The company believes its new combination technology can make insulin injections a thing of the past.
Mereo claims another success with a big pharma castoff, but its win in alpha 1-antitrypsin deficiency is questionable.
Setbacks from Eliem, Ampio and Acadia thin an already sparse pain pipeline, which remains lacking in serious interest from big developers.
Amid a difficult start to the year for the drug development sector, Abbvie, Bayer, Ipsen and Lantheus stand out as stock market gainers.
Novel approaches including gene editing are creeping towards approval.