Drugs that have failed in clinical studies often come back for another go, making the same mistakes for a new cohort of investors who missed the first failure. The global pandemic is also enabling this for once- or twice-failed drugs.

Analysts considered the Phase III GALACTIC-HF study of omecamtiv mecarbil a failure but some anticipated that detailed data to be presented next month could at least partially redeem the drug.

Bausch seeks to add eyecare assets in Allegro deal. AstraZeneca hopes preclinical PCSK9 inhibitor from Dogma can compete with dyslipidemia leaders. Exelixis options ADC candidates from Catalent and NBE.

With 46 initial public offerings in the US by drug developers so far – including recent launches by Kymera, Inhibrx and Harmony – 2020 will easily beat last year’s 50 IPOs. In follow-on offerings and VC deals, newly public Schrodinger raised $346.5m and Tango’s $50m equity financing.