Healthcare and Pharmaceutical Sector
The FDA granted accelerated approval to Bristol Myers Squibb's ZENBEXUS for multiple myeloma, while Cullinan Therapeutics and Taiho Pharmaceutical achieved phase 3 success with lung cancer treatment zipalertinib. However, Neurocrine Biosciences' Vykat XR is drawing clinician warnings following seven patient deaths, and the Trump administration is ending federal Medicaid funding for youth gender-affirming care.
The U.S. Food and Drug Administration granted accelerated approval to Bristol Myers Squibb's ZENBEXUS, or iberdomide, for adult patients with multiple myeloma who have received at least one prior line of therapy. The approval pairs the new pill with daratumumab and hyaluronidase-fihj plus dexamethasone, establishing the first-ever regulatory green light for a cereblon-modulating protein degrader, or CELMoD. Trial data showed the regimen doubled minimal residual disease-negative complete response rates to 41% compared to 21% for the standard comparator arm. The drug carries boxed warnings for embryo-fetal toxicity and thromboembolism, with some patients discontinuing treatment due to adverse reactions. Meanwhile, Bristol Myers Squibb shares traded around $64.66 following the announcement, leaving the stock near consensus price targets.
PTC Therapeutics and Eli Lilly are acquiring the core assets of bankrupt gene-editing firm Sangamo Therapeutics for $161 million in upfront cash through a court-supervised auction. PTC won the bidding for Sangamo's investigational Fabry disease gene therapy, isaralgagene civaparvovec, agreeing to pay $111 million at closing alongside $100 million in potential approval-linked milestones. Eli Lilly is paying $50 million to acquire Sangamo's genetic medicine platforms—including its zinc finger, capsid delivery, and molecular integrase technologies—plus the preclinical prion disease program ST-506. The transactions displace earlier stalking horse arrangements, including a lower initial bid from Astellas Pharma for the Fabry asset. PTC plans to integrate the gene therapy into its existing infrastructure without building new capacity, relying on a rolling biologics license application expected for completion in the fourth quarter. Lilly's acquisition gives the pharmaceutical giant outright ownership of the blood-brain barrier-crossing STAC-BBB capsid platform, removing future milestone and royalty obligations from a previous 2025 licensing agreement. Other bidders bought miscellaneous tools and equipment for $2.55 million, bringing total expected proceeds to roughly $163.55 million before milestones. Both deals remain subject to final bankruptcy court approval and regulatory clearances, with Lilly's transaction expected to close around September 4.
National Vision Holdings delivered second-quarter 2026 adjusted diluted earnings per share of $0.25 on revenue of $498.8 million, topping consensus estimates. Net revenue rose 2.5% year-over-year, supported by a 3.4% increase in comparable store sales and an intentional shift toward higher-value product offerings and managed care customers. The company funded this margin expansion despite a 4.9% drop in overall customer traffic, particularly among self-pay shoppers deferring purchases at introductory price points. Management raised its full-year adjusted operating income guidance to a range of $119 million to $139 million while maintaining its adjusted EPS target of $0.94 to $1.09. The retailer ended the quarter with 1,281 stores after opening nine new America's Best locations and closing two.