Topline results from a 28-week Phase IIb trial show that lenabasum, a novel oral small molecule developed by Massachusetts-based Corbus Pharmaceuticals, did not reduce the rate of new pulmonary exacerbations compared with placebo in patients with cystic fibrosis (CF).

Javelin Biotech announced a three-year collaboration with Pfizer to design and build what could potentially be an industry-leading platform to evaluate ADME (absorption, distribution, metabolism and excretion) properties of small molecules.

Hexagon Bio, a California-based biotechnology company turning nature’s DNA into medicines for cancers and infectious diseases with unmet needs, will move into clinical research with $47 million in Series A financing.  

Seattle Genetics’ shares rocketed after news broke of Merck making a major investment into the Bothwell, Washington-based company via two strategic oncology deals.

Norwood, Massachusetts-based Corbus Pharmaceuticals’ shares plunged 77% at news the company’s lenabasum failed to hit the primary endpoint in the Phase III RESOLVE-1 trial of diffuse cutaneous systemic sclerosis (SSc).

Biogen inked a binding deal to co-develop and co-commercialize Denali Therapeutics’ small molecule inhibitors of leucine-rich repeat kinase 2 (LRRK2) for Parkinson’s disease.

ARC Therapeutics launched with a $6 million financing led by founding investor Eshelman Ventures LLC.

Alexion Pharmaceuticals shuttered the company’s oral small molecule Factor D inhibitor program for a rare kidney disease following disappointing clinical data.

MetVital’s lead drug candidate “Anhydrous Enol-Oxaloacetate” (AEO) received Fast Track Designation from the U.S. Food and Drug Administration for the treatment of patients with newly diagnosed glioblastoma multiforme.

Denali Therapeutics and development partner Sanofi announced data from the Phase Ib trial of DNL747 in Alzheimer’s disease and amyotrophic lateral sclerosis (ALS). After apparent disappointing results, the companies have chosen to pause the studies with the drug and shift their resources to a similar drug, DNL788, for the same indications.