On this week’s episode, Daphne Zohar, Josh Schimmer, Tim Opler, John Maraganore, and Paul Matteis discuss the biotech market’s recent resurgence, and new FDA commissioner Marty Makary’s comments during his interview with former Fox News journalist Megyn Kelly. The discussion then shifts to the FDA’s reorganization, confusing return-to-work policies, and low morale at the agency, which resulted in slower review times. The conversation moves to BMS’ Cobenfy Phase 3 ARISE trial results and uniQure’s breakthrough therapy designation for its Huntington’s disease gene therapy. The group then revisits a discussion about biotech market updates and short selling. They also shared perspectives on Harvard University’s lawsuit against the Trump Administration, the broader issue of academic freedoms, and antisemitism on college campuses. The episode concludes with a discussion on the challenging microenvironments, CEO survival tips, and an overview of how investors are evaluating data. *This episode aired on April 25, 2025.