ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on. 

The latest drug development news and highlights from the Pink Sheet’s US FDA Performance Tracker

The US firm has started a rolling US BLA for its infectious disease candidate, SER-109, following positive data from a second late-stage study, a milestone which could draw attention to firms in the microbiome space. 

Once deemed an intimidating and risky space, microbiome modulator firms are slowly winning over investors as robust clinical data surface, with one company, Microbiotica, recently hitting an EU financing record.