Merck & Co. Inc. is buying Cidara Therapeutics Inc. for $9.2 billion to acquire a late-stage flu candidate and also to outrace blockbuster Keytruda’s looming patent expiration. CD-388, Cidara’s lead candidate, is in a phase III study of adolescents and adults for preventing influenza A and B in those who are at a high risk of developing complications. The strain-agnostic antiviral agent hit its phase IIb primary and secondary endpoints and has fast track and breakthrough therapy designations from the U.S. FDA. Cidara’s investors liked the acquisition, with the company’s stock (NASDAQ:CDTX) surging 105% at midday to $217.70 per share.

Lundbeck sparks bidding war with Alkermes for Avadel

Having agreed to a takeover by Alkermes plc valued at about $2.1 billion, Avadel Pharmaceuticals plc said it has received an unsolicited offer from Lundbeck A/S worth about $2.4 billion. Both deals involve contingent value rights. Alkermes said its board is “considering options,” and shares of Avadel (NASDAQ:AVDL) were trading at $22.98, up $3.74, or 19%. Alkermes’ stock (NASDAQ:ALKS) dipped by $2.02, to $28.99.

Charity bringing to EU market gene therapy spurned by pharma

Fifteen years since the first patient was treated, and after being ditched by two companies, the EMA is recommending approval of Waskyra (etuvetidigene autotemcel), the first gene therapy for treating Wiskott-Aldrich syndrome. The rare inherited primary immunodeficiency disease, which occurs almost exclusively in males, has a global incidence of 100-300 births per year, with 3,000-5,000 patients in addressable markets. Waskyra is an ex-vivo autologous hematopoietic stem cell gene therapy that has been brought to the point of commercialization by the Italian charity Fondazione Telethon, after it was dropped first by GSK plc, which had rights to the program from 2014-2018, and then by Orchard Therapeutics plc in 2022.

Third Arc Bio licenses Adagene tech for CD3 T-cell engagers

In a deal worth up to $840 million, Third Arc Bio Inc. is licensing Adagene Inc.’s Safebody technology platform to generate two masked CD3 T-cell engagers against unique tumor associated antigens. Under the deal terms, Adagene will receive an up-front payment of $5 million and is eligible to receive development- and commercial-based milestone payments of up to $840 million, plus royalties on sales. In exchange, Third Arc Bio gains rights to research, develop and commercialize two candidates globally. Adagene has a no-cost option to develop and commercialize these candidates in greater China, Singapore and South Korea. “A platform driven company will be able to commit to a few highly selected clinical programs, but the platform we built is so broadly applicable,” Adagene CEO Peter Luo told BioWorld.

Invivyd, Emergent and Armata drive infectious disease stock recovery

Biopharma companies focused on infectious disease extended their stock recoveries through the third quarter, with the BioWorld Infectious Disease Index (BIDI) closing October up 28.98%. On Aug. 26, shares of top-gainer Invivyd Inc. rose 84% fueled by multiple factors, including growing policy discussions in the U.S. that might favor long-acting prophylactic antibodies, new in vitro data confirming that its monoclonal antibodies Pemgarda (pemivibart) and VYD-2311 effectively neutralize the dominant SARS-CoV-2 variant XFG, and a $57.5 million equity raise.

Biopharma dealmaking climbs 17% in October to $31.9B

Through the first 10 months of 2025, biopharma deal value reached $244.59 billion, the strongest January through October total in the past seven years and reflecting continued momentum in strategic partnerships, collaborations and licensing agreements. The highest value deal in the month came from Takeda Pharmaceutical Co. Ltd., which entered a $11.4 billion collaboration with Innovent Biologics Co. Ltd. to co-develop and commercialize up to three immuno-oncology and antibody-drug conjugate candidates.

Adenosine surge is common thread in ketamine and ECT response

Researchers from the Chinese Institute for Brain Research, the Chinese Academy of Medical Sciences, and their collaborators have identified adenosine as the driving force behind the rapid, fast-acting antidepressant effects of ketamine and electroconvulsive therapy (ECT). Ketamine was first synthesized in the 1960s and approved in 1970 as an anesthetic, valued for its safety and its ability to produce dissociative anesthesia without slowing breathing. For decades, it was mainly used in surgical procedures, emergency care, and on the battlefield. The use of ketamine for depression began in the late 1990s, when researchers noticed mood improvements in patients receiving it for pain or anesthesia.

The BioWorld Insider podcast: Esperion Therapeutics CEO Sheldon Koenig

The latest episode of the BioWorld Insider podcast features Sheldon Koenig, CEO of Esperion Therapeutics. The company developed and is commercializing two U.S. FDA approved oral, once-daily, non-statin medicines for patients who are at risk of heart attack or other heart procedures and are struggling with uncontrolled LDL-C.

Also in the news

4Teen4, Adagene, Aeon, Annexon, Blue Cell, Century, Charm, Daiichi, Day One, Decoy, Engene, Enterome, Flightpath, General Proximity, Gilead, Imu, Inventiva, Ionis, ITM, Kaken, Mersana, Neurogene, Neurvati, Novartis, Numab, Nurexone, Outlook, Palatin, Prime, RBL, Salarius, Scripta, Sentinel, T-Therapeutics, Third Arc, Virometix