News
The day at a glance · 5 min read
Mood · Mixed
+25
Sentiment, −100 to +100
Moderna close
$194.82+6.98%
Moderna analyst target
$120-39% vs close
Acadia session move
-19%-19%
Key driverModerna's rally on upcoming Phase 3 melanoma data and Eli Lilly's FDA approval for weekly insulin offset by Acadia's Phase 2 failure in Alzheimer's psychosis
Daily briefHealthcare· Money365.Market AI ·

Moderna Surges on Oncology Optimism; Lilly Approved

MRNA climbs on ESMO melanoma data expectations; Eli Lilly wins FDA nod for once-weekly insulin; Acadia tumbles on Phase 2 miss

Big Pharma & Biotech

Neutral

ADARx IPO

$446M
MRNAPFEBNTXJNJBMY
Moderna Inc (MRNA) has rallied with shares closing at $194.82 following a 6.98% gain, driven by investor optimism ahead of Phase 3 melanoma data for intismeran autogene due to be presented at the ESMO conference on October 24. The company also announced it is exploring investment opportunities in the Middle East, reaching a four-year high of $195.71 during intraday trading. Analyst sentiment remains divided, with 23 analysts covering the stock split into 4 buys, 1 outperform, 16 holds, 1 underperform, and 1 sell, and a mean target of $120 sitting 39% below the recent close.
Pfizer Inc (PFE) and BioNTech SE (BNTX) have received FDA approval for their 2026–2027 COVID-19 vaccine formula COMIRNATY XFG, which targets the XFG variant and is authorized for adults aged 65 and older as well as individuals aged 5 to 64 with certain conditions. Pfizer is also focusing more of its research pipeline on therapies eligible for FDA Breakthrough Therapy and orphan drug status, as the FDA has widened use of Breakthrough Therapy designations in areas such as oncology, which can shorten review and approval timelines.
Johnson & Johnson (JNJ) reported positive overall-survival data from the final analysis of the Phase 3 PAPILLON study for RYBREVANT plus chemotherapy in first-line EGFR-mutated advanced lung cancer, strengthening clinical evidence for the already-approved drug across multiple settings. However, the company also disclosed that JNJ-5120/PIPE-307, a drug developed by Contineum Therapeutics Inc (CTNM) and licensed to J&J, failed to demonstrate required efficacy in a Phase 2 trial for depression, missing its primary endpoint.
Bristol Myers Squibb (BMY) has selected Onco360 to join the restricted specialty pharmacy network for ZENBEXUS (iberdomide), a newly approved therapy for certain multiple myeloma patients to be dispensed through a Risk Evaluation and Mitigation Strategy program. Onco360 will handle specialty dispensing and clinical support for eligible patients as ZENBEXUS enters commercial rollout.
Acadia Pharmaceuticals (ACAD) shares fell 19% after its Phase 2 trial of remlifanserin for hallucinations and delusions associated with Alzheimer's disease psychosis narrowly missed its main goal. The company's stock, which has traded in a 52-week range of $20 to $31, faces investor uncertainty over whether remlifanserin still has a credible path forward, with a valuation model target price of $34 implying 54% upside.
RNAi drug specialist ADARx has completed a $446M IPO, marking the only RNA-based drug maker to go public since 2024 and the first RNAi biotech to price a U.S. IPO in more than a decade.
REGENXBIO Inc (RGNX) presented positive three-year durability data from the Phase II ALTITUDE study of investigational surabgene lomparvovec in diabetic retinopathy using suprachoroidal delivery at the Retina Society 59th Annual Scientific Meeting.

FDA & Regulation

Bullish

Eli Lilly gain

+3.1%+3.1%
LLY
Eli Lilly (LLY) shares gained 3.1% after the FDA approved once-weekly basal insulin Onswik (insulin efsitora alfa-gobe) for adults with type 2 diabetes, offering patients an alternative to daily long-acting insulin shots and potentially reducing the number of injections required. The approval, which involves use with diet and exercise to help control high blood sugar, marks an expansion in the company's insulin portfolio addressing patient convenience.

MedTech & Devices

Neutral

DexCom price

$87.47-36.0% 5-yr
DXCM
DexCom Inc (DXCM) shares, currently at $87.47, have declined 36.0% over the past five years, prompting investors to assess whether the price is adequately supported by future cash flow generation. The company recently expanded Jereme Sylvain's remit to Chief Operating Officer as well as his existing role, a move analysts are watching in the context of the stock's uneven performance trajectory.

Healthcare IT & Software

Bullish
AMGN
Veeva Systems (VEEV) has rolled out new AI-powered tools including Veeva Study Builder Agent and Veeva Falcon Router, while announcing major customer wins such as Oxford Biomedica adopting Veeva Quality Cloud and Amgen Inc (AMGN) planning a global deployment of Veeva Vault CRM. These developments highlight Veeva's strategy to embed agentic AI across clinical, safety, quality, and commercial workflows, reinforcing its positioning as an end-to-end software partner for life sciences companies.

M&A & Corporate Development

Neutral

DePuy Synthes valuation

~$20B
JNJ
Johnson & Johnson (JNJ) is in discussions with Apollo Global Management Inc (APO) for a potential transaction involving the orthopedics business DePuy Synthes, valued at close to $20 billion according to Bloomberg. The unit, which J&J previously announced plans to separate within an 18-to-24-month timeframe, generated $9.3 billion in revenue, and the transaction could open a new healthcare growth avenue for Apollo in the medical device sector.

Managed Care & Payers

Neutral
UNH
UnitedHealth Group (UNH) announced that Jodee Kozlak joined as chief administrative officer, a new role overseeing People, Real Estate, Procurement, and Corporate Security to support enterprise modernization and alignment across the business. Kozlak's background leading global expansion at Alibaba, human resources at Target, and board roles at C.H. Robinson Worldwide and KB Home suggests UnitedHealth is placing greater emphasis on organizational efficiency and large-scale transformation initiatives.

Looking Ahead

Neutral
MRNAMRK
Investors are focused on Moderna Inc (MRNA) Phase 3 melanoma data due at the ESMO conference on October 24, which has already driven the stock to a four-year high and will serve as a critical test of the company's oncology franchise repricing.
Merck & Co (MRK) is also drawing investor attention following a private meeting with the drugmaker's top doctor, which Bank of America characterized as pointing to the next make-or-break moment for shareholders. Clinical trial readouts and regulatory decisions continue to drive valuation volatility across the biotech sector, with failed Phase 2 programs such as Acadia's remlifanserin demonstrating the risks inherent in early-stage development.

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