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Issue #1 — Feb 18, 2026
This week in biotech

Lilly's obesity pill clears Phase 3, Novo buys a gene therapy startup for $2.1B, and the FDA greenlights a NASH drug.

01
FDA approves first-in-class NASH therapy
After a decade of failures, the liver disease space finally has an approved treatment.
02
Novo Nordisk acquires gene therapy startup for $2.1B
A push beyond GLP-1s into rare disease with a clinical-stage AAV platform.
03
Oral obesity drug hits primary endpoint in Phase 3
15% body weight loss at 36 weeks could reshape the convenience equation.
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