Adagrasib may carve out a niche as the superior drug in colorectal cancer, but lung cancer – where Lumakras already is approved – is a larger market where Amgen has a big lead.

Public Company Edition: It took 256 days for 2021 to surpass the 2020 record of 86 biopharma initial public offerings in the US in one year. Also, Procaps raised $115m ahead of its SPAC merger and aTyr and bluebird raised $75m each.

Amgen’s KRAS G12C inhibitor in combination with the company’s Vectibix generated a 27% overall response rate, nearly tripling the responses seen with Lumakras monotherapy in colorectal cancer.

After discussions with the US FDA, the company determined it can file AMX0035 based on Phase II/III results and interim Phase III data. Amylyx is sticking with its go-it-alone strategy for global commercialization.

Private Company Edition: Recent biopharma venture capital financings add up to $1.7bn, including a $135m crossover round for HilleVax after spinning out of Takeda in July to advance a norovirus vaccine, Skyhawk’s $133m in fresh funding and Obsidian’s $115m series B round.

Janssen’s Mark Wildgust explained how the Johnson & Johnson subsidiary is pushing forward with novel therapeutics and combination regimens with the goal of eliminating myeloma in the first line.