After previous setbacks with the program, investors cautiously watched for Kodiak Sciences Inc.’s phase III Glow2 data of tarcocimab tedromer in diabetic retinopathy, but the positive top-line superiority results revealed March 26 caught many by surprise, and the company now plans to swiftly move toward an accelerated multi-indication BLA submission. With shares (NASDAQ:KOD) surging nearly 60% to $36.30 midday, Glow2 represents the first of three phase III readouts expected this year for Kodiak, and supports a new formulation strategy taken with its antibody biopolymer conjugate (ABC) platform that could have positive readthroughs for IL-6/VEGF-targeted bispecifics KSI-501 for wet age-related macular degeneration, and KSI-101 for macular edema secondary to inflammation. In Glow2, 62.5% of patients treated with tarcocimab tedromer, newly branded Zenkuda, achieved at least a two-step improvement in the diabetic retinopathy severity score, compared to 3.3% of sham-treated patients.

Phase I obesity data sends Wave stock sharply downward

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) were trading at $5.44, a drop of $6.86, or 55%, on upbeat new data from the phase I portion of its first-in-human Inlight trial evaluating WVE-007, an INHBE GalNAc-siRNA candidate developed by way of the firm’s Stereopure interfering Nucleic Acid, or SpiNA, technology. The drug is being tested in otherwise healthy individuals living with overweight or obesity. After six months of follow-up, a single 240-mg dose led to further improvements in body composition, including fat loss with muscle preservation. Clinically meaningful reductions in visceral fat and waist circumference turned up, too, in a population with less fat and lower body mass index than those in phase II and III obesity studies.

China-developed triple incretin enters global diabetes race

A next-generation triple incretin therapy jointly developed by Novo Nordisk A/S and China’s United Biotechnology outperformed semaglutide in a phase II trial, signaling intensifying competition in the GLP-1 obesity and diabetes market. Triple agonist UBT-251 showed a mean HbA1c reduction of up to 2.16% after 24 weeks in a phase II trial in Chinese patients with type 2 diabetes, according to top-line data. UBT-251 is among a new wave of triple agonists that target the receptors for glucagon-like peptide-1 (GLP-1), glucose-dependent insulinotropic polypeptide (GIP) and glucagon. These triple agonists could supplant current blockbuster GLP-1 therapies such as Novo Nordisk’s semaglutide and Eli Lilly and Co.’s tirzepatide.

Endogenex raises $50M for endoscopic diabetes treatment system

Endogenex Inc. has raised $50 million in an extension to its series C financing round to fund the completion of its pivotal Recet clinical study, which is evaluating the use of the company’s non-thermal pulsed electric field system for remodeling the duodenal tissue in adults with type 2 diabetes. The new capital will also be used to support the company's regulatory pathway towards U.S. FDA approval.

Pinnacle raises an $89M series B for its oral peptide programs

Pinnacle Medicines secured $89 million in a series B financing, bringing the total raised by the company to $134 million. The two-year-old startup, which was incubated by Orbimed, has developed an AI platform to discover oral peptides that can block protein-protein interactions. The platform, dubbed Pinsilico, has already produced a drug candidate that’s in toxicology studies and a plethora of additional discovery-stage programs.

Idel raises $10.4M for intracellular pan-cancer drug delivery tech

Newco Idel Therapeutics GmbH has closed a €9 million (US$10.4 million) seed round to advance the development of a technology for delivery of cytotoxic drugs directly into the cytosol of tumor cells, opening up previously undruggable intracellular targets. The key to this lies in avoiding entrapment of therapeutics by endosomes, thus preventing their degradation by the cell machinery. The delivery technology is relevant to modalities ranging from small molecules to multispecific antibodies.

Medtronic cuts earnings guidance on Minimed factors

Medtronic plc has lowered its fiscal year 2026 earnings per share (EPS) guidance by 12 cents on the back of factors relating to its diabetes subsidiary, Minimed Group Inc., which recently completed its IPO. In an 8-K filing, the company said it now expects EPS to be in the range of $5.50 to $5.54, down from the previous guidance of $5.62 to $5.66.

Korea roundup: Alteogen, Celltrion lead biotech deals

Subcutaneous (SC) formulation technology, microbiomes and oncological assets drove dealmaking in South Korea’s biotech sector this week. Alteogen Inc. secured the largest transaction, signing a potential $579 million license deal with Biogen Inc. March 25 to develop and commercialize two subcutaneous (SC) drugs based on Alteogen’s ALT-B4 technology, with an option for a third. Celltrion Inc. boosted its pipeline with a $137.45 million deal with Kobiolabs Inc. to acquire three microbiome-based candidates. Under undisclosed terms, SK Chemicals Co. Ltd. agreed to expand its collaboration with J2H Biotech Inc, potentially to co-develop assets for metabolic dysfunction-associated steatohepatitis (MASH) and idiopathic pulmonary fibrosis (IPF). Also under undisclosed terms, Yatiri Bio Inc. signed a global option agreement with Oscotec Inc. for denfivontinib (SKI-G-801), a multikinase inhibitor developed for acute myeloid leukemia (AML) and solid tumors.

Corvus leads drug developers as index climbs in early 2026

The BioWorld Drug Developers Index (BDDI) rose 6.42% in the first two months of 2026, outpacing both the Nasdaq Biotechnology Index and the Dow Jones Industrial Average. Shares of Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) surged to close Jan. 20 at $21.41, up 166%, following positive results from cohort 4 of a randomized, blinded, placebo-controlled phase I trial of its oral IL-2-inducible T-cell kinase (ITK) inhibitor, soquelitinib, in patients with moderate to severe atopic dermatitis.

Also in the news

Anavex, Apogee, Apotex, Avalyn, Beam, Brightgene, Candel, Cellbricks, Endogenex, Endra, Evon Medics, Expres2ion, Ferring, Gilgamesh, Harrow, Icecure, Imunon, Incyte, Kallisio, Lakeshore, Luminopia, Maze, Mirzyme, Novo Nordisk, OS Therapies, Otsuka, Pixee Medical, PTC, Quoin, Sarepta, Skylinedx, Triana, Vaximm, Veongen, Vera