The San Francisco-based company has taken a step forward with proof of concept for its ‘switch on or switch off’ approach to gene regulation via non-cutting CRISPR molecules.

Recent financings, including the $150m launch of Pathalys and a planned $100m IPO for Mineralys, illustrate the reality of biopharma funding in 2023 – that having near-term clinical trial milestones are key to fundraising this year. Companies with dwindling cash are conserving the funds they have left.

The SHIELD I trial, for preventing surgical site infections, did not meet its primary and key secondary endpoints, but a subgroup analysis did, while COVID-19 may have muddled results.

Public Company Edition: Third Harmonic hopes to double its money, raising up to $150m. Also, Halozyme priced a $625m note sale to retire debt and repurchase shares, while Viridian raised $270m in an offering after positive early data, and Clarus cut jobs while Endo finalized a restructuring plan.