Public Company Edition: Syndax grossed $230m in a follow-on public offering based on positive results for its menin inhibitor in leukemia, but the FOPO was an outlier relative to other companies, which relied on private placements, debt and other options to raise cash in a tough market.

The French firm’s antidiabetic drug has enjoyed some traction in the Japanese market following the end of launch year restrictions, raising hopes that other Asian partnerships could help improve its financial position.

A version of the diabetes drug intended to reduce PPAR gamma activation shows hoped for benefits and safety in a Phase II study. Poxel will now choose to advance one of two mid-stage NASH candidates.

Poxel’s shift to new therapeutic areas may be necessary despite Japan’s approval for its diabetes drug. Twymeeg looks set to be hamstrung by placebo-controlled studies without outcomes data.