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You’re back. We’re sort of back. It’s Day 2 of JPM and we’re definitely not exhausted or delirious yet.

This is Elaine Chen, Adam Feuerstein, Matt Herper, and Allison DeAngelis again. We’ve got a lot more news today, so let’s get to it.

The next test for Kite Pharma — and Gilead

It’s anito-cel, the CAR-T therapy for multiple myeloma that Gilead is developing in partnership with Arcellx. Gilead submitted the therapy to the FDA sometime before the end of December, Cindy Perettie, executive vice president of Kite Pharma, the cell therapy division of Gilead, told STAT at a Gilead media breakfast.

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Moderna said Wednesday afternoon that its experimental vaccine for cytomegalovirus, a cause of disability in newborns, failed in a Phase 3 trial, a significant setback for a company already facing pressure from Wall Street and the federal government.

The CMV vaccine had been the company’s lead program prior to the Covid-19 pandemic. Leadership had repeatedly said it could bring in between $2 billion and $5 billion in peak annual sales. Analysts polled by Visible Alpha forecast peak sales of $1.6 billion for the product.

“It’s obviously disappointing,” said Stephen Hoge, Moderna’s president, in an interview.

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