• STAT+: ‘Really scared and frightened': VC deals and valuations begin falling apart as biotech's stock shock becomes one of the longest in history

    1 month ago - By STAT

    The drug industry is experiencing one of the longest market downturns it has ever seen, and the effects are now reverberating down to privately held startups, leading to fear and fraught conversations between executives and VCs.
    The anxiety is translating into real-world consequences, investors told STAT. Private companies that had been hoping to launch an IPO in a year or two are getting more desperate for financing. Some companies are being told to raise funding at their previous valuation or a lower one - called a flat or down round - in a phenomenon that was virtually unheard of in...
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  • STAT+: The biotech scorecard for the third quarter: 18 stock-moving events to watch

    1 month ago - By STAT

    Here is STAT's biotech scorecard, our regular ledger of stock-moving biotech events, for the third quarter:
    The readout of Alnylam Pharmaceuticals' APOLLO-B Phase 3 study is one of the biggest clinical trial catalysts of the year. The study is attempting to expand the use of Alnylam's approved RNA-interference medicine Onpattro to encompass a significantly larger group of patients with transthyretin amyloidosis cardiomyopathy, or ATTR-CM, a progressive heart disease caused by the buildup of a toxic protein. APOLLO-B is also high risk, given the uncertainties raised last year when a similar...
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