The German biotech has highlighted its myelofibrosis drug candidate, pelabresib, as a key value driver going forward after a year of hard knocks and lackluster Monjuvi sales that forced the firm to downsize its workforce and cease preclinical operations.

The German biotech announced in March that it was terminating the early-stage oncology R&D projects that came with its purchase of Constellation last year and Novartis has snapped up one of them.

The Swiss firm has divested yet another one of its key programs in a bid to stave off insolvency and remain a listed company, forcing it to focus solely on a pre-IVF drug candidate.

Having surrendered the rights to linzagolix, its GnRH antagonist for bleeding associated with uterine fibroids that the FDA blocked, ObsEva is showing the door to most of its staff in a bid to cut costs and keep in business.