Still in the choppy sort of market but we are at least holding up. I understand the annoyance that the broader market is doing well and the sector is really lagging from relative sense but when the sector runs it will make up a lot of this underperformance. January was a massive month for follow […]
February 6th Biotech Update
It was a nice day yesterday not because of a massive rally but one where we started solidly red but rebounded into the green. It is always nice to see those reversals and it was not as if it was a quick dip into the red but one that was pretty sustained for most of […]
February 5th Biotech Update
I would not say that we are at the end of the chop for the sector but are probably closer to the end than the beginning. I saw some notes that blamed the lack of rate cuts on the market but I am not sure that is the issue. It is true that rates remain […]
February 2nd Biotech Update
I guess we are not done with rates quite yet. We do seem to be a little sensitive (at least more so than I would have thought). Fed day was not great but as rates fell, the sector did better. I think we are all done with being so tightly correlated with interest rates but […]
January 31st Biotech Update
We seem to be doing a little better today but not really getting any momentum to the upside. We have an upcoming rate decision but I doubt that will be market moving unless the commentary comes out unexpectedly bullish or bearish on rates. I suspect it will be continue to follow the data and while […]
January 30th Biotech Update
A mixed start to the week. Yesterday was quite positive and constructive and today we are giving up most of the gains. We seem to be in a choppy market for the sector and perhaps we are setting up for a more significant trend move (higher or lower) but I still think we are basically […]
January 26th Biotech Update
The sector is bouncing along and while it is underperforming the broader markets, I still see it as digesting the large move at the end of last year. I think this is how the sector works. A long period of underperformance followed by a short burst of large outperformance. It would be less stressful to […]
January 24th Biotech Update
The sector has been dragging for a little. Not really bouncing from the recent selling but also not accelerating to the downside. I still have no real conviction whether or not the next move is another leg lower or a bounce from here. I do have the conviction that even another leg lower does not […]
January 22nd Biotech Update
My call of post-JPM weakness has been accurate and while expected, it is not a great feeling especially with the broader market doing so well. I think we are in a zone where we could find some support, but I am not convinced that this is the level from which we bounce. The post-JPM weakness […]
January 19th Biotech Update
I was expecting weakness and that is what we have. I am not that concerned about the selling and even if it accelerates, I would still see it as typical for this time of year (especially after the strength the sector showed to end the year). There is a large move higher that needs to […]
January 17th Biotech Update
A little bit of expected weakness to start the week. I am not sure how much of a pullback is coming but I still think we are due for one. As I noted yesterday, it is perfectly consistent with previous patterns and this weakness could be more than just a couple of days but weeks […]
Medicenna – Unlocking IL-2 and Other Cytokines’ Immunotherapy Efficacy with Optimized Selectivity, Dosing, and Safety
MDNA.TO (TSX – Canada), MDNAF (OTCQB – USA) Medicenna is a clinical-stage immunotherapy company developing novel, selective IL-2, IL-4, and IL-13 Superkine molecules exclusively in-licensed from Stanford University. The Superkines are engineered versions of naturally circulating immune system cytokines, designed to enhance cancer-killing properties of immune cells while enabling systemic therapeutic dosing by minimizing their […]
January 16th Biotech Update
JPM is over and it was an OK conference. It was not the best with deals but there was a big group right before the conference and so all in it was a hefty amount of deals. The conference appeared one of the more upbeat in recent years and that bodes well. I think we […]
January 11th Biotech Update
JPM has been a little slow on the news front. There were a couple of small deals and some rumors of others, but it really looks like December was the real flood of M&A as opposed to JPM. If we look at the past month or so, then the deals have been quite robust, just […]
January 8th Biotech Update
I got dismissed early for the day from jury duty (have to be back bright and early tomorrow) and so I wanted to get some quick thoughts on the start of JPM week, so I do not get too far behind. The sector started off a little weak but came back strong in the afternoon. […]
Aptose – Management Conference Call Summary
To kick off the new year in 2024, I requested a conference call with Aptose management to seek answers to numerous questions regarding the company, their clinical program, and primarily the financing that is expected to be completed any day. I had Aptose CEO, Dr. Rice and Fletcher Payne, CFO and CBO on the call. […]
January 5th Biotech Update
We are slowing into the end of the week, which makes sense for the sector as we gear up for JPM. We have had a slowdown in the upside momentum but that it not bad as it gives the chart time to reset and work off the overbought conditions. It was an incredibly strong run […]
January 3rd Biotech Update
A decent start to the trading of the year. Are we looking a little toppy? Perhaps. I am not a fan of the sector not ending at the highs of the day. We still were green but we were stronger earlier in the day than later. I would not be stunned if the sector paused […]
January 2nd Biotech Update
A decent start to the new year. We are near the highs for the sector and are setting up a potential breakout. I am not sure that it happens this week but could very well happen with JPM related news starting later this week. I know that JPM starts next week but sometimes companies like […]
December 28th Biotech Update
The sector remains strong. It feels good to be talking about the continued strength longer than one would have expected. I would still be cautious about new positions as the chart looks a little stretched. I do not think we are anywhere near the end of this bull market, but all bull markets need time […]
