The largest-ever new stock sale for a venture-backed biotech company extends a streak of large IPOs in 2026 that has now resulted in 12 drug startups securing more than $4.1 billion combined. The successful offering reflects continued investor appetite for biotech assets despite broader market challenges.

The developer of a leading PD-1/VEGF cancer drug cited market conditions for the cancellation. Its shares have struggled to break out following data milestones, highlighting the disconnect between clinical progress and market reception.

The startup is developing a medicine that works differently than available treatments for thyroid eye disease and could benefit people with a related condition, too. The financing supports development of therapies targeting TSHR for Graves disease and related conditions.

The data showed that del-brax, an antisense oligonucleotide conjugate being tested against a muscle-wasting disease, met its primary endpoint in a Phase 1/2 study. The positive results validate Novartis's significant investment in the Avidity acquisition.

The results support Takeda's long-held belief in zasocitinib's superiority and could help it gain a commercial advantage over Bristol's therapy. The head-to-head trial data provides critical differentiation in the competitive psoriasis market.

New data suggest Imaavy could be an effective treatment for autoimmune anemia. Elsewhere, Enliven detailed data for a Merck leukemia rival and MBX hyperparathyroidism drug hit its goal.

The failure adds to a series of mixed or negative readouts and leaves in doubt the future of a therapy Sanofi has viewed as a potential blockbuster. The rilipubart CIDP trial discontinuation represents a significant blow to the company's immunology pipeline.

A strategic review determined that the development environment had notably changed, leading Sensorion to end work on its gene therapy for OTOF-related hearing loss. The company is redirecting resources to alternative hearing loss programs in response to competitive pressures.

In a wide-ranging interview, Abe Ceesay detailed how Rapport built an investor syndicate and why the company is confident it can join the ranks of successful, commercial-stage brain drugmakers. The company is positioning itself for independent commercialization in the competitive neuroscience market.

Newly published data convinced AstraZeneca to conduct a sprawling late-stage program for its GLP-1 pill. Elsewhere, Bausch + Lomb will lay off 119 employees and Cartesian boosted its in vivo cell therapy capabilities.