Pfizer’s oral weight loss drug may be as effective as and quicker than Ozempic injection by Novo Nordisk, according to results from a phase two clinical trial. The results were presented at a medical conference late last year, but JAMA Network only now is releasing the full peer-reviewed study. (CNBC)

Prelude Therapeutics and Cabaletta Bio raised around $161 million combined in public stock sales. The two drug developers went public through initial public stock offerings in 2019 and 2020, respectively.(Philadelphia Business Journal)

Novartis bolstered its gene therapy pipeline by spending $87.5 million on an Avrobio therapy. Avrobio disclosed Monday morning that the deal will extend the company’s cash runway by three quarters — taking it into the final quarter of 2024 — after selling a cystinosis gene therapy program to Novartis.(Endpoints News)

Atea Pharmaceuticals’ stock jumped on a takeover offer from Tang Capital. The firm offered a buyout of $5.75 per share. (Seeking Alpha)

Shares of Immunovant hit a 52-week high after the Food and Drug Administration greenlit its IMVT-1402 study. Immunovant said the study will evaluate the safety, tolerability and pharmacodynamic profiles of IMVT-1402 in healthy volunteers. (MarketWatch)