Without a mega-merger like 2023’s Pfizer/Seagan takeout, M&A deals grew smaller during the first half of 2024, while volume rose. In alliance deals, H1 2024 activity somewhat mirrored activity from H1 2023.

Restructuring Edition: Lykos recruited a J&J veteran to help its slimmed-down staff resubmit its MDMA-based PTSD therapy. Also, Lexicon cut its field force by 50%, or 75 jobs; Viracta cut its solid tumor program and 23% of its workforce; and Boundless Bio streamlined with moderate job cuts.

Public Company Edition: Actuate Therapeutics grossed $22.4m in its first-time offering, while already-public companies recently tapped a variety of sources for funding. Arrowhead negotiated a credit facility for up to $500m and ANI sold $275m worth of notes, among other financings.

After a quiet July, August and September are shaping up to be busy on the approvals front. Already this month, the US FDA has approved Adaptimmune’s Teclera for synovial sarcoma, Phathom’s Voquezna for gastro-esophageal reflux disease and Servier’s Voranigo for gliomas. Here, Scrip takes a look at ten other approvals for novel products in the offing for the third quarter.