Company Overview - Rapport Therapeutics is a clinical-stage biotechnology company focused on developing small molecule medicines for central nervous system (CNS) disorders, aiming to address significant unmet needs in neurology and psychiatry [1][2] - The company has a focused portfolio and proprietary research to establish a competitive edge in the CNS therapeutics market [1] Product Pipeline - The lead candidate is RAP-219, targeting focal epilepsy and other CNS indications, with additional programs addressing chronic pain and hearing disorders [3] - Positive results from a phase 2a clinical trial for RAP-219 were reported in September 2025, leading to a share price increase [8] Financial Performance - Rapport Therapeutics reported a net loss of $26.9 million in Q3 2025, but held cash, cash equivalents, and short-term investments totaling $513 million, expected to sustain operations into the second half of 2029 [8] - As of November 14, 2025, shares were priced at $24.37, reflecting a 10.87% increase over the past year, although underperforming the S&P 500 by 1.0 percentage points [3] Investment Activity - Cormorant Asset Management increased its holding in Rapport Therapeutics by purchasing an additional 251,600 shares, raising its total position to 3,192,521 shares valued at $94.82 million [5][6] - This purchase increased Cormorant's stake by approximately $61.38 million, representing 6.54% of its assets under management [4][5]

Company Overview - Amylyx Pharmaceuticals is a clinical-stage biotechnology company focused on developing treatments for amyotrophic lateral sclerosis (ALS) and related neurodegenerative diseases [5][8] - As of the latest market close, the share price is $13.67, with a market capitalization of $1.5 billion and a net income of -$149.3 million over the trailing twelve months (TTM) [4][5] Investment Activity - Saturn V Capital Management increased its stake in Amylyx Pharmaceuticals by 1.3 million shares during the third quarter, raising the position's value to $62.6 million as of September 30 [2][10] - Amylyx now constitutes approximately 13.7% of Saturn V's reportable assets under management (AUM), making it the second-largest holding in the fund's portfolio [3][10] Performance Metrics - Amylyx's stock has surged 166% over the past year, significantly outperforming the S&P 500, which has risen 12% in the same timeframe [3] - The company completed a $191 million equity raise in September, which supports its ongoing clinical programs [9] Development Pipeline - Amylyx is advancing several clinical programs, including the pivotal Phase 3 LUCIDITY trial of avexitide, with recruitment expected to finish in the first quarter and topline results anticipated in the third quarter [9] - Early Phase 1 LUMINA data for AMX0114 in ALS indicated that the therapy was generally well tolerated, allowing for dose escalation without serious adverse events [9]

Core Insights - MPM BioImpact fully divested its position in MoonLake Immunotherapeutics, selling 313,571 shares and reducing exposure by approximately $14.8 million, which previously constituted 2.6% of its assets under management [2][7] - MoonLake's stock experienced a dramatic decline of nearly 90% in a single day due to mixed Phase 3 trial results for its investigational therapy, sonelokimab, leading to a class-action lawsuit and significant market value loss [6][9] - As of the latest market close, MoonLake's shares were priced at $13.80, reflecting a 74% decrease from the previous year, while the S&P 500 index increased by 13% during the same period [3][4] Company Overview - MoonLake Immunotherapeutics is a Switzerland-based clinical-stage biotechnology company focused on developing sonelokimab, a Nanobody therapy aimed at treating inflammatory diseases such as hidradenitis suppurativa, psoriatic arthritis, and axial spondyloarthritis [5] - The company operates a clinical-stage biopharmaceutical model, investing in research and development to advance its pipeline through clinical trials, with future revenue dependent on successful product commercialization and regulatory approval [5] Financial Metrics - As of the latest report, MoonLake's market capitalization stands at $977.7 million, with a net income of -$210.5 million over the trailing twelve months [4] - The company reported $380.5 million in cash, projecting a financial runway into the second half of 2027, and is preparing for a crucial FDA meeting on December 15 to evaluate its evidence package for sonelokimab [8]

Core Viewpoint - Inventiva is a clinical-stage biopharmaceutical company focused on developing oral therapies for metabolic dysfunction-associated steatohepatitis (MASH) and is advancing its Phase 3 clinical trial for MASH, which is crucial for its mission to provide therapeutic solutions for patients [1] Financial Performance - On September 25, 2025, Inventiva reported an earnings per share (EPS) of -$0.64, which was below the estimated EPS of -$0.41, while generating revenue of approximately $5.24 million, slightly surpassing estimates [2][6] - The company has secured a €116 million tranche of structured financing, enhancing its financial position with cash and cash equivalents totaling €146.7 million as of June 30, 2025, ensuring a cash runway until the end of the third quarter of 2026 [3][6] Financial Metrics - Inventiva's financial metrics indicate a challenging environment, with a price-to-earnings (P/E) ratio of approximately -1.46, reflecting negative earnings, and a price-to-sales ratio of about 33.51, indicating that investors are paying $33.51 for every dollar of sales [4][6] - The enterprise value to sales ratio is approximately 28.92, showing the company's valuation relative to its sales [4] - The debt-to-equity ratio is about -0.51, indicating more liabilities than equity, and the current ratio of approximately 0.92 suggests potential difficulty in covering short-term liabilities with short-term assets [5][6]

Core Viewpoint - Altimmune, Inc. has appointed Jerry Durso as Chairman of the Board, succeeding Mitchel Sayare, as the company prepares for Phase 3 development of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH) [1][2][3] Group 1: Leadership Transition - The leadership change is part of the Board's succession planning and aligns with the company's advancement into Phase 3 development of pemvidutide [2] - Jerry Durso has over 30 years of leadership experience in the life sciences industry, with expertise in corporate and commercial strategy [3] - Mitchel Sayare will continue to serve on the Board as an Independent Director after his tenure as Chairman [1][3] Group 2: Pemvidutide Development - Altimmune's lead program, pemvidutide, is a GLP-1/glucagon dual receptor agonist aimed at treating MASH, Alcohol Use Disorder (AUD), Alcohol-Associated Liver Disease (ALD), and obesity [4] - The company expects to hold an End-of-Phase 2 Meeting with the FDA for MASH in the fourth quarter of 2025 [2] Group 3: Company Background - Altimmune is a late clinical-stage biopharmaceutical company focused on developing novel peptide-based therapeutics for liver and cardiometabolic diseases [4]

As filed with the Securities and Exchange Commission on December 1, 2023 Registration No. 333-275056 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 CONDUIT PHARMACEUTICALS INC. (Exact name of Registrant as specified in its charter) | | | (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 4995 ...