There was a lot that happened last week that I will slowly get to go through it the next week but on a big picture macro front, I actually think this is going to end up generating some nice values for long term investors. When biotechs get hit in the macro mess it is not […]
SGYP – Cautiously Optimistic On Synergy Pharmaceuticals
We revisit Synergy Pharmaceuticals as the company prepares to initiate a Phase III Chronic Idiopathic Constipation (CIC) study of lead drug plecanatide later this year. Top-line results from the Phase II/III trial were released January 2 early this year, followed by complete data reported at the Digestive Disease Week convention in May. As we had […]
BMY – In A Consolidation Mode
Bristol-Myers Squibb Company (NYSE: BMY) BMY had an amazing run ahead of ASCO-2013 that left many well-planned traders very happy. The stock found strong support near the 50-Day Moving Average around $39.50 where many traders(ourselves included) started initial positions. The stock had a great run into the ASCO abstracts release on May 15th, moving roughly […]
ALNY – Alnylam’s busy summer
Some viewed 2012 as a year of redemption for the field of RNA therapeutics with several notable successes in the sector. This year will likely also mark another important milestone for this specialty sector of the biotech industry. The next 30 days should be rather interesting for Alnylam Pharma (NASDAQ:ALNY) and to some extent Tekmira […]
June 14- Midday
This is midday today as I will be out of my office for the rest of the day. So an early surprise. A very odd day today in the market. Biotechs really seemed to lag for some reason even when the market was not a real drag. Let’s see how we end the day. 1. […]
AEGR – Quick commentary on Aegerion
Aegerion has been one of the best performing stocks over the past 6-12 months. This has been driven by the value creation of Juxtapid (lomitapide), a small molecule microsomal triglyceride transfer protein inhibitor, was approved by the FDA and EMA adjunct to a low-fat diet and other lipid-lowering treatments, including LDL apheresis where available, in […]
ABBV – A look into Abbvie
with Patrick Crutcher and Jason Chew Abbvie (ABBV) presented data on its oncology candidates at ASCO meeting and updated investors at Jefferies Healthcare Conference last week. The stock, like other fellow big caps, has had a considerable run over the past few months and is up 25% YTD, after the split from Abbott (ABT). On […]
June 13- EOD
Was a quiet day on the news front, so I will keep this short(er). I am just getting a sneaking suspicion that we are heading into another period where macro rules and biotechs will have a tough sledding but they have been resilient so far but I would be careful. Even when the market reversed, […]
June 12- EOD
It was sort of an odd day in the market. It actually felt worse than it was earlier in the day, partly because we started with some strength and then sold off. I have a hard time figuring if biotechs were relatively strong or weak. For the most part, it seemed like they were weaker […]
June 11-EOD
It was an odd day in the market with weakness early followed but a rally in the afternoon that made it look like we would get to unchanged (or even green). Then we sold off in the afternoon only to make another run at green in the last hour. On the positive side, it was […]
June 10- EOD
It was a mixed bag today for biotechs with some very strong performers (TSRX and ACAD to name a few) as well as some laggards (many of the oncology companies). In general, however, it seemed like biotechs tended to be relative underperformers to the broader market. 1. Iclusig sales continued their decline from last week […]
Week’s Option Activity (6/3~6/7)
The following stocks had notable activity in their options during the past week: $AFFY (6/3): 3,000 JAN14 2.0 strike Calls were purchased (stock at $2.08) for a debit of 0.45 or $135,000. Buyer makes money if stock is greater than $2.45 by expiration. Stock was subsequently de-listed from the NASDAQ on June 6. Oops. $CHTP […]
Impressions from ASCO 2013 Days 3 and 4
Having survived ASCO 2013, we wanted to review some of the main data from Days 3 and 4. After a very long first 2 sessions, Day 3 and 4 were less data heavy, however, the outcomes from some of these had a dramatic effect for some (like CLVS, INFI, TSRO and SNTA). PD1’s belle of […]
June 7- EOD
[This was meant to be posted Friday afternoon but did not seem to go through, so you get a bonus EOD of today] I do not think there is not much out there to add from today. I will touch on a couple of themes but it was generally a bounce back day for the […]
Biggest takeaway from ASCO 2013
With wrapping up our coverage of the 2013 annual meeting of the American Society of Clinical Oncology, I feel compelled to elucidate a point that we tried to hammer home with our preview of this meeting. I attended at least a dozen presentations covering various indications, but nothing compared to the sessions on the developments […]
June 6- EOD
Perhaps we had a turnaround Thursday but could of course all be crushed by a bad jobs report (or perhaps a good jobs report- you never know in this market). 1. There is some additional CELG news that has not been getting a lot of attention. As way of background, CELG 2017 guidance has about […]
June 5- EOD
Rough day in the market today and biotechs were clearly not immune. Aside from the general downtrend there were some stock specific stories. 1. There was some strategic restructuring at AVEO. This is too be expected and should cut down on the cash burn as investors wait to see if tivozanib will ever get to […]
June 4- EOD
Quite day, more or less. Some interesting ASCO news with some larger pin action. Other than that I did not see anything of particular interest. Bios were generally weak and perhaps this is the start of the long awaited biotech correction but we have had many false starts before. What is different this time is […]
June 3- EOD
Happy mid-ASCO (although most of the data is already presented). Some interesting ASCO and, surprisingly, non-ASCO stories. 1. I added to my SGEN position today (at $33.67). It has been under pressure recently and I’ve been looking to add over the summer in anticipation of HL data at ASH. I am intimately aware of the […]
