Biopharma financing activity from January through November reveals an environment that has cycled through dramatic peaks and subsequent normalization. In November 2025, $9.94 billion was collected through 96 transactions, down in both value and volume from $13.23 billion from 137 transactions in October.

The BioWorld Neurological Diseases Index continued the recovery noted at the end of August, closing November with a gain of 2.64%.

Drug developers big and small are pursuing a solution for the curse of psychosis that occurs along with the already tragic diagnosis of Alzheimer’s disease, an affliction known as ADP.

The data from Inflarx NV that took Wall Street by surprise also served to heighten attention for the hidradenitis suppurativa (HS) and chronic spontaneous urticaria (CSU) spaces, where other news has been bubbling lately on the industry as well as scientific fronts.

In October 2025, BioWorld tracked 252 clinical trial updates across phases I-III, roughly in line with September’s 230 but markedly higher than the 95 logged in August. Of those, 27 phase III studies reported positive results, while four disclosed failures. Clinical trial updates logged by BioWorld in October comprised 91 phase I reports, 75 from phase II, and 87 from phase III studies.

The Sept. 4, 2015, at-risk launch of Sandoz Inc.’s Zarxio as the first biosimilar to hit the U.S. market came several months after the FDA had approved the filgrastim biosimilar due to a court battle over the requirements of the 2010 Biologics Price Competition and Innovation Act, which laid out the rules of the road for the new class of follow-on drugs. Ten years later, biosimilar developers are still struggling with some of those rules that were drafted by Congress in an effort to balance competition with innovation in the biologics space. Insulin biosimilars may be the hardest hit.