Catalysts ahead for the smaller players

Evaluate Vantage has already delved into the key first-quarter clinical data for big pharma and large biotech groups. Now it is the turn of companies with a market cap under $1bn.

Calliditas’s Tarpeyo already has an accelerated approval in IgA nephropathy, but it now needs to make its mark with confirmatory data on a harder endpoint as competition looms. Elsewhere, Madrigal’s hit this week turns attention to other Nash players: both Viking and 89Bio have mid-stage data approaching.