Public Company Edition: Summit initiated the big rights offering earlier this year as promised in December when it licensed Akeso’s PD-1/VEGF bispecific. Also, Teva sold $2.49bn in sustainability-linked notes to pay down debt, while MorphoSys, Novavax and others restructured and cut jobs.

French-founded biotech Smart Immune has made significant headway in stimulating the thymus, a small gland with a huge immunological impact which rarely finds itself as a key clinical target. The company is now investigating the impact that two of its ProTcell products in patients with severe combined immunodeficiency and leukemia could have.

From synthetic data to real-world data, from patient engagement to patient stratification, from combination trials to master protocols and from fully decentralized through hybrid to onsite trials, the world of clinical development is undergoing major changes. Fifty executives share their predictions around clinical trial trends for the year ahead.

United Health Group and CVS strongly object to CMS’s proposed approach to selecting Part D drugs for price negotiation. United Health suggests the agency's method of announcing it will use gross, instead of net, costs could constitute a violation of the Administrative Procedure Act.