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$LLY Omvoh (mirikizumab-mrkz) met its primary endpoint in the Phase 3 SHINE-2 trial for pediatric ulcerative colitis: 50% clinical remission at Week 52 among Week 12 responders.

$GSK Jemperli (dostarlimab) approved in US for MSI-H/dMMR locally advanced rectal cancer after registrational trial measuring no detectable signs of cancer at one year or more.

Germany's Merck buys Silence Therapeutics $SLN for $1.3 billion / $20 a share.

$EYPT DURAVYU Phase 3 LUCIA in wet age-related macular degeneration stopped for futility; non-inferiority on vision missed. No drug-related safety concerns. Headline vs data: “serious retinal diseases” vs the primary endpoint was missed

$IRON Bitopertin met its Phase 3 APOLLO co-primary endpoints in erythropoietic protoporphyria (EPP), reducing whole-blood PPIX by 41.4% vs placebo (p<0.0001) and increasing monthly time in light without pain by 12.2 hours (p=0.0010) in 183 patients.

$EYPT DURAVYU (wet AMD), Phase 3: missed its primary endpoint — 38% reduction in treatment burden (nominal p<0.0001); 52% of eyes supplement-free; 71% receiving zero or one supplement up to Week 56; strong anatomic control.

$GUTS closed -62.3% on the readout session (Oct 16) · XBI -3.6% · -58.7% relative.

$NVS Novartis stopped a Phase 2 trial of Fabhalta in lupus nephritis for strategic reasons.

$VTRS U.S. FDA approved RYZUMVI (phentolamine ophthalmic solution 0.75%) for presbyopia in Registrational studies.

$GUTS Revita met the six-month co-primary endpoint in the Phase 4 REMAIN-1 trial for post-GLP-1 weight maintenance, reducing weight regain after GLP-1 discontinuation: 5.1% vs 8.2% regain (mITT, p=0.0023).

The rule that stops you from chasing stocks. The XBI gives you another shot basically every year. @Sanctuary_Bio #biotech #stocks #investing

FOMO. Survivorship bias. Anchoring. People spend years staring at charts and never spend the ONE afternoon it takes to learn the biases that actually kill portfolios. @Sanctuary_Bio #biotech #behavioralfinance #investing

$IBRX FDA approved ANKTIVA (nogapendekin alfa inbakicept-pmln) for BCG-unresponsive non-muscle invasive bladder cancer, a Registrational approval.

His top 10 positions are 56% of the book, BREADTH does the real work. Wilson Cheung (@Sanctuary_Bio) on why evaluating MORE names beats falling in love with your picks. Full episode on The Biotech Investor YT Channel. #biotech #investing #portfolio

The sizing rule behind a +35% year: never lose more than 200 bps on a single position. Handle the downside. The upside takes care of itself. @Sanctuary_Bio #biotech #riskmanagement #investing

$PHAR leniolisib met its Phase 2 primary endpoint in 13 patients with genetic primary immunodeficiencies with immune dysregulation, measuring lymphoproliferation. Mean spleen volume reduction 26.4% (n=11). Safety manageable.

The XBI has taken a 20% drawdown every year for a decade (except 2017). He's up 35% in this one — and his plan for the rest of the year is to do nothing. Wilson Cheung (@Sanctuary_Bio) on surviving biotech corrections.