Public Company Edition: Initial public offerings may take a holiday break, but 2020 already has been a remarkable year for IPOs in the US and China. Also, Arvinas led the latest follow-ons with a $400m offering followed by TG Therapeutics with a $275m stock sale.

Yumanity goes public by merging with Proteostasis; it is accelerating its Parkinson’s program because of mouse model data showing disease-modifying potential. Proteostasis will out-license its CF assets.

Next-generation CFTR corrector elexacaftor aims to be first cystic fibrosis product with minimal function mutations claim after winning out over VX-659 thanks to tolerability advantage in dueling Phase III programs testing combination with the components of Vertex’ Symdeko.

Already dominant in cystic fibrosis, Vertex hopes its triple regimen will address roughly 90% of the patient population. It also hopes the benefits of the triple will smooth EU reimbursement talks.