Two weeks into the Josh Bilenker era at Eli Lilly, the legacy pharma was excited to spotlight three early-stage “priority” oncology programs as they issued their 2020 guidance. They also reiterated their investment in Alzheimer’s development, including their drug for the newly reinvigorated amyloid hypothesis.

The new guidance offers a hint as to what the hundreds-strong oncology group at Lilly will look like now that the Loxo C-suite has taken the reigns, and how the new executives will approach R&D. It also points to the unrelenting grip Alzheimer’s, both its debilitating impact on millions and its once-in-a-lifetime market potential, has had on the minds of Big Pharma despite years of trial failure.

“We’ve gots some important bets on A-beta that are going to play out in the near-term,” CSO Dan Skovronsky told investors. “We think this is an important test of the amyloid hypothesis.”

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Cytokinetics’ candidate for the muscle disease amyotrophic lateral sclerosis, or ALS, failed a Phase III trial, the Bay Area biotech announced Friday morning.

At a second interim analysis of the trial, an independent review committee recommended that Cytokinetics discontinue its COURAGE-ALS trial for reldesemtiv, as it “found no evidence of effect” compared to placebo on the primary or key secondary endpoints.

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In the early 1990s, Mathai Mammen was a teaching assistant in Greg Verdine’s Science B46 course at Harvard. In June, the former R&D head at Johnson & Johnson will succeed Verdine as CEO, president and chair of FogPharma, the same month the seven-year-old biotech kickstarts its first clinical trial.

After leading R&D at one of the largest drugmakers in the world, taking the company through more than half a dozen drug approvals in the past few years, not to mention a Covid-19 vaccine race, Mammen departed J&J last month and will take the helm of a Cambridge, MA biotech attempting to go after what Verdine calls the “true emperor of all oncogenes” — beta-catenin.

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Molecular Templates is ridding itself of a Phase I HER2 asset and fine-tuning its pipeline to focus on three programs and a preclinical Bristol Myers Squibb collaboration. With the narrowed scope on its so-called engineered toxin bodies, the Austin, TX biotech is laying off about half of its staff.

That’s a little more than 100 employees, per an SEC filing. Molecular’s layoffs, approved by its board Wednesday, add to the dozens of pullbacks in the industry in the first three months of 2023.

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This year has been tough for Aptinyx — two failed trials, a 60% cut in its workforce, and now the company has brought on a firm to help evaluate the future of the company.

The press release noted it’s working with the firm Ladenburg Thalmann as its financial advisor to assist in exploring and evaluating “strategic alternatives” — a process that a growing group of struggling biotechs has embarked on, sometimes ending in a merger, asset sale or wind-down.

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