Ideaya closes $302.4M raise: The cash came in higher than expected after Ideaya said earlier this week it planned for a $263 million offering. On Monday, Ideaya presented Phase 2 data for a drug designed to treat certain types of urothelial cancer and lung cancer.
AbbVie files new Rinvoq pitch: The company is attempting to get the blockbuster drug approved in giant cell arteritis, which is an autoimmune disease that causes inflammation in large arteries in the neck, arms and temples. If approved, Rinvoq will have to compete against Roche’s Actemra in the disease and potentially Novartis’ Cosentyx. J&J’s Tremfya, meanwhile, notably failed a Phase 3 study in the condition last month.