| Today’s Big NewsJan 5, 2024 |
Doudna's Intellia, Zhang's Aera the latest gene editing biotechs to lay off staff Allogene makes ‘bold’ pivot, stopping pivotal trials in pursuit of first-line CAR-T cures Scorpion’s CEO Axel Hoos, CMO bite the dust as oncology biotech brings in new leadership Reeling from triple phase 3 failure, AlloVir cuts 95% of workforce Applied Therapeutics fails heart disease phase 3, seeks partner to bring molecule to market Boehringer Ingelheim deals thrice, ending week with $449M Kyowa Kirin tie up Psychedelic biotech MAPS PBC rebrands to Lykos following FDA filing, scores $100M financing CureVac touts COVID-19 vax data as platform validation, despite grade 3 adverse events Terns bows out of MASH race, reverts back to phase 1 with obesity, cancer assets Fierce Biotech Layoff Tracker 2024: AlloVir cuts 95% of team; Pfizer R&D site to lay off 285 staffers Chutes & Ladders—New year, new CEO at Scorpion Therapeutics Seizure drug mechanism could treat osteoarthritis, mouse data suggests The pandemic showed what CROs can do. In 2024, they face heightened expectations: report |
| By Max Bayer Intellia Therapeutics is the latest gene editing biotech to downsize following a dismal year for the industry. |
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By Nick Paul Taylor Nobody can accuse Allogene Therapeutics of lacking confidence. Believing that its CAR-T can boost cure rates, and thereby potentially make later-line treatment “obsolete,” the biotech has stopped two trials in advanced lymphoma patients to focus on a new study in people with minimal residual disease (MRD). |
By Gabrielle Masson Scorpion Therapeutics is entering its “next phase of growth” in 2024, leaving former CEO Axel Hoos, M.D., Ph.D., and ex-Chief Medical Officer Michael Streit, M.D., behind. |
By Annalee Armstrong Less than a month after AlloVir suffered a triple phase 3 failure, the allogeneic T cell immunotherapy biotech is cutting 95% of its workforce. |
By Nick Paul Taylor Applied Therapeutics’ stock market winning streak has come to an end. Having seen its shares soar over the past year, the biotech suffered a setback Thursday when it reported the failure of a phase 3 heart disease trial to hit its primary endpoint. |
By Annalee Armstrong Apparently thrice is nice for Boehringer Ingelheim, which has now announced a trio of deals this week. Friday’s tie-up involves €410 million ($449 million) for Kyowa Kirin to work on fibro-inflammatory diseases. |
By Max Bayer Psychedelics-focused MAPS PBC is rebranding to Lykos Therapeutics and tacking on $100 million in new capital, adding financial backing ahead of a possibly historic commercialization effort. |
By Gabrielle Masson CureVac says its monovalent and bivalent COVID-19 vaccine candidates produced meaningful immune responses at lower doses than similar approved vaccines and were generally safe—though grade 3 adverse events were recorded in the mid-stage trial. |
By Annalee Armstrong Terns Pharmaceuticals is bowing to competitive pressure and walking away from a liver disease that has long been without meaningful treatment options—until now. |
By Gabrielle Masson We really didn't want to have to create another Layoff Tracker this year. But here we are, launching the third annual iteration tracking biopharma layoffs. |
By Gabrielle Masson,Max Bayer,Annalee Armstrong It’s a new year and change is afoot at Scorpion Therapeutics, with both former CEO Axel Hoos, M.D., Ph.D., and CMO Michael Streit, M.D., hitting the exits. |
By Helen Floersh New research findings in mice suggest that drugs that inhibit a key protein involved in the pain response, such as the anti-epileptic and bipolar disorder drug carbamazepine, may be effective at slowing the progression of osteoarthritis. |
By Annalee Armstrong Clinical researchers showed the world what was possible during the COVID-19 pandemic. Those heightened expectations, driven by technology and an emphasis on diversity, have never fallen as the industry faces its future. |
By Zoey Becker Both companies opted not to renew their 2024 memberships with the Biotechnology Innovation Organization (BIO). UCB will still retain its membership in other top trade groups, including the Pharmaceutical Research and Manufacturers Association of America (PhRMA). |
By Ben Adams The attempted merger between leading biopharma data provider IQVIA and pharma ad specialist DeepIntent has been put on ice after continued scrutiny from the U.S. government. |
By Conor Hale The CE mark covers the Micra AV2 and VR2 cardiac implants, which the medtech giant describes as the world’s smallest. |
By Kevin Dunleavy Three days after the FDA included Novo Nordisk’s semaglutide treatments Ozempic and Wegovy on a list of medicines that it would monitor for side effects—one of them suicide ideation—a study of medical records of patients shows no link between use of the GLP-1 drugs and an increase in suicidal thoughts. In fact, the research shows that those who were on semaglutide were less likely to have suicidal thoughts than patients on other diabetes and obesity meds. |
By Heather Landi New Walgreens CEO Tim Wentworth signaled the drugstore retail giant is exploring new pharmacy models as cost-plus drug pricing gains momentum during the company's recent first-quarter earnings call. |
By Angus Liu A flurry of deals were inked by the likes of AstraZeneca, Johnson & Johnson, Roche and Boehringer Ingelheim with Asian companies. Big Pharma companies are also increasingly entrusting commercialization of some products in China to domestic firms. And more. |
Fierce podcastsDon’t miss an episode |
| | This week on "The Top Line," Fierce Biotech staff writer Gabrielle Masson and senior editor Annalee Armstrong look back at the year in biotech, which was defined by massive layoffs across the industry. They also discuss their favorite stories of the year, including an appearance from a popstar whose reputation precedes her. |
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