The overall survival data for Revolution Medicines Inc.’s phase III RASolute 302 study in previously treated, metastatic pancreatic ductal adenocarcinoma induced a mid-presentation standing ovation during the plenary session at the 2026 American Society of Clinical Oncology Annual Meeting. The pan-RAS inhibitor daraxonrasib reduced the risk of death by 60% both in patients with RAS G12 mutation as well as the overall population, which included patients with other mutations as well as wild type RAS. “It is an absolutely beautiful curve,” the discussant said of the Kaplan-Meier curve during their review of the presentation.

Hanmi, Haisco win billion-dollar partnerships with Eli Lilly

Hanmi Pharmaceutical Co. Ltd. secured a $1.26 billion deal with Eli Lilly and Co. to out-license ex-Korea rights to sonefpeglutide (HM-15912), a Lapscovery-based GLP-2 analog in development for multiple indications, including an ongoing phase II study of short bowel syndrome. It was one of two billion-dollar Asian company deals signed by Lilly on June 1, with the second transaction involving Haisco Pharmaceutical Group Co. Ltd., of Beijing. Haisco’s licensing and research collaboration to develop medicines across multiple therapeutic areas is worth $87 million in up-front and near-term payments, as well as up to $2.967 billion in milestone payments, plus single-digit tiered royalties on any product sales.

Drugmakers go WEE1 at ASCO 2026

At the 2026 American Society of Clinical Oncology Annual Meeting, multiple companies presented data for their drugs targeting WEE1, a checkpoint for the transition from G2 into mitosis. Aprea Therapeutics Inc. presented phase 1 data for its WEE1 inhibitor APR-1051 in patients with advanced solid tumors showing two patients with endometrial cancers achieved partial responses in the dose-escalation study. Likewise, Zentalis Pharmaceuticals Inc. had tantalizing early results from a phase Ib study showing azenosertib plus paclitaxel in patients with platinum-resistant ovarian cancer produced an overall response rate of 39% with a median progression-free survival of 7.3 months.

Oculis shifts focus on phase III DME disappointment

Oculis SA is shifting focus to two other pipeline programs after its most advanced candidate, OCS-01, failed to hit the primary endpoint in phase III testing, delaying the possibility of a topical option for treating diabetic macular edema (DME). An eye-drop formulation of high concentration dexamethasone, OCS-01 had previously shown promising results in stage 1 of the Diamond-1 phase III trial, including statistically significant improvement in mean BCVA at the three-month mark. However, a higher-than-expected placebo response prevented OCS-01 from hitting the visual acuity improvement goal at the 52-week timepoint. Shares of Oculis (NASDAQ:OCS), which dropped 23% the afternoon of May 29 when the news was announced, were trading down 34% this morning.

Phase II interim peek yields upbeat findings for Turn in AD

Turn Therapeutics Inc.’s positive data from an interim analysis included the first 50 subjects in the phase II trial in atopic dermatitis (AD) with topical IL-36 inhibitor GX-03. The randomized, double-blind, vehicle-controlled study is evaluating GX-03, an extended-release formulation of polyhexanide, widely used in Europe as a broad-spectrum disinfectant and antiseptic, in adults with moderate to severe disease. Heeding advice from the firm’s data monitoring committee as well as independent statisticians, and clinical/regulatory advisors – including strategy overseer Stephen Hahn, former head of the U.S. FDA – Turn used the completed cohort of patients as an integrated first-stage analysis. The idea is to better evaluate responder dynamics, endpoint sensitivity, and inflammatory burden behavior as a way of optimizing the trial’s second stage. Shares of the Westlake Village, Calif.-based firm (NASDAQ:TTRX) were trading at $6.16, up 17%, or 91 cents.

Edgewise sells muscular dystrophy assets to Servier for $2.65B

Edgewise Therapeutics Inc. is pulling in $1.55 billion up front by selling its muscular dystrophy business, including its fast skeletal myosin inhibitor, sevasemten, to Servier SA. The deal is potentially worth up to $2.65 billion when including potential $1.1 billion in milestone payments. Once Suresnes, France-based Servier takes over the business, Edgewise, of Boulder, Colo., will become solely a cardiovascular disease-focused company, with a pipeline consisting of EDG-7500 for hypertrophic cardiopyopathy, EDG-15400 for heart failure with preserved ejection fraction, and EDG-003 for an undisclosed target.

ASCO 2026: PD-(L)1 x VEGF bispecifics fight it out

Multiple companies are chasing Akeso and Summit Therapeutics Inc. in the battle to potentially dethrone Keytruda (pembrolizumab, Merck & Co. Inc.) as the top cancer immunotherapy with bispecific antibodies targeting PD-(L)1 and VEGF. Data from clinical studies testing drugs targeting the duo from Biontech and 3SBio – recently licensed to Pfizer Inc. – were presented in rapid oral abstract sessions at the 2026 American Society of Clinical Oncology Annual Meeting. With the most advanced drug in the class, Akeso and Summit got a spot in the plenary session although the data from the Chinese study was met with a bit of skepticism over the applicability of the results to the global population of lung cancer patients.

Policy to have bigger role in US grants?

The Trump administration’s efforts to ensure U.S. federal grants align with its policies may soon be coming to fruition. The White House Office of Management and Budget (OMB) released a proposed rulemaking Friday to revise its Guidance for Federal Financial Assistance. The overarching goal, according to the OMB, is to improve transparency, accountability and oversight for how federal tax dollars are used across the government in awarding and managing grants, cooperative agreements and other forms of federal financial assistance. With one of the stated purposes being to ensure that such grants and awards align with the president’s policies, the proposed changes echo executive orders President Donald Trump issued last year and earlier this year while increasing concerns of further politicizing the grant process.

ASCO 2026: Grail shifts focus to secondary endpoints in UK study

New data from Grail Inc.’s randomized study of its Galleri multicancer early detection test could not alter the fact that the U.K. trial missed the primary endpoint of reducing the number of cancers diagnosed at stage III and stage IV. But the company is now suggesting that discounting the initial screen, when most late-stage cancers were detected, would be more representative of a real-life steady state screening program. 

EASL 2026: Emerging liver disease targets to watch

At the recently concluded European Association for the Study of the Liver meeting, presentations underscored how increasingly granular insights into liver pathobiology are driving the rapid identification of new druggable targets across diverse indications. One such example was presented during the poster session by researchers from CIC Biogune, whose work builds on emerging evidence that disrupted magnesium homeostasis may drive cellular stress, epithelial dysfunction and fibrogenic activation – key processes underlying chronic cholestatic disorders such as primary biliary cholangitis and primary sclerosing cholangitis.

Also in the news

Abbvie, Abiomed, Agios, Allogene, Altimmune, Astrazeneca, Braeburn, Bristol, Cercare, Coredio, Cumberland, Cumulus, Dizal, Draig, Edap, Getinge, Idb, Immunogenesis, Intuitive, Johnson, Longbio, Merck, Moleculin, Nestle, Neuropace, Optimi, OSE, Otsuka, Outlook, Panther, Pfizer, Phanes, Regeneron, Replimune, Samsung Bioepis, Sciclone, Sequana, Siemens, Skia, Spectral, Tempest, Tempus, Zydus