Shutting down a zombie biotech

Adam Feuerstein is a senior writer and biotech columnist, reporting on the crossroads of drug development, business, Wall Street, and biotechnology. He is also a co-host of the weekly biotech podcast The Readout Loud and author of the newsletter Adam’s Biotech Scorecard. You can reach Adam on Signal at stataf.54.

How does a biotech company decide to shut itself down? Why does Eli Lilly have so much riding on its oral obesity candidate? And what’s the outlook for Vertex’s pain franchise?

We discuss that and more on this on this week’s episode of “The Readout LOUD,” STAT’s biotech podcast. We bring on Natalie Holles, who was the CEO of Third Harmonic Bio, which recently decided to dissolve and return cash to shareholders. She walks us through why the company has decided to do this and her advice for other biotech CEOs.

We also chat about a disappointing readout from Eli Lilly’s key small molecule GLP-1 candidate, setbacks in Vertex’s pain business, and the story behind Replimmune’s recent FDA rejection.

For more on Third Harmonic’s decision to shut down, go here; for more on Lilly’s results, go here; to read more about Vertex’s stumbles, go here; and to learn more on Replimmune’s rejection, go here.

Be sure to sign up for “The Readout LOUD” on Apple Podcasts, Spotify, or wherever you get your podcasts.