The latest breakthrough therapy designation announcements from the Pink Sheet’s US FDA Performance Tracker

Pharma and the US biotech will target key regulators of cellular metabolism with focus on immune and neurological disorders. Royalty Pharma buys portion of PTC’s royalty rights to risdiplam, under development at Roche.

Relay raises $400m to kick off July’s second big week of US initial public offerings. Also, Ocumension and Immunotech launch Hong Kong IPOs, Amgen invests $421m in BeiGene’s $2.08bn offering, Cytokinetics gets up to $400m in deal and investment funding, and Imvax closes $111m series C round.

Public Company Edition: Moderna leveraged its all-time high stock price to raise $1.34bn on the same day it reported data from a Phase I trial of its COVID-19 vaccine. Several other companies also took advantage of biopharma’s rising value.