box, layoffs

As the economy ebbs and flows, pharma and biotech companies alike are feeling the pressure to cut costs. From rapid inflation to the ever-changing regulatory landscape, many are looking for ways to reduce their burn rate.

TauRx announced preliminary results Thursday from the Phase III LUCIDITY study, showing hydromethylthionine mesylate (HMTM), an inhibitor of tau aggregates, could slow Alzheimer’s disease progression or cognitive decline.

Sanofi

Provention Bio entered a co-promotion agreement with Sanofi Thursday ahead of the possible November approval of Type 1 diabetes drug teplizumab.

Johnson & Johnson, baby powder

A U.S. bankruptcy judge has blocked New Mexico and Mississippi from pursuing lawsuits accusing Johnson & Johnson of misleading consumers about the safety of its talc products, such as its baby powder, for now.

Amylyx is dipping back into the well to raise funds to launch its recently approved ALS drug Relyvrio. The company plans to offer 6 million shares in a public offering to bring in between $167 to $192.2 million.

exit sign

Cancer immunotherapy biotech OncoSec Medical Inc. will lay off around 45% of its workforce to focus its resources on the development of its lead asset, TAVO-EP (tavokinogene telseplasmid), the company announced Tuesday.

Biohaven Pharmaceuticals has set a new course following its acquisition by Pfizer with a focus on developing therapeutics that modulate the Kv7 ion channel for the treatment of neurological and neuropsychiatric diseases.

Farxiga

The world’s largest dialysis company is seeking out kidney disease patients long before they need the most acute form of care as it plans for growth of new drugs that attack the condition’s causes early on.

Bristol Myers Squibb entered two separate research collaboration and licensing deals, one with San Francisco-based SyntheX and the second with London’s Autolus Therapeutics.

Grifols

Grifols appointed an executive chairman on Monday, as the Spanish pharmaceutical company strives to recover from a pandemic-related hit and a 49% drop in its shares so far this year.