Being the Chinese biotech’s backbone asset in the autoimmune disease area, telitacicept, a BlyS/APRIL dual targeting fusion protein, has hit its target in a China-only Phase III study in generalized myasthenia gravis. The candidate is also being investigated in global Phase III trials in systemic lupus erythematosus and Sjögren's syndrome.

A stacked user fee goal lineup sets the stage for market showdowns in primary biliary cholangitis and IgA nephropathy, the first psychedelic approval decision, and lots of targeted cancer therapies.

A few hiccups aside, Tarpeyo is on track in the US, but major competition from Novartis is just round the corner.

The top 10 biggest share price winners and losers in Q1 from Evaluate show the investor frenzy for obesity drugs continues, while companies with governance doubts see shareholders retreat.