Corcept Therapeutics (CORT) is currently awaiting topline Phase III data for Korlym(mifepristone) in psychotic depression in the second quarter. Currently, Corcept projects Korlym will do net revenue between $24-$28 million under it’s limited label for endogenous Cushing’s syndrome, a rare condition in which the adrenal glands overproduce cortisol. Below you will find an assessment of […]
March 17 Biotech Update- Due for a Bounce?
The sector looked good this morning but seemed more in line with the broader market and not necessarily a signal of strength. We are at a region where we should see a bounce in the IBB but the move this morning was not really encouraging. It seemed that there were more than enough sellers on […]
March 14 Biotech Update- Seeing Red as Value or the End?
Interesting morning for the sector with the broader market relatively unchanged and the biotech sector selling off hard. Why would this be the case? Is it something fundamental to the sector or just jittery traders dumping unnecessarily? Given the macro uncertainty in the Ukraine it could just be the case that traders are reducing risk […]
Quick Take on GERN Clinical Hold
Geron announced this morning the FDA had placed a clinical hold on its lead drug Imetelstat. While the agency cited only trials in ET, PV, and MM, the company also expects a delay in its key Phase II MF study- originally set to begin mid-year. Shares plunged from $4.40 to as low as $1.39, but […]
Catalyst Watch – Vol. 2, Edition 7 (3/12/14)
Below are current tactical and strategic thoughts on approaching FDA and clinical trial catalysts for select names. Estimates, values and views are as of the date published (or are noted), are subject to potential future, pre-catalyst revision and are not intended as investment recommendations. Please read our Disclaimer: (1) Catalyst Watch List – Update: CYTK: […]
March 12 Biotech Update- Ovarian Cancer in the News
The broad sector continues to try and finds its footing, so there is really nothing new on that front. I want to spend this note talking about two companies that I have been receiving questions on the past couple of days. Please keep the questions coming as I want to make sure and touch on […]
Upcoming events for Merck
Members of Chimera Research Group have successfully been trading Merck for the past few months, especially Joe Gantos(@GantosJ). Merck has been one of the strongest big pharmas over the past few month on the heels of pipeline developments. With a new year, we want to provide a road map for what’s to come in the […]
March 10 Biotech Update- Do Not Underestimate CNAT
The sector seems to be searching for a bottom and it is not clear whether this is simply part of that process or a pause before the next leg down. As I noted last week, I will not try to call the bottom but will be a buyer on the large moves down. Whether this […]
Upcoming events for Pfizer
Pfizer (PFE) isn’t traditionally on my watchlist as a name to follow, however, this may be an exception. Palbocicib is likely the most exciting pipeline product in development at Pfizer right now. It received Breakthrough Therapy designation from the FDA in April 2013 for the treatment of breast cancer, following very encouraging Phase 2 results […]
March 7 Biotech Update- Selling Feeding Selling
I am going to spend today talking about the sector in general and send this note out early in light of the significant sell off that started yesterday afternoon and continued this morning. While the bulk of the discussion seemed to center on GILD it should be noted that it was the sector that got […]
March 6 Biotech Update- Oh the Humanity
It is Thursday again and as usual I do not have much time to write anything in depth. In general, the broad market looked good but the sector seemed pretty heavy. I cannot shake the feeling that the sector is starting to turn in that the runs higher seem further apart and the intraday dips […]
Week’s Option Activity (2/20 ~ 3/04)
The following stocks had notable activity in their options during the past week(s): $CYTK (2/20): There were two large trades – one bullish and one bearish. (1) Bullish: 2,900 MAY risk reversals were purchased (stock at $9.85) for net 1.10 or total net cost of $319,000 (2,900 MAY 7.50 Strike Puts were sold for 1.90 […]
March 5 Biotech Update- Rumors Dispelled
I am back from vacation and it looks like I did not miss much (I say tongue in cheek). Of course, even though I missed two big days of trading, my portfolio is basically unchanged since I left. I think that just goes to show how volatility is dangerous for a portfolio as one is […]
Catalyst Watch – Vol. 2, Edition 6 (3/4/14)
Below are current tactical and strategic thoughts on approaching FDA and clinical trial catalysts for select names. Estimates, values and views are as of the date published (or are noted), are subject to potential future, pre-catalyst revision and are not intended as investment recommendations. Please read our Disclaimer: (1) Catalyst Watch List – Update: CYTK: […]
February 28 Biotech Update- Whose Afraid of a Little Selling?
Well, it was a good day for the market and sector, although it seems to be getting weaker as the day goes on. I think we need to be careful going forward as we are getting towards a seasonally weak portion of the year and the sector has had a nice run and is looking […]
February 27- A Quick Biotech Update
Thursday’s are always busy and today is no different. I wanted to post a quick update in terms of ECYT. 1. As I noted yesterday, I contacted the company and I did eventually get a response. Essentially, ECYT does not want to discuss anything about the CHMP process with individuals for fear of selective disclosure. […]
February 26 Biotech Update- Questions about Questions
The broader market and sector is more of the same so I will focus less on the macro simply because nothing has really changed. There are two stocks of interest this morning and both are fairly relevant, so I will get this note out sooner than usual and with less editing than usual (so it […]
Catalyst Watch – Vol. 2, Edition 5 (2/25/14)
Below are current tactical and strategic thoughts on approaching FDA and clinical trial catalysts for select names. Estimates, values and views are as of the date published (or are noted), are subject to potential future, pre-catalyst revision and are not intended as investment recommendations. Please read our Disclaimer: (1) Catalyst Watch List – Update: CHTP: […]
February 25 Biotech Update- Some Upcoming Catalysts
It is another day with the sector trading basically in line with market and the real outperformers/underperformers have news associated with them. At this point the real tension in the sector is between the clear continuation of the rally and the fear/expectation of a larger macro correction that will take the sector down with it. […]
February 24 Biotech Update- Blowing Bubble Talk (Again)
The broader markets certainly started the week off strong and took the biotech sector with them. That being said I did not see any really strong outperformance. The large caps were up but generally in line with the broader market and small caps more or less the same. So I really see today’s move as […]
