Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.

Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.

Skyrizi showed better skin-clearance results than Cosentyx or Taltz in a 52-week study of patients who had suboptimal results on the latter two drugs.

The jury said the infringement, which involved patents on two-channel sequencing chemistry technology, had been “willful” and turned down Illumina’s counterclaims.