Why CG Oncology will be the first test of 2024’s IPO waters

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Good morning, everyone. Damian here with an in-depth preview of a certain annual biotech conference, a look at the cutting edge of obesity drug development, and year’s first IPO filing.

The need-to-know this morning

• Eli Lilly issued an “open letter” warning against the use of its GLP-1 drugs Mounjaro and Zepbound for “cosmetic weight loss.”
• A judge recommended the dismissal of a defamation lawsuit filed by Cassava Sciences against two neuroscientists, Geoffrey Pitt and David Bredt, who had petitioned the FDA to halt the development of the company’s experimental Alzheimer’s drug.
• It’s a big morning for “2024 corporate update” press releases from biotech companies — too many to list here.

Your guide to #JPM24

Will there be deals? Why is Nvidia here? And can biotech’s good vibes survive?

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