Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world.Sage has decided to discontinue the development of its Alzheimer's drug candidate, dalzanemdor, after disappointing mid-stage readouts. This is the third setback in neurology for the company in six months. Meanwhile, cell and gene therapy investments have increased after a challenging period. The Alliance for Regenerative Medicine reported that investments reached $10.9 billion in the first half of the year, surpassing 2019 totals but still below peak levels during the pandemic.Keytruda has shown success in head and neck cancer trials, leading to a potential $1.9 billion collaboration deal for Merck. Additionally, Wuxi Biologics faces an uncertain future in the U.S. following regulatory challenges.Biotech mergers and acquisitions have leveled off, with private biotechs being acquired at a faster rate than public ones in 2024. Kailera Therapeutics has emerged with $400 million for obesity drugs, while Triveni has received $115 million to accelerate immune drug work. Judo Bio has launched with $100 million to develop RNA drugs for the kidney. Sanofi's rare disease drug has found a new home with Recordati.An Alzheimer's drugmaker, Cassava Sciences, is facing accusations of data manipulation but is continuing with two phase 3 studies. The top biopharma conferences to watch in 2025 are highlighted as important events for research progress and clinical trial results in the industry. Oncologists are comfortable referring patients for CAR T-cell therapy, but formal referral processes are lacking.The newsletter "Emerging Biotech Weekly" covers these developments and more in the biopharma industry.