The company is prioritizing investment in the launches of Leqembi, zuranolone and newly approved Qalsody as well as key pipeline assets, while discontinuing investment in two stroke programs.

The San Francisco-based company has taken a step forward with proof of concept for its ‘switch on or switch off’ approach to gene regulation via non-cutting CRISPR molecules.

Recent financings, including the $150m launch of Pathalys and a planned $100m IPO for Mineralys, illustrate the reality of biopharma funding in 2023 – that having near-term clinical trial milestones are key to fundraising this year. Companies with dwindling cash are conserving the funds they have left.

Private Company Edition: The amount of venture capital investment in biopharma companies has shrunk from quarter to quarter, but the average deal size remained high until the third quarter. Larger rounds from Treeline, Odyssey and Neumora offset a plethora of smaller VC financings early in Q4.