IOBT Announces Job Cuts; GSK to Acquire RAPT for $1.5B; CORT Ovarian Cancer Trial Hits Endpoint

International Oncology Biotech (IOBT) announced on January 23, 2026, a restructuring plan that includes job cuts across its operations, citing cost optimization needs. The move follows a recent decline in investor confidence due to delayed drug development timelines. GlaxoSmithKline (GSK) agreed to acquire RAPT Therapeutics for $1.5 billion in an all-cash deal, aiming to bolster its oncology pipeline with RAPT's innovative cancer treatments. The acquisition is expected to close by Q2 2026. Meanwhile, Corteva Agriscience (CORT) reported positive results from its Phase III ovarian cancer study, meeting primary endpoints ahead of schedule. The trial's success could accelerate regulatory approval for the new therapy, potentially expanding CORT's presence in the oncology market.