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40 Years of Failure. One Phase 3 Trial. RAS Just Became Druggable.
Revolution Medicines is taking on what the entire pharmaceutical industry said was impossible: targeting the RAS protein, oncology's most notorious "undruggable" target, with daraxonrasib. Early data has been encouraging—a 26-patient Phase 1 cohort showed a median overall survival of 13.1 months in metastatic pancreatic cancer patients, and Phase 3 trials are ongoing. For a cancer where progress is usually measured in weeks, the early signal is striking. The drug works across multiple KRAS G12 mutations, opening the door to treating pancreatic, lung, and colorectal cancers with KRAS mutations that collectively account for an estimated 110,000 new U.S. diagnoses each year.
Why it matters: This isn't just one drug beating one cancer. It validates an entirely new approach to the most commonly mutated protein family in human tumors, potentially unlocking a market analysts project could reach $7.8 billion by 2034 and reshaping treatment across multiple cancer types.
Read more →Clinical and Regulatory
The FDA Just Fast-Tracked a Guided Missile for the Deadliest Lung Cancer
The FDA granted Priority Review to ifinatamab deruxtecan, a B7-H3 targeting ADC from Daiichi Sankyo and Merck, for small cell lung cancer patients who relapsed after chemo. The drug posted a 48% response rate in a disease where second-line options buy patients less than two months on average. Approval would make it the first-ever B7-H3 targeted therapy to reach patients.
Read more →The Eye Cancer That Had Almost No Treatments Just Got Real Data
IDEAYA's darovasertib combo showed encouraging results in metastatic uveal melanoma patients, with a median progression-free survival of 7.0 months and a 34% tumor response rate in a single-arm Phase 2 study. The drug targets the half of patients who can't use the only approved therapy. An FDA filing is planned for late 2026, and shares jumped 19%.
Read more →Off-the-Shelf CAR-T Just Passed Its Biggest Test Yet
Allogene's freezer-ready CAR-T therapy cleared residual lymphoma cells at 3.5 times the rate of observation alone, though two of 12 patients required hospitalization for heart-related conditions. The kicker: allogeneic CAR-T could be dramatically cheaper than the $400,000+ for today's custom-built versions. Only 24 patients so far, and durability data won't land until 2027, but the early signal is the strongest yet for allogeneic CAR-T.
Read more →Deals and Strategy
Regeneron Just Crashed the Hottest Party in Oncology
The antibody powerhouse signed a $2.1 billion collaboration with Telix Pharmaceuticals to enter the radiopharmaceutical space, joining Novartis, BMS, AstraZeneca, and Lilly in a six-way race. Unlike its peers, Regeneron chose a partnership over an acquisition, betting its antibody-engineering platform is the secret ingredient radioactive drugs need to find their targets.
Read more →Big Pharma's Immunology Spring Cleaning Has Begun
Boehringer Ingelheim discontinued an early-stage program for insufficient efficacy. Kyowa Kirin discontinued rocatinlimab, a late-stage eczema drug, over safety concerns. Neither trend signals a retreat from immunology; major players are aggressively investing elsewhere in the space. The message: when Dupixent and Skyrizi set the bar this high, "good enough" drugs don't survive.
Read more →GSK Launches Five Phase 3 Trials for a Cancer Most ADC Makers Ignore
While the biggest ADC players fight over breast and lung cancer, GSK is betting on gynecologic cancers with Mo-Rez, a B7-H4 targeting ADC that posted a 62% response rate in platinum-resistant ovarian cancer. Five simultaneous Phase 3 trials in 2026 is the company's boldest oncology move in years, targeting a patient population desperate for options.
Read more →Funding and Financings
Two Biotechs Filed $100M IPOs on the Same Day. That's Not a Coincidence.
Seaport Therapeutics (depression) and Hemab Therapeutics (rare bleeding disorders) both filed for $100 million Nasdaq IPOs on April 10. Q1 2026 saw the highest biotech IPO haul since 2021 at $1.7 billion, but the market remains picky: real clinical data and top-tier backers required.
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