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Latest From Visterra Inc.
Biopharma stock prices overall are trending down again, but standout firms are raising cash, including the first company to price an IPO over $100m since May, Third Harmonic. Also, Sarepta and Alnylam launched large note offerings, totaling $1bn and $900m, respectively.
The new data bolster the company’s hypothesis that more specific targeting of FGFR2 can overcome the toxicity limitations of other FGFR inhibitors.
The European cancer congress returns in-person, with companies big and small presenting new agents and combinations across tumor types.
Deal Snapshot: The licensing deal worth up to $905m is on top of the companies’ existing partnership to develop BBP-398 together with BMS’s PD-1 inhibitor Opdivo and shows growing pharma interest in SHP2.