We are now ramping up the news with the peak coming Monday. Not many deals announced so far and I suspect we need more for us to get a decent rally next week but it is still early in the JPM news cycle. That being said if Monday morning arrives without more deals (and larger […]
Another Look at TPTX
With the entrance of RET inhibitor TPX-0046 into P1/2 last November, fast moving Turning Point Therapeutics now has a full slate of 3 clinical candidates. Soon, another ALK inhibitor is expected to join the fray. Pipeline: The pivotal repotrectinib studies in ROS1 and TRK are ongoing with interim results from some registrational cohorts expected during […]
December 9th Biotech Update
We have our answer as to the strength of the trend. Positive data are being rewarded (so far) and the perfect storm continues for the sector with not only good data but more M&A. So not only do we need to think about the trend but also whether this is a major breakout as the […]
November 6 Biotech Update
We remain in what seems like the trend. Day three of the pullbacks tends to be when we restart the move higher but yesterday ended marginally green instead of red so it is not completely predictable. In any case, we are getting close to what should be the higher low and expect a reversal today […]
Initiating: Turning Point Therapeutics
San Diego based Turning Point Therapeutics is an oncology focused biotech that completed a successful IPO in April this year, raising about $190M with pricing at $18/sh. As the stock continued to climb, TPTX quickly filed for a secondary on September 3rd, adding another $200M to its cash hoard. The company is now very well […]
September 10 Biotech Update
Surprise. The sector is weak. I am a little surprised that we are not see a faster sell off as clearly there is no momentum and we have broken support. This really seems like a nice and orderly sell off and this is not necessarily good. The selling does not end when there is no […]
August 16th Biotech Update
So far the week is ending on a positive note but it is early but not surprising that we see some sort of bounce in the market. I sort of wonder how the trading ends the day as it will send a stronger signal than how trading starts. We have seen a lot of macro […]
July 9 Biotech Update
I am back from vacation and have a couple of days to get as much work done before I am taking care of some family issues. I should have some time perhaps late next week but it will be hit or miss. In any case, there are some interesting points that I tangentially followed on […]
January 7 Biotech Update
This is one hell of a start for biotechs this year. M&A and good data are back. Of course, there is a bias in JPM week to present good news early, so I would be surprised to see this rate of positive news to continue all week but this is certainly a great start and […]
December 11 Biotech Update
The market did a lot better to start the week than I would have thought and that strength continues today. At this point, I think everyone does not really trust the market (I fall in that camp) but does that mean then that the sellers on this pop get burned? Everyone expects the move higher […]
November 19 Biotech Update
This should be a relatively slow week but with ASH late breaking abstracts coming out later, it might not be completely devoid of news. There is a little more hope for the sector than the middle of last week. We have had a couple of strong days, although one could argue this has just brought […]
October 29 Biotech Update
Surprisingly not any M&A (I say sarcastically). It is interesting, however, that there are some partnership deals and this makes me wonder if that is the new M&A. It is a relatively cheap way to get access to a particular asset with relatively lower risk especially if most of the biobucks are commercial. It is […]
October 17 Biotech Update
Yesterday was obviously a great day for the sector with everything higher and by a lot. It is not stunning to see some pullback from that move but if there is truly a reinvigorated sector, then you would want to see this red opening reverse into a green day to turn yesterday from a one-off […]
August 15th Biotech Update
A pretty weak open for the sector but again this is nothing more than low volume chop as I see it. Unless it breaks below 113 on the IBB and then retests that as resistance or above 120 and then retests that as support, I will continue to argue that the sector is directionless. Of […]
May 21 Biotech Update
So it looks like the trade war with China is off, which should be good for the market in general. Whether that risk on appetite will translate into the biotech sector is another question as they are not a real beneficiary of the lack of a trade deal. That being said they certainly sold off […]
May 14 Biotech Update
Not much going on this morning. The big feared Trump drug pricing speech was a giant nothing burger and anyone who has paid attention the past 18 months could have predicted it. There is nothing that congress is going to pass and there are limited options that the administration can do by itself. In addition, […]
May 10 Biotech Update
The sector rallied yesterday and the market in general seems to be shrugging off the escalation in Syria last night. I am a little surprised in that we saw the largest engagement between Israel/Syria since 1973 and perhaps the largest engagement between Israel/Iran ever. It seems that as long as it stays in Syria the […]
April 24 Biotech Update
There is a decent amount of news flow today, which makes sense given that I have little time to cover it all this morning. I will try and go through the main news and touch on the most important aspects. Overall, it is not feeling like this earning season will be enough to change sentiment, […]
April 2 Biotech Update
Thursday was not a bad follow through for the sector. I am still not convinced that we are out of the forest quite yet but we are at least further away from the abyss that was staring at the sector earlier last week. This week looks to be quiet to start as there is not […]
March 26 Biotech Update
The market is going to bounce today and there are a number or proximate reasons. It could be the Stormy bottom. A dead cat, oversold bounce. A “maybe there will not be a trade war” bounce. Maybe a little of each or none of them. Bottoms on Fridays are a little rare, so the gap […]
