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Biotech & Pharma Intelligence

Edition 025 · Tue 10.20.2026

FDA approves a drug that may spare rectal surgery

FDA gave accelerated approval to a drug that may let some rectal cancer patients skip surgery.

Read the full brief

Five things to know

  1. Must readFDA gave Jemperli accelerated approval for rectal cancer that may not need surgery.It covers untreated stage II and III dMMR or MSI-H rectal cancer. In the single-arm AZUR-1 trial, 47% of 116 centrally reviewed patients had a complete response lasting 12 months; lasting benefit still has to be confirmed.Partial AZUR-1 (NCT05723562) registers sustained complete clinical response at 12 months by central review, at 18 months, N=154. FDA's notice reports that measure in 116 evaluable patients (47%); the press an#
  2. Must readMerck KGaA agreed to buy Silence Therapeutics for about $1.3B in cash.The price is $20.00 per ADS, a 130% premium, for a company led by divesiran, a Phase 2 siRNA in polycythemia vera. One deal is a price point for RNAi, not a trend.#
  3. Must readRoche licensed Hansoh's ADCs for $400M upfront.Hansoh gets $110M more on the first anniversary and potentially more than $15B in milestones for programs that are still preclinical; it keeps Greater China.#
  4. Know itRapport's RAP-219 beat placebo in acute bipolar mania, narrowly.Mania scores improved 3.1 points more than placebo at week 3 in 253 patients (p=0.045), with more agitation on drug, Rapport says.Match NCT07046494 registers YMRS change from baseline to week 3, N=253; the release reports that endpoint at that timepoint in 253 patients.#
  5. Know itEyePoint's wet AMD implant missed; it is cutting about 53% of staff.LUCIA didn't show non-inferiority on vision against aflibercept, and the release gives no visual acuity numbers.Partial NCT06683742 registers average change in BCVA at weeks 52 and 56, the endpoint the release reports as missed. The registry lists 400 participants; the release says 475.#

Bright spot

A French team profiled 423 newly diagnosed myeloma tumors in Nature Medicine and built a model that predicted, with an area under the curve of 0.77, which patients would clear detectable disease after four-drug induction. It still needs testing in practice.

Verified today #

Claim Check #

Readout Registry says Headline says Verdict
Dostarlimab · GSK NCT05723562 Sustained complete clinical response for 12 months by central review, at 18 months. N=154. Primary completion 11.02.2026. FDA notice: 47% of 116 centrally reviewed. FDA press: almost three-fourths avoided surgery, radiotherapy or chemotherapy Partial
RAP-219 · Rapport NCT07046494 YMRS change, baseline to week 3. N=253. Primary completion 08.05.2026. 3.1-point gap vs placebo at week 3 (p=0.045), N=253 Match
Emvistegrast · Gilead NCT06290934 Clinical response at week 12 (modified Mayo). N=228. Primary completion 03.04.2026. 66% vs 37% clinical response at week 12 on 200 mg (39 of 59 vs 22 of 60); 238 in the safety set; the 75 mg and 25 mg arms not disclosed Partial
DURAVYU · EyePoint NCT06683742 Average BCVA change at weeks 52 and 56 vs aflibercept. N=400. Primary completion 10.2026. Missed non-inferiority on BCVA; N=475; no BCVA numbers Partial

Calendar #

Date Event Who Confirmed at
2026-10-20 Post-trial hearing, AnaptysBio v. GSK/Tesaro over Jemperli Company
2026-10-21 Abbott Q3 results Company
2026-10-21 IDWeek 2026, Washington, DC Organizer
2026-10-21 NASPGHAN annual meeting, San Diego Aggregator
2026-10-22 Roche Q3 sales, before the Swiss open Company
2026-10-22 ASN Kidney Week, Denver (to 10.25) Organizer
2026-10-23 ESMO Congress 2026, Madrid (to 10.27) Company
2026-10-23 Novartis investor call on remibrutinib in MS, 6:30 pm ET Company
2026-10-24 Goal date: Joenja (leniolisib) sNDA, APDS ages 4 to 11 (a Saturday; FDA may act earlier) Company
2026-10-25 ESMO orals: OSE Combi-TED and Nouscom NOUS-209 Company
2026-10-26 Goal date: bepirovirsen, chronic hepatitis B (GSK; priority review) Company
2026-10-27 Novartis Q3 results Company
2026-10-27 FOMC; statement 2:00 pm ET on 10.28 Fed
2026-10-28 FDA public meeting, Rare Disease Framework Initiative, Silver Spring Aggregator
2026-10-29 Merck Q3 call, 9:00 am ET Company
2026-10-29 Lilly Q3 results, call 10:00 am ET Company
2026-10-29 BMS Q3 results Company
2026-10-29 Gilead Q3 results, after the close Company
2026-10-29 FDA action expected: Ilumya (tildrakizumab), psoriatic arthritis (Sun Pharma) Company
2026-10-29 Q3 GDP advance estimate and September PCE, 8:30 am ET BEA
2026-10-30 AbbVie and Regeneron Q3 results, before the open Company
2026-10-30 FDA DODAC: atropine 0.01% for pediatric myopia (Sydnexis) FDA
2026-11-01 Goal date: mitapivat sNDA, sickle cell disease, based on data in patients 16 and older, filed under the accelerated approval pathway (Agios; priority review; a Sunday, so FDA may act earlier) Company
2026-11-02 Vertex Q3 results, after the close; AZUR-1 registered primary completion Company

Registry Watch #

Trial Field Was Now Read
LIBREXIA-STROKE (milvexian) Ph3 NCT05702034 Flag Primary completion passed (10.15.2026)
Tilrekimig AD Ph2 NCT05995964 Flag Still recruiting at primary completion (10.19.2026)
ALOFT-IPF (admilparant) NCT06003426 Flag Topline out 10.12; no results posted
MAXPIRe (axatilimab IPF) Ph2 NCT06132256 Flag Primary completion passed (09.2026)
ARISE (solengepras, Parkinson's) Ph3 NCT06553027 Flag Primary completion passed (08.2026)
ZP9830 Phase 1 NCT06682975 Flag Still recruiting past primary completion (08.2026)
MRT-8102 Ph1 NCT07119125 Flag Primary completion passed (07.2026)
BMF-650 Ph1 NCT07223216 Flag Primary completion passed (05.2026)

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