Some decent news this morning for the sector but not quite a robust reaction. Perhaps the sector needs to pause after its recent run or perhaps it will rally later but I would have expected a little more follow through. It is still early and regardless of the price action the sector needs to continue […]
February 13 Biotech Update
A relatively slow start to the week, so I will start off with perhaps the most (maybe only) meaningful fundamental news and then highlight another stock that is very likely under the radar. We have a couple of investor conferences which tend to focus on small caps, so there could be some pick up in […]
February 10 Biotech Update
So I think we need to be prepared for some more backlash and bad press given the decision by Marathon to think it is business as usual. So far the backlash has been isolated but it is difficult to see this not become a political talking point. 1. Marathon licensed an old, generic steroid (DFZ) […]
February 8 Biotech Update
Certainly some news for the sector and not great news but it seems to be having limited impact on the broader sector. In other words, people seem to be seeing GILD problems as isolated to GILD and not the broader sector but that is certainly something we need to watch. 1. I am very glad […]
February 7 Biotech Update
The sector (and I guess you could argue the market in general) has been pretty dull the past couple of days. During the past year these periods of no news led to a slow grind lower but it seems that the sector is holding up well if not grinding a little higher. It is only […]
February 3 Biotech Update
I was correct in my prediction that I would need to take care of a sick child (and still need to do so today but have some more time). It has been an interesting week but pretty much expected. I will circle around to what I saw as the most interesting and important events. 1. […]
January 31 Biotech Update
We had some earnings but the real potential mover of the sector is the meeting this morning with Trump. The headlines are still early but it looks like a net positive for the sector but we will see how it is interpreted. If history repeats these meetings tend to see some minor announced concession in […]
January 30 Biotech Update
Volatility is the name of the game with the daily flow of disruptive executive orders coming out of Washington but despite this the VIX has been going down and the market in general has been holding up well. At some point this disconnect will correct and it will not be a simple gap down (or […]
January 27 Biotech Update
We obviously got some news and price action but most of it is explainable and somewhat predictable. I will highlight some of the news and focus on the BMY report as that seems to have generated the most discussion. 1. We had the buyout of ALIOY a lot sooner than I expected at a lot […]
January 25 Biotech Update
Tomorrow is our big earning day (will not be able to write tomorrow so look for an update on the news Friday) but today we at least had a positive earnings with NVS. While I am sure there will be tradable extreme moves, the sector is going to continue to need positive earnings and data […]
January 24 Biotech Update
Still a slow start to the week especially for an earnings week. I will highlight a couple biotech points and one non-biotech. In terms of the non-biotech, I am becoming increasingly worried about the market in general. Keep in mind that one of the key advisors to Trump is Icahn who noted previously that the […]
January 23 Biotech Update
There is not a lot of new news out this week but this is a week where earnings start, which could pick up the pace a little in terms of fundamental news. Two potential caveats. First, coming on the heels of JPM there is likely not a lot of new information to be provided. Companies […]
January 20th Biotech Update
We are getting some more offerings as is expected post JPM but they seem slower than usual. In any case, we have more large cap pharma news that is pretty meaningful that I want to focus on today. 1. BMY noted last night that they will not be pursuing accelerated approval for front line NSCLC […]
January 18 Biotech Update
We have some news to talk about that seems to be a net neutral but in terms of individual stocks are likely meaningful. I also do not want to beat a point into the ground but I read an article that interviewed some republican legislators, who seemed to imply I was correct about Trump to […]
January 17 Biotech Update
The sector appears to have shrugged off (relatively speaking as to what could have happened) the recent Trump noise on the industry and likely for good reason. It is only a matter of time before the market learns that the President-elect is likely a lot more bark than bite and in the case of the […]
January 13 Biotech Update
JPM is over and I am back. It is a lot to digest, so I will do some broad highlights today and then get more into details on Monday. To be honest, there is actually less to digest than previous years and most of the presentations were webcast but there is some interesting colors that […]
January 9 Biotech Update
I am getting ready to head out to JPM but I wanted to have a quick JPM note this morning. In general, the news has been a little slow as compared to expectations but certainly bullish. I will highlight a couple of the more important stories. 1. We have almost $6B in deals in one […]
January 6 Biotech Update
News continues to come in (both expected and unexpected) and the sector remains strong into JPM. Usually there is a tailwind JPM week that can last a little but eventually all the secondaries that come after JPM stall the momentum. Last year was obviously an exception to that pattern but it seems (at least so […]
January 5 Biotech Update
News is starting to pick up as we approach JPM. This should continue through the weekend. There has not really been anything dramatic today as these early birds tend to be companies that would be overwhelmed by the bigger announcements expected closer to JPM. All in all, the net-net of news this morning has been […]
January 4 Biotech Update
The year continues at two for two with another trial failure but so far the market is shrugging it off. It is not surprising as expectations build for JPM. Usually the Monday of JPM is filled with news but it has been creeping forward a little as some companies are releasing news the week before […]
