Public Company Edition: Outside the US, Zai Lab raised more in its recent Hong Kong initial public offering – $766.4m – than PMV, Prelude, Taysha, Graybug and Greenwich combined. Also, Gilead priced debt to fund its $21bn Immunomedics buy and ADC Therapeutics raised $204m.

For a biotech launching its first product the pandemic has compounded the usual pressures of a competitive indication against deeper-pocketed competition.

Sanofi/Regeneron’s anti-PD-1 product Libtayo may be late to the NSCLC party but strong data from EMPOWER-Lung 1 suggest it could gain traction in the space, especially in patients with high PD-L1 expression levels.

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.