Public Company Edition: Alumis grosses $250m after it planned to raise up to $317.7m in its IPO. Also, Zealand adds $1bn in a post-data offering, Tectonic and Eliem close $130.7m and $120m private placements to support recent mergers, and Ginkgo cuts 35% of its workforce.

First clinical efficacy readouts from several biotech companies developing CAR-Ts for systemic lupus erythematosus will be unveiled at EULAR, though the level of competition may be unsustainable.

Zenas BioPharma plans to have data from four trials – two under way and two starting this summer – for obexelimab, which targets CD19 and FcγRIIb, within about a year and a half.

The highs of the COVID-19 era, and the lows that supplanted it, are beginning to fade.