Top Biotech News (27 Dec 2024)

Novo’s next-gen obesity drug misses expectations in closely watched trial

Summary: A combination drug called cagrisema helped spur significant weight loss, but missed the bar set by executives, causing shares to fall sharply.

Merck calls quits on two immunotherapies for cancer

Summary: The company is scrapping two drugs aimed at targets called TIGIT and LAG-3, both of which were in the middle of Phase 3 testing.

Vertex Wins FDA Approval for New Cystic Fibrosis Option but Stock Still Down

Summary: Vertex develops Alyftrek as an enhanced version of their successful cystic fibrosis drug Trikafta.

FDA says the Zepbound shortage is over. Here’s what that means for compounding pharmacies, patients who used off-brand versions

Summary: The Food and Drug Administration announced that branded tirzepatide, the active ingredient in Eli Lilly’s weight loss drug Zepbound, is no longer in short supply.

Ikena, after tough year of layoffs, merges with Inmagene to focus on phase 2 dermatitis prospect

Summary: Ikena stockholders will own 34.8% of the combined company, with Inmagene equity holders accounting for 43.5% and investors in a related private placement owning the remaining 21.7%