Public Company Edition: Codiak, Kiromic, Aligos and Opthea have fallen below their initial public offering values, while Tarsus and Praxis are trading higher. Also, 5AM, MPM and Cormorant took biotech SPACs public and Evotec led recent non-IPO financings with a €250m private placement.

The latest application submission news and highlights from the Pink Sheet’s US FDA Performance Tracker.

Biopharma companies struggle with which trials, if any, to pause or delay. Lilly said it wants to ease the burden on health care facilities, while Galapagos said its choice is related to patient safety.

Public Company Edition: Jefferies report notes robust IPO market, but SVB Leerink predicts a financing slowdown. Also, Mirati raises cash for KRAS programs after Amgen's ASCO data and a strategic shift results in job cuts at ImmunoGen.