Troubles are mounting for Clovis and its PARP inhibitor Rubraca, and now the company looks to be just months from bankruptcy.

Public Company Edition: PTC will get $350m up front as part of an initial $500m commitment. Also, while Biohaven and Vaxcyte launched traditional follow-on offerings, Recursion and Agios took the private placement and royalty sale routes, while others revealed job cuts and other strategic updates. 

Public Company Edition: Direct Biologics, YishengBio and Estrella Biopharma will go public by merging with special purpose acquisition corporations. Also, Vir lands a government contract worth up to $1bn, Idorsia raises CHF164m ($167.4m) in a real estate deal and Adamis reviews alternatives.

The antiplatelet drug-reversal agent could see uptake grow in tandem with that of Brilinta, but there is a history of drugs in similar indications underperforming on the market.