Drug Development

Boston – October 30, 2026 -- Bambusa Therapeutics (Nasdaq: BBTX) priced its upsized initial public offering at $16.00 per share, raising expected gross proceeds of $168,888,880 from the sale of 10,555,555 common shares.

Underwriters hold a 30-day option on 1,583,333 additional shares

The clinical-stage biopharmaceutical company granted its underwriters the option to buy up to 1,583,333 more shares at the IPO price, less underwriting discounts and commissions. Bambusa is the sole seller; all shares in the offering come from the company. The gross figure is before underwriting discounts, commissions and other offering expenses.

Trading on Nasdaq Global Select Market begins October 30

Shares are expected to start trading on October 30, 2026, under the ticker BBTX. The offering is expected to close on November 2, 2026, subject to customary closing conditions.

SAN MATEO – October 29, 2026 -- Astrosalva Therapeutics, a privately held preclinical biotech, has launched with Unravel Biosciences as its founding development partner to pursue treatments for Alexander disease and the cerebral form of adrenoleukodystrophy (cALD). Unravel co-founder and CEO Richard Novak, PhD, has joined Astrosalva's board of directors.

Astrosalva widens its focus from Alexander disease to cALD

Both conditions are rare genetic diseases affecting the brain's white matter. In children, cALD can progress rapidly and often leads to total disability within a few years. MedlinePlus puts the prevalence of X-linked adrenoleukodystrophy, the genetic condition behind cALD, at 1 in 15,000 people worldwide. Ionis Pharmaceuticals estimates that Alexander disease affects about 1 in 1 to 3 million people worldwide.

PONTE VEDRA, Fla. – October 29, 2026 -- Cadrenal Therapeutics (Nasdaq: CVKD) is seeking out-licensing or co-development partners for CAD-1005, a 12-LOX inhibitor it describes as Phase 3-ready, after a competitor's late-stage trial in cardiac surgery-associated acute kidney injury (CSA-AKI) was discontinued for lack of efficacy.

Cadrenal extends CAD-1005 from HIT to a $1 billion-plus U.S. CSA-AKI market

The company is consolidating its Cardiac Acute Critical Care franchise around a dual-indication plan. CAD-1005 will be developed for heparin-induced thrombocytopenia (HIT) and for CSA-AKI, which Cadrenal sizes at more than $1 billion in the U.S. It claims first-in-class positioning in CSA-AKI following the competitor's Phase 3 discontinuation. The source does not name the competitor or the failed mechanism.

TOKYO – October 29, 2026 -- Astellas Pharma Inc. has secured an exclusive option on a worldwide license to Audax Biosciences' immuno-oncology candidate DAX-044 in a transaction worth up to US$1.34 billion, excluding royalties.

Audax receives US$285 million up front and on option exercise

Audax will receive US$285 million in combined up-front and option-exercise payments. It is also eligible for development and commercial milestones of up to US$1.05 billion, plus tiered double-digit royalties on worldwide net sales if DAX-044 is approved.

Audax carries the program into a Phase 1 study expected to start in 2027. DAX-044 is currently in IND/CTN-enabling development.

INDIANAPOLIS – October 28, 2026 -- Carnyx Therapeutics has advanced its lead oral sleep candidate, CNYX-005, into Investigational New Drug (IND)-enabling development, bringing the preclinical asset closer to potential first-in-human studies.

Aged-rat data show 1.5 to 2 hours of added sleep

In recently reported preclinical findings, CNYX-005 increased total sleep time by roughly 1.5 to 2 hours versus controls in aged rats. The gain was driven primarily by increased non-rapid eye movement (NREM) sleep. Chief Medical Officer Chris Brearley said existing treatments are limited by safety, tolerability and long-term use concerns, which he cited as the case for additional options.

TAMPA – October 27, 2026 -- Akari Therapeutics (Nasdaq: AKTX) is planning preclinical studies that pair its PH1 spliceosome-modulating payload with Whitehawk Therapeutics' topoisomerase I inhibitor (TOP1i) ADC platform, CEO Abizer Gaslightwala said in a Virtual Investor "What This Means" interview.

Whitehawk studies target dual-payload synergy

The preclinical work is designed to assess synergy between the two payload classes and to generate data that could support future development of next-generation ADCs. The announcement does not disclose financial terms for the collaboration.

Gaslightwala said recent strategic transactions show the market placing growing value on novel payload innovation. Akari argues PH1 extends beyond conventional payload approaches, and management believes the Whitehawk tie-up supports the platform's broad applicability across future oncology programs.

TAMPA, FL – October 27, 2026 -- Akari Therapeutics (Nasdaq: AKTX) is pairing its proprietary PH1 spliceosome-modulating payload with WhiteHawk Therapeutics' TOP1 inhibitor antibody drug conjugate (ADC) platform to test a dual-payload approach in oncology. President and CEO Abizer Gaslightwala laid out the rationale in a new CEO Corner segment released today. The release does not disclose financial terms.

Akari combines two payload mechanisms in one research program

The strategic research collaboration joins PH1, which targets RNA splicing, with WhiteHawk's TOP1 inhibitor technology. Gaslightwala said the ADC field is moving beyond single-payload development toward combinations of complementary mechanisms. Akari expects the pairing to broaden therapeutic activity and to demonstrate the applicability of PH1 across multiple uses.

PONTE VEDRA – – October 27, 2026 -- Cadrenal Therapeutics (Nasdaq: CVKD) has agreed to raise $3 million in gross proceeds from a single healthcare-focused institutional investor. Warrants could bring in about $5.8 million more if exercised in full for cash.

Cadrenal prices 960,000 shares at $3.125 with two warrant series attached

The private placement covers 960,000 common shares, or pre-funded warrants in lieu, at a combined price of $3.125 per share with accompanying warrants. The deal is priced at-the-market under Nasdaq rules. Each unit carries series C-1 and series C-2 warrants, each series covering up to 960,000 shares at a $3.00 exercise price. H.C. Wainwright & Co. is exclusive placement agent. Closing is expected on or about July 1, 2026, subject to customary conditions.

PONTE VEDRA, Fla. – – October 27, 2026 -- Cadrenal Therapeutics (Nasdaq: CVKD) has opened a formal strategic process covering its entire four-asset pipeline, with options ranging from asset sales to a full business combination. The Board of Directors initiated the review to maximize value for shareholders, and Tungsten Advisors will act as exclusive strategic financial advisor.

Four programs, from Phase 3-ready to preclinical, are in scope

The review covers CAD-1005, tecarfarin, frunexian and CAD-2000, the company's second-generation 12-LOX platform. Cadrenal says the process builds on ongoing partnering discussions.

Potential transactions include licensing or sale of individual assets, development and commercialization partnerships, portfolio transactions and business combinations.

Singapore – October 19, 2026 -- HistoIndex and Singapore's Agency for Science, Technology and Research (A*STAR) have signed a Memorandum of Understanding to jointly run preclinical evaluation and characterization of therapeutic candidates for fibrotic diseases, including cancer-associated fibrosis.

A*STAR pipeline candidates will be measured with HistoIndex's AI-based tissue analysis

The agreement pairs A*STAR's therapeutic development capabilities with HistoIndex's proprietary imaging technology and fully quantitative, AI-powered tissue analysis. HistoIndex's platform will provide objective, sensitive and accurate measures of fibrosis and treatment response across A*STAR's pipeline. Researchers are expected to use the data to decide which candidates to advance.