Resistance is acting like resistance. It looked early that we might be peaking above it but clearly that is not the case. These sort of false breakouts (and breakdowns) are killers in range bound markets as it can get one to trade too early. My mantra in these scenarios is that the sector will be […]
February 7 Biotech Update
We start off a little weak this morning, which is not completely unexpected given that we are at the top end of the recent range. Obviously it would be nice to see a breakout above the range to start another leg higher but range bound trading after the recent run is not bad at this […]
January 8 Biotech Update
The sector is ripping higher the past couple days, which makes sense given the news flow. I thought the XBI could hit $80 and it did. This is an area of some resistance and the question is whether or not this momentum could actually carry it to the $85 area. Over the near term I […]
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 […]
December 7 Biotech Update
The market can always surprise and I was surprised yesterday with the sector strength. The broader market did better than I expected but the sector clearly outperformed. It is only a day but if we see continued strength today then one has to read these days as a strong signal in the near term. I […]
November 8 Biotech Update
Not a lot going on but there are a couple of quick points I want to make today. 1. AKAO is having the completely predictable slow antibiotic launch. You will never see these launch like anti-virals or oncology drugs. Simply being approved does not mean they will be used as hospitals have to review it […]
October 25 Biotech Update
Yesterday was brutal and there is really little to say about it as we are clearly in the middle of a massive correction if not outright bear market. I suspect that we are closer to the end than the beginning but that does not mean we could not see another 10% lower from these levels […]
October 15 Biotech Update
Tell me if you heard this story before. Merger Monday and nothing happens in biotech. We have essentially run out of excuses as it was the political uncertainty and then it was tax reform. Neither are issues at the moment and we still have nothing happening. Are valuations in public companies still too high? Have […]
October 10 Biotech Update
I do not think there is much to say today outside of the obvious. The market is not looking good and we seem to be entering (or in the midst) of a broad market correction that is going to take everything down with it. Fundamentals are not going to matter in the near term. It […]
October 5 Biotech Update
Yesterday was brutal to say the least. There really was nothing to like about it. The XBI seems to have broken below its range and the IBB is rushing to the bottom end of its range. I have been talking about the XBI as the early warning index for the IBB and unless it can […]
SRPT – Again, WMS-2018 Dystrophin Data Beating the Market Expectation
Yesterday 10/04, at 7:00 am ET, Sarepta Therapeutics (SRPT) with Dr. Mendell released the biopsy data from the fourth patient including full 4 patients “Functional Data” from Argentina at #WMS2018 the 23rd International Annual World Muscle Society meeting Link to the full slide deck: https://www.sec.gov/Archives/edgar/data/873303/000119312518292068/d616670dex992.htm The after-hours share price reaction was wild swing, spiking up […]
SRPT – Preparing for WMS-2018 Presentation
Tomorrow 10/04, at 7:00 am ET, Sarepta Therapeutics (SRPT) with Dr. Mendell are hosting a conference call from Argentina at #WMS2018 the 23rd International Annual World Muscle Society meeting, to present and discuss new data from the micro-dystrophin gene-therapy study Ph1/2. Link to SRPT webcast page: http://investorrelations.sarepta.com/events-and-presentations Back in June 19th at the R&D day SRPT […]
September 24 Biotech Update
An interesting start to the week, although we still like real M&A or business development. Unlike previous weeks, however, there is actually some interesting news to discuss. The sector is green and outperforming the broader market but the move seems pretty isolated so ideally this green will broaden as the day continues. 1. The big […]
SRPT’s CEO Fireside Chat at Morgan Stanley Conference
Sarepta (SRPT) had a great run last week, a kick off following MS fireside chat, closing at $152.76 the highest “close” since June 21st (highest 52W close 06/20 was $153.69) on nice volume, but the highest “Weekly-Close” in the weekly chart (Close & not highest price point). Looking for a continuation next week, while the target […]
September 13th Biotech Update
We are finally getting a broad snap back rally but it needs to be more than a simple morning rally that is faded as the day goes along. If this rally is not built upon during the day, then odds are it simply reset the RSI and opened up a path to retest the bottom […]
September 12th Biotech Update
The sector is certainly struggling and its inability to generate any consistent buying interest after the sell-off is certainly worrisome. All of that being said there are so many names that have been red everyday that there has to be a snap back rally at a minimum. CELG has lost over $1.2B in market cap […]
August 16th Biotech Update
The sector was pretty weak yesterday but remained in its range. While there is nothing to dissuade me from the summer chop, there are some warning signs. First, we are close to breaking through the support on both the XBI and IBB. Second, the early morning bounce was quickly sold. Obviously it remains early but […]
August 9th Biotech Update
The chop continues. I just do not see anything definitive in either direction and am coming around to the belief that we are not going to see anything definitive soon. I suspect we bounce between 113 and 120 on the IBB for a bit and then come the fall we see a break with volume […]
August 8th Biotech Update
We are not quite getting the clarity to the upside but there is nothing to indicate that the sector is about to break to the downside. It seems like the path of least resistance is going to be chop perhaps until more investors get back from their summer vacations. The fall tends to see more […]
XENE – Epilepsy and Advocacy Under the New FDA
Xenon Pharmaceuticals (XENE) is a clinical stage biopharmaceutical company focusing on discovering and developing innovative therapeutics for neurological disorders. XENE has an extensive knowledge of human genetics and diseases caused by mutations in ion channels, known as channelopathies, focusing their efforts on novel product pipeline of CNS-central nervous system therapies, to address areas of high […]
