Original reporting and analysis on the stories shaping biotech.
Parabilis Medicines just pulled off the largest venture-backed biotech IPO in history at $670 million, one day after signing a deal with Regeneron worth up to $2.3 billion. The real story isn't just the money; it's what this says about who gets funded in biotech right now.
A new study in Cell Host & Microbe reveals that GLP-1 drugs like Ozempic may fight depression by fertilizing a specific gut microbe that produces a natural "chill pill" for your brain. The finding could dramatically expand what these blockbuster drugs are good for.
Enliven Therapeutics posted leukemia drug data that has every analyst on Wall Street screaming Buy. The tiny biotech's CML pill is eyeing territory that Novartis has owned for two decades, and the numbers suggest it might actually belong there.
SonoThera just raised $125 million to deliver gene therapies using ultrasound and microbubbles instead of viruses. Four Big Pharma venture arms wrote checks, signaling that the race to solve gene therapy's biggest bottleneck is getting loud.
Novo Nordisk's chief scientist publicly admitted CagriSema's weight loss results are "not competitive" with Eli Lilly's retatrutide at ADA 2026. In the obesity drug arms race, that kind of candor from the incumbent is almost unheard of, and Wall Street is already picking sides.
Sanofi just halted another late-stage trial, and it's not the first pipeline disappointment this year. With Dupixent's patents expiring around 2031 and its top successor underwhelming Wall Street, the pressure to find a Plan D is getting very real.
Takeda's oral psoriasis pill zasocitinib just beat BMS's Sotyktu in a head-to-head trial, delivering more than double the complete skin clearance rate. The first direct showdown between two TYK2 inhibitors could reshape the autoimmune market and put serious pressure on BMS's underperforming franchise.
Over two dozen studies at ASCO 2026 linked Ozempic, Wegovy, and Mounjaro to lower cancer risk, slower tumor progression, and better survival across multiple cancer types. The data is observational, not definitive, but the consistency of the signal has oncologists paying serious attention.
Gilead's $21 billion ADC bet just failed its second lung cancer trial, with EVOKE-03 stopped early for futility. As rivals race ahead in first-line NSCLC, the company's solid-tumor ambitions are looking increasingly fragile.
For 40 years, scientists called the RAS cancer gene "undruggable." Revolution Medicines just showed Phase 3 data that nearly doubled survival in pancreatic cancer patients, and the implications stretch far beyond one disease.
Eli Lilly just agreed to pay up to $3 billion to a Chinese pharma company most U.S. investors have never heard of. The Haisco deal is part of a massive China shopping spree that reveals exactly how Big Pharma is building its next-generation pipeline.
The FDA just approved the first new sunscreen ingredient in over 20 years, a UV filter that Europeans and Asians have been using since 2000. Here's why it took so absurdly long, and why dermatologists are calling it a genuine public health win.
Japan just granted full approval to Telomelysin, the world's first oncolytic adenovirus for esophageal cancer. It's a genetically engineered virus that hunts and destroys tumor cells from the inside, and it could reshape how we think about virus-based cancer therapy.
Novartis just signed its second molecular glue deal with Orionis Biosciences, this time worth up to $1.4 billion in milestones. It's part of a Big Pharma spending spree on a technology that could crack open proteins nobody thought were druggable.
Fulcrum Therapeutics had promising sickle cell data, $333 million in cash, and a drug that was actually working. Then one FDA meeting erased it all, triggering an 85% workforce cut and turning a clinical-stage biotech into a cash shell overnight.
For the first time ever, a Phase 3 trial shows a finite therapy can functionally cure chronic hepatitis B, with one in four selected patients staying virus-free after stopping all treatment. The 300-million-patient hep B market just got its biggest shakeup in decades.
The Pentagon just labeled WuXi AppTec a "Chinese military company," and the ripple effects could force hundreds of biotech and pharma companies to rethink how their drugs get made. The world's largest CDMO is now at the center of a geopolitical earthquake.
A two-in-one cancer drug just did something unprecedented: it beat an established immunotherapy on overall survival in a head-to-head Phase 3 lung cancer trial. The results could reshape how we treat one of oncology's toughest cancers.
Parabilis Medicines raised over $800 million in private funding and is now targeting a ~$450 million Nasdaq IPO. The deal could be the biggest test yet of whether biotech's long-frozen IPO window is truly back open in 2026.
AstraZeneca dumped its GLP-1 drugs in 2018 for $200 million. Now it's spending billions to claw back into obesity, and its new oral pill just posted data that Wall Street calls "good enough to compete." The real question: is third place in a $100B+ market worth the price of admission?
Johnson & Johnson is spending $1 billion on Firefly Bio, a biotech with zero drugs in clinical trials. The bet: a new hybrid drug class called degrader antibody conjugates that could finally crack KRAS-driven cancers. Bold move or expensive gamble?
GSK is spending $10.6 billion to acquire Nuvalent and its two unapproved lung cancer drugs, marking the company's largest deal in over a decade. It's a bold bet on precision oncology with a razor-thin margin for error.
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