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 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 […]
October23 Biotech Update
It is unfortunate that the earnings weeks comes as the market seems to want to collapse. Industrial earnings are finally seeing the impact of the trade policies and now apparently it is a biotech issue. It is hard to see how the sector would avoid being pulled into a larger market sell-off regardless of the […]
October 22 Biotech Update
This should not be week of no news as we have the ESMO data to digest as well as a number of large cap earnings to work through. Unless there is some massive move in the market, it is hard to imagine that the sector does not trade on the news as opposed to following […]
October 18 Biotech Update
We finally have some M&A in the sector but I am not convinced it will have a very broad effect. While it is not a small deal, the $2B or so price tag is not game changing for anyone. In addition, the top holders were overwhelmingly biotech specialists and not generalists. Clearly it will be […]
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 […]
Briacell Interview
Chimera Research Group: What sets Briacell apart from other immuno-oncology approaches? Dr. William V. Williams, President and CEO of Briacell: Briacell is developing a novel cancer immunotherapy based on a cancer cell line called SV-BR-1-GM a.k.a. Bria-IMT™. It was originally taken from a breast cancer patient, and further genetically altered to express GM-CSF, a stimulator […]
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 12 Biotech Update
Not a lot in terms of news but certainly in terms of action. The selloff has been brutal but I think we are much closer to a bottom than many think. My question is not whether we get a nice short covering rally soon (I expect we do) but what happens after the shorts cover? […]
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 9 Biotech Update
It was certainly not a great start to the week and the sector really needs a turnaround Tuesday to pan out. Interestingly, the pharma and large cap bios did OK yesterday as perhaps a flight to safety trade. The IBB seems right at the bottom of its range and has the potential to find support […]
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 […]
October 2 Biotech Update
There is not a lot of news today, so I will keep it relatively quick. I am really not starting to like the way the sector is trading. The XBI continues to act like crap even as the IBB trades near the upper end of its range. If the XBI cannot rally and rally fast, […]
October 1 Biotech Update
Yet again another weekend is passed and yet again there are no major M&A. Yet again, it no longer seems to matter. A little different this morning is not a major outperformance by the large caps but it is still early. There is at least some little bit of news to start the week but […]
September 27th Biotech Update
We continue to see the disconnect between the IBB and XBI, where the large caps are outperforming the SMID. Given that the previous range break on the IBB did not hold, I suspect we will need greater SMID participation but it is not crazy to see investors first put money to work in large caps […]
September 26 Biotech Update
Yesterday was a little odd. It was generally a good day for the sector but a lot of companies had very large ranges for no apparent reason and on no news. Usually you can see those swings at turning points but it seems odd to be happening essentially in the middle of a range bound […]
September 25 Biotech Update
The sector appears to be gaining some momentum but we need to see the strength continue and ideally broaden. Positive data being rewarded is good as there have been times where positive data got nothing than a quick spike only to be sold later in the day. The IBB is back at the high end […]
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 […]
September 20th Biotech Update
Still a boring market in terms of news. The sector appears to have successfully defended the bottom end of its range but one could argue it done so simply by performing in-line with a strong broad market. Given the broader strength it would have been an awful signal to breakdown but regardless of the reason, […]
September 18 Biotech Update
The sector struggled yesterday and it still looks like testing the bottom on the range is possible. Perhaps the China tariffs news cleared the market a little and we might avoid that scenario. It remains to be seen but a green start today is nice to see but it would be better to see it […]
