Acer's bank reserves have dwindled down to next to nothing following the failure of its menopause drug, osanetant, in a Phase II trial some six months ago. Enter Zevra, which is getting hold of the company and its just-launched urea cycle disorder drug, Olpruva, in what looks like a bargain.

Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.

Office of New Drugs grants company’s appeal of complete response letter for tenapanor in dialysis patients, marking a rare sponsor victory through the agency’s formal dispute resolution process; new drug application resubmission is targeted for first half of 2023.

Private Company Edition: The Paragon Biosciences-founded Emalex previously raised $35m when ecopipam was in Phase II. Also, Catalio Capital launches a “special situations” fund, Zenas raises $118m to develop a pipeline of autoimmune disease treatments and Lusaris emerges with $60m.