Small cap biopharma firm Reviva Pharmaceuticals reported intriguing Phase III results for its schizophrenia candidate brilaroxazine that are at least on par with Karuna’s closely watched drug.

Public Company Edition: PTC sold more of its Evrysdi royalties to Royalty Pharma for $1bn. Abivax gained $235.8m in an IPO and concurrent private placement, while Cerevel grossed $450m and Nuvalent and Ultragenyx raised $300m each in follow-on offerings, but Freeline is reviewing strategic options.

Highlights of recent submissions for approval from the Pink Sheet’s US FDA Performance Tracker

The following four neurological products are likely to reach market next year. Carving out sales will be an entirely different problem.