Earnings
Recludix launches with a mission to develop Three SH2 domain inhibitor programs targeting STAT3, STAT6, and an undisclosed non-STAT target for cancer and inflammatory disease targets.
The total revenue for the quarter was $9.74 billion, a leap of 47%. The COVID-19 vaccine, Vaxzevria, only contributed 1% to the company’s profit.
Organon is paying $75 million upfront, taking on about $9 million of Forendo debt, and up to $270 million in various development and regulatory milestones.
Shares of Xencor, Inc. are down nearly 6% after the company announced Novartis terminated its rights to develop vibecotamab, a CD123 x CD3 blood cancer bispecific.
Autolus is currently working on advancing obecabtagene autoleucel, its CD19 CAR T cell investigational therapy product candidate, in addition to other applications of obe-cel in B-cell malignancies.
Moderna reported its third-quarter earnings, and since it currently only has one commercial product, its COVID-19 vaccine, that was the financial focus.
The proceeds will be used to advance the development of their ePLC platform, treatment for chronic Hepatitis B, and a novel class of anti-cancer therapies.
Amgen anticipates Lumakras (Amgen lung cancer drug) to become a cornerstone medicine as the company aims to develop multiple medications for the targets.
Clade Therapeutics will use its funds to further its research and development on cancer treatments, while GRO Biosciences will focus on chronic diseases.
Under the agreement, Merck can use Synthekine’s surrogate cytokine agonist platform to discover, develop, and sell new cytokine-based treatments for up to two cytokine targets.
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