A mixed start to the week with the broader market and sector lower on the open. Nothing dramatic on either and nothing really meaningful in news flow, so a sort of drifting would not be unexpected. I think it is safe to say that we are in the calm before the storm with earnings really […]
October 1st Biotech Update
The sector has been a grind this week in that it appears unable to move higher but also is not breaking down at all. Every rally appears to be sold or unable to get any real traction (the open today is a perfect example in that it looks like we could have a good day […]
September 28th Biotech Update
While there is nothing major happening in the sector, the broader market appears to be recovering and the sector is probably going to be along for the ride. If we can get enough strength this week to push the XBI above the recent highs (around $116.30) then we can start to take more serious the […]
SRPT to Release 2-Years DMD and LGMD-2E GT Data at WMS-2020
It was a surprising and unexpected decision by Sarepta to release the long term data from the first clinical trial of DMD Gene-Therapy, a 2-years data to be presented at the World Muscle Society WMS25 Virtual Congress, despite the previous statements saying, we do not want to release data from an open label study while […]
September 10 Biotech Update
The sector seems to be doing well as it recovers with the broader market. One has to remain a little cautious as we seem to be in a downtrend with lower highs and lower lows and while this strength looks good, we cannot become too optimistic until we break the recent trend. Hopefully this is […]
August 20th Biotech Update
The sector seems to be hanging in there despite the CRLs yesterday but there remains some interesting fallout that I want to focus on today. I would not be surprised to see the sector ultimately move higher in the near term given how well it traded on pretty negative news but we will see. I […]
August 6th Biotech Update
The sector came close to getting above recent highs but seemed to touch them and then pullback. It was not necessarily a bad day for the sector but also did not quite break the potential downtrend. There seems to be some positive news last night and this morning, so perhaps that will be enough to […]
July 8th Biotech (and MLP) Update
We are getting some news as the week progresses but it still remains a little slow on the news. I suspect that this continues as we have the start of earning season at the end of the month and so unless there is really noteworthy news companies are going to likely wait until earnings to […]
July 2nd Biotech Update
The news seems to have dried up as we head into the long weekend. We had “positive” jobs data that seems to be sparking a rally. While the data are good, it is also on the back of the expanded epidemic so it seems a little unsustainable as there have been repeated closings in the […]
June 26th Biotech Update
The sector remains strong with a green day yesterday as well as a relative outperformance to the broader market. I guess COVID will not matter until it does but I remain worried that it is only a matter of time before case growth (and like deaths) become too high to ignore. This morning we seem […]
June 22nd Biotech Update
The sector is trying to break out of its range to the upside. Not only did it trade above the range on Friday but close above it. The ultimate confirmation would be a run above the range and then come back and test of the old resistance for support. So at this point I see […]
June 8th Biotech Update
An interesting start to the week in terms of news at least. The sector remains mired in its range, which with the news over the weekend seems a little surprising. My thought Sunday was that we would remain in the range but make a move to the higher end of the range as the news […]
Sarepta (SRPT) LGMD2E Data Readout and The Street Expectations
Sarepta will finally reveal the high dose LGMD2E data from the gene therapy SRP-9003 on Monday morning and put this highly underappreciated program on the big podium. In a surprising Friday post-market closing press release, Sarepta announced that on Monday, June 8, 2020 at 8:30 am ET, it will host a webcast and conference call […]
May 26th Biotech Update
The week is off to an optimistic start and it is not clear to me the exact reason. Perhaps it is more optimism about vaccines or a belief (hope) that the re-opening will not lead to a new spike in cases. We do know that there seems to have been a massive increase in retail […]
May 15th Biotech Update
It seems a fight/indecision in the sector right now. It remains right at the breakout level unable to move higher to confirm the breakout or move lower to reinforce the level as resistance. It still seems to be doing modestly better than the broader markets but there seems clear indecision at this level and at […]
May 7th Biotech Update
Earnings continue and the themes are basically the same. They are generally good if not better than expectations but they remain cautious for the rest of the year. The sector is certainly rebounding from the selling late last week but there seems to be this odd late day selling despite strength during most of the […]
February 14th Biotech Update
You remember how I believed that the sector was at a decision point and was unlikely to hang out close to the recent highs without breaking out or breaking down? Yes, I remember too and of course that is exactly what seems to have happened. While I remain surprised this happened, it does not change […]
January 29 Biotech Update
The sector and market seem to be trying to make a decision. There was a decent selloff and now the bounce. Is the bounce just resetting the short term oversold conditions for another leg lower or has the selloff provided the dip that the longer term trend higher needed. I am not sure either way […]
January 22 Biotech Update
I think the trading context for the near term is basically set. We have a potential macro scare with the Wuhan coronavirus, earnings, and the sector trading just below breakout levels. Lurking in the background is the democratic primaries, which could influence trading (Sanders and Warren bad for biotech, others good for biotech—or that is […]
December 16 Biotech Update
We have a decent news morning but I want to focus on three and can do so with a Western theme: the good, the bad, and the ugly. 1. The good: Clearly this is AMRN. We got an early Christmas present with an expanded label. They did not get the primary prevention but also seemed […]
