During Q3, biopharmas brought in an aggregate $18.1bn in financing and device company fundraising totaled $5.1bn; while in vitro diagnostic firms and research tools players raised $771m.

Biopharma stock prices overall are trending down again, but standout firms are raising cash, including the first company to price an IPO over $100m since May, Third Harmonic. Also, Sarepta and Alnylam launched large note offerings, totaling $1bn and $900m, respectively.

The US firm released promising interim data from a mid-stage Becker muscular dystrophy trial, claiming success here could translate to Duchenne as it unveiled plans for more studies across similar conditions.

Evolving challenges will keep the COVID-19 pipeline active, while oncology, immunology and CNS are areas also expected to see much progress in 2022. Industry executives look forward to the year in therapeutic R&D.