Daily Brief Health Care: Elevation Oncology , Hisamitsu Pharmaceutical Co, Avrobio Inc and more

• Following disappointing clinical data for its lead asset, EO-3021, Elevation Oncology has discontinued its development and is now exploring strategic alternatives to maximize shareholder value.
• The company has shifted its focus to its preclinical HER3-targeted antibody-drug conjugate (ADC), EO-1022, with plans to file an Investigational New Drug (IND) application in 2026.
• With a significant workforce reduction and a cash runway extended into the second half of 2026, the company is in a transitional period with high uncertainty, facing pressure from activist investors to wind down operations.

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• Hisamitsu Pharmaceutical Co (4530 JP) reported revenue of ¥34.7B in 1HFY26 down 1% YoY, mainly dragged by subdued performance by Salonpas focused OTC pharmaceutical products.
• Rx business revenues grew 6% as Zicthoru, Apohide, Combipatch,Vivelle-Dot etc clocked healthy numbers excepting Mohrus product line.
• Hisamitsu reiterated FY26 guidance expecting revenue to be ¥165B with profits growth expected to decelerate on higher cost.

• AVROBIO, Inc. has ceased to operate as an independent entity following a reverse merger with Tectonic Therapeutic, which closed in June 2024. The combined company now operates under the name Tectonic Therapeutic, Inc. and trades under the ticker ‘TECX US’.
• Prior to the merger, AVROBIO was a clinical-stage gene therapy company focused on developing hematopoietic stem cell (HSC) gene therapies for rare diseases. Its pipeline included programs for Gaucher disease, cystinosis, Hunter syndrome, and Pompe disease.
• The acquisition by Tectonic Therapeutic has resulted in the discontinuation of all of AVROBIO’s legacy gene therapy programs. The new entity is focused on advancing Tectonic’s pipeline of G-protein coupled receptor (GPCR)-targeted therapies.

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