香港特区施政报告：吸引更多药企落户香港，进行罕见病药、高端肿瘤药及先进疗法制品等临床试验和治疗。成立“AI效能提升组”统筹和指导各政府部门有效应用AI，並研究重组不合时宜的工作流程。 ...

Core Insights - United Therapeutics Corporation will present clinical data from its commercial and development portfolio at the European Respiratory Society Congress in Amsterdam from September 27 to October 1, 2025 [1][2] Group 1: Clinical Studies and Presentations - The successful phase 3 TETON-2 study results of inhaled treprostinil for idiopathic pulmonary fibrosis will be highlighted in an oral presentation [1][2] - Additional analyses from the TETON-2 study and interim data from the ADVANCE EXTENSION study evaluating ralinepag for pulmonary arterial hypertension will also be presented [2] - The PHINDER study's interim findings, aimed at improving pulmonary hypertension detection in patients with interstitial lung disease, will be discussed [2] Group 2: Presentation Details - An oral presentation on the TETON Phase 3 Clinical Trials of inhaled treprostinil will take place on September 28, 2025, from 11:00 a.m. to 12:15 p.m. CET [3][4] - Poster sessions will include interim results from the PHINDER study and high-resolution computed tomography findings related to pulmonary hypertension [5][6][7] Group 3: Company Overview - United Therapeutics operates as a public benefit corporation, focusing on innovative pharmaceutical therapies and technologies to address unmet medical needs [8]

Women's Health Data & Research - Less than 10% of funding goes towards women's health research and development [5] - 50-75% of women are more likely to experience an adverse drug reaction as medications are still largely designed around a male physiology [9] - Only 4% of pharmaceutical pipelines focus on female-only conditions despite women making up over 50% of the population [9] - The National Institutes of Health (NIH) 'All of Us' study has gathered data from almost 1 million participants [14] Healthcare System & Data Sharing - The healthcare system has never fully accounted for women, leading to a critical lack of women's health data from clinical trials, medical records, and research studies [4][5] - Sharing health data empowers women, providing doctors with a deeper understanding of their health in real-time and potentially leading to treatments designed around a woman's unique biology [7][8][10] - De-identifying health data and combining it with data from other women ensures privacy while creating a powerful resource for tackling challenges in women's health [12][13] Call to Action - Individuals are encouraged to use telemedicine platforms or wearables designed with women in mind, join patient registries, and participate in clinical trials to advance women's health [20][21][23] - Despite the fact that health data is already being used and shared from various sources, there is still not enough high-quality women's health data [22][23]

Core Insights - Ocular Therapeutix is advancing its clinical trials for AXPAXLI, targeting wet age-related macular degeneration (AMD) with significant milestones expected in 2026 and 2027 [1][2][3] Clinical Trials and Development - SOL-1 trial is on track for topline data in Q1 2026, while SOL-R trial is expected to report topline data in H1 2027 [1][3] - A long-term extension study for both SOL trials is planned to follow patients after completion, aiming to gather additional safety and efficacy data [1][6] - SOL-R has streamlined rescue criteria to align with real-world clinical practices, enhancing its relevance and applicability [3][4] Financial Performance - As of June 30, 2025, the company reported a cash balance of $391.1 million, sufficient to support operations into 2028 [5][6] - Total net revenue for Q2 2025 was $13.5 million, an 18.1% decrease from $16.4 million in Q2 2024, attributed to a challenging reimbursement environment [7][8] - Research and development expenses increased to $51.1 million in Q2 2025, reflecting the costs associated with ongoing clinical trials [9] Strategic Initiatives - The company raised approximately $97 million in gross proceeds through an at-the-market facility in June 2025, enhancing financial flexibility [5][6] - An Investor Day is scheduled for September 30, 2025, to discuss the clinical strategy and commercial outlook for AXPAXLI [5][6] Market Context - Wet AMD affects approximately 14.5 million individuals globally, highlighting a significant market opportunity for innovative treatments like AXPAXLI [22] - Current therapies face challenges such as treatment burden and high patient discontinuation rates, indicating a need for more sustainable treatment options [22]

Summary of China Pharma and Biotech Sector Conference Call Industry Overview - The Chinese pharmaceutical and biotech sector is experiencing a significant rally, with the Hang Seng Biotech and MSCI China Healthcare indices showing year-to-date (YTD) returns of 57% and 38%, respectively, outperforming broader market indices which are at 16-20% [1][10][26] - Public financing has increased fourfold in the first half of 2025 compared to the same period in 2024, driving IPO activity on the Hong Kong Stock Exchange, particularly in biotech [1][40] - Despite the rally, valuations have sharply re-rated, with China's biotech price-to-sales multiples now aligning with global peers, suggesting limited further upside compared to the peaks of 2020-2021 [1][11] Key Growth Drivers - Oncology and metabolic diseases are identified as primary growth drivers, with significant market potential in PD-1-based bispecific antibodies and GLP-1 drug classes [3][4] - The global market for PD-1-based bispecific antibodies could reach US$70-80 billion, while the domestic GLP-1 market is projected to hit CNY87 billion by 2035 [3] - Chinese companies are competitive in clinical results, particularly in lung cancer treatments, and domestic GLP-1 drugs are matching international efficacy [3][4] Company Highlights - **Akeso**: Leading in PD-1/VEGF bispecific antibodies with multiple phase 3 trials; however, overall survival results remain uncertain [4] - **Innovent**: Offers a diversified portfolio across various disease areas and leads in advanced antibody modalities [4] - **Hansoh**: Transitioning to innovation-driven growth with strong sales in its 3rd-generation EGFR inhibitor and significant GLP-1 business development deals [4] R&D and Innovation - The sector is shifting from me-too drugs to best-in-class and first-in-class assets, focusing on novel targets and drug combinations [2][38] - Clinical trial activity is robust, with Chinese assets comprising over 50% of new global trials in 2025 [2][42] - The number of new clinical trials has shown stable growth, with a notable increase in innovative drug approvals [42][65] Policy Environment - Government policies have fluctuated but are currently favorable, balancing innovation stimulation with price control [2][43] - Recent supportive policies include initiatives to cover innovative drugs under commercial insurance, indicating a long-term positive outlook for the sector [43] Out-Licensing Trends - Out-licensing activity has surged in 2025, with total deal value reaching US$59 billion, surpassing the previous year's total [72] - The focus has shifted from PD-1 drugs to PD-1/VEGF and GLP-1 assets, with significant deal values and upfront payments [75][72] - Despite the increase in total deal value, upfront payments in China still lag behind developed markets, indicating a need for caution regarding the sustainability of this growth [73][81] Investment Implications - Companies such as Akeso, Hansoh, Innovent, and Hengrui are rated as Outperform, while BeiGene, CSPC, Sino Biopharm, and Zai Lab are rated as Market-Perform [7] - The current rally may require new catalysts beyond existing out-licensing deals to sustain momentum, as valuation headroom appears limited [5][22] Conclusion - The Chinese pharma and biotech sector is evolving into a mature, innovation-driven industry with growing global competitiveness, tempered by valuation caution and sector uncertainties [5][11]

As filed with the Securities and Exchange Commission on July 30, 2025. Registration No. 333-288911 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CYCLACEL PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 93-2403210 (I.R.S. Employer Identification Number) Level 10, Tower 11, Avenue 5, The Horizon Bangsa ...

Core Insights - Alkermes plc reported earnings from continuing operations of 52 cents per share for Q2 2025, surpassing the Zacks Consensus Estimate of 41 cents and slightly down from 53 cents in the same quarter last year [1] - Total revenues for the second quarter were $390.7 million, a decrease of 2.1% year-over-year, primarily due to lower manufacturing and royalty revenues, but still exceeding the Zacks Consensus Estimate of $339 million [1][6] Financial Performance - Proprietary product sales increased by 14% year-over-year to $307.2 million, driven by strong demand for Vivitrol, Aristada, and Lybalvi, exceeding management's expectations of $260-$280 million [4][6] - Manufacturing and royalty revenues fell by 35.8% year-over-year to $83.4 million, negatively impacting overall revenue performance [6][8] - Research and development expenses rose by nearly 30% year-over-year to $77.4 million, attributed to higher costs related to ongoing studies for the investigational pipeline candidate, alixorexton [9] Product Sales Breakdown - Vivitrol sales grew by 9% year-over-year to $121.7 million, surpassing the Zacks Consensus Estimate of $111 million [7] - Aristada sales increased by 18% year-over-year to $101.3 million, exceeding the Zacks Consensus Estimate of $84 million [7] - Lybalvi generated sales of $84.3 million, up 18% year-over-year, also beating the Zacks Consensus Estimate of $79 million [8] Guidance and Future Outlook - Alkermes reiterated its 2025 financial guidance, expecting total revenues between $1.34 billion and $1.43 billion, with specific net sales targets for Vivitrol, Aristada, and Lybalvi [11] - The company is planning to initiate a global phase III program for alixorexton in patients with narcolepsy type 1 following positive results from the phase II Vibrance-1 study [12][14] Pipeline Development - The phase II Vibrance-1 study showed statistically significant improvements in wakefulness for patients treated with alixorexton compared to placebo [13] - Alixorexton is also being studied for narcolepsy type 2 and idiopathic hypersomnia, with data from the Vibrance-2 study expected in the fall [15][16]

Core Insights - MediciNova, Inc. is nearing completion of patient randomization in its Phase 2/3 COMBAT-ALS trial, with only single-digit enrollment remaining [2][3] - The company is also seeking the final two patients for its Phase 2 trial targeting dyslipidemia and fatty liver disease in type 2 diabetes patients [2][3] - The COMBAT-ALS program has generated significant interest within the ALS community, and the company is preparing for regulatory discussions with the FDA, expecting top-line data by the end of next year [3] MediciNova's Development Programs - MN-166 (ibudilast) is in late-stage clinical development for neurodegenerative diseases, including ALS, and has received Orphan Drug Designation and Fast Track Designation from the FDA [4] - MN-001 (tipelukast) is being developed for fibrotic and metabolic disorders, showing promise in down-regulating genes that promote fibrosis and inflammation [5] - The company focuses on addressing unmet medical needs in difficult-to-treat conditions through its development activities [6] Funding and Strategic Development - MediciNova's strategy includes advancing its pipeline through various funding sources, including investigator-sponsored trials, government grants, and strategic alliances [7]

Rural Healthcare Challenges - Rural cancer patients face later diagnoses, increased uninsurance/underinsurance, and worse outcomes due to their location [8] - The "rural cancer gap" shows widening mortality rate disparities between rural and urban areas since 1999 [8] - Nearly 20% of Americans live in rural areas, but only 3% of oncologists practice there [9] - Kansas rural provider to patient ratio exceeds 500 to 1, compared to urban areas closer to 80 to 1 [12] - 140 hospitals have closed in the past 10 years, with a projection of 600 more at imminent risk [13] - Cancer care accounts for 30-40% of hospital revenue nationwide, but is increasingly diverted to urban centers [13][14] - Hospitals are closing at a rate of two per month [15] - Only 2% of clinical trials are offered in rural areas, creating "clinical trial deserts" [15] Proposed Solutions - Expand Medicaid, support rural providers with loan forgiveness and flexible training, and decentralize clinical trials via mobile units and telemedicine [17] - Change the narrative around rural cancer patients and value them [18] - Implement technology innovation, such as hub and spoke models and empowering community navigators with technology [19] - The rural oncology home model partners patients with local providers and leverages telehealth to access specialized oncologists [20]

Core Insights - NeOnc Technologies Holdings, Inc. has signed a non-binding term sheet with Quazar Investment to establish a new investment and clinical platform in the MENA region [1][2] - The partnership aims to leverage the UAE's clinical trial infrastructure to advance NeOnc's late-stage drug candidates [3][7] Investment and Structure - The term sheet outlines the formation of NuroMENA Holdings Ltd, which will oversee the establishment of NuroCure, an Abu Dhabi-based subsidiary responsible for clinical trials [2][5] - A proposed equity investment of $50 million is contingent upon NeOnc meeting specific conditions within 120 days [4][8] Clinical Development - NuroCure will initiate clinical trials for NEO100 and NEO212, targeting aggressive brain cancers such as Diffuse Intrinsic Pontine Glioma and glioblastoma multiforme [7][9] - The partnership is positioned to enhance NeOnc's clinical programs through collaboration with Cleveland Clinic Abu Dhabi [3][10] Financial Strategy - Quazar will lead a capital formation round of up to $50 million, with 70% allocated for acquiring NeOnc common stock and 30% for clinical trial and infrastructure development [8][10] - The investment strategy includes executing a Sub-License Agreement for NEO100 and NEO212, facilitating clinical efforts in the region [5][11] Company Background - NeOnc Technologies is focused on developing therapeutics for central nervous system cancers, with a robust patent portfolio extending to 2038 [11] - The company's drug candidates, NEO100 and NEO212, are currently in Phase II clinical trials under FDA Fast-Track status [11]