Podcast
Biotech Hangout
Hosted by Daphne Zohar, Josh Schimmer, Brad Loncar, Tim Opler and more · EN
A weekly discussion of all things biotech – breaking news, data, deals, and FDA actions – with a community of biotech industry leaders and experts. Join the live streams hosted by @BiotechCH, @daphnezohar, @bradloncar and @biotech1 on Twitter Spaces every Friday at 12pm ET.
34episodes
Episodes
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Episode 189 - July 17, 2026
2d ago00:58:16Summary readyOn today’s episode, Yaron Werber, John Maraganore, SamFazeli, and Matt Gline open with a discussion of biotech market volatility, withmMatt noting that it often seems driven more by opaque factor dynamics than company-specific fundamentals. The group then turns to Eli Lilly’s continued“Amazonification” and reinventing the pharma business as it acquires a variety of different companies, including this week’s $2.8B upfront acquisition of Atai Beckley, a psychedelic-focused company. The conversation turns to BioCentury’s reporting on Asia-to-West NewCos, prompting a debate about whether China is uniquely changing the market or simply reflects broader shifts in cheaper, faster development. On policy, the group covers BIO’s response to the OMB proposal that could inject political review into federal grant decisions. The co-hosts also debate Kalshi’s move to create prediction markets around clinical trial and regulatory outcomes. On pipeline updates, the group discusses Merck’s approval of Lipfendra, the first oral PCSK9 drug, and the broader class implications. In CNS, Biogen and Ionis’ diranersen tau ASO data spark a discussion of aconfusing dose response, ASO tolerability, tau as a target in Alzheimer’s disease, and the promise of alternative modalities from Arrowhead and Alnylam. The episode closes with M&A and financing, including AstraZeneca’s licensing deal with Dizal for the EGFR exon 20 inhibitor sunvozertinib andErasca’s RAF data plus its $500M financing, which Sam views as a strong market signal despite a volatile biotech backdrop. This episode aired on July 17, 2026.
SummaryEpisode 188 - July 10, 2026
1w ago01:00:52Summary readyOn this week's episode, Sam Fazeli, Josh Schimmer, Eric Schmidt, Paul Matteis, and special guest STAT's Matt Herper open on the market, noting that despite a wobbly day for biotech, the XBI holds strong gains year-to-date. The conversation turns to FDA transparency, where the co-hosts flag that CRLs haven't been released since April and that the agency may be walking back that practice. The co-hosts debate whether the FDA is swinging too far toward leniency after Agios' mitapivat won priority review in sickle cell disease despite missing its primary endpoint last year. On AI in drug discovery, Matt Herper recaps an interview with Anthropic's CEO about a new research tool, noting that it's plausible the tool helps industry pick better targets and lower the failure rate. In M&A, Vertex's largest-ever deal takes Crinetics for $10 billion net of cash, staking a claim in the specialty rare endocrine space, while Novartis expands its ADC portfolio with Myricx for $1.1 billion upfront plus $400 million in milestones — the second European ADC deal in recent months. On data, AstraZeneca and Ionis' eplontersen trial in ATTR-CM missed its endpoint, showing no benefit or biomarker signal on top of background tafamidis; the group then discusses the readthroughs for BridgeBio, Alnylam, and Pfizer's ATTR therapies. This episode aired on July 10, 2026.
SummaryEpisode 187 - June 26, 2026
3w ago01:00:06Summary readyOn this week’s episode, Josh Schimmer, Eric Schmidt, Tess Cameron, and Sam Fazeli open by noting the XBI’s continued rise, debating whether biotech is getting ahead of itself. The co-hosts call this a “new era” in which biotech can be profitable rather than sold off to pharma. The conversation shifts to deals, with AbbVie’s $10.9 billion acquisition of Apogee, which raised questions about China-sourced drugs given their volume, pace of innovation, and cheaper price. The group also covers Boundless Bio and Serapha’s merger, alongside a $230M private raise. Ollin Bio -- whose pipeline is built entirely on Chinese assets -- raised $330M Series B to advance Phase 3 trials of a bispecific antibody for diabetic macular edema and wet AMD, which led to a debate on the COINS Act and the distinction between physical and innovation supply chains. The group then overviews potential FDA Commissioner candidates, with BIO CEO John Crowley and physician Heidi Overton as front-runners alongside acting leader Kyle Diamantas. In company news, CVS Caremark deferred adding $SPRY’s epinephrine nasal spray Neffy to its formulary, pushing the review to January 2027. The episode concludes with data updates from Moonlake in HS, Merck’s ulcerative colitis drug, Definium’s Phase 3 LSD data in MDD, and Absci’s Lilly-backed prolactin antibody raise. *This episode aired on June 26, 2026.
SummaryEpisode 186 - June 12, 2026
Jun 1201:01:29Summary readyOn this week’s episode, Graig Suvannavejh, Eric Schmidt, Paul Matteis and Financial Times’ Oliver Barnes kicked off with the biotech market, with the XBI in positive territory and 12 biotech IPOs completed so far this year. They expected the IPO window to remain open for high-quality private companies. The group also overviewed recent financings, including SonoThera’s $125 million Series B, City Therapeutics’ $100 million Series B, Ethyreal’s $101 million Series A, and Summit’s decision to cancel a $500 million secondary offering. In data news, the co-hosts covered Tango’s combination data with Revolution Medicines’ RAS inhibitor. They also discussed Incyte’s acquisition of Vega Therapeutics as a pipeline-building move ahead of Jakafi’s 2028 patent expiration and J&J’s acquisition of Firefly, with the RAS inhibitor space expected to remain hot. The group also discussed GSK’s acquisition of Nuvalent -- its largest deal to date -- for two late-stage lung cancer assets. Oliver added perspective on biotech deal leaks, following the Incyte/Vega deal and GSK/Nuvalent deals this week. In partnership updates, Novartis expanded its molecular glue work with Orionis, Lilly licensed an Alzheimer’s candidate from AlzeCure, and Corvus supported China partner Angel Pharmaceuticals. The episode concluded with the latest in rare disease and gene therapy, covering Novartis’ FSHD program, FDA flexibility, Rett syndrome programs, and Sensorion’s exit from hearing loss development. *This episode aired on June 12, 2026.
SummaryEpisode 185 -June 5, 2026
Jun 901:00:28Summary readyOn this week’s episode, Yaron Werber, Tess Cameron, SamFazeli, and Brian Skorney kick off with a look at markets, noting that while AI remains hot, biotech may be cooling amid anticipated tech IPOs. The co-hosts note that biotech saw a significant recovery over the past year driven by M&A and improving sentiment, highlighting that the XBI has remained remarkably stable. The discussion then turns to policy, where momentum to expand the COINS Act into biotech raises concerns. The group highlights the need to distinguish between manufacturing supply chains, where national security risks are real, and innovation ecosystems, where restricting capital flows could slow drug development and shift advantage outside of the US. Recapping the highlights from ASCO 2026, Akeso/Summit’s ivonescimab showed meaningful survival benefits, while Revolution Medicines’ KRAS program in pancreatic cancer stood out as a breakthrough, receiving a standing ovation at the conference. In breast cancer, the focus was centered on emerging CDK4 selective inhibitors from Pfizer and others. Grail’s multi-cancer early detection readout was also discussed, along with in vivo CAR-T data from Kelonia that showed strong early responses but raised durability questions. *This episode aired on June 5, 2026.
SummaryEpisode 184 - May 29, 2026
May 2900:58:11Summary readyOn this week’s episode, Chris Garabedian, Brian Skorney, Graig Suvannavejh, and special guest Ginkgo Bioworks CEO, Jason Kelly, kick off with a market update, highlighting a continued positive sentiment, citing Endpoints’ recent Biopharma Sentiment Index survey results, which showed improvements in biopharma conditions. The co-hosts also note the continued IPO activity, including Kardigan’s recent filing. The conversation shifts to China, with Jason suggesting that genetic engineering is a strategic technology extending beyond therapeutics, warning that the U.S. is offshoring critical innovation to China. This sparks a debate with others noting that global collaboration is embedded in drug development and questioning whether restricting partnerships would ultimately harm U.S. competitiveness. In deals, the group highlights Lilly’s acquisition of three vaccine companies for up to $3.8 billion and Apogee’s $1.3 billion strategic collaboration with Blackstone to advance their eczema drug. The conversation shifts to data, with GSK’s Phase 3 data for chronic hepatitis B drug, and an overview of datasets at ASCO 2026, including Revolution Medicines Phase 3 trial results for pancreatic cancer, which are expected to be the headline of the conference. The episode concludes with an overview of Biohaven’s R&D Day, BMS in multiple myeloma, Dyne’s DMD, and updates on the FDA following the recent leadership changes. after the departure of Dr. Marty Makary. *This episode aired on May 29, 2026.
SummaryEpisode 183 - May 15, 2026
May 1501:01:20Summary readyOn this week’s episode, Sam Fazeli, Josh Schimmer, Eric Schmidt, and Tess Cameron kickoff with deals, highlighting the up to $15.2B Hengrui–BMS partnership and the broader trend of outsourcing early-stage drug development to China. The discussion continues with the co-hosts noting China’s edge in speed, quality, and cost-efficiency, while underscoring that the strength of U.S. capital markets remains a key advantage. This week also saw a significant raise, with Isomorphic Labs announcing a $2.1B Series B. In regulatory news, the group described the departure of FDA Commissioner Dr. Marty Makary as creating fresh uncertainty around FDA leadership and direction as they speculated on his exit and who will replace him. On the data front, Regenxbio met the primary endpoint inits Phase 3 trial for Duchenne, though the hosts flagged potential investor skepticism around the side effects, limited data, and FDA uncertainty. Next, they discuss that Biogen and Ionis are advancing their Alzheimer’s tau program despite mixed results. The co-hosts also mention Inhibrx’s Phase 2 data in head and neck squamous cell carcinoma, as well as Moderna’s Hantavirus vaccine research following the recent cruise ship outbreak. The episode concludes with a look ahead to upcoming conferences, including ASCO, ADA, and ATS. *This episode aired on May 15, 2026.
SummaryEpisode 182 - May 8, 2026
May 801:00:15Summary readyOn this week’s episode, Josh Schimmer, Paul Matteis, Eric Schmidt, Yaron Werber, and special guest STAT’s Allison DeAngelis open with what they describe as “a bananas week for biotech,” highlighting strong substantial secondary offerings, including Cytokinetics and Avalo Therapeutics. The conversation then turns to M&A, with multiple new deals announced in Q1 and continued activity this week, including UCB’s acquisition of Candid Therapeutics for up to $2.2B, Angelini’s $4.1B purchase of Catalyst Pharmaceuticals, and Bayer’s acquisition of Perfuse for up to $2.45B. The group also reflects on what feels like the year of developmental-stage biotech, highlighting investor focus on companies with pipeline events such as Vertex and Biogen, while commercial-stage companies have lagged. In regulatory news, the co-hosts discuss Sanofi’s decision to withdraw diabetes drug, teplizumab, from the Commissioner’s National Priority Review program, broader concerns about shifting goalposts and political influence, and contradicting outcomes including Replimune’s rejection versus Atara’s reversal. On the data front, the hosts discuss Cytokinetics’ Phase 3 results and subsequent $650M raise, as well as encouraging autoimmune data from Artiva Biotherapeutics. They also overview neurofilament as a biomarker following Clene’s data, and J&J’s decision to advance its DUET program despite failing to meet its primary endpoint in IBD. *This episode aired on May 8, 2026.
SummaryEpisode 181 - May 1, 2026
May 801:00:02Summary readyOn this week’s episode, Eric Schmidt, Matt Gline, Chris Garabedian, Sam Fazeli, and Graig Suvannavejh open with a discussion on biotech public‑market dynamics, noting solid year‑to‑date performance for the XBI. Next, the group highlights the reopening of the IPO window, with multiple upsized offerings and strong aftermarket performance, supported by renewed generalist investor interest. The conversation then turns to large‑cap pharma earnings, with focus on Lilly’s continued outperformance driven by its obesity franchise and evolving commercialization strategies. Next, the co-hosts discuss robust deal flow across the sector, led by Lilly’s aggressive M&A activity. On the data front, the co-hosts cover Revolution Medicines’ practice‑changing Phase 3 pancreatic cancer data and the contrasting market reaction to competitor results, as well as key takeaways from Summit Therapeutics’ Harmony‑3 interim analysis in lung cancer. Also in data news, developments in Alzheimer’s disease, including recent trial setbacks, regulatory approvals, and encouraging early commercial traction for new therapies are also mentioned. The episode concludes with reflections on IPO cycles, valuation discipline, and cautious optimism for sustained momentum in biotech markets. *This episode aired on May 1, 2026.
SummaryEpisode 180 - April 17, 2026
Apr 1700:53:48Summary readyOn today’s episode, Chris Garabedian, Paul Matteis, Tess Cameron, and special guest Adam Feuerstein kick off with a discussion of the public markets, highlighting the XBI’s post‑pandemic highs, Kailera’s IPO pricing and more than $625 million raised, the opening of the IPO window with multiple filings, and increasing generalist interest in the biotech sector. The group also discusses Obsidian Therapeutics going public following a reverse merger with Galera, alongside a $350 million PIPE. The conversation shifts to the rise of clinical trial prediction markets and the growing role of AI tools in the life sciences industry. Next, the co‑hosts highlight another acquisition by Lilly, with their $300 million purchase of Crossbridge Bio. In Regulatory news, the group overview the FDA approval of Travere Therapeutics’ kidney disease drug for FSGS and the broader implications for the renal space. On the data front, the group mentions Allogene’s CAR‑T data and the mixed stock reaction, along with Revolution Medicines’ positive Phase 3 data in pancreatic cancer. Spyre’s positive Phase 2 data in ulcerative colitis is also covered. The episode concludes with a discussion on how clinical data continues to drive market dynamics. *This episode aired on April 17, 2026.
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