Guest Yaron Werber joins hosts Daphne Zohar, Chris Garabedian and Brad Loncar for this week’s Biotech Hangout, centered on the theme of ‘management and culture.’ They cover the big IPO news of the week from Neumora (~$2.5B valuation) and RayzeBio (~$1B valuation) plus Acelyrin’s share value drops after sharing top-line results despite being the largest biotech IPO this year. They also discuss Goldman Sachs dropping its price targets and ratings for “early-stage” biotechs and updates from both Moderna and Roche, who held their R&D days this week. Also, Galapagos’ 52-week low and the contrast with Argenx plus the FDA ad comm on Anlylam’s cardiomyopathy candidate. Other topics of discussion include 2seventy bio’s restructuring, CymbaBay data, ImmunityBio’s equity & debt financing & Day One’s updated data & FDA filing decision date. *This episode aired on September 15, 2023