BioMed Nexus Daily Updates

Your essential biotech, medtech, and pharma recap — no noise, just what matters.

🌅 Pre-Market Download

The "Risk-On" switch has been flipped. With just 5 days until the J.P. Morgan Healthcare Conference, the XBI surged +1.6% yesterday, closing at $122.09. The sector is now outperforming the S&P 500, driven by a perfect storm of M&A (Amgen) and clinical wins (Alumis).

  • The Rocket: Alumis (ALMS) stunned the market with Phase 3 psoriasis data that rivals biologics, sending shares up +95%. They immediately announced a $175M offering to capitalize on the momentum.

  • The Deal: Amgen (AMGN) is acquiring UK-based Dark Blue Therapeutics in a deal valued up to $840M. This is a play on targeted protein degraders for AML, confirming that degradation is the hottest M&A theme of 2026.

  • The Pivot: Eli Lilly (LLY) expanded its pact with Nimbus Therapeutics in a $1.3B deal to develop a next-gen oral obesity drug. The race to replace injections is officially on.

🚀 Top Stories

1. Alumis (ALMS) "Cracks the Code" on TYK2: The holy grail of immunology is an oral pill that works as well as an injection. Yesterday, Alumis claimed they found it.

  • The Data: Their drug, envudeucitinib, hit a PASI 75 score of 74% in Phase 3 trials.

  • The Context: This matches the efficacy of biologics and potentially beats BMS’s Sotyktu.

  • The Trade: The stock nearly doubled to $16.23. The immediate $175M capital raise is a smart move to fund their NDA, but expect volatility as the new shares hit the market today.

    👉 Read More

2. Amgen’s "Degrader" Gamble (Up to $840M) Amgen isn't waiting for JPM to start shopping. By acquiring Dark Blue Therapeutics, they gain a preclinical targeted protein degrader platform targeting MLLT1 and MLLT3 for acute myeloid leukemia (AML).

  • Why it Matters: Traditional inhibitors struggle with these targets. Degraders remove the protein entirely. While Amgen uses the formal term "degrader," the market views this as a direct read-through to the "molecular glue" space, putting competitors like Monte Rosa (GLUE) and Kymera (KYMR) in play. 👉 Read More

3. Bright Minds (DRUG) Wakes Up the CNS Sector Bright Minds Biosciences surged +16% to around $93 after reporting a 73% reduction in seizures for its drug BMB-101.

  • The Surprise: The drug also increased REM sleep by 90%. This dual-benefit profile (seizure control + cognitive restoration) is rare and makes them a prime licensing target for a larger neurology player. 👉 Read More

📊 Market Snapshot (Jan 6 Closing Data)

Ticker

Price

Change

Catalyst

ALMS

$16.23

+95.3%

Positive Phase 3 Psoriasis Data

AMGN

$330.17

+2.9%

Acquires Dark Blue (Up to $840M)

DRUG

~$93.00

+16.0%

Phase 2 Seizure Data (73% reduction)

ZBIO

$15.20

-8.5%

Continued "Sell the News" fade after Ph3 win

⚡ Strategic Pulse: The "Oral Obesity" Race

  • Lilly x Nimbus: The $1.3B deal signed yesterday isn't just about weight loss; it's about convenience. Lilly is hedging its bets against its own injectable (Zepbound) by securing Nimbus's isoform-selective technology. 👉 Read More

  • Roche x Structure: Not to be outdone, Roche committed $100M to Structure Therapeutics (GPCR) yesterday to clear up patent/legal concerns. This removes a major overhang for Structure and clears the runway for a partnership. 👉 Read More

  • Arrowhead (ARWR): Quietly released early gene-silencing data showing fat reduction. It’s early, but if RNAi works for weight loss, it offers a "once-a-year" dosing schedule that pills can't match. 👉 Read More

❝

🔓 SPECIAL UNLOCK: The Conference "Double Header"

While the bankers head to JPM next week, the clinicians are descending on San Francisco this Thursday for ASCO GI. Here is your playbook for both events.

🗺️ The JPM Guard (Deal Watch)

We are holding our "Top 3" JPM conviction picks steady through the volatility.

  • The List: Viking (VKTX), Sarepta (SRPT), and Axsome (AXSM) remain our primary vehicles for JPM news flow. (Refer to Yesterday’s issue for the full thesis). 👉 Read More

🔬 The ASCO GI Guard (Data Watch)

The ASCO Gastrointestinal Cancers Symposium kicks off Jan 8-10. This is where the real clinical alpha will be generated this week.

  1. Zymeworks / Jazz (ZYME/JAZZ): The Survival Signal

    • The Event: Jazz Pharmaceuticals (partnered with Zymeworks) presents Late-Breaking Abstract #LBA285 (Thursday Morning, Jan 8).

    • The Rumor: Data for Ziihera (zanidatamab) in 1L HER2+ GEA cancer is expected to show a meaningful overall survival (OS) signal. Zymeworks engineered the molecule, so ZYME stock remains the high-beta way to trade this data.

  2. Astellas (ALPMY): The Targeted Degrader

    • The Event: Presentation on ASP3082 (KRAS G12D degrader).

    • The Setup: If this degrader shows safety in pancreatic cancer, it validates the "Amgen Thesis" (see above) that degraders are the future of difficult targets.

👉 Read More

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