Restructuring Edition: Even big pharma companies are not immune from workforce reductions. BMS and Sanofi joined that ranks of Evotec, CureVac and BenevolentAI in cutting jobs. Also, Vaxxinity will de-list and Hepion winds down its NASH trial, among other strategic updates.

More than 100 biopharma executives and experts told Scrip their predictions for therapeutic area advances in the coming year. The recent commercial success of GLP-1s in diabetes and obesity and their potential in further disease areas fuelled excitement around the metabolic space. Expectations were also positive in neurology following the launch of Leqembi for Alzheimer’s disease in 2023, while the multiple opportunities to improve cancer treatment kept oncology top of the pile overall.

Public Company Edition: The closure of Silicon Valley Bank sank biotech stocks in the first full week of March, but valuations rose the next week when two big acquisitions were announced. Also, J&J’s consumer health spinout sold $7.75bn in notes ahead of its future IPO and Karuna grossed $400m in a follow-on offering.

Merging with the shell of troubled cancer biotech Sesen, Carisma believes its chimeric antigen-receptor-macrophage (CAR-M) platform can bring the immunotherapy application to solid tumors.