Analysts are highlighting several biotechnology companies as likely merger and acquisition targets, with the biopharma sector experiencing increased deal activity, according to an Aug. 5 report from BioSpace.
H.C. Wainwright noted that despite a surge in recent deals, large pharmaceutical companies still face patent expiries and have significant cash reserves for acquisitions. Companies with assets in metabolic dysfunction-associated steatohepatitis (MASH), rare diseases, immunology, oncology, and central nervous system disorders are especially sought after. Beam Therapeutics, Immunocore, and AtaiBeckley were previously flagged as potential targets; Eli Lilly later acquired AtaiBeckley for $3.8 billion.
Alkermes is seen as a strong candidate in the sleep disorder market following Eli Lilly’s $6.3 billion acquisition of Centessa Pharmaceuticals earlier this year. Stifel reported that Alkermes’ lead asset alixorexton is expected to have Phase 2 results for idiopathic hypersomnia in the fourth quarter. The company is also developing ALKS 7290 for attention deficit hyperactivity disorder (ADHD), with further trials planned for 2027.
Dyne Therapeutics has been identified by Oppenheimer as a natural fit for Alnylam Pharmaceuticals after Alnylam’s recent financial setbacks. Dyne awaits a January 2027 Food and Drug Administration decision on zeleciment rostudirsen for Duchenne muscular dystrophy and recently received approval to advance DYNE-302 into human trials for facioscapulohumeral muscular dystrophy.
First Tracks Biotherapeutics has drawn attention due to its pipeline of immunology drugs following Argenyx’s $2.2 billion acquisition of Forte Biosciences this month. Leerink Partners said First Tracks’ CD122 candidate ANB033 binds differently than Forte’s FB102 and has shown better potency in animal studies.
Legend Biotech remains prominent among CAR T therapy developers after positive trial results from its LB2501 therapy in non-Hodgkin lymphoma were described by Oppenheimer analysts as “best case scenario.” Legend’s Carvykti therapy generated $597 million in first-quarter sales this year but faces leadership changes, with CEO Ying Huang stepping down last week.
