Biotech industry navigates evolving regulatory and financial currents. The FDA has accelerated review timelines, with Ionis securing rapid approval for its rare disease therapy Dawnzera and Stealth BioTherapeutics receiving expedited review for a Barth syndrome candidate. Meanwhile, QuidelOrtho completed significant debt refinancing to improve financial flexibility. On the policy front, the NIH confronts funding cuts tied to diversity initiatives following Supreme Court rulings, while the UK government and drugmakers remain at odds over new pricing plans. These shifts reflect the complex interplay between innovation, capital, and policy.