The jury is out on whether regulators have seen enough to approve pelabresib.

Public Company Edition: CARGO Therapeutics grossed $281.3m, giving it the fifth-largest biopharma IPO this year. Also, Alkermes completed its cancer business spinout as Mural Oncology, which launched with $275m, and Xencor sold Ultomiris and Monjuvi royalties for $215m.

Private Company Edition: Revelation Partners amassed $608m, Bioluminescence Ventures emerged with $477m and Abingworth raised $356m for late-stage programs. In recent financings, MapLight closed a $225m series C round while Triveni launched with $92m and Gate garnered $60m in series A rounds.

Endo’s Par has moved on the first FDA-approved generic version of Hikma’s Mitigare prevention of gout flares – weeks after another ANDA sponsor, Micro Labs, sought to clear its own path to market via a lawsuit.