Amgen Delivers Solid Q3 Sales, Little Insight On Key R&D Programs
Question Of Omecamtiv, Sotorasib Filing Plans Unanswered
Amgen had a good third quarter despite some COVID-19 impacts but did not shed any light on filing plans for two key late-stage programs nor provide any insight into Phase III asthma results for tezepelumab.
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While Amgen said the Phase III GALACTIC-HF results for omecamtiv mecarbil did not meet its high expectations for the heart failure candidate, Cytokinetics sees a path to treating certain patients.
Olema launched this year’s 76th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.
The $80m financing will support a Phase III myelofibrosis study for the LSD1 inhibitor and earlier-stage programs, but additional late-stage studies will require an initial public offering, likely next year.