Day Three of JPM 2026 continued with a sense of both positivity and stability – both noticeably lacking in recent years. Here are a few of the highlights from the Biomedtracker team and you can catch up with all the action from Day Three in our full report which is available here.
Mega cap momentum
Just the one mega-cap update on Day Three, and AbbVie focused on its approach in the post Humira era. Loss of exclusivity for that blockbuster has been mitigated by the launch and burgeoning success of Skyrizi and Rinvoq. The company has found its financial footing with $7 billion in sales growth between 2023 and 2025, despite the entry of biosimilars and the impact of the Inflation Reduction Act (IRA).
Large cap innovation
UCB highlighted the company’s innovation-driven growth anchored in neurology and immunology. CEO, Jean-Christophe Tellier emphasized five key growth drivers; Bimzelx, Rystiggo, Zilbrysq, Fintepla and Evenity, each with patent protection extending to at least 2033. UCB has upgraded its 2025 outlook, supported by strong performance from these growth assets. Tellier also reviewed pipeline progress which includes assets in atopic dermatitis, ultra-rare diseases, and Alzheimer’s.
Mid caps deliver differentiation
Several mid-caps offered presentations on Day Three. Arcus touted the strength of their in-house discovery engine and highlighted the company’s strong funding position, with $1billion in cash which is predicted to see the company through to late 2028.
Disc Medicines’ President and CEO, John Quisel, covered the company’s transformation from a clinical-stage biotech toward a commercial-stage organization. Last November, the US FDA accepted the New Drug Application (NDA) for bitopertin – an oral GlyT1 inhibitor for use in erythropoietic protoporphyria – under an accelerated approval pathway.
Emerging innovators
As always, Day Three of JPM was a showcase for smaller players. Innovators across rare disease, oncology, gene therapy, and precision neurology took the opportunity to share financial and clinical news. These included Boston-based Compass Therapeutics, a biotech specializing in the development of monoclonal antibodies for oncology. Compass currently has three clinical-stage programs, and its lead candidate is a DLL4/VEGF-A bispecific antibody – one of the hottest areas in biotech right now.
Novocure’s presentation positioned the company at an inflection point, with two new indications under FDA review while the core glioblastoma business continues steady growth at 9% year-over-year globally, reaching over 4,000 active patients and record annual net revenue of $655 million.
2025 ended with a flurry of biopharma dealmaking, and JPM 2026 has been somewhat lacking in big licensing or M&A announcements, but there was plenty of innovation on show and a positive mood. The fundamentals are in good shape – let’s see where 2026 takes us.
Meanwhile, download the full Day Three report from Biomedtracker to catch up on the presentations from all the participating companies. Remember to check out Day One and Day Two summaries too!
