Public Company Edition: Kyverna and Alto Neuroscience, which may go public in the US this year, have drug candidates in or nearing mid-stage trials. Also, Zealand’s private placement raises $211.4m, Praxis prices a $150m offering and Solid grosses $108.9m in stock sale.

By agreeing to pay $7.3bn for Reata and its Friedrich’s ataxia drug Skyclarys, “recalibrating” Biogen can be more patient with launches of Alzheimer’s drug Leqembi and ALS therapy Qalsody.

Avrobio is facing up to the reality of investor skepticism about gene therapy platforms and business models – but can it find a buyer or merger partner to start again?

Raising money will be difficult for the foreseeable future, so every part of the ecosystem from start-ups to public companies to VC firms is figuring out how to survive until cash is easily accessible again.