So today I did a chat on Twitch. If you go to the page there should be a video recording that you can watch. https://www.twitch.tv/chimeraresearch Rest assured quality will improve over time but I sort of like the ability to talk through the issues. Let me know if you have any questions or comments. I […]
January 15th Biotech Update
The snorefest that is JPM continues with no deals and not particularly meaningful company updates. The sector was understandably weak yesterday morning but it had a pretty nice reversal during the day. I am honestly surprised at the strength of the sector given the lack of news. While perhaps strength is not the correct word […]
January 13 Biotech Update
It looks like JPM is going to be a dud. The only deal announced so far with the smallish LLY deal for DERM last week. This has to be one of the weakest news JPM I remember. Add the lack of news with Bernie Sanders recent spike in the political polls and this does not […]
January 10th Biotech Update
We are now ramping up the news with the peak coming Monday. Not many deals announced so far and I suspect we need more for us to get a decent rally next week but it is still early in the JPM news cycle. That being said if Monday morning arrives without more deals (and larger […]
January 9th Biotech Update
I think macro is officially in the background for now. It seems clear the US will not respond and most encouraging is that the US noted that they will not necessarily equate the Iranian proxies with Iran. In other words, everyone is de-escalating. This is not over as economic sanctions remain and that is part […]
January 7 Biotech Update
We remain in the calm before the storm (perhaps both macro and in terms of JPM). I still think the market is underestimating possible Iranian responses and seems to be slightly exhaling in that nothing has happened yet. I too have felt that relaxation but I still cannot believe that Iran would allow the assassination […]
January 6 Biotech Update
I am glad to be back and will be in my usual daily update routine for the foreseeable future. I did not miss a ton of news but we certainly will have some soon enough with JPM next week. Before I left the sector was in a clear uptrend that was unbroken and I noted […]
December 18th Biotech Update
Another slow news day or at least slow trading day. I think the market continues to drift and perhaps we get a large small volume move but markets near yearly highs tend to make marginal new highs. Of course, the marginal new highs are occasionally followed by large moves lower. As such, it might make […]
December 17th Biotech Update
It seems like we are getting into the slow part of the holiday season. News is slowing down as is the trading volume. I suspect we get less and less news as it gets held for JPM (if possible). It would not necessarily be bad for the sector to churn at these levels to build […]
December 16 Biotech Update
We have a decent news morning but I want to focus on three and can do so with a Western theme: the good, the bad, and the ugly. 1. The good: Clearly this is AMRN. We got an early Christmas present with an expanded label. They did not get the primary prevention but also seemed […]
December 13 Biotech Update
There is some news today so I will do a quick Friday note. 1. ATNX had their data and it showed a statistically significant OS improvement. We are getting a little sell the news for a couple of reasons. First, the stock had a good run into these data. Second, the data are not perfect. […]
December 10 Biotech Update
It seems like the sector might breakout and run yesterday morning but it came back to reality in the afternoon. While it would have been nice to see a run, the pullback does not change the trend. Perhaps we will now see a little weakness and pullback to higher lows (as had been the case) […]
December 9th Biotech Update
We have our answer as to the strength of the trend. Positive data are being rewarded (so far) and the perfect storm continues for the sector with not only good data but more M&A. So not only do we need to think about the trend but also whether this is a major breakout as the […]
December 4th Biotech Update
The sector struggled a little and the momentum seems to have paused but we remain squarely within the uptrend. Of course, yesterday saw a ton of secondaries (the most I have seen in a day in a long time) and these tend to occur near the top of a range and not the bottom. It […]
December 3rd Biotech Update
The broader market backdrop is not nearly as positive with some China fears creeping into the market but the sector remains strong. I still think the stock reactions to ASH data this weekend will go a long way in signaling expectations and whether they have become extended. So for me I will be watching not […]
December 2nd Biotech Update
The sector remains strong and we have ASH coming so we could see a run in some names this week. Given the recent strength and the potential run-up (uptrends are prime run-up candidates), I would not be surprised to see a sell the news reaction on ASH data. Expectations are growing with the valuations and […]
November 26 Biotech Update
The trend is your friend and while I expected a news to slow we got an unanticipated surprise. Positive news continues to hit the sector and the trend continues higher. I will never call the end of the trend until it confirmed but we have had a great move and macro has been pretty supportive […]
November 25th Biotech Update
If it were not for some M&A this would be a quiet start to the week. I suspect that in the end it will be pretty low on fundamental news given the holiday week but we are off to a good start. This should provide even more support to the trend and the broken record […]
November 19th Biotech Update
The leak is finally fixed. It only took six hours yesterday and an inadvertent flooding of the laundry room but it is done. Now I need to get the dry wall fixed before being completely done but some progress. Speaking of progress, the sector continues within its trend. It has been grinding higher marking higher […]
November 13 Biotech Update
All three SMIDs this week had positive news although only AMRN really took off on it. Of course, AMRN had the smallest positive move into the week and probably had the highest amount of doubts over the catalyst, so it sort of makes sense. I want to spend today going back over the other two […]
