The company still sees a potential path forward for tomivosertib in acute myeloid leukemia, where its mechanistic rationale is distinct from the one in NSCLC.

More than 100 biopharma executives and experts told Scrip their predictions for therapeutic area advances in the coming year. The recent commercial success of GLP-1s in diabetes and obesity and their potential in further disease areas fuelled excitement around the metabolic space. Expectations were also positive in neurology following the launch of Leqembi for Alzheimer’s disease in 2023, while the multiple opportunities to improve cancer treatment kept oncology top of the pile overall.

New data with a novel RNA translation regulator gave the stock a pre-ASCO boost, but the micro-cap company needs to keep the momentum going.

Also, two more health care-focused SPACs went public, Centessa obtained up to $300m in debt, three new venture capital funds launched and Intergalactic debuted with a $75m series A round.