|
|
Upfront Briefing
Leqembi’s subcutaneous formulation just picked up Priority Review in China, putting a simpler administration option on the clock for an early Alzheimer’s franchise.
Meanwhile, CSL grabbed an option-style look at Memo Therapeutics’ recombinant polyclonal IgG tech (up to $328M), and Hims & Hers said it’ll stop selling its compounded GLP-1 pill after U.S. legal pressure — a reminder that “creative distribution” has a shelf life.
Tape Action
| Instrument |
Last close |
1D % |
YTD % |
| S&P 500 |
6,932.3 |
+2.0% |
+1.3% |
| Nasdaq 100 |
25,075.8 |
+2.2% |
(0.7%) |
| Russell 2000 |
2,670.3 |
+3.6% |
+7.6% |
| Healthcare (XLV) |
157.7 |
+1.9% |
+1.9% |
| Biotech (XBI) |
125.5 |
+4.0% |
+2.9% |
| Nasdaq Biotech (NBI) |
5,980.4 |
+3.0% |
+4.8% |
| Clinical Trials (BBC) |
40.9 |
+5.1% |
+6.0% |
|
-
Friday was a clean risk-on snapback (tech/chips rebounded and small-caps ripped), and high-beta pockets led.
-
Biotech outperformed on the green tape (XBI +4.0% vs S&P 500 +2.0%) — typical “beta works” behavior after a de-risking bout.
-
Standout mover: Clinical Trials (BBC) jumped +5.1%, consistent with investors leaning back into earlier-stage / higher-duration risk.
-
Market data: U.S. close Fri 06-Feb-2026.
The Big 3
|
1
|
Leqembi subcutaneous formulation gets China Priority Review
|
-
The Biologics License Application for the subcutaneous formulation of Leqembi for early Alzheimer's disease has been granted Priority Review in China.
-
Why it matters:
SC autoinjector delivery can materially reduce infusion burden (chair time / site logistics), which is often the gating factor for real-world uptake; Priority Review also signals regulatory momentum in a large Alzheimer’s market and supports lifecycle defense as competition intensifies.
-
Source:
PR
-
More:
PR
|
|
2
|
Memo Therapeutics, CSL ink recombinant IgG tech deal
|
-
Memo Therapeutics and CSL have signed a collaboration and option agreement for the development of recombinant polyclonal IgG technology, potentially worth up to $328M.
-
Why it matters:
“Option + milestones” BD is a capital-efficient way for CSL to diligence a differentiated recombinant polyclonal IgG platform; for Memo it’s non-dilutive validation with upside, while pushing a meaningful chunk of development and funding risk onto the partner.
-
Source:
Fierce Biotech
-
More:
PR
|
|
3
|
Hims & Hers to stop selling GLP-1 pill after US pressure
|
-
Hims & Hers will cease selling its compounded GLP-1 product following legal pressure and a DOJ referral from the US government.
-
Why it matters:
The “compounded GLP-1” channel is colliding with enforcement risk: if regulators tighten APIs and pursue headline cases, durability of cash-pay/grey-market GLP-1 revenue gets repriced — and branded players see less leakage plus improved pricing power at the margin.
-
Source:
Endpoints
-
More:
Endpoints; BioSpace
|
Everything Else that broke
- Sanofi's rilzabrutinib gets US, Japan regulatory designations. — PR
- Roche shares Phase 3 fenebrutinib data in PPMS. — PR
- HHS drops legal fight over blocked 340B rebate pilot. — Endpoints
- US spending bill codifies FDA orphan-drug exclusivity. — Endpoints
- Priovant reports positive Phase 2 brepocitinib data. — BioSpace
- uniQure updates Fabry data; pauses higher AMT-191 doses. — Endpoints
- Sanofi discusses failed tolebrutinib PPMS trial. — Endpoints
- Biogen discusses Leqembi growth and strategy. — Endpoints
- ARPA-H lays off biomedical commercialization staff. — STAT
- Novartis breaks ground on San Diego research center. — PR
- Basilea receives Cresemba sales milestone payment. — PR
Deal Flow
|
BioBucks 2026 Deal Trackers • Updated weekly
⬇️
|
M&A / BD&L
- Memo Therapeutics, CSL ink recombinant IgG tech deal. — Fierce Biotech
-
Innovent, Lilly sign global oncology & immunology collaboration ($350M upfront; up to $8.5B milestones; royalties ex-Greater China). —
PR
VC / Private Financings
- No notable VC / Private Financings since the last edition.
IPOs / Follow-Ons
-
Satellos prices US$50M public offering (closing expected Feb 9). —
PR
- Biotech IPO window reopens with Agomab, SpyGlass offerings. — STAT
- Lexicon closes $94.6M public offering and private placement. — PR
Academic Corner
- The Next Chapter in Health Care Interoperability. — NEJM
|
|
That’s it for today — back tomorrow with more tape, terms, and therapy wars. BioBucks Team
|
|
|
