Public Company Edition: The new year started with two companies signaling plans for significant near-term initial public offerings, following Inhibikase’s launch as the last IPO of 2020. Other recent financial highlights include layoffs at Calithera and Regenxbio’s $200m Zolgensma royalty sale.

Emerging Company Profile: UK biotech Pneumagen expects to enter clinical studies in 2021 with a potential first-in-class glycan-targeted protein for preventing respiratory tract infections.

Public Company Edition: Phathom went public in the US within proposed pricing terms, but Cabaletta’s IPO went to market below a proposed range, while TFF launched in line with earlier plans. Also, Principia’s FOPO raises $210m and Trillium restructures.

Oxford Biomedica is teaming with Santen to develop a gene therapy for an undisclosed eye disease. Shionogi inks a pair of partnerships for Chinese rights to lusutrombopag and epertinib.