The liver disease is one of the hottest areas of drug development. Here are some upcoming catalysts to look out for.

TERN-501 monotherapy looks serviceable in a mid-stage NASH trial, but others are ahead. Perhaps partnership is the way forward.

Turnstone’s initial public offering comes just one week after Apogee and Sagimet launched US IPOs. Also, Westlake Village BioPartners raised $450m for its third venture capital fund and argenx grossed $1.27bn in a post-Phase III follow-on offering.

Genfit/Ipsen’s elafibranor and CymaBay’s seladelpar are vying to supplant Intercept’s Ocaliva in second-line primary biliary cholangitis, but elafibranor failed to hit a key differentiation endpoint in pruritus.