A pivotal miss leaves the company more reliant on earlier-stage pipeline programs as it talks to regulators about the path forward for its lead product.

The US firm’s lead antibody oligonucleotide conjugate candidate has improved muscle strength and mobility in an early muscular dystrophy trial but some experts are disappointed by dose-specific data and a serious adverse event.

Entrada gets $250m cash and equity up front under four-year deal, which extends its runway and will enable it to focus on Duchenne muscular dystrophy. Vertex further diversifies its pipeline with a novel drug class.

Public Company Edition: It has been almost a month since a biopharma firm launched an IPO in the US, but special purpose acquisition corporations continue to take drug makers public, including Alvotech and Aerami. Outside the US, MaaT closed an IPO in Paris and BeiGene priced a Shanghai offering.