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Industry Daily Summary

Industry Daily Summary: What Happened on November 7, 2026

Agios cuts R&D staff as FDA delays mitapivat decision

Armada and Brains Bioceutical agreed to a $750 million combination. Lilly also added Hims & Hers as a channel for its obesity drugs.

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Covers November 6 and November 7. There was no summary on November 6.

Today in brief

Agios is cutting more than 35% of its R&D workforce as it turns toward commercial operations, and the FDA delayed its mitapivat decision in sickle cell disease until February 1, 2027.1 Armada Acquisition and Brains Bioceutical agreed to combine in a deal valuing Brains at about $750 million, with the combined company expected to list on Nasdaq in 2027.2

Lilly and Hims & Hers will offer eligible patients Zepbound and Foundayo through the digital platform at Lilly's self-pay prices.3

Agios cuts more than a third of R&D workforce as FDA delays mitapivat decision

Agios is cutting more than 35% of its research and development workforce, or over 100 employees, as it shifts resources toward commercial operations and later-stage programs.1 The company expects about $11 million in restructuring costs this year and savings in 2027.1

The FDA moved its target decision on mitapivat for sickle cell disease from November 1 to February 1, 2027, after requesting more information about a possible safety protocol.1 Agios said the FDA is assessing whether the treatment needs a risk evaluation and mitigation strategy, or REMS, and treated the company's response as a major application amendment.1 Mitapivat is already approved for pyruvate kinase deficiency and thalassemia. Those products generated $55.4 million in global sales in the third quarter, up 24% from the previous quarter.1

Agios now projects adjusted profitability in 2028 and reported $907 million in cash and marketable securities as of September 30.1

Armada and Brains agree to combine in a $750 million deal

Armada Acquisition and Brains Bioceutical signed a definitive agreement to combine, assigning Brains a pre-transaction value of about $750 million.2 After closing, the combined company is expected to take the name Brains Therapeutics and list common shares on Nasdaq under the ticker BAPI.2

The deal requires regulatory clearances, registration statements and shareholder approval from both companies. It is scheduled to close in the second quarter of 2027.2 Brains makes pharmaceutical ingredients and develops therapies. Its subsidiary BSPG Laboratories operates an EU-GMP production site.2 Its clinical pipeline includes an oral epilepsy capsule, an early sleep-disorder program and an extended-release methazolamide formulation for glaucoma.2

Lilly adds Hims & Hers as a channel for Zepbound and Foundayo

Lilly and Hims & Hers agreed on November 6 to offer Zepbound and Foundayo through the platform to eligible patients with prescriptions from its providers.3 Patients can use Lilly's self-pay prices without leaving the platform, which handles consultations, prescriptions and home delivery.3

Starting self-pay prices are $299 per month for Zepbound and $149 per month for Foundayo.3 The companies said Hims & Hers providers will retain independent clinical judgment and that the platform will not offer compounded copies of Lilly's GLP-1 medicines.3 Hims & Hers withdrew a compounded semaglutide pill two days after launch, amid legal pressure from Novo Nordisk and FDA warnings.3

Also worth knowing

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    On November 6, Novo Nordisk notified Korro Bio that it would end their research and licensing collaboration on February 1, 2027. The agreement had been on hold since November 2025, and earned no milestone payments.4

  • On November 6, Siemens Healthineers said it plans to make its rebranded in-vitro diagnostics unit, Olyrian Diagnostics, a standalone business by mid-2028.5

  • On November 6, Natera promoted Solomon Moshkevich to CEO. Analysts called the change unexpected and said it led to a Friday stock selloff.6

  • On November 6, Emvena Therapeutics launched to develop mRNA treatments delivered by lipid nanoparticles, aiming to prompt placental cells to produce VEGF and improve blood flow in preeclampsia.7

  • On November 6, Tandem Diabetes Care named Jeannette Bankes its next CEO. John Sheridan plans to retire at year-end after leading the company since 2019.8

  • On November 6, European biotechs named new executives, including Björn Tackenberg as Oculis chief scientific officer, Christian Freitag as ARTHEx chief medical officer and Siva Sakhamuri as CRISPR Therapeutics chief technical officer.9

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