Shares in Clovis Oncology Inc. (NASDAQ:CLVS) tumbled more than 75% after it warned it is facing bankruptcy with barely enough cash left to last until the end of the year, debts of more than $3 billion, and dwindling revenues from its only approved cancer drug, Rubraca (rucaparib). The company said Rubraca has been affected by a harder stance from regulators such as the U.S. FDA and European Medicines Agency, which are requiring overall survival data for cancer drugs to be marketed in the poly polymerase (PARP) inhibitor class.

Veru trading stopped as adcom mulls COVID-19 treatment

The U.S. FDA’s Pulmonary-Allergy Drugs Advisory Committee is deliberating the case of Veru Pharmaceuticals Inc.'s request for an emergency use authorization (EUA) to market VERU-111 (sabizabulin) as a treatment for COVID-19. Miami-based Veru wants an EUA for the microtubule disrupter as a therapy for hospitalized adults with moderate to severe disease who are at high risk for acute respiratory distress syndrome. Briefing documents seem to indicate a fairly smooth ride for the drug, though regulators did point to a limited data set. Trading of Veru shares (NASDAQ:VERU) was halted while the panel worked.

So the US had an election – what’s next?

Election Day has come and gone in the U.S., but the question of which party will control Congress remains unanswered, signaling that the country is as divided as ever politically and ideologically. What that means for the life sciences sector remains to be seen. While Democrats and Republicans may agree on problems such as drug pricing, competition hurdles, patent gamesmanship, and the need for innovation and pandemic preparedness, they often disagree on how to address them.

Drug developer stocks inch higher, but still down by 23.4%

A mega-deal and high-money buyouts may have given a boost to BioWorld’s Drug Developers Index in October, but safety issues, money troubles and failed trials continue to hold stocks down. Compared with the broader markets, drug development companies are showing the same ups and downs, influenced by rising inflation and a struggling economy, as well as uncertainties caused by war in Ukraine, the COVID-19 pandemic and politics.

NRG closes £16M series A to fund fight against neurodegenerative diseases

NRG Therapeutics Ltd. has closed a £16 million (US$18.3 million) series A round to take forward programs in Parkinson’s disease and amyotrophic lateral sclerosis, after pinning down the target of its brain penetrant small molecules.

Magnetic attraction makes bacteria better drug delivery vehicles

A new method for controlling naturally magnetized bacteria has improved the prospects of applying them as vehicles for intratumoral delivery of cancer drugs and in hyperthermia therapy.

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