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Adam Feuerstein is a senior writer and biotech columnist, reporting on the crossroads of drug development, business, Wall Street, and biotechnology. He is also a co-host of the weekly biotech podcast The Readout Loud and author of the newsletter Adam’s Biotech Scorecard. You can reach Adam on Signal at stataf.54.

This story first appeared in Adam’s Biotech Scorecard, a subscriber-only newsletter. STAT+ subscribers can sign up here to get it delivered to their inbox.

Welcome back, everyone! I missed you all. I spent a good bit of my holiday building the Lego version of the U.S.S. Enterprise: 3,600 pieces. I hope you found time to do something equally cool. 

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Housekeeping note: I am flying out to San Francisco tomorrow for “JPM Week.” On Sunday, I’ll be sending an extra newsletter with my pre-conference thoughts. Look for that in your inbox.

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