loyal to vaccine, immune therapy business


Magenta's C-suite heads out the door with 85% of staff as closing process gets underway


Aligos' hep B functional cure dream fizzles out as cash crunch and layoffs force focus on NASH, COVID-19


Fierce Biotech Fundraising Tracker '23: Garuda grabs $62M; Prokarium pulls in $30

 

Featured

AstraZeneca deals another blow to IL-12, dumping therapy to follow BMS, Merck KGaA out of race

Big Pharma involvement in IL-12 is fading fast. Days after Bristol Myers Squibb punted its IL-12 fusion protein, AstraZeneca has jettisoned a gene therapy to dial down its interest in the cytokine for the second time in as many quarters.
 

Top Stories

Despite rapidly emptying pipeline, AstraZeneca stays loyal to vaccine, immune therapy business

Scroll through AstraZeneca’s pipeline of new drug candidates in development and there remains one glaring omission. The Big Pharma that brought one of the world’s most widely used COVID-19 shots to market doesn’t have any more vaccines in development and only has a single new immune therapy in the clinic.

Magenta's C-suite heads out the door with 85% of staff as closing process gets underway

Last week, Magenta Therapeutics announced plans to close down. This week, executive leadership and staff are being handed their pink slips.

Aligos' hep B functional cure dream fizzles out as cash crunch and layoffs force focus on NASH, COVID-19

Aligos Therapeutics' rapid retreat from hepatitis B is nearly complete. One year after dropping two assets in response to clinical data, the biotech has put another two hepatitis B programs on the back burner and laid off staff to stretch its cash runway out to the end of 2024.

Fierce Biotech Fundraising Tracker '23: Garuda grabs $62M; Prokarium pulls in $30

Alongside the new year, we've launched a new Fierce Biotech Fundraising Tracker to keep the pulse on the industry's financing.

Vertex teases launch plans for first CRISPR gene editing therapy ahead of FDA decision

As Vertex Therapeutics nears completion of a historic FDA submission, the rare disease specialist has depicted a rosy launch picture for what could become the first CRISPR-based gene editing therapy.

Surmodics lays off 13% of staff after FDA shoots down drug-coated balloon

As Surmodics is forced to delay the launch of its SurVeil drug-coated balloon by several months at least, erasing some expected earnings from its 2023 forecasts, the company is looking to cut costs in other areas.

Looking forward to Humira biosimilar launch, Teva leans on Ajovy and Austedo as revenues sink

Teva's new CEO Richard Francis has his work cut out for him. After a year of declining sales for most products in 2022, the company plans to lean on growth drivers Austudo and Ajovy in 2023 as it looks forward to a Humira biosimilar launch.

Entering the endemic: What’s next for COVID testing?

Though the Biden administration is set to declare an official end to the COVID-19 public health emergency this May, that won’t necessarily bring immediate changes in the U.S. landscape of coronavirus tests, treatments and vaccines.

Do masks really protect against COVID-19? Meta-analysis authors want to see more evidence

A new meta-analysis finds that wearing masks during the COVID-19 pandemic—even N95 masks—may not have afforded individuals any more protection against the virus.
 
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