Pub­lic biotechs can still raise mon­ey, but it comes with a big caveat: The clin­i­cal da­ta must im­press.

It ap­pears the mar­ket re­act­ed so with Day One Bio­phar­ma­ceu­ti­cals, as the biotech plans to se­cure $150 mil­lion this week in a pub­lic of­fer­ing. The four-year-old com­pa­ny is fol­low­ing a trend of biotechs go­ing straight to the mar­ket hours or days af­ter re­leas­ing re­sults that out­per­form ex­pec­ta­tions and pad the case for a drug’s po­ten­tial reg­u­la­to­ry path.

The fig­ure was orig­i­nal­ly $125 mil­lion, but the biotech seems to have gar­nered enough in­ter­est from in­vestors over the course of Tues­day on the back of a Sun­day night re­lease of clin­i­cal da­ta show­ing a for­mer Take­da drug worked well in treat­ing kids with a cer­tain form of brain can­cer.

The South San Fran­cis­co biotech had al­ready seen its shares $DAWN more than dou­ble since Fri­day’s clos­ing price, go­ing from $6.62 be­fore the week­end to $16 apiece be­fore Wednes­day’s open­ing bell. The com­pa­ny went pub­lic 54 weeks ago at an ini­tial price of $16, though that fig­ure surged on day one.

Day One’s drug, known as tovo­rafenib and in-li­censed from Take­da, had an ef­fect on many pa­tients in a mid-stage study, the biotech said Sun­day. An over­all re­sponse rate of 64% was record­ed among the first 22 evalu­able pa­tients who have a brain tu­mor known as re­cur­rent or pro­gres­sive low-grade glioma (pLGG).

The re­sults come from FIRE­FLY-1, which in­cludes a reg­is­tra­tion co­hort among three arms. That co­hort has en­rolled all pa­tients and will read out in 2023. A fil­ing is ex­pect­ed in the first half of next year, Cowen an­a­lysts not­ed. The an­a­lysts pre­dict­ed $675 mil­lion in peak sales in the R/R set­ting.

A Phase III study will be­gin in front­line pLGG, Day One de­cid­ed based on the new da­ta.

Oth­er biotechs have gone down this path in re­cent months. De­spite mas­sive head­winds and a shut­tered en­try on­to Wall Street for near­ly every am­bi­tious biotech, some list­ed com­pa­nies have been able to pull in new funds af­ter re­leas­ing da­ta that ex­cite in­vestors and throw some weight be­hind their the­ses.

Three com­pa­nies got the ball rolling in late March, over the span of 24 hours. As­cendis Phar­ma, ar­genx and Apel­lis Phar­ma­ceu­ti­cals reeled in a to­tal of $1.5 bil­lion in new monies af­ter late-stage and long-term da­ta on var­i­ous drugs.

More biotechs have fol­lowed suit since April show­ers be­gan. An­oth­er drug out of Take­da spurned a sim­i­lar fol­low-on of­fer­ing for Phath­om Phar­ma­ceu­ti­cals, which looked to the mar­ket for an­oth­er $260 mil­lion af­ter se­cur­ing FDA ap­proval to treat adults in­fect­ed by H. py­lori bac­te­ria. Re­zo­lute nabbed $130 mil­lion af­ter a Phase II da­ta drop in May, and Tar­sus sought about $75 mil­lion the same week af­ter a Phase III win for an eye drop.

Just shy of four months ago, Gilead’s next-gen HIV drug candidate lenacapavir got hit with a CRL over CMC issues involving the type of vials planned for use. Now, the pharma is headed back to the FDA for round two.

Gilead announced Monday afternoon that it had refiled its NDA submission filled with new CMC data after the FDA essentially balked at borosilicate glass vials, originally used for the non-oral form of lenacapavir. The drug candidate, which recently won a positive opinion from Europe’s CHMP, is being developed for HIV-1 infection “in heavily treatment-experienced (HTE) people with multi-drug resistant (MDR) HIV-1 infection.”

Astellas and Sutro Biopharma are linking arms on a new field of antibody-drug conjugates that they hope will improve upon existing cancer immunotherapies.

The Tokyo pharma will dole out $90 million in cash for the collaboration, the companies said Monday afternoon. That upfront payment will extend the South San Francisco biotech’s runway from late 2023 into the first half of 2024, Cowen analysts noted.

Ireland has been on a roll in 2022, with several large pharma companies announcing multimillion-euro projects. Now AstraZeneca’s rare disease outfit Alexion is looking to get in on the action.

Alexion on Friday announced a €65 million ($68.8 million) investment in new and enhanced capabilities across two sites in the country, including at College Park in the Dublin suburb of Blanchardstown and the Monksland Industrial Park in the central Irish town of Athlone, according to the Industrial Development Agency of Ireland.

Amidst recently broader vaccine manufacturing initiatives from the EU and European companies, the G7 summit in the mountains of Bavaria has brought about some positive news for closing vaccine and medical product manufacturing gaps around the globe.

According to a statement from the White House, the G7 leaders have formally launched the partnership for global infrastructure, PGII. The effort will aim to mobilize hundreds of billions of dollars to deliver infrastructure projects in several sectors including the medical and pharmaceutical manufacturing space.