Eupraxia Pharmaceuticals Inc. (EPRX) is a clinical-stage biotechnology company headquartered in Victoria, British Columbia, Canada. The company focuses on developing locally delivered, extended-release alternatives to currently approved drugs. Their goal is to provide targeted, long-lasting activity with fewer side effects. Eupraxia’s lead product candidate, EP-104GI for treating eosinophilic esophagitis (EoE). EoE is a chronic, immune-mediated […]
October 3rd Biotech Update
I am really torn on the market right now. There is not a lot going on in biotech to make it really capable of swimming against the current (if the broader market weakens) and so I think macro really matters. I want to focus on two macro issues that I think are weighing on the […]
September 29th Biotech Update
As much as we had a good day early this week, the market looks really tenuous. I have seen some statistics about position that look quite bullish (i.e. investors are extremely under-invested) but I have also seen some statistics that show the interest rates have move very fast and the market needs to catch up […]
October 13th Biotech Update
Well, this week is not a disaster and that is positive. We have not built any momentum to the upside but we also do not seem on the verge of breaking down. We are inching closer to a seasonally positive period for the sector and so treading water and forming a base is not bad. […]
July 22nd Biotech Update
I am back and it is going to take a little bit of time for me to catch up and get a sense of what the sector has been doing. It seems like I took vacation at the right time as I did not have to see the downtrend that appears to have developed. When […]
November 5th Biotech Update
While we clearly do not have a clear winner from the election, it at least looks like the market has decided where the election is going. If there was uncertainty over the outcome, then the market would not have rallied and volatility would not have dropped. Given the pace of vote counting, it looks like […]
November 2nd Biotech Update
This is the literal calm before the storm. The election is tomorrow and the adu AdCom is Friday. Plus, we still have a number earnings coming this week as well. Even with all of that news the week starts off with basically nothing that meaningful so there is not much to say. That is not […]
October 29th Biotech Update
As awful as the day was yesterday, the sector is not quite broken. This is not to say that things look great but a reversal and green close today could save it. Another day lower and we can call the trend as it would be a potentially lower low establishing. I am not very optimistic […]
October 28th Biotech Update
Not a great start to the week (or continuation of the week) as the market and sector continue to struggle. Given all of the potential news makers in the next couple weeks it is difficult to completely attribute the move solely to one factor. My mantra has been that the trend is your friend and […]
April 21st Biotech (and MLP) Update
The pattern (losses after hours and gains during the day) held yesterday and we are testing it again today. It is odd and not like some kind of trend we see on a chart, so it is not clear to me what the signs would be that the pattern will end. Plus, I am not […]
April 20th Biotech (and MLP) Update
So it looked like last week finally decided the next move would be higher but this morning we start with some weakness. I would not be surprised, however, to see the market to reverse during the day. I saw an analysis that showed almost all of the downside on the selloff the past couple months […]
April 17th Biotech (and some MLP) Update
It took the whole week but perhaps we are finally get the move out the of range. I say maybe even though we are having a strong move on what could be good fundamental macro news. That being said I would not assume that this is real until we see the close. It would certainly […]
April 16th Biotech Update
It is a week of indecision despite having thought it would be a week of decision. It happens I guess but we are whiplashing higher and lower but, honestly, if I ignored the larger macro context and just looked at the XBI the chart the past couple weeks, it seems clearly in an uptrend. We […]
April 15th Biotech Update
Well, today is a day where we should have turned off the alarmed, rolled over in bed, and went back to sleep. Certainly not a good start after what was a pretty strong Tuesday. Nothing has really changed fundamentally, so it seems investors are trying to figure out where the next move will and pile […]
April 13th Biotech Update
A mixed start to the week, which seems fitting given the technical analysis that Joe published last night. I highly recommend that you read it as it lays out the next move in the market and I agree that we seem to be at a decision point. Perhaps we do not get the decision this […]
April 9th Biotech Update
We live in a macro world for sure. Another strong day as FOMO is coming to the forefront driving the market higher and higher. Is the market mis-pricing risk at this point? Perhaps but looking at the FXI it bottomed pretty early into their epidemic and that is probably a good analogy for the US […]
April 8th Biotech Update
Yesterday was interesting in that we had that reversal from the morning highs but it did not seem to spook the bulls as much as I would have thought. Today we have another move higher in the morning but let us see if this one actually sticks. It seems like we might be at some […]
April 7 Biotech Update
So the crisis is over! Or at least that is the way the markets are behaving. It is pretty clear that we are having a reversal of the COVID sell-offs. The market is moving higher including and perhaps being led by regional banks and all those COVID related names (whether it be treatments, PPE, or […]
April 6th Biotech Update
A good start to the week for sure. While it is a nice move higher, we remains at critical levels that could be resistance. For instance $80 on the XBI will likely be important to break above. It would be something to move above today given that we only reached it on the big spike […]
April 3rd Biotech Update
Guess what? Job market sucks. The market dipped a little on that news which I find a little surprising as nothing about it should have surprised. What was interesting was that the US indicated that its oil producers were willing to cut production as a carrot to get Russia on board. I do not remember […]
