For 5 long years the IPO window on Wall Street has largely been closed to biotech companies. But with investors warming up to the potential rewards after a lengthy chill, Portola Pharmaceuticals became the latest biotech to pull off a successful maiden offering. The biotech raised $122 million from the sale of 8.4 million shares, sticking to the middle of its range after pricing shares at $14.50.
Seaside Therapeutics has revealed its second failed study for its lead drug STX209 this month. In one of two Phase III studies for the compound for the genetic mental disorder Fragile X syndrome, STX209 treatment missed its main goal of reducing social withdrawal.
Johnson & Johnson built its R&D rep around blockbuster development deals. Now the pharma giant's drug development arm wants the world to know that there's a comprehensive, global pipeline strategy in play that will deliver more than 10 new product applications over the next 4 years. And new drug development efforts in China and Japan are growing to rival the work it does in the U.S. and Europe.
A panel of experts assembled by the FDA has given Merck a boost in its quest for an approval of the sleep drug suvorexant.
The European Medicines Agency will provide an accelerated review of the treatment combined with ribavirin, which is shaping up as the first all-oral hepatitis C regimen up for a regulatory decision.
With one likely blockbuster on the market in Eylea and at least three others in development, Regeneron Chief Scientific Officer Dr. George Yancopoulos has plenty to keep him busy for the next several years. Read the full feature >>
Bayer has a new set of upbeat results from its long-term extension study of riociguat, a major new player in a busy field of competitors angling for a share of the market for pulmonary arterial hypertension.
The agency has given the coveted status to the Lexington, MA-based biotech company's experimental treatment for use against early onset lysosomal acid lipase deficiency, an inherited disorder that typically kills infants within the first 6 month of life, according to the company.
FDA staffers found clear evidence to prove that Merck's blockbuster drug candidate suvorexant is quite effective in promoting sleep, but the internal review cites multiple safety issues for the high doses studied in clinical trials.
Two more biotech outfits emerged this week as contenders to complete initial public offerings, highlighting the open season for the deals this year. Bluebird bio and PTC Therapeutics has mounted campaigns to go public with pipelines that target the molecular causes of rare genetic diseases.