BioBrief covers a selective biotech session where large-cap quality outperformed, pharma business development stayed active, and regulatory-path clarity drove several company-specific stories.

In today’s BioBrief:

• Bristol Myers Squibb / Hengrui Pharma — BMS announced a broad collaboration covering 13 oncology, hematology, and immunology programs, with $600 million upfront and up to about $15.2 billion in potential total value.
• MoonLake / sonelokimab — FDA feedback suggests MoonLake may be able to support a future BLA in hidradenitis suppurativa using existing VELA-1, VELA-2, and MIRA data, reducing the perceived need for another HS trial.
• Agios / mitapivat — Agios submitted an sNDA seeking accelerated approval in sickle cell disease, with FDA alignment on the conf ...