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Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating, because that oh-so-familiar routine of meetings, online calls, and deadlines has returned. But what can you do? The world, such as it is, keeps spinning. So time to give it a nudge with a delicious and hot cup of stimulation. Our choice today is the ever-so-smooth butter pecan. By all means, feel free to join us. Meanwhile, here are a few tidbits to get you started on another day. We hope your journey today is meaningful and productive. And do stay in touch. We appreciate your tips and insights…

Experts are predicting a coming surge of mergers and acquisitions in biotech, and if history is any indicator, early-stage startups will be even more tempting targets than normal, STAT explains. The last time there was a big wave of biotech acquisitions, buyers snapped up early-stage companies much more often than they did during other periods, according to a new STAT analysis of the timing of more than 250 acquisitions in biotech, spanning from 2000 to 2021. Almost a quarter of the companies acquired in the last surge, between 2013 and 2018, had yet to begin a Phase 2 trial. In other years, such early-stage companies made up just 10% of acquisitions.

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