On this week’s episode, Graig Suvannavejh, Chris Garabedian, Eric Schmidt, and Yaron Werber kick off with a look at a big week for biotech IPOs, led by Veradermics and Eikon Therapeutics. The co-hosts note that this could mark the start of a healthy year for high‑quality IPOs, with many companies entering the market with mature assets Generate Biomedicines’ S‑1 filing was highlighted as another positive signal for the industry. The conversation moves to policy, including Amgen’s decision not to withdraw Tavneos after the FDA flagged data from a 2021 trial conducted by ChemoCentryx before it was acquired by Amgen. The group also discusses the narrowly passed spending bill that reauthorizes the FDA’s rare pediatric disease priority review voucher program and the White House’s rejection of fast‑track review for Compass Pathways’ psychedelic. In obesity news, the group discusses Dr. Makary’s signaling FDA will take action against compound pharmacies following HIMS’ announcement that they will provide compounded semaglutide pills. The co-hosts also highlight promising clinical data from Pfizer and Metsera’s GLP‑1 program and Amgen’s investigational MariTide, which seem to reaffirm each other’s data and the competition between Novo and Lilly. There's also discussion on the broader obesity landscape. In company updates, the group covers GSK returning rights to Wave for its lead rare disease asset. The episode concludes with discussion of GSK’s decision to hold on a Phase 3 trials for its long‑acting TSLP program and upcoming Ocular Therapeutix wet AMD data. *This episode aired on February 6, 2026.

On this week’s episode, Josh Schimmer, Sam Fazeli, Brian Skorney, and Yaron Werber kick off with a discussion on policy with special guest BIO’s CEO John Crowley, overviewing what it means for the U.S. to “win” the biotech race against China, emphasizing the need for innovation and ensuring access to medicines. The conversation shifts to the latest at the FDA, where John acknowledges concerns around consistency at the agency and expresses optimism following conversations with FDA leadership at the JP Morgan Healthcare conference earlier this month. Next, the co-hosts discuss major investments in China, including AstraZeneca’s $15B commitment to China through 2030, focusing on R&D, manufacturing, and partnerships. Shifting back to U.S. policy, the group addresses the growing measles outbreak, highlighting the belief that science, data, and policy pressure will win out over anti-science rhetoric. Next, John notes that codifying MFN would be devastating for the industry. The conversation turns to deals, with Merck’s decision not to acquire Revolution Medicines, noting that the company’s current strong cash position and recent deals will likely make them attractive to Big Pharma in the future. Next, Eikon Therapeutics’ planned $273.5M IPO is also highlighted. The episode concludes with an overview of the FDA’s clinical hold on a Regenxbio gene therapy and discussion on Amgen stepping away from its OX40 partnership. *This episode aired on January 30, 2026.

On this week’s episode, Grace Colon, Tim Opler, Graig Suvannavejh, and Eric Schmidt kick off with an overview of Tim’s “The Case for Optimism” report, highlighting that macroeconomic conditions will need to stabilize and that M&A is likely to be significant in the coming year. The group also notes how quickly things can shift in biotech, citing recent inconsistencies at the FDA. Next, the co-hosts discuss the reopening of the IPO market after a quiet period, and how this could reshape M&A dynamics and company valuations compared to when acquisitions were the primary exit route. The conversation then turns to recent deals, including GSK’s $2.2B acquisition of RAPT Therapeutics for its next‑generation food allergy drug and Janux Therapeutics’ up to $850M cancer collaboration with BMS. On the policy front, the co-hosts cover the United States’ official withdrawal from the WHO and the FDA’s new draft guidance outlining how minimal residual disease and complete response could support accelerated approvals in multiple myeloma. They also highlight Corvus Pharmaceuticals’ positive Phase 1 results in atopic dermatitis and the company’s stock jump. Tim closes the episode by discussing his recent women’s health report and the growing interest and investment in the space. *This episode aired on January 23, 2026.