The UK’s PureTech and US biotech Nektar have ended discussions about a potential merger which analysts did not see coming, but a deal could still happen and other companies may also make a move.

Results of the LIGHT UP study, which included prediabetic and diabetic subjects, could support FDA approval of GS200.

The US biotech saw a net loss last year despite increased sales and has decided to focus more on its wholly owned pipeline, which includes a safer formulation of a Roche pulmonary fibrosis product.

Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma.