The job cuts are meant to preserve enough cash so the nearly three-decade-old company can potentially pursue its first drug approval next year.

Data inadvertently published from a closely watched lung cancer study suggest a drug blocking the protein TIGIT may help extend survival, a finding that boosted shares of other developers. 

The funding for Rapport Therapeutics saw participation from a series of so-called crossover investors, many of which have pulled back from biotech startups in recent years. 

The company doesn’t know if the needles have caused retinal vasculitis in some people receiving its geographic atrophy drug Syfovre, but is no longer recommending their use.

The funds going to Regeneron, clinical trial partners and other developers are the first major investments under a federal program announced in May.

The pharma’s suit, which claims Medicare’s new power to negotiate certain drug prices is unconstitutional, comes days before the agency will reveal the first 10 medicines to be included under the plan.

The biotech, which aims to develop an alternative to existing medicines and emerging gene-based treatments, will focus further testing on sicker patients.

Billing itself as both a scientific and investment partner, Foundery aims to provide drug development support to researchers working on new immunotherapies.

The shot, called Abrysvo, is the first maternal immunization approved to protect newborns from the respiratory virus in their first few months of life.

The hold is the latest setback for a drug that was the center of Gilead’s $5 billion acquisition of biotech Forty Seven in 2020.

The Series B round brings the total funding for Genesis, a California startup backed by Andreessen Horowitz and Nvidia’s VC arm, to over $280 million.

Analysts expect the approval of Ingrezza in Huntington’s patients with a movement disorder known as chorea to intensify a commercial battle between Neurocrine and Teva.