1️⃣ BMS paid for Hengrui speed Bristol Myers Squibb and Hengrui signed a 13-program oncology, hematology and immunology collaboration, with $600 million upfront and up to $15.2 billion in milestones.
💡 Why it matters BMS gets ex-China rights to four Hengrui oncology and hematology assets, plus a broader co-development engine.
☕ Coffee talk If the upfront is only $600 million, which side is really selling optionality here?
2️⃣ Enterprise put ENaC back in play Enterprise said ETD001 hit Phase 2 efficacy in cystic fibrosis, with a 3.4 percentage-point ppFEV1 benefit over placebo after 28 days.
💡 Why it matters ENaC has burned larger companies before. A clean signal in the CFTR-modulator gap gives Enterprise a real Phase 2b argument.
☕ Coffee talk How much proof does a failed target class need before buyers stop treating it as damaged goods?
3️⃣ Roche moved Alzheimer testing closer to routine care Roche received CE mark for Elecsys pTau217, a Lilly-partnered blood test designed to rule in and rule out amyloid pathology.
💡 Why it matters If blood triage eases the PET and CSF bottleneck, Alzheimer adoption becomes less constrained by diagnosis infrastructure.
☕ Coffee talk If this moves into routine blood work, who gets squeezed first: PET capacity or the excuse for slow uptake?