Original reporting and analysis on the stories shaping biotech.
Legend Biotech just showed it can build CAR-T cells inside a patient's body with a single injection, no factory required. The early data are stunning, the implications are enormous, and the race to replace today's six-week manufacturing nightmare just got very real.
Telix Pharmaceuticals just presented early safety data for a Phase 3 challenger to Novartis's $2 billion blockbuster Pluvicto in prostate cancer. The oven is warming up, but the real test is still ahead.
Servier just paid $1.55 billion upfront (with another $1.1 billion in milestones) for an oral pill that could become the first approved treatment for Becker muscular dystrophy. The pivotal trial data drop later this year, and analysts are modeling $2.2 billion in peak sales.
For 24 years, no drug has been able to knock Gleevec off its throne as the go-to treatment for GIST. GSK just showed up at ASCO 2026 with early data on velzatinib that has oncologists using the words "paradigm shift" — but the phase 3 gauntlet is just beginning.
Abivax reported some of the best ulcerative colitis data ever seen, with 51% remission rates that blew away placebo. Then investors noticed the cancer cases in the safety tables, and the stock cratered 30-40% in a single day.
Fulcrum Therapeutics' sickle cell drug showed real promise, but the FDA shut it down over cancer fears tied to an entire drug class. The stock cratered 50%, the company's only clinical program vanished, and the implications stretch far beyond one biotech.
UCB swooped in with $2 billion in cash to snag Candid Therapeutics, killing the company's planned IPO in the process. The deal spotlights big pharma's growing obsession with T-cell engagers for autoimmune disease and signals that 2026's M&A frenzy is just getting started.
Revolution Medicines' daraxonrasib just doubled overall survival in metastatic pancreatic cancer, shattering a barrier that's stood for decades. Now the FDA has cleared an early access program before the drug is even approved, and Wall Street thinks this could be a $10 billion opportunity.
A first-in-class bispecific antibody just cut the risk of death by 34% in lung cancer, outperforming a modern immunotherapy combo. The catch? The entire trial was run in China, and Wall Street wanted more.
Eli Lilly just licensed a long-acting GLP-2 drug from South Korea's Hanmi Pharma in a deal worth up to $1.26 billion. The target: a rare gut disease where the only approved treatment demands a daily injection, and the promise of replacing it with one shot per month.
BioNTech is shutting down four manufacturing sites, cutting 22% of its workforce, and handing all COVID vaccine production to Pfizer. The reason? A massive, €17.4-billion-funded bet that its future lies in cancer, not pandemics.
Eli Lilly just committed up to $3 billion to partner with a Chinese drugmaker most Western investors have never heard of. The deal covers five undisclosed drug programs, and the secrecy is almost as interesting as the price tag.
Merck's antibody-drug conjugate sac-TMT just became the first ADC to beat chemotherapy on both overall survival and progression-free survival in advanced endometrial cancer. For patients who'd exhausted chemo and immunotherapy, this Phase 3 win could rewrite the treatment playbook.
ASCO 2026 kicked off with Bristol Myers Squibb unveiling pivotal myeloma data for its next-gen CELMoD drug and Pfizer flexing seven years of stunning lung cancer results. Opening day also delivered brain radiation breakthroughs and the first randomized multicancer blood test data.
Big pharma is pouring over $10 billion into AI partnerships to fix its brutal R&D economics, and early clinical data shows AI-designed drugs succeeding at nearly double the historical rate. But the ultimate test (a fully AI-discovered, FDA-approved drug) still hasn't happened.
AACR 2026 delivered three standout lung cancer datasets: Merck's new two-in-one antibody, a rescue drug for patients who've exhausted all options, and a pill keeping cancer at bay for over four years. The NSCLC landscape just got a whole lot more competitive.
BioNTech/BMS and Pfizer are building nearly identical lung cancer drugs but just made opposite bets on how to prove they work. Their ASCO 2026 split on trial endpoints could reshape how the next generation of cancer therapies reaches patients.
Kelonia's in vivo CAR-T therapy skips the factory entirely, reprogramming your immune cells inside your body. At ASCO 2026, all six patients in the trial hit the deepest possible cancer response, and analysts are calling the data 'nutty' in the best way possible.
Biopharma's confidence index just hit 96 out of 100, fueled by record M&A and a dealmaking frenzy that could top $170 billion this year. But underneath the optimism, a growing chasm between large pharma's steady hiring and small biotech's skeleton crews tells a very different story.
Biotech startups are dodging down rounds by reopening old funding rounds instead of raising new ones. It's clever financial engineering, but the strategy reveals just how much stress still lurks beneath the surface of private biotech markets.
The FDA keeps approving rare disease drugs at a record pace, but surprise rejections, reversed decisions, and canceled meetings are rattling the companies and investors who make those treatments possible. The result: a funding crisis hiding inside a regulatory one.
The FDA just approved the first oral antiviral that prevents COVID after exposure, not just treats it. Shionogi's Xocova cut symptomatic infection by 67% in a pivotal trial, filling a gap that's been wide open since Omicron killed off the antibody options.
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