Original reporting and analysis on the stories shaping biotech.
Pfizer just recalled 11 lots of the only drug approved to treat syphilis in pregnant women, and the supply was already in a three-year shortage. With congenital syphilis cases up 700% since 2015, the timing could not be worse.
Eikon Therapeutics raised $381 million in one of 2026's biggest biotech IPOs, then watched its stock open below the offer price. With over $1.1 billion spent and no approved drugs yet, the company's molecular microscopy platform faces its biggest audience: Wall Street skeptics.
Enveda Biosciences just dropped Phase 1 data on a pill that mimics what your body produces after a hard workout. It's not trying to replace Ozempic; it's trying to solve the massive problem of what happens when you stop taking it.
AstraZeneca's Tagrisso just got a powerful sidekick. The Phase III SAFFRON trial showed that adding Hutchmed's Orpathys extended survival in lung cancer patients whose tumors outsmarted first-line treatment, and the implications stretch far beyond one clinical readout.
David Baker's GenBio AI just unveiled a virtual cell that claims to simulate human biology from DNA to whole-cell behavior in one AI system. It's the boldest bet yet in computational biology, and the early results are turning heads.
CSL posted a $2.6 billion net loss and its stock soared 18%, the best single-day move in 25 years. Behind the apparent contradiction lies a "reset year" ending, a massive buyback, and a plasma market where demand keeps outrunning supply.
Argenx is paying $2.2 billion in cash for Forte Biosciences, a clinical-stage company most investors have barely heard of. The deal reveals how the VYVGART maker plans to break free from its one-mechanism identity and compete in immunology's escalating M&A arms race.
Eli Lilly is paying up to $2.4 billion for Orna Therapeutics and its circular RNA platform, betting it can reprogram immune cells inside the body. It's the pharma giant's boldest bet yet on a technology that hasn't been proven in humans.
Moderna and Merck just reported the first-ever positive Phase 3 results for a personalized cancer vaccine, one that's built from scratch using each patient's own tumor DNA. It could reshape how we treat cancer after surgery, and Wall Street is calling it a make-or-break moment.
The FDA just approved an engineered herpes virus to treat melanoma that resists standard immunotherapy. It's a milestone for oncolytic virus therapy and a lifeline for patients running out of options.
A three-year-old AI startup from Chicago just licensed a Chinese cancer drug in a deal worth over $2 billion. The bet: a first-in-class bispecific ADC that attacks tumors through two targets at once, aimed at one of oncology's most stubborn cancers.
Regeneron pulled the plug on its TITAN trial after a mysterious safety event forced an unfavorable risk-benefit call on its uveitis drug REGN7041. It's the company's second pipeline stumble of 2026, and it raises the stakes for a critical geographic atrophy readout later this year.
LEO Pharma is spending up to $435 million on a drug that isn't even approved yet. But dersimelagon could be the first real treatment for a brutal sun allergy, and LEO's rare-dermatology shopping spree is starting to look like a masterplan.
Amylyx was left for dead after its ALS drug imploded. Two years later, a $35 million acquisition just delivered Phase 3 data so strong it could create the first approved treatment for a post-surgical complication nobody's been able to fix.
Argenx's Vyvgart Hytrulo aced its Phase 3 trial in autoimmune myositis, but one subtype missed the statistical mark. Wall Street didn't seem to mind, sending shares up over 13%, and the real story is what this means for a rare disease with zero approved therapies.
Fulcrum Therapeutics gutted its pipeline and laid off 85% of its staff. Now a migraine startup is using it as a shortcut to Nasdaq, and eight heavyweight investors just piled $245 million into the deal.
Evaxion just killed its tumor vaccine program and went all-in on an AI-designed brain cancer candidate with zero clinical data. With $18 million in cash and a ticking clock, this is either a brilliant survival move or a very expensive Hail Mary.
Sanofi just cut 229 Blueprint Medicines employees, roughly a third of the company's pre-acquisition workforce, barely a year after closing its $9.5 billion deal. The layoffs fit a growing pattern of faster, more aggressive post-deal integration across pharma, and they raise a pointed question: can big pharma absorb precision medicine companies without gutting what made them valuable?
MoonLake's sonelokimab nailed every endpoint in a pivotal psoriatic arthritis trial. The stock dropped anyway. A look at the results, the trust deficit, and why Wall Street isn't buying what MoonLake is selling.
The FDA just approved a microscopic radioactive implant for bile duct cancer, one of oncology's most neglected diseases. OncoSil's approval marks the first Class III device cleared for this indication, and it signals a growing trend of device-oncology hybrids tackling cancers that pharma left behind.
EyePoint's DURAVYU promised to cut eye injections from monthly to twice a year. Its first pivotal trial delivered stunning durability data but missed the primary endpoint, leaving investors with a Rorschach test instead of a clear answer.
Biotech startups raised over $9.1 billion in H1 2026, the best first half in four years. But cancer and autoimmune companies hoarded more than 40% of the money, and early-stage startups are getting squeezed like never before. The rebound is real; so is the growing divide.
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