Aug. 6 Quick Takes: Sanofi gains FDA approval for Pompe therapy

FDA approved Nexviazyme avalglucosidase alfa-ngpt, an enzyme replacement therapy from Sanofi (Euronext:SAN; NASDAQ:SNY), to treat patients ages one and older with late-onset Pompe disease, expanding the pharma’s reach in the patient population. Sanofi also markets ERT Lumiytme alglucosidase alfa for Pompe patients ages eight and older. 

Adagio Therapeutics Inc. (NASDAQ:ADGI) gained 23% to $20.88 on its first trading day after raising $309.4 million in an IPO through the sale of 18.2 million shares at $17, valuing the company at more than $1.8 billion. Adagio had raised $469.2 million in private funding since spinning out of antibody discovery play Adimab LLC in July 2020, including a $336 million series C round in April, as investors banked on the company’s strategy of prioritizing breadth of coverage over speed to market for its COVID-19 mAb discovery program. ...