The ranks of B7-H3-targeting antibody-drug conjugates under development in China have seen their first dropout, although elsewhere there are two FGFR2b-directed ADCs with first-in-class potential on the horizon. Meanwhile, there have been other discontinuations of KRAS G12C inhibitors and anti-BCMA CAR-T cell therapies in the country, while new players have surfaced in the areas of mRNA cancer vaccines and amyloid-beta-targeting antibodies for Alzheimer’s disease.

The company remained tight-lipped on the biomarker driving high response rates for its CDK9 inhibitor SLS009 from a Phase II trial, as a Phase III interim analysis for its AML cancer vaccine galinpepimut-S draws near.

Six new breakthrough therapy designations have been announced, all for novel agents, but approvals were fewer and limited to new indications and formulations.

Public Company Edition: CG Oncology grossed $380m in the first biopharma IPO in the US in 2024. Follow-on offerings have been robust recently, with Edgewise and Immatics grossing $240m and $175m, respectively.