New Omicron subvariants are beginning to emerge in the U.S., leading to concern among some health experts. Dr. Anthony Fauci noted COVID-19 deaths currently remain high, and pointed to the U.S. entering a “crossroads” as new subvariants may drive up cases. (CNBC)

Bayer said it is dropping its antisense therapy fesomersen; giving it back to Ionis Pharmaceuticals after purchasing it for $200 million in 2015. The company said it plans to focus on the development of asundexian, a blood thinner, instead. (Endpoints News)

A new antibiotic appears to be effective against urinary tract infections, GSK said. The company said it would follow a recommendation from its independent data monitoring committee to stop the study early because the drug had already proven to be effective. (CNN)

Invasive fungi kill more than 1.6 million people worldwide every year, leading the Centers for Disease Control and Prevention to call for improved drugs, diagnostics and monitoring. Some fungi have become resistant to antifungal drugs, creating a need for a new class of drugs. (Axios)

A group of academics and advocates are pushing for Congress to not pass the Pasteur Act, which would incentivize drugmakers to develop new antibiotics amid antibiotic resistance. Opponents argue the bill would fail to hold pharma companies accountable to clinical trial standards and is a “giveaway” to the industry. (STAT News)