Public Company Edition: SVB Leerink predicts a rebound from an ongoing trough in biotech stock valuations during the second quarter of 2022. Also, Vaxxinity launched the third US IPO of November, bringing the year’s total to 102 and BridgeBio led recent financings with a $750m debt agreement. 

A new global clinical trial initiative is assessing a number of second-generation candidate vaccines for COVID-19. The Australian medicines regulator has given the go-ahead for an approval application for one of the vaccines, from Taiwan’s Medigen.

Strides’ CEO tells Scrip Merck’s molnupiravir and Pfizer’s Paxlovid are not seen impacting COVID-19 vaccine uptake as boosters and immunization for travel will drive continued demand. The Indian company expects to book Sputnik Light sales from Q4. Meanwhile, US revenue guidance of $225-250m has been pushed back by a year to FY23.

Dr Reddy’s indicates it is close to break-even between “the investment made and what we gained” for Russian COVID-19 vaccine Sputnik V in India, with Sputnik Light, boosters and pediatric shots seen as the new growth drivers. The company’s fully vertically integrated operations also puts it in prime position for supplies of antiviral molnupiravir.