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After Friday's market close, while much of the U.S. had already turned its attention to the long Memorial Day weekend, Amgen Inc. quietly axed its stake in brodalumab, the much-heralded IL-17 inhibitor that was part of a co-development and commercialization deal with partner Astrazeneca plc.

Mast Therapeutics Inc. has initiated a new open-label extension study to evaluate repeat dosing of its experimental sickle cell disease (SCD) therapy, vepoloxamer (MST-188).

With primary endpoint-missing phase IIb data in hand, Otonomy Inc. CEO David Weber said he is "more confident today" that OTO-104 for Meniere's disease is a viable product, and the company will be meeting with the FDA to talk about the planned phase III program.

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