A mid-stage clinical failure raises more doubts about Galapagos’s pipeline and the wisdom of Gilead’s $5bn deal last year.
Though late-breakers rightfully seize much of the limelight at the Esmo congress, investors should look further afield too.
An early look at data from the huge cancer conference boosts Allogene and Immunogen, while Arvinas and Cytomx suffer.
Cytomx’s bispecific Probody approach attracts Astellas in a deal with a seemingly high up-front payment.
Roche awaits a high-risk, high-reward readout in autism, while for Ocular Therapeutix placebo ought to be easier to beat than active control.