Ventyx Biosciences’ Crohn’s disease medicine did not help patients achieve remission in a phase 2 trial, sending the California biotech’s shares down over 20% at the open of Monday trading.

Cognition Therapeutics’ phase 2 SHINE trial has taken some of the luster off the Alzheimer’s disease drug candidate CT1812. The oral sigma-2 antagonist failed to statistically beat placebo—or clear Cognition’s own bar for success—on the main efficacy endpoint that focused on symptom severity, but the biotech wants to forge ahead.

Bristol Myers Squibb has had a whiplash change of heart on its BCMA bispecific T-cell engager, halting (PDF) further development months after filing to run a phase 3 trial. The Big Pharma disclosed the change of plan alongside a phase 3 win for a potential challenger to Regeneron, Sanofi and Takeda.

Acticor Biotech is discontinuing a phase 2/3 study of a blood thinner given alongside heart surgery based on the results of a futility analysis.

When conserving scarce financial resources, biotechs often favor their assets that have made the most progress through the clinic. Not Cue Biopharma, which is prioritizing its preclinical autoimmune portfolio over its clinical-stage oncology drugs—losing a quarter of its workforce in the process.

Abbott is asking users of its FreeStyle Libre 3 diabetes monitors to check the serial numbers of their sensors after the company found that a limited number could provide incorrectly high glucose readings.

AbbVie is discontinuing solo development of a midstage Alzheimer’s disease candidate, a monoclonal antibody that failed to differentiate itself against already approved treatments.

Calliditas Therapeutics’ slimmed-down, truncated and rethought primary biliary cholangitis (PBC) drug has hit its primary endpoint. But the biotech only saw a positive trend on liver stiffness and reported a higher rate of treatment-related dropouts on the study drug.

Boston Scientific boosted its financial outlook for the remainder of 2024, after seeing a nearly 20% surge in the year-over-year sales of its cardiovascular devices.

Sanofi has halted work on a phase 2 candidate for a rare growth disorder as part of a pipeline clear-out that saw the French pharma discontinue two other rare disease assets and one of its mRNA flu vaccines.