Cash-limited Organovo has an FXR agonist showing competitive efficacy and tolerability in MASH, but may need a partner to move forward in that disease as it may be prioritizing its IBD program.

Public Company Edition: This year’s newly public companies are trading an average of 9.7% below their IPO prices, including the two most recent debuts, Boundless Bio and Contineum. Also, Nkarta, Praxis and Nurix grossed $240m, $200m and $175m, respectively, in follow-on offerings.

Ali Mortazavi, CEO of e-therapeutics, says the RNAi specialist is delisting from AIM and describes the UK markets as “completely broken and closed” to biotech firms.

With Teva and Viatris recently under new management and Sandoz having last year split from former parent company Novartis, the three off-patent industry leaders are adopting different strategies for how they balance their generics and biosimilars interests with more innovative ventures.