NextCure shares surged more than 200% on Tuesday after the company announced a definitive all-stock merger agreement with privately held Avere Therapeutics. The combined company will operate as Avere Therapeutics and trade on Nasdaq under the ticker AVRX, with the deal expected to close in the second half of 2026. Avere's lead program, AVR-001, is an oral IL-23 receptor antagonist with Phase 1b psoriasis data, and a Phase 2b study is set to begin in early 2027. Other notable biotech gainers included Basel Medical Group, which rose over 26% after regaining Nasdaq compliance, and Outlook Therapeutics, up more than 11% ahead of a July 29 FDA decision on its wet AMD treatment ONS-5010.
AbbVie Presents 22 IBD Abstracts at ACG 2026, Including New SKYRIZI and RINVOQ Data
AbbVie announced the presentation of 22 scientific abstracts from its inflammatory bowel disease portfolio at the American College of Gastroenterology 2026 Annual Scientific Meeting in Nashville, Tennessee, held Oct. 9-14. Newly unveiled Phase 3 AFFIRM results showed subcutaneous SKYRIZI, or risankizumab-rzaa, achieved significantly higher rates of clinical remission and endoscopic response versus placebo at Week 12 in advanced therapy-naive Crohn's disease patients, with all endpoints remaining numerically higher through Week 24 among clinical responders. An anchored matching-adjusted indirect comparison found subcutaneous risankizumab achieved significantly higher rates of endoscopic response versus guselkumab during induction in patients with moderately to severely active Crohn's disease. In the Phase 3 FORTIFY open-label extension, 74.5% of patients with fistulizing Crohn's disease achieved no draining fistulas after five years of risankizumab treatment, while the SEQUENCE open-label extension demonstrated durable clinical and endoscopic efficacy through 148 weeks in patients with moderately to severely active Crohn's disease following anti-TNF failure. Real-world data from the Veterans Affairs health system showed 93.3% of patients with fistulizing disease and 76.9% of patients with stricturing disease who remained on treatment achieved clinical remission and corticosteroid-free remission with RINVOQ, or upadacitinib, and Department of Defense data showed that at six months 57% of patients with isolated ileal Crohn's disease achieved clinical remission, 58% achieved endoscopic response and 53.6% achieved endoscopic remission.
Roche's vamikibart shows one-year vision gains in uveitic macular edema as FDA accepts BLA
Roche announced new one-year data from the Phase III MEERKAT and SANDCAT studies showing that investigational vamikibart sustained improvements in vision and reductions in macular thickness in adults with uveitic macular edema at 52 weeks compared with a sham procedure. The results were presented at the American Academy of Ophthalmology 2026 Annual Meeting in New Orleans. The FDA has accepted Roche's Biologics License Application for vamikibart for the treatment of UME, with an approval decision expected by July 2027; if approved, vamikibart would be the first non-steroid targeted treatment for UME. Regulatory submissions have also been filed and accepted in the European Union, China and Japan. In both trials, a numerically higher proportion of vamikibart-treated patients achieved vision gains than those on sham treatment on the primary endpoint, and key secondary endpoints showed sustained improvements in best corrected visual acuity and central subfield thickness. Vamikibart was well tolerated with a low incidence of treatment-related ocular adverse events and intraocular inflammation events, and approximately two-thirds of eligible patients required no retreatment after 16 weeks.
argenx Halts Phase 3 Sjögren's Trial, Reports FB102 Celiac Data
argenx halted its Phase 3 Sjögren's trial for futility while reporting encouraging data for FB102 in celiac disease, a mixed pipeline update that reshapes expectations for the company's future earnings. The news comes after argenx delivered a share price gain of 185.3% over the past 5 years. On valuation, argenx trades at about 29.7x earnings, above the broader biotech industry average of roughly 25.0x but below the peer group average of about 36.3x. The halted Sjögren's trial removes one potential earnings stream, while the FB102 celiac data points to a different route to future profits, leaving investors to weigh near-term pipeline risk against an already established earnings base. Community views on argenx are split, with a bull case putting the stock 43% undervalued and a bear case putting it 6% overvalued.
Eli Lilly-backed TRex Bio closes flat at $14 after IPO
TRex Bio, an Eli Lilly-backed developer of immunoregulatory medicines targeting tissue regulatory T-cell biology, closed its first day of trading Friday at its IPO price of $14. Shares opened at $13.50 and traded mostly below $14 throughout the day, though they briefly shot up to $15.50 right before the market close. In after-hours trading, the share price stood at $14.52. The company had priced its $117M U.S. IPO at $14 per share, after earlier targeting up to $133M.
Biotech & Genomic Medicine › Autoimmune & Immunology Therapeutics Capital
TRex Bio, Inc. · Capital · Neutral TRex Bio closed flat at its $14 IPO price after pricing a $117M U.S. IPO, a capital-markets event with no clear directional signal.
Johnson & Johnson Icotyde Shows Two-Year Skin Clearance in Phase 3 Psoriasis Data
Johnson & Johnson said new long-term phase 3 data show its oral drug Icotyde, also known as icotrokinra, maintained high levels of skin clearance in plaque psoriasis patients after more than two years of treatment. In the placebo-controlled ICONIC-LEAD study, at least 72% of patients on the oral IL-23 receptor agonist achieved a Psoriasis Area and Severity Index score of 90, and at least 70% achieved clear or almost clear skin on the Investigator's Global Assessment 0/1 scale, from week 64 through week 112. Complete skin clearance also continued over that period, with at least 44% of Icotyde patients reaching PASI 100 and at least 46% achieving IGA 0, meaning clear skin. Improvements in itch were also seen from week 64 through week 112.
Eli Lilly's Taltz Plus Zepbound Shows Added Psoriasis and Metabolic Benefit in Phase 3b Trial
An exploratory analysis of Eli Lilly's ongoing phase 3b TOGETHER-PsO trial indicates that combining Taltz, or ixekizumab, with Zepbound, or tirzepatide, may improve both psoriasis and metabolic outcomes compared with Taltz alone. The trial enrolled patients with moderate-to-severe plaque psoriasis who were obese or overweight and who had at least one additional weight-related comorbid condition, randomizing them to receive Taltz plus Zepbound or Taltz alone. At week 36, participants who took the two treatments together saw better changes in psoriasis-specific, immune, and metabolic biomarkers than those in the Taltz monotherapy group, with changes noted in more psoriasis disease-associated and metabolic biomarkers. The trial's primary endpoint is the proportion of participants achieving both Psoriasis Area and Severity Index 100 and at least 10% weight reduction at week 36. Lilly noted that in the US, approximately 61% of individuals with psoriasis also have obesity or are overweight with at least one weight-related comorbidity.