The sector sort of held in there for the ASH hangover but was sort of hit or miss. With ASH winding down, we are seeing the winners selling shares and the losers trying to cut losses. At this point, it is either a wait for JPM or hope for some news out of nowhere. 1. […]
December 1 Biotech Update
It looks like the market and sector are going to be tied to the fate of the tax bill (at least that is how it seemed yesterday) and that makes sense given how many breaks it provides to businesses. The sector modestly outperformed the broader tech sector, which is likely some kind of catch up […]
November 20 Biotech Update
The news is winding down as we get closer to the holidays but there is some news today. For the most part, I do not expect a lot of news but there could be an M&A push to end the year if bankers need more deals for their bonuses. That being said I think we […]
October 31 Biotech Update
The sector held onto some of the early gains but not a great finish. I read the retracement more related to broader market weakness on the fears of tax reform rather than an indictment of the bio bounce. Today will be important (assuming broader market is benign) to see whether the bounce has any chance […]
June 23 Biotech Update
We are finally getting a break in the move higher but it has been quiet impressive. There was less excitement in the move than I would have thought, which I see as a sign that a lot were caught flat footed and felt under-invested (although gauging sentiment from twitter might not be the best idea). […]
June 20 Biotech Update
The sector seems to be breaking out of its range with another early show of strength. While it is still early and we have been here before, the background seems better for a breakout. We have yet to have a real negative catalyst (has been the pattern) and political overhang is leaving. As a side […]
April 18 Biotech Update
Nothing dramatically new happening in the sector. There are a couple of interesting tidbits that are worth talking about but certainly no thesis changing or confirming news. 1. JNJ started off the earnings season with a mixed quarter. It is tough to read from JNJ to the sector writ large given the diverse base and […]
March 10 Biotech Update
The sector has been interesting. Given the past 18 months, it feels easy to be bearish on every pullback consolidation but I am incrementally more positive. It is starting to feel more like a pause at an important level of resistance as opposed to the start of a large retracement. Obviously we likely need some […]
June 10 Biotech Update
We are having a decent pullback yesterday and this morning. Many are still frustrated with the sector and are getting the feeling of “here we go again” but pullbacks happen in bull markets. This is not to say that we are in the midst of a new bio-bull market but that we should not run […]
Global Blood Therapeutics: Targeting Sickle Cell Disease
Global Blood Therapeutics (GBT) is a recent graduate of Third Rock Ventures, a highly regarded firm with a list of innovative portfolio companies including Bluebird Bio, Foundation Medicine, Agios, and Sage Therapeutics. The company’s most advanced program is a compound in Phase 1 for the treatment of patients with Sickle Cell Disease. Sickle cell disease […]
August 11 Biotech Update
Not a lot of biotech news again but macro is creeping back into the discussion with China devaluing their currency. Who knows the pin action this will have on the sector as it could mean global growth is too slow and biotechs are then the best growers. It could mean that it will trigger more […]
