Investors reevaluate this year’s obesity darling

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Good morning. Hope everyone takes it easy in what will be a long day today. Now let’s get into the biotech news.

The need-to-know this morning

• Syndax Pharmaceuticals raised $350 million by selling a royalty on sales of its approved medicine Niktimvo to Royalty Pharma.
• Vertex Pharmaceuticals said the first patient with sickle cell disease was treated with Casgevy, its CRISPR-based therapy, since the medicine was approved last December.
• Merus said the FDA decision date for zenocutuzumab, a drug to treat lung and pancreatic cancer caused by a specific genetic mutation, was delayed to Feb. 4 from December. The agency requested extra time to review new manufacturing information.

Patient dies in Beam trial of CRISPR sickle cell therapy

A patient with sickle cell disease died while participating in a clinical trial of a CRISPR-based treatment from Beam Therapeutics, the company said this morning.

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