Biotech Hangout

Επεισόδια

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  Episode 198 - October 2, 2026 02.10.2026 1ώ

  On this week's episode, Graig Suvannavejh, Sam Fazeli, Eric Schmidt, and Brian Skorney open with a look at the public markets, noting the XBI is up 27% year-to-date but down about 9% since its August high. The co-hosts then touched on Oura's pulled IPO, seeing little read-through for the broader biotech space. In deals, Sanofi and Regeneron extended their antibody collaboration for $1 billion upfront and up to $7 billion in milestones, while AstraZeneca and Daiichi Sankyo struck deals with Summit Therapeutics worth $2 billion in equity and pipeline access ahead of its high-stakes HARMONi-3 readout. Several additional licensing deals with Chinese biotechs were also announced. On approvals, the FDA cleared Mirum's FOP drug and AbbVie's novel D1/D5 Parkinson's therapy Juvmo (tavapadon). In data news, Dyne shared Phase 1/2 DM1 results, Kodiak's wet AMD combination hit its primary endpoint, Immix Biopharma reported positive interim AL amyloidosis data, and uniQure's Huntington's gene therapy data was also highlighted, prompting a broader group discussion on the challenges facing gene therapy. The episode closed with recaps of World Conference on Lung Cancer (WCLC) and European Association for the Study of Diabetes (EASD) touching on lung cancer bispecifics and strong new obesity data from Lilly. This episode aired on October 2, 2026.
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  Episode 197 - September 25, 2026 25.09.2026 58λ

  On this week's episode, Sam Fazeli, Yaron Werber, Brian Skorney, and Matt Gline open with the IPO market, noting record average raise sizes even as XBI softens. The group turns to policy, unpacking newly FOIA-disclosed details of Pfizer's MFN agreement, including a revenue-share provision tied to price increases abroad. The co-hosts call the equalization concept constructive but warn cash-strapped European governments may ration access rather than pay more. They also discuss FDA commissioner nominee Heidi Overton's confirmation hearing, where innovation-forward opening remarks were read as a positive signal despite lingering questions about her MAHA alignment. In data news, Compass Therapeutics pushed ahead with bispecific tovecimig despite FDA’s request for an overall-survival trial, while Vertex's inaxaplin data broadened the case for efficacy beyond FSGS kidney patients. Amgen's dazodalibep for Sjögren's hit its primary endpoint in a Phase 3 trial, and Viking's VK2735 posted strong Phase 1 maintenance-dosing data in obesity. Celdex's barzolvolimab cleared both primary and secondary endpoints in urticaria, and Alkermes' ALKS 7290 succeeded in ADHD, adding to orexin-agonist momentum. The episode closed with Moderna's melanoma vaccine data tapped for ESMO's top plenary slot and Lexeo's $8.3 billion acquisition of Mantle Therapeutics. *This episode aired on September 25, 2026.
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  Episode 196 - September 18, 2026 25.09.2026 55λ

  On this week's episode, Josh Schimmer, Eric Schmidt, Paul Matteis, and guest Adam Feuerstein open with the OpenAI/Hugging Face AI agent controversy, debating whether calls for AI regulation reflect genuine safety concern or capital rotating out of biotech into AI. Turning to markets, the group describes a choppy September for biotech, driven more by rate jitters and a quiet M&A backdrop than any real shift in FDA or drug-pricing sentiment. In data news, Xenon Pharmaceuticals voluntarily paused enrollment in its Phase 3 depression trial after adverse events, sending shares down as investors worry about the company’s epilepsy franchise. The hosts then cover North Immunology's reverse merger, framing the ongoing wave of reverse mergers as a viable, capital-efficient alternative to IPOs. The conversation turns to Sionna Therapeutics failed cystic fibrosis study, leading to a broader discussion of Vertex's durable moat in CF—its proprietary cell-based assay, willingness to cannibalize its own pipeline, and multimodal drug combinations. The episode closed on rare disease, citing recent approvals as signs of a resurgence, along with the measles outbreak and RFK Jr.'s renewed ties to anti-vaccine groups. *This episode aired on September 18, 2026.
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  Episode 195 - September 11, 2026 15.09.2026 1ώ

  On this week's episode, Tess Cameron, Brian Skorney, Paul Matteis, and Yaron Werber open with a look at markets, noting the XBI slipped just over 3% amid concerns about energy prices, inflation, and long-term U.S. fiscal health weighing on the rate-sensitive sector. The conversation then turns to policy, discussing new FDA leadership appointments including Karim Mikhail as CBER director, with hosts noting the industry's hope for a calmer, less chaotic regulatory tone. They highlight the FDA's apparent openness to psychedelics, pointing to stock reactions across the space. On the data front, Novartis's pelacarsen missed expectations reducing Lp(a) relative to rival programs from Amgen and Eli Lilly, while its DM1 program also fell short, shifting attention to Dyne Therapeutics' upcoming expansion cohort data. The hosts debate whether Novartis's setbacks make early-commercial, post-Phase 3 companies more attractive acquisition targets given looming loss-of-exclusivity pressure across large pharma. In other data news, Roivant's mosliciguat hit its Phase 2 primary endpoints in interstitial lung disease, with the company already advancing to Phase 3. The episode closes with Biohaven's epilepsy trial hold pending further metabolite data, and questions over whether the hold could affect its recent SK Pharma deal. This episode aired on September 11, 2026.
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  Episode 194 - August 28, 2026 28.08.2026 1ώ 1λ

  On this week's episode, Daphne Zohar, Eric Schmidt, Sam Fazeli, and Graig Suvannavejh open with a strong week for biotech, partially driven by M&A, noting it's already past 2025's full-year total. The group turns to Moderna, whose melanoma cancer vaccine data sent shares up nearly 200% and stirred some mixed feelings from investors. Contrastly, BioNTech's decision to halt its colorectal cancer vaccine trial was also noted. In data news, Revolution Medicines' FDA approval of daraxonrasib (RASONQUE) for pancreatic cancer drew attention for its potential first-line use and implications for trials behind it, while Akeso/Summit's ivonescimab was approved in China for NSCLC and also reported positive Phase 3 data in biliary tract cancer, reinforcing the case for VEGF/PD-1 bispecifics. Also in data news, AstraZeneca's full dataset of eplontersen for ATTR-CM raised doubts about the class of RNA-targeted silencers over currently marketed drugs that “silence” TTR proteins, while EyePoint's Phase 3 miss in wet AMD sent shares down about 70%. The conversation shifts to policy, where the group discusses pros and cons of FDA commissioner nominee Heidi Overton, the HHS plans for two new deputy roles, alongside concerns over declining U.S. IND filings versus China's rising trial volume. The episode concludes with Amylyx raising over $500 million on strong avexitide data in post-bariatric hypoglycemia, and J&J's Imaavy earning a second indication, expanding the anti-FcRn class. *This episode aired on August 28, 2026.
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  Episode 193 - August 14, 2026 14.08.2026 59λ

  On this week's episode, Chris Garabedian, Graig Suvannavejh, Paul Matteis, and Tess Cameron open with the biotech market. They describe 2026 as strong but discerning, with 19 Nasdaq IPOs this year and generalist investors still not fully back. The co-hosts also cover recent launches and raises, including Boulevard Bio's launch with Deerfield backing and Epicrispr's $90 million Series C raise for FSHD. In data news, Tenax's HFpEF candidate missed its primary and secondary endpoints, while Sionno's cystic fibrosis drug missed its biomarker target, sending shares down 90%. On the dealmaking front, Jazz acquired epilepsy biotech Actio for $820 million upfront to deepen its rare epilepsy pipeline, and Revolution Medicines struck a RAS-inhibitor partnership covering China development alongside a PRMT5 clinical collaboration. Elsewhere, AbCellera raised $200 million on positive Phase 2 vasomotor data, and Silence Therapeutics raised $175 million on positive polycythemia vera data, while Definium posted positive Phase 3 data for its psychedelic GAD candidate, and Cullinan/Taiho did the same for their lung cancer drug zipalertinib. In regulatory news, Neurocrine's Prader-Willi drug faced new safety scrutiny after reports of seven deaths, and Amgen's Tavneos was pulled by the EMA over misleading trial data. Belite Bio's tinlarebant earned FDA priority review for Stargardt disease, while rival Tarsus acquired Alkeus for about $800 million. The episode closed with a debate on expanding the COINS Act into biosecurity. This episode aired on August 14, 2026.
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  Episode 192 - August 7, 2026 07.08.2026 1ώ 3λ

  On this week’s episode, Sam Fazeli, Brian Skorney, Yaron Werber, and Strand Therapeutics CEO Jake Becraft open with the wave of dealmaking and a solid Q2 earnings season, then turn to the reports of the potential AstraZeneca/Bristol Myers merger, which the group called “more smoke than fire.” Next, as the trend of reverse mergers continues, the co-hosts note they’re increasingly well-received as a faster path to going public. Meanwhile, the IPO window has remained open and strong. The conversation moved to the ongoing China biotech debate, discussing the challenges and opportunities facing US biotech. In regulatory news, the FDA granted breakthrough therapy and orphan drug designations for Mirum’s volixibat, while Replimune received approval for Tudriqev (RP1) in melanoma after its third submission. The group also compared Moderna and BioNTech heading into a data-heavy second, noting BioNTech’s CEO change, and covered Ascendis’s strong launch against BioMarin in achondroplasia, now complicated by ITC patent litigation. The episode closed on a high note with Otsuka’s atrasentan, showing unprecedented two-year eGFR stabilization in IgA nephropathy. *This episode aired on August 7, 2026.
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  Episode 191 - July 31, 2026 03.08.2026 1ώ

  On this week's episode, Graig Suvannavejh, Tim Opler, Yaron Werber, Paul Matteis, and Brian Skorney kicked off with a review of the market, noting pressure in the XBI despite a longer-term bounce-back from trough levels, though they see biotech fundamentals as largely intact. The group also discussed the trend of reverse mergers as an alternative to traditional IPOs, along with AI's expansion and uncertain role in accelerating drug discovery. In regulatory news, the co-hosts welcomed the return of FDA advisory committee meetings, including those for Capricor and Replimune, and highlighted Anthony Fauci's recent Senate testimony on the handling of the COVID-19 pandemic. In deals, J&J struck an in vivo CAR-T partnership with Sail Biomedicines, with potential readthroughs for Legend Biotech, and Argenx is set to acquire Forte Biosciences to bolster its immunology pipeline. The group also highlighted Lilly's recent acquisition of psychedelics company AtaiBeckley, opening a broader discussion on deals in the psychedelics space. The episode concluded with company news including Alnylam shares dropping 30% following disappointing updated guidance, Novo Nordisk’s Phase 3 study for its anti-IL-6 ligand antibody, and MapLight’s Phase 2 schizophrenia readout. *This episode aired on July 31, 2026.
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  Episode 190 - July 24, 2026 24.07.2026 58λ

  On this week's episode, Josh Schimmer, Brian Skorney, Eric Schmidt, and Brad Loncar kick off with IPOs and raises, including Scribe's IPO, the first preclinical biotech IPO since the COVID era, which priced in a modest but upsized deal. The group also covers Mentari's additional $200 million raise ahead of its reverse merger with InMed, leading the co-hosts to question if reverse mergers are a positive for biotech or a worrisome trend. Next, the group turns to Colossal Biosciences' talks to raise at a $20–30 billion valuation, prompting a broader question of what counts as biotech and where the industry's roots lie. The conversation turns to a recap of BiotechTV's inaugural U.S. Science Summit, where a central theme was the need to better explain biotech's work to the general public. The co-hosts then cover the fallout at Immix, whose CMO (hired in March 2025) turned out to be a fugitive on the run; the company disclosed the news in an 8-K, as they believed it not to be a material event. In data news, Dyne's Z-rostudirsen received FDA acceptance and priority review for DMD. The episode concludes with a discussion on policy, debating whether upcoming FDA adcomms for Replimune and Capricor signal a shift under new leadership. *This episode aired on July 24, 2026.
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  Episode 189 - July 17, 2026 17.07.2026 58λ

  On today’s episode, Yaron Werber, John Maraganore, Sam Fazeli, and Matt Gline open with a discussion of biotech market volatility, with Matt noting that it often seems driven more by opaque factor dynamics than company-specific fundamentals. The group then turns to Eli Lilly’s continued “Amazonification” and reinventing the pharma business as it acquires a variety of different companies, including this week’s $2.8B upfront acquisition of Atai Beckley, a psychedelic-focused company. The conversation turns to BioCentury’s reporting on Asia-to-West NewCos, prompting a debate about whether China is uniquely changing the market or simply reflects broader shifts in cheaper, faster development. On policy, the group covers BIO’s response to the OMB proposal that could inject political review into federal grant decisions. The co-hosts also debate Kalshi’s move to create prediction markets around clinical trial and regulatory outcomes. On pipeline updates, the group discusses Merck’s approval of Lipfendra, the first oral PCSK9 drug, and the broader class implications. In CNS, Biogen and Ionis’ diranersen tau ASO data spark a discussion of aconfusing dose response, ASO tolerability, tau as a target in Alzheimer’s disease, and the promise of alternative modalities from Arrowhead and Alnylam. The episode closes with M&A and financing, including AstraZeneca’s licensing deal with Dizal for the EGFR exon 20 inhibitor sunvozertinib andErasca’s RAF data plus its $500M financing, which Sam views as a strong market signal despite a volatile biotech backdrop. This episode aired on July 17, 2026.
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  Episode 188 - July 10, 2026 10.07.2026 1ώ

  On this week's episode, Sam Fazeli, Josh Schimmer, Eric Schmidt, Paul Matteis, and special guest STAT's Matt Herper open on the market, noting that despite a wobbly day for biotech, the XBI holds strong gains year-to-date. The conversation turns to FDA transparency, where the co-hosts flag that CRLs haven't been released since April and that the agency may be walking back that practice. The co-hosts debate whether the FDA is swinging too far toward leniency after Agios' mitapivat won priority review in sickle cell disease despite missing its primary endpoint last year. On AI in drug discovery, Matt Herper recaps an interview with Anthropic's CEO about a new research tool, noting that it's plausible the tool helps industry pick better targets and lower the failure rate. In M&A, Vertex's largest-ever deal takes Crinetics for $10 billion net of cash, staking a claim in the specialty rare endocrine space, while Novartis expands its ADC portfolio with Myricx for $1.1 billion upfront plus $400 million in milestones — the second European ADC deal in recent months. On data, AstraZeneca and Ionis' eplontersen trial in ATTR-CM missed its endpoint, showing no benefit or biomarker signal on top of background tafamidis; the group then discusses the readthroughs for BridgeBio, Alnylam, and Pfizer's ATTR therapies. This episode aired on July 10, 2026.
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  Episode 187 - June 26, 2026 26.06.2026 1ώ

  On this week’s episode, Josh Schimmer, Eric Schmidt, Tess Cameron, and Sam Fazeli open by noting the XBI’s continued rise, debating whether biotech is getting ahead of itself. The co-hosts call this a “new era” in which biotech can be profitable rather than sold off to pharma. The conversation shifts to deals, with AbbVie’s $10.9 billion acquisition of Apogee, which raised questions about China-sourced drugs given their volume, pace of innovation, and cheaper price. The group also covers Boundless Bio and Serapha’s merger, alongside a $230M private raise. Ollin Bio -- whose pipeline is built entirely on Chinese assets -- raised $330M Series B to advance Phase 3 trials of a bispecific antibody for diabetic macular edema and wet AMD, which led to a debate on the COINS Act and the distinction between physical and innovation supply chains. The group then overviews potential FDA Commissioner candidates, with BIO CEO John Crowley and physician Heidi Overton as front-runners alongside acting leader Kyle Diamantas. In company news, CVS Caremark deferred adding $SPRY’s epinephrine nasal spray Neffy to its formulary, pushing the review to January 2027. The episode concludes with data updates from Moonlake in HS, Merck’s ulcerative colitis drug, Definium’s Phase 3 LSD data in MDD, and Absci’s Lilly-backed prolactin antibody raise. *This episode aired on June 26, 2026.
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  Episode 186 - June 12, 2026 12.06.2026 1ώ 1λ

  On this week’s episode, Graig Suvannavejh, Eric Schmidt, Paul Matteis and Financial Times’ Oliver Barnes kicked off with the biotech market, with the XBI in positive territory and 12 biotech IPOs completed so far this year. They expected the IPO window to remain open for high-quality private companies. The group also overviewed recent financings, including SonoThera’s $125 million Series B, City Therapeutics’ $100 million Series B, Ethyreal’s $101 million Series A, and Summit’s decision to cancel a $500 million secondary offering. In data news, the co-hosts covered Tango’s combination data with Revolution Medicines’ RAS inhibitor. They also discussed Incyte’s acquisition of Vega Therapeutics as a pipeline-building move ahead of Jakafi’s 2028 patent expiration and J&J’s acquisition of Firefly, with the RAS inhibitor space expected to remain hot. The group also discussed GSK’s acquisition of Nuvalent -- its largest deal to date -- for two late-stage lung cancer assets. Oliver added perspective on biotech deal leaks, following the Incyte/Vega deal and GSK/Nuvalent deals this week. In partnership updates, Novartis expanded its molecular glue work with Orionis, Lilly licensed an Alzheimer’s candidate from AlzeCure, and Corvus supported China partner Angel Pharmaceuticals. The episode concluded with the latest in rare disease and gene therapy, covering Novartis’ FSHD program, FDA flexibility, Rett syndrome programs, and Sensorion’s exit from hearing loss development. *This episode aired on June 12, 2026. 
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  Episode 185 -June 5, 2026 09.06.2026 1ώ

  On this week’s episode, Yaron Werber, Tess Cameron, SamFazeli, and Brian Skorney kick off with a look at markets, noting that while AI remains hot, biotech may be cooling amid anticipated tech IPOs. The co-hosts note that biotech saw a significant recovery over the past year driven by M&A and improving sentiment, highlighting that the XBI has remained remarkably stable. The discussion then turns to policy, where momentum to expand the COINS Act into biotech raises concerns. The group highlights the need to distinguish between manufacturing supply chains, where national security risks are real, and innovation ecosystems, where restricting capital flows could slow drug development and shift advantage outside of the US. Recapping the highlights from ASCO 2026, Akeso/Summit’s ivonescimab showed meaningful survival benefits, while Revolution Medicines’ KRAS program in pancreatic cancer stood out as a breakthrough, receiving a standing ovation at the conference. In breast cancer, the focus was centered on emerging CDK4 selective inhibitors from Pfizer and others. Grail’s multi-cancer early detection readout was also discussed, along with in vivo CAR-T data from Kelonia that showed strong early responses but raised durability questions. *This episode aired on June 5, 2026.
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  Episode 184 - May 29, 2026 29.05.2026 58λ

  On this week’s episode, Chris Garabedian, Brian Skorney, Graig Suvannavejh, and special guest Ginkgo Bioworks CEO, Jason Kelly, kick off with a market update, highlighting a continued positive sentiment, citing Endpoints’ recent Biopharma Sentiment Index survey results, which showed improvements in biopharma conditions. The co-hosts also note the continued IPO activity, including Kardigan’s recent filing. The conversation shifts to China, with Jason suggesting that genetic engineering is a strategic technology extending beyond therapeutics, warning that the U.S. is offshoring critical innovation to China. This sparks a debate with others noting that global collaboration is embedded in drug development and questioning whether restricting partnerships would ultimately harm U.S. competitiveness. In deals, the group highlights Lilly’s acquisition of three vaccine companies for up to $3.8 billion and Apogee’s $1.3 billion strategic collaboration with Blackstone to advance their eczema drug. The conversation shifts to data, with GSK’s Phase 3 data for chronic hepatitis B drug, and an overview of datasets at ASCO 2026, including Revolution Medicines Phase 3 trial results for pancreatic cancer, which are expected to be the headline of the conference. The episode concludes with an overview of Biohaven’s R&D Day, BMS in multiple myeloma, Dyne’s DMD, and updates on the FDA following the recent leadership changes. after the departure of Dr. Marty Makary. *This episode aired on May 29, 2026. 
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  Episode 183 - May 15, 2026 15.05.2026 1ώ 1λ

  On this week’s episode, Sam Fazeli, Josh Schimmer, Eric Schmidt, and Tess Cameron kickoff with deals, highlighting the up to $15.2B Hengrui–BMS partnership and the broader trend of outsourcing early-stage drug development to China. The discussion continues with the co-hosts noting China’s edge in speed, quality, and cost-efficiency, while underscoring that the strength of U.S. capital markets remains a key advantage. This week also saw a significant raise, with Isomorphic Labs announcing a $2.1B Series B. In regulatory news, the group described the departure of FDA Commissioner Dr. Marty Makary as creating fresh uncertainty around FDA leadership and direction as they speculated on his exit and who will replace him. On the data front, Regenxbio met the primary endpoint inits Phase 3 trial for Duchenne, though the hosts flagged potential investor skepticism around the side effects, limited data, and FDA uncertainty. Next, they discuss that Biogen and Ionis are advancing their Alzheimer’s tau program despite mixed results. The co-hosts also mention Inhibrx’s Phase 2 data in head and neck squamous cell carcinoma, as well as Moderna’s Hantavirus vaccine research following the recent cruise ship outbreak. The episode concludes with a look ahead to upcoming conferences, including ASCO, ADA, and ATS. *This episode aired on May 15, 2026.
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  Episode 182 - May 8, 2026 08.05.2026 1ώ

  On this week’s episode, Josh Schimmer, Paul Matteis, Eric Schmidt, Yaron Werber, and special guest STAT’s Allison DeAngelis open with what they describe as “a bananas week for biotech,” highlighting strong substantial secondary offerings, including Cytokinetics and Avalo Therapeutics. The conversation then turns to M&A, with multiple new deals announced in Q1 and continued activity this week, including UCB’s acquisition of Candid Therapeutics for up to $2.2B, Angelini’s $4.1B purchase of Catalyst Pharmaceuticals, and Bayer’s acquisition of Perfuse for up to $2.45B. The group also reflects on what feels like the year of developmental-stage biotech, highlighting investor focus on companies with pipeline events such as Vertex and Biogen, while commercial-stage companies have lagged. In regulatory news, the co-hosts discuss Sanofi’s decision to withdraw diabetes drug, teplizumab, from the Commissioner’s National Priority Review program, broader concerns about shifting goalposts and political influence, and contradicting outcomes including Replimune’s rejection versus Atara’s reversal. On the data front, the hosts discuss Cytokinetics’ Phase 3 results and subsequent $650M raise, as well as encouraging autoimmune data from Artiva Biotherapeutics. They also overview neurofilament as a biomarker following Clene’s data, and J&J’s decision to advance its DUET program despite failing to meet its primary endpoint in IBD. *This episode aired on May 8, 2026.
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  Episode 181 - May 1, 2026 08.05.2026 1ώ

  On this week’s episode, Eric Schmidt, Matt Gline, Chris Garabedian, Sam Fazeli, and Graig Suvannavejh open with a discussion on biotech public‑market dynamics, noting solid year‑to‑date performance for the XBI. Next, the group highlights the reopening of the IPO window, with multiple upsized offerings and strong aftermarket performance, supported by renewed generalist investor interest. The conversation then turns to large‑cap pharma earnings, with focus on Lilly’s continued outperformance driven by its obesity franchise and evolving commercialization strategies. Next, the co-hosts discuss robust deal flow across the sector, led by Lilly’s aggressive M&A activity. On the data front, the co-hosts cover Revolution Medicines’ practice‑changing Phase 3 pancreatic cancer data and the contrasting market reaction to competitor results, as well as key takeaways from Summit Therapeutics’ Harmony‑3 interim analysis in lung cancer. Also in data news, developments in Alzheimer’s disease, including recent trial setbacks, regulatory approvals, and encouraging early commercial traction for new therapies are also mentioned. The episode concludes with reflections on IPO cycles, valuation discipline, and cautious optimism for sustained momentum in biotech markets. *This episode aired on May 1, 2026. 
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  Episode 180 - April 17, 2026 17.04.2026 53λ

  On today’s episode, Chris Garabedian, Paul Matteis, Tess Cameron, and special guest Adam Feuerstein kick off with a discussion of the public markets, highlighting the XBI’s post‑pandemic highs, Kailera’s IPO pricing and more than $625 million raised, the opening of the IPO window with multiple filings, and increasing generalist interest in the biotech sector. The group also discusses Obsidian Therapeutics going public following a reverse merger with Galera, alongside a $350 million PIPE. The conversation shifts to the rise of clinical trial prediction markets and the growing role of AI tools in the life sciences industry. Next, the co‑hosts highlight another acquisition by Lilly, with their $300 million purchase of Crossbridge Bio. In Regulatory news, the group overview the FDA approval of Travere Therapeutics’ kidney disease drug for FSGS and the broader implications for the renal space. On the data front, the group mentions Allogene’s CAR‑T data and the mixed stock reaction, along with Revolution Medicines’ positive Phase 3 data in pancreatic cancer. Spyre’s positive Phase 2 data in ulcerative colitis is also covered. The episode concludes with a discussion on how clinical data continues to drive market dynamics. *This episode aired on April 17, 2026.
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  Episode 179 - April 10, 2026 10.04.2026 59λ

  On this week’s episode, Graig Suvannavejh, Josh Schimmer, Yaron Werber, Sam Fazeli, and special guest Financial Times journalist Oliver Barnes kick off by highlighting the strength of the biotech sector from a public markets perspective, noting the XBI has outperformed the S&P 500 so far this year. The group agrees biotech is in a solid position overall. In policy news, the co‑hosts discuss the latest on the Trump administration’s proposed 100% pharma tariffs, Most Favored Nation drug pricing, and deals between big pharma and the administration. The conversation shifts to regulatory news, including changes to the CDC’s ACIP charter, vaccine oversight concerns, and FDA Commissioner Dr. Marty Makary’s press conference highlighting progress under his leadership. The group then highlights major deals, including Merck’s $6.7 billion acquisition of Terns and details of the SEC filings, Gilead’s $3.15 billion upfront deal for Tubulis, Neurocrine’s $2.9 billion purchase of Soleno, and Garda Therapeutics’ $125 million acquisition of Assertio. In breaking news, the co-hosts discuss Replimune’s second CRL for its melanoma therapy. In data, the group highlights Ascendis’ encouraging week‑52 achondroplasia data and Insmed’s Phase 2 hidradenitis suppurativa results. The episode concludes with an update on the obesity landscape, including Lilly’s newly approved oral GLP‑1, Novo’s high‑dose Wegovy, and a Nature paper on GLP‑1 response variability. *This episode aired on April 10.