March 10 Quick Takes: FDA approves Pfizer’s nasal spray for migraine

Pfizer Inc. (NYSE:PFE) is aiming for a July launch of Zavzpret zavegepant, its newly approved nasal spray to treat acute migraine. FDA approved the intranasally formulated CGRP receptor antagonist on Friday, giving the pharma its second approved migraine product acquired via its $11.6 billion takeout of Biohaven Pharmaceutical Holding Co. Ltd. (NYSE:BHVN) last year, along with oral therapy Nurtec ODT rimegepant.

Allorion Therapeutics Inc. raised a $50 million series B round co-led by INCE Capital and Qiming Venture Partners to support upcoming Phase I/II trials in the U.S. and China and build out its clinical and business development teams. The Boston- and Guangzhou-based company has two small molecules at the IND-stage: ARTS-011, an allosteric inhibitor against the TYK2 pseudokinase domain for autoimmune diseases such as psoriasis and lupus; and ARTS-021, a CDK2 isoform selective inhibitor to treat solid tumors such as ovarian, endometrial and breast cancers. TF Capital, Long River Investment, 3SBio Inc. (HKEX:1530), Octagon Capital and Elikon Venture participated in the financing. The company also announced Gregory Berk has joined as CMO.   ...