Abcam founder Jonathan Milner said he seeks to oust the chairman of the biotech supplier. Milner is taking steps to call an extraordinary general meeting of shareholders to replace current chairman Peter Allen.(Bloomberg)

PTC Therapeutics said that its drug for phenylketonuria, or PKU, met its key goal in a Phase 3 study. In PKU, patients’ bodies are unable to break down the amino acid phenylalanine, resulting in intellectual disability, memory problems, and other neurological issues. (STAT News)

An appeals court rejected former Theranos CEO Elizabeth Holmes’ bid to remain free while she tries to overturn her conviction in a blood-testing hoax that brought her fleeting fame and fortune. In another ruling, U.S. District Judge Edward Davila ordered Holmes to pay $452 million in restitution to the victims of her crimes. (NPR)

Intercept Pharmaceuticals shares fell after the Food and Drug Administration concluded Oca can cause significant drug-induced liver injury. This news came despite the fact that its autoimmune disease candidate received an orphan drug status designation from the FDA1. (Seeking Alpha)

AstraZeneca’s Tagrisso, in combination with chemotherapy, showed promise in a lung cancer trial. The British drugmaker said patients on the combined treatment showed a meaningful improvement in progression-free survival, or how long a patient lives without the disease getting worse after treatment, than patients given only Tagrisso. (Reuters)