ALX, Atreca discard drugs

Today’s Big News

Aug 11, 2023

Another round of layoffs hit BMS, with 100+ people impacted after earnings miss


Watchdog-pile: SEC to probe Illumina acquisition amid Grail deal fallout


ALX follows Gilead in axing CD47 blood cancer trials as data disappoint


Former Big Pharma darling Atreca axes lead drug, 40% of staff in last-ditch pivot to ADCs


Supreme Court blocks Purdue Pharma's bankruptcy settlement, threatening immunity to Sackler family


Imperative Care completes long-planned reorg into parent of 4 stroke tech companies

 

Featured

Another round of layoffs hits BMS, with 100+ people impacted after earnings miss

Bristol Myers Squibb has laid off more than 100 employees amid a reconfiguration of expenses that follows disappointing earnings results.  
11-14
Sep
Philadelphia, PA
 

Top Stories

Watchdog-pile: SEC to probe Illumina acquisition amid Grail deal fallout

The Securities and Exchange Commission has begun its own investigation into Illumina’s ill-fated acquisition of Grail—a multibillion-dollar quest first launched nearly three years ago.

ALX follows Gilead in axing CD47 blood cancer trials as data disappoint

The dream of using anti-CD47 drugs to boost chemotherapy in blood cancer patients is unraveling fast. Weeks after Gilead Sciences stopped its phase 3 trial for futility, ALX Oncology has called a halt to a pair of studies for a rival therapy.

Former Big Pharma darling Atreca axes lead drug, 40% of staff in last-ditch pivot to ADCs

Atreca is taking drastic action to keep the show on the road into next year. With its cash running low and share price in the basement, the biotech has decided to stop work on its lead candidate, switch its focus to preclinical antibody-drug conjugates and lay off 40% of its staff.

Supreme Court blocks Purdue Pharma's bankruptcy settlement, threatening immunity to Sackler family

The Supreme Court has halted Purdue Pharma’s $6-billion bankruptcy settlement, which granted the company’s former owners—the Sackler family—immunity from civil suits related to the opioid crisis.

Imperative Care completes long-planned reorg into parent of 4 stroke tech companies

Fulfilling an imperative laid out years ago, Imperative Care has reorganized into a parent company overseeing four distinct businesses, each developing a different set of technologies to improve care for strokes and other vascular diseases.

'Like a dairy farm treats cows': Henrietta Lacks' estate hits Ultragenyx with gene therapy vector lawsuit

Less than a month after the family of Henrietta Lacks reached a settlement with Thermo Fisher over its use of Lacks’ cells, another drugmaker stands accused of profiting from a racist medical system.

J&J's Abiomed receives Class I recall label over potential Impella collisions with TAVR implants

Abiomed has identified 27 cases where the stentlike struts on the outer edge of the TAVR implant have connected with the Impella’s spinning blades.

Pfizer faces whistleblower lawsuit from former compliance manager who says he flagged possible fraud in China

Frank Han, Pfizer's former director of global compliance analytics, has filed a civil complaint against the drugmaker. Han claims he was terminated for identifying potential issues relating to the Foreign Corrupt Practices Act.

Chutes & Ladders—Mirati CEO steps down after Krazati's hot and cold spell

A topsy turvy year for Mirati has taken its latest turn, with CEO David Meek stepping down this week effective immediately.

Amylyx's ALS drug Relyvrio gets off the ground as company eyes new brain disorder

Amylyx’s amyotrophic lateral sclerosis drug Relyvrio ​​​​​​​continues to wow Wall Street. The drug brought in $98.2 million revenue in the second quarter, handily beating analysts’ consensus estimates of below $92 million.
 
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