The sudden failure of Silicon Valley Bank sent shock waves across global markets. Fierce Biotech Senior Editor Annalee Armstrong talked with Kiah Haslett, managing editor of the publication Bank Director, about how SVB’s failure came to be and what to expect next.

Armstrong and Fierce staff writer Max Bayer chat about how the biotech sector reacted given that SVB served almost half of all venture-backed technology and life sciences companies. They reflect on what surprised them as journalists covering the SVB news. Plus, in this episode, we cover Pfizer's blockbuster Seagen buyout, an expanded antibody-drug conjugate collaboration and more of this week's top headlines. 

To learn more about the topics in this episode: 

• UPDATE: SVB failure triggers shock waves across biotech industry
• UK biopharma body praises bank for keeping doors open at life science startups by rescuing SVB UK
• Insulet tapped to replace SVB on S&P 500 index after bank collapse
• Biden says America's 'banking system is safe' after regulators back up all SVB deposits
• With $43B buyout, Pfizer sees cancer specialist Seagen as a 'goose' laying 'golden eggs'
• Synaffix, MacroGenics crack open ADC pact, tacking on $2.2B, 4 more programs
• Novo Nordisk follows Eli Lilly's lead, slashing insulin prices in the US
• Lilly's 10-year bet on treating Alzheimer's before symptoms start ends in failure
• PerkinElmer completes $2.45B spinoff to create new diagnostics, life sciences company
• FDA oncology chief aims to open up accelerated approval for earlier cancer treatment under 'Project FrontRunner'
• Podnosis, a Fierce Healthcare podcast

The Top Line is produced by senior multimedia producer Teresa Carey and managing editor Querida Anderson with editor-in-chief Ayla Ellison and senior editors Annalee Armstrong, Ben Adams, Conor Hale and Eric Sagonowsky. The sound engineer is Caleb Hodgson. The stories are by all our “Fierce” journalists. Like and subscribe wherever you listen to your podcasts.