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Hello, all. Damian here with an update on the plight of the other Covid-19 vaccine company, Wall Street’s latest GLP-1 trade, and the quest for a universal antivenom.

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The need-to-know this morning

• Ocular Therapeutics announced a shakeup of its senior management team and a $325 million private placement.
• Amylyx Therapeutics said results from a closely followed Phase 3 study of its treatment for ALS could come before the start of the second quarter — earlier than previously expected.
• Moderna earnings are here.

Novavax’s money is going in the wrong direction

The good news for Novavax is that it’s no longer facing a $700 million dispute with a global charity organization. The bad news is that settling that dispute will force the struggling company to pay out $400 million over the next five years.

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