The latest drug development news and highlights from our US FDA Performance Tracker.

The updated data are in line with prior interim readouts but nonetheless triggered strong reactions. One analyst slashed their peak sales forecast for Vicinium, while another talked up the likelihood of rapid commercial adoption of the fusion protein-drug conjugate.

Public Company Edition: Of five drug developers expected to go public, four have preclinical or early clinical candidates, while the one that could not find a market for its IPO is in Phase III. Also, Biohaven, Zymeworks and Kura raise $100m or more in follow-on offerings.

UroGen's reverse thermal gel formulation of mitomycin produced a high rate of complete responses in patients with urothelial cancer; developing a commercialization strategy for the product will benefit from the experience of the company's new CEO.