The sector bounced right where you would expect, which is a positive sign. I am still not convinced that it is setting up well for the near term but you have to respect that it bounced right where support should have existed. This actually sets up for some clarity going forward. If those lows are […]
October 30 Biotech Update
The price action has not been great the past couple of days despite continued positive fundamentals. This could simply be a consolidation of the recent move higher and setting up a higher low for the sector. I would lean towards the sector setting up a higher low at this point as the macro is fine […]
October 7 Biotech Update
Not a lot of news to start the week. Some interesting odds and ends but nothing to really be a sector mover, so I suspect it continues with the trend that it ended last week. We had a nice little bounce late last week and it could become more meaningful if we get a continuation […]
September 24 Biotech Update
News remains slow but the macro remains in the background. There is a chance that China trade tensions ease (only before rising again) and Iran is fading into the memory (but this is not over yet). Unfortunately, the market is rallying a little but the sector seems stuck in the mud. It is a little […]
August 12th Biotech Update
Another week with another set of macro concerns. I was waiting to see if there would be any interesting biotech news but I guess not. There was some late last week but this morning seems driven by macro (your choice between Argentina and/or Hong Kong and/or China trade). I see little on the horizon that […]
August 6 Biotech Update
We tried to get a bounce this morning but it is tepid at best. On the positive side we did get a CNBC “Market in Turmoil” segment, which usually marks a bottom. On the negative, the move has been so fast it does not seem like panic or despair has had time to set into […]
July 30 Biotech Update
Tell me if you heard this before. Good news in the sector that moves individual stocks and yet little effect on the broader sector. We have yet another day with good news (clinical and earnings) and yet the sector is barely green. Granted the broader market is red but this has become a trend. I […]
July 29th Biotech Update
We sort of have another merger Monday but again not what SMID investors were hoping for and another one that might have limited read through to the broader sector. That being said I am a little surprised to see such a negative reaction in the sector, although it could also be a function of more […]
July 26 Biotech Update
The market seems odd to me. Earnings so far have been good and the individual stocks are going higher on the earnings and holding onto the gains. The rest of the sector is struggling. Usually earnings will drive the sector higher or lower and rarely do you see good earnings with these many large caps […]
DMD Data by Giant Pharma Pfizer Kept Sarepta In the Driver Seat with Superior Drug
Pfizer (PFE) presented its first set of data (n=6) from the mini-dystrophin gene therapy for DMD (PF-06939926) at the PPMD conference on June 28th. Much speculations surrounded Pfizer’s decision to report the dystrophin quantification using mass-spec. Sarepta (SRPT) has used WB-western blot since 2015 during the Eteplirsen FDA approval process. Sarepta has also used it in […]
June 28th Biotech Update
A good finish to the week so far in the sector. I will try and keep this quick and to the point as it is a little delayed because of waiting on the PFE data. The wait appears to have been worth it. 1. The PFE data looking inferior on both efficacy and safety. The […]
June 18th Biotech Update
We got a very nice follow through during the day yesterday for the sector. That is exactly what you wanted to see and ideally it continues for the next couple days. We certainly do not need it to be as strong as it was yesterday but we need to break the strong day followed immediately […]
June 17 Biotech Update
It is a good start to the week with merger Monday coming back the sector albeit with names we were not expecting. The XBI has been in a nice tight range and while we are still in that range this morning, I would look for a breakout about $84. I am not exactly calling for […]
May 14 Biotech Update
I am not sure who had a more difficult day yesterday. You all for having to watch another market meltdown over China fears (and others) or me who had to help chaperone a middle school trip to New Orleans. In any case, we have all survived and the market seems to be bouncing this morning. […]
May 9 Biotech Update
Macro seems to once again dominate the trading with both Iran and China increasing the risk and both North Korea and Venezuela just below the surface. The odds remain that we muddle through these crises but one cannot ignore the risks that these present especially because the Iran and China situations could potentially be very […]
May 6th Biotech Update
Not the best start to the week for the market with the surprise tariff news hitting the market. I would not be stunned for the effect to be muted given how frequently Chine trade news changes. For all we know progress will be made this afternoon and all will be good again. As such, my […]
May 3 Biotech Update
The sector really is trading without a clear trend. Nothing that has happened this week has created a new trend but the range is narrowing, so I expect next week to provide more clarity as to the next move in the sector. A break below the lows this week likely triggers another leg lower otherwise […]
May 1 Biotech Update
The sector continues to lag. What I see as a little odd is that pharma appears to be outperforming biotech. If Medicare for All was going to collapse the US drug market, why would pharma be immune and be doing well? It is an odd disconnect and speaks to something else going on in the […]
April 30 Biotech Update
The sector remains in a rut. The market is doing well with the bio-pharma the clear laggard. While the mania over the medicare for all worry seems to have abated, the sector clearly did not bounce back. It stopped the free fall but we are still well below the pre-mania levels. So what can we […]
April 25th Biotech Update
Yesterday really ended up offering no real direction. We could not quite rally but we also did not quite collapse. Everything that I talked about yesterday about the trading of the sector also applies today given the lack of clarity. I do think it is telling that these large cap earnings are basically being greeted […]
