The firm’s oral kallikrein inhibitor might offer a better overall profile for on-demand treatment than currently approved therapeutic and prophylactic agents, analysts said.

Public Company Edition: Arvinas grossed $350m in a private placement, while Xenon brought in $345m and Pharvaris raised $300m in follow-on public offerings. Fundraising remains challenging, however, so IGM Biosciences, Hansa Biopharma and other companies cut costs to save money.

The Swiss firm reported that its oral bradykinin B2 receptor antagonist reduced monthly hereditary angioedema attacks by 84.5% compared with placebo, suggesting biologic-like efficacy with an oral drug.

Public Company Edition: Private Galderma raised $1bn but said its next likely financing will be an IPO. Also, Azitra went public while Turnstone, Apogee and Sagimet initiated the process; Sutro signed a royalty deal for up to $390m; and despite a follow-on offering mini-surge, cost cuts continue.