Biotech Investor
@learnbiotech
Followers
2,768
Following
326
Media
677
Statuses
1,332
Learn to invest in biotech like the professionals from a former biotech executive and investment banker. For education purposes only. Course on Thinkific
Joined June 2021
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
LINGORM LOVE YOUR SKIN
• 321601 Tweets
Manchester United
• 132504 Tweets
Martinez
• 86837 Tweets
De Ligt
• 83814 Tweets
Mazraoui
• 81840 Tweets
#พรชีวันEP7
• 65870 Tweets
RECAP BLANK SS2EP2 X FAYE YOKO
• 44121 Tweets
FB TALK X PHI SEOUL
• 42115 Tweets
Leeds
• 38008 Tweets
ハートの日
• 37288 Tweets
Ten Hag
• 28842 Tweets
Evans
• 25361 Tweets
#まぁいっかでいっか
• 21854 Tweets
Recep Tayyip Erdoğan
• 17785 Tweets
リゼロコラボ
• 14512 Tweets
Maguire
• 13879 Tweets
#掛橋沙耶香
• 11887 Tweets
女子卓球
• 11567 Tweets
ブレイキン男子
• 11444 Tweets
A reason to love
#biotech
is for the rare instances when a company approaching the end (low stock price; near "death") can generate >20x return in a few, or even 1 year!
Here are some examples:
Who will be next?
#learnbiotechinvesting
#investing
#BiotechPrometheus
21
19
118
Reminder: Drug development is hard. People think it's linear, but it's not
Here are schematics of what most people think, what it is in reality, & modifications for small or large molecules
Investors take note: all must work to MAKE a drug, but almost any step can BREAK a drug!
0
10
67
A reason to love
#biotech
is for the rare instances when a co approaching the end (low stock price; near "death") can generate >20x return in a few, or even 1 year!
Here are some examples:
h/t:
@AndyBiotech
for most of the data
#learnbiotechinvesting
#investing
#BiotechPrometheus
1
10
66
Drug development is hard. People think it's linear but it's not.
Here are schematics of what most people think, what it is in reality, and modifications for small large or molecules
Investors take note: all must work to MAKE a drug, but almost any step can BREAK a drug!
0
11
57
Reminder: Drug development is hard. People think it's linear, but it's not
Here are schematics of what most people think, what it is in reality, & modifications for small or large molecules
Investors take note: all must work to MAKE a drug, but almost any step can BREAK a drug!
1
8
44
How to get from prevalence (# people with a disease) to annual revenue? Here's a simple example:
US pop -> est # with disease -> those that seek treatment -> severity -> those that get your drug
Then price x compliance x gross2net x
#PoS
#learnbiotechinvesting
#BiotechPrometheus
4
4
37
Investors take note:
The
#fibrosis
market is a multi-$B market (>$7B in 2024) since there's commonalities across multiple indications, the patient populations are large, and few good treatments exist
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
7
34
Investors take note:
The
#fibrosis
market is a multi-$B market (>$7B in 2024) since there's commonalities across multiple indications, the patient populations are large, and few good treatments exist
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
4
34
Investors shouldn't forget that
#biotech
& healthcare are small compared to
#tech
Enterprise values:
Global biotech (ALL): $233bn
Top 5 HC: $2,200bn
Top 5 Tech: $10,700bn
Even though HC is >20% of US GDP vs 7% for tech
#learnbiotechinvesting
#investing
#BiotechPrometheus
1
7
34
Reminder: Drug development is hard. People think it's linear, but it's not
Here are schematics of what most people think, what it is in reality, & modifications for small or large molecules
Investors take note: all must work to MAKE a drug, but almost any step can BREAK a drug!
3
4
31
Incorporating Probability of Success (PoS) is one of the unique aspects of biotech valuation investors have to be aware of.
It tries to factor development risk into revenue and cost assumptions.
Here is a table of PoS values:
2
7
32
Investors take note:
The
#fibrosis
market is a multi-$B market (>$7B in 2024) since there's commonalities across multiple indications, the patient populations are large, and few good treatments exist
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
6
32
Adding Pfizer $PFE acquisition of Trillium $TRIL to the list.
Pfizer on the list now 3 times
Any others that I'm missing?
h/t
@Pharmdca
@AndyBiotech
for some of the data
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
6
11
31
Biotech investors take note. Blockbuster drugs drive
#pharma
.
From 2011-2020, all blockbuster were profitable & no low selling drugs were
No immunology blockbusters in the time frame but there are now
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
5
31
Investors must consider patient populations to assess revenue opportunity, which implies valuation
In general, higher response rates (ORR) are in smaller patient populations
The outsized opportunities are in the top right of the graph
#learnbiotechinvesting
#BiotechPrometheus
4
7
30
Note that
@RecursionPharma
$RXRX is one of the top 20 entities GLOBALLY in terms of $NVDA A100 clusters (compute power). That's above all other healthcare companies!
Source:
@stateofaireport
#GoBigOrGoHome
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
5
4
29
Adding Gilead's $GILD acquisition of CymaBay $CBAY to the list
From the intraday low of $1.67 on 11 May 2022 to the proposed acquisition price of $32.50, investors got a 19.5x return
Note $GILD & $PFE appear twice
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
9
27
Here's some data for investors when trying to benchmark the costs of pivotal clinical trials (2015-2017)
You can see it varies by Therapeutic Area
Remember, good clinical trials CANNOT be done on the cheap!
If anyone has updated numbers, please share!!!
#BiotechPrometheus
0
6
28
LBI and others reference the importance of having "specialist" investors in a stock and how that correlates with performance and likely acquisition.
But who are these investors? Helpful list with
#AUM
from
@Stifel
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
4
27
When thinking about valuing biotechs, especially those which are not yet profitable, a probability adjusted discounted cash flow model is perhaps the most important methodology
#DCF
#PoS
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
6
26
A successful Phase 2 drug may still fail in the all-important Phase 3
Investors: be aware of these reasons (not exhaustive):
- different trial design
- different patient population
- standard of care has changed
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
8
26
Investors should stay on top of new technologies in biotech. Though
#geneediting
is new, there are multiple methods in public companies to edit the genome at the DNA level:
#CrisprCas9
,
#BaseEditing
#PrimeEditing
Here is a quick description of each
1
2
25
1/7 For investors analyzing oncology clinical data, you will often come across various types of plots: waterfall, spider, swimmer, Kaplan-Meier, and Forest
Here's what they are along with the pros and cons of each 🧵
1
2
23
A well-known tail-wind for
#biotech
is the need for pharma to replenish their pipelines. One route is through
#M
&A, and pharma has >$500B of firepower
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
25
Here's some data for investors when trying to benchmark the costs of pivotal clinical trials (2015-2017)
You can see it varies by Therapeutic Area
Remember, good clinical trials CANNOT be done on the cheap!
If anyone has updated numbers, please share!!!
#BiotechPrometheus
0
1
24
A successful Phase 2 drug may still fail in the all-important Phase 3
Investors: be aware of these reasons (not exhaustive):
- different trial design
- different patient population
- standard of care has changed
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
24
When thinking about investing in a
#biotech
investors should think about not only the TOTAL revenue opportunity of the therapeutic area (TA), but also how QUICKLY that TA is expected to grow
Obesity & onc are growing fast
#learnbiotechinvesting
#investing
#BiotechPrometheus
0
5
24
As we say here often: "A press release is a marketing document, an SEC filing is a legal document"
Read the SEC filings!
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
24
Here's some data for investors when trying to benchmark the costs of pivotal clinical trials (2015-2017)
You can see it varies by Therapeutic Area
Remember, good clinical trials CANNOT be done on the cheap!
If anyone has updated numbers, please share!!!
#BiotechPrometheus
2
7
23
A successful Phase 2 drug may still fail in the all-important Phase 3
Investors: be aware of these reasons (not exhaustive):
- different trial design
- different patient population
- standard of care has changed
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
22
Many recent approvals from large pharma are for drugs originally developed by biotechs
Investors take note of which pharma companies owe their approvals to internal development or external innovation
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
3
3
22
Investors, remember that the FDA puts out a wealth of information about drug candidates ahead of approval
A serious investor MUST read these!
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
22
Investors should understand the
#FDA
regulatory process well. Here is a quick summary.
At each step investors should ask themselves if the company is developing things in a way that will satisfy the FDA.
Until a drug is approved the FDA is the most important decision maker
1
1
22
Investors looking for a buyout of their biotech company should remember that late-stage and commercial companies have always been the main targets for
#pharma
. Data skewed by $100M min cutoff
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
1
21
Investors should know about the overall FDA approval process & note the nuances between Phase 3 data & approval
When reading PR updates, pay attention to language. For example, "submitted" is NOT the same as "FILED"
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
2
20
Another reminder for investors: always benchmark data against competitors
Looks like $LLY may have the best
#NASH
/
#MASH
efficacy
But nuances in trial design, tolerability & patient populations must also be considered
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
3
21
For
#biotech
investors looking at small cap stocks (<$100M in market cap), make sure "specialist" ownership is >50%
That group did very well in 2023 while companies >$100M with low specialist ownership lost value
h/t
@Stifel
#learnbiotechinvesting
#investing
#BiotechPrometheus
3
1
21
When thinking about valuing biotechs, especially those which are not yet profitable, a probability adjusted discounted cash flow model is perhaps the most important methodology
Though it too has drawbacks
#DCF
#PoS
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
1
21
Investors must consider patient populations to assess revenue opportunity, which implies valuation
In general, higher response rates (ORR) are in smaller patient populations
The outsized opportunities are in the top right of the graph
#learnbiotechinvesting
#BiotechPrometheus
2
1
20
Note that
@RecursionPharma
$RXRX is one of the top 20 entities GLOBALLY in terms of $NVDA A100 clusters (compute power). That's above all other healthcare companies!
Source:
@stateofaireport
#GoBigOrGoHome
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
5
21
Product differentiation is more important than classical drug models indicate. First-in-class will retain larger share if later entrants are not differentiated while a differentiated drug will gain outsized share even if a later entrant
h/t
@Prof_Oak_
#learnbiotechinvesting
1
2
21
Many recent approvals from large pharma are for drugs originally developed by biotechs
Investors take note of which pharma companies owe their approvals to internal development or external innovation
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
20
Understanding the patents which protect a drug is essential to determine the drug's revenue opportunity and therefore value
There are 3 main types, with composition of matter being the most important
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
2
19
Note
@RecursionPharma
$RXRX is now in the top 10 entities GLOBALLY in terms of $NVDA H100 GPUs (compute power). That's above all other healthcare companies!
Source:
@stateofaireport
@nathanbenaich
#GoBigOrGoHome
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
3
19
Investors, remember that the FDA puts out a wealth of information about drug candidates ahead of approval
A serious investor MUST read these!
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
19
Investors should stay on top of new technologies in biotech. Though
#geneediting
is new, there are multiple methods in public companies to edit the genome at the DNA level:
#CrisprCas9
,
#BaseEditing
#PrimeEditing
Here is a quick description of each
0
0
18
Note
#biotech
investors: Average annual return of all biotech stocks from 1980-2015 over a 5-year period (14%) has beaten that for pharma (13%) and the overall market (11%)
Be smart, take the course, and keep the faith!
#learnbiotechinvesting
#BiotechPrometheus
2
6
17
Great post by
@yaireinhorn
on the troubles facing
#pharma
. One temporary fix is buying innovation from
#biotech
.
Pharma uses many of the same sources and techniques to assess biotechs as investors do
1/Another interesting article-in this week’s
@barronsonline
, provides an accurate description of the current problematic situation of the big Pharma companies & their lack of success in addressing the potential black swan Patent cliff scenario. $XBI $PFE $JNJ $BMY $SNY $LLY $NVS
6
26
88
1
4
18
For a $100k list-price drug, a company would see $77k for oncology but only $24k for a diabetes drug!
Most onc drugs have a higher list price than diabetes drugs to begin with.
Investors need to consider this in their models
#learnbiotechinvesting
#biotech
#BiotechPrometheus
4
0
18
A successful Phase 2 drug may still fail in the all-important Phase 3
Investors: be aware of these reasons (not exhaustive):
- different trial design
- different patient population
- standard of care has changed
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
0
18
When investors evaluate a company developing AAV gene therapies, it's helpful to check that the organ that needs to be treated is targeted by the specific AAV serotype that is being used
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
0
18
1/7 For investors analyzing oncology clinical data, you will often come across various types of plots: waterfall, spider, swimmer, Kaplan-Meier, and Forest Here's what they are along with the pros and cons of each 🧵
2
2
18
Investors should remember to look broadly at treatments that might be competitors
Here is a landscape of drugs that seek to reduce autoantibodies, constructs involved in many different diseases
Note the multiple mechanisms, approaches, modalities, etc.
#learnbiotechinvesting
1
3
17
Reminder: Drug development is hard. People think it's linear, but it's not
Here are schematics of what most people think, what it is in reality, & modifications for small or large molecules
Investors take note: all must work to MAKE a drug, but almost any step can BREAK a drug!
1
6
17
You'll often see ORR quoted or displayed for oncology clinical trial results.
Here's what the CRs/PRs/SDs mean at a high level
I'm using RECIST v1.1 definitions
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
1
15
While most drugs are inhibitors/antagonists, investors should remember that enhancers/agonists can also be drugs, often with opposite effects
Here are PD-1 agonists drugs in development for autoimmune diseases
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
3
17
Reposting with today's Vertex $VRTX acquisition of Alpine $ALPN
Bloomberg wrote about a deal this afternoon
Turns out if
@Bloomberg
names a specific buyer or "sale is near" there's 83% chance of sale in next 12 months
Their reporters are plugged in!
#learnbiotechinvesting
0
1
16
Investors need to think broadly about next technologies and when they might start making an impact
Gene editing is generating significant excitement in the near term (within 3 years)
@GeneInvesting
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
0
17
LBI and others reference the importance of having "specialist" investors in a stock and how that correlates with performance and likely acquisition.
But who are these investors? Helpful list with
#AUM
from
@Stifel
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
2
16
Seven new modalities have been approved in the past 10 years in the US
Innovation is happening quickly and regulators are responding
Investors need to stay on top of these fast moving events
h/t:
@a16z
0
0
16
With the IPO market coming back Pitchbook has highlighted 2 biotech companies that are "ones to watch" in 2024
Most of these companies have $B valuations. Will those valuation hold up in the public markets?
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
16
Investors should beware of drug revenue forecasts. They're often wildly off, either too high or too low
That will impact your analysis
This is from 2013. If there's more recent data, please add source below
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
2
16
Biotech investors know the importance of probability of success
#PoS
But it isn't static. Here's how it changed over time by Phase
Source: iqiva
Steady decline from 2015-2021 but now an uptick. Why is that?
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
0
16
There are many ways to drug a pathway to get clinical benefit
Good investors will balance the pros & cons of each
How would you evaluate these drugs while doing your due diligence?
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
2
15
Another reason a P3 study can fail while a P2 was successful is that P2 placebo groups, with narrower eligibility criteria & fewer patients, often have more variable placebo-adjusted effects
Use Phase 3 data, often on drug labels, to make comparisons; They're more consistent
0
0
15
Biotech investors must keep patent life in mind when thinking about drugs
This dynamic will always be a major undercurrent in the industry
$145bn of revenue at risk in US alone from patent expiries over the next 5yrs
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
1
15
Investors should take an unbiased view of data and not only listen to management. Ask yourself: Is the drug doing what it's supposed to do?
Look for: target engagement, proof of mechanism, and proof of concept
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
2
15
Biotech investors take note. Blockbuster drugs drive
#pharma
.
From 2011-2020, all blockbuster were profitable & no low selling drugs were
No immunology blockbusters in the time frame but there are now
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
5
15
Orphan Drugs are still big business for biopharma. $JNJ expected to dominate through 2028 mainly through Darzalex in oncology
However, $NTLA & $CRNX have amongst the highest NPV
#orphandrugs
in development
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
0
14
Reminder: Drug development is hard. People think it's linear, but it's not
Here are schematics of what most people think, what it is in reality, & modifications for small or large molecules
Investors take note: all must work to MAKE a drug, but almost any step can BREAK a drug!
1
4
16
Investors should keep in mind that a drug on the market after an accelerated approval can later be withdrawn if the confirmatory study doesn't show favorable risk/benefit on an approvable endpoint
Here are recent oncology examples but it also happens in other TAs (women's health)
1
0
15
When talking
#valuation
,
#biotech
investors must clarify: market cap (MC) or enterprise value (TEV)?
Why? Here's a primer
What about a NEGATIVE TEV? It means the business is worth LESS THAN ZERO! Even with +MC!
Shut it down and return cash to
#investors
?
#learnbiotechinvesting
2
0
15
When looking at companies with novel modalities, like cell therapy, investors need to pay even more attention to manufacturing & CMC
There are not a lot of experts with these modalities & that matters to regulators
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
0
15
How to get from prevalence (# people with a disease) to annual revenue? Here's a simple example:
US pop -> est # with disease -> those that seek treatment -> severity -> those that get your drug
Then price x compliance x gross2net x
#PoS
#learnbiotechinvesting
#BiotechPrometheus
2
0
14
For investors looking at
#immunology
drugs, especially
#rheurmatoidarthritis
#RA
drugs, it's important to understand the treatment paradigm & landscape
Most patients start on cheap generics
Where will your drug fit?
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
0
14
Drug approvals are one of the most important events for
#biopharma
companies
Knowing when these events may happen is critical for investor success
Here is a list of the expected October approval dates, known as
#PDUFA
dates
1
3
13
Investors should understand the
#FDA
regulatory process well. Here is a quick summary.
At each step investors should ask themselves if the company is developing things in a way that will satisfy the FDA.
Until a drug is approved the FDA is the most important decision maker
0
2
14
Here's some data for investors when trying to benchmark the costs of pivotal clinical trials (2015-2017)
You can see it varies by Therapeutic Area
Remember, good clinical trials CANNOT be done on the cheap!
If anyone has updated numbers, please share!!!
#BiotechPrometheus
0
3
14
Incorporating Probability of Success (PoS) is a unique aspect of
#biotech
valuation investors must be aware of.
It tries to factor development risk into revenue and cost assumptions.
Here is a table of PoS values:
#learnbiotechinvesting
#investing
#BiotechPrometheus
1
3
13
Investors should be aware of "p-hacking" strategies used in data analysis:
For biotech, I have come across
#s
3, 6, 8-11 too often
Hard to know without raw data but be prepared to ask and investigate where possible!
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
2
14
An
#SOTP
(Sum of the Parts) analysis is an important way to value a company w/multiple opportunities at different stages of development. Investors can see what the estimated relative value is on a per share basis. Ex for $FGEN
#learnbiotechinvesting
#investing
#BiotechPrometheus
0
1
14
Lots of recent approvals from large pharma are for drugs originally developed by biotechs.
Investors take note of which pharma companies owe their approvals to internal development or external innovation
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
1
14
Biotech investors know the importance of probability of success
#PoS
But it isn't static. Here's how it changed over time by Phase
@iqiva
Steady decline from 2015-2021 but now an uptick. Why is that?
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
3
14
@BioStockAnalyst
Speaking of the specialist investors, here’s a list of the capital returned thorough M&A as of the end of Sept. Not all of these are specialists but you can see them well represented
2
2
13
When thinking about valuing biotechs, especially those which are not yet profitable, a probability adjusted discounted cash flow model is perhaps the most important methodology
Though it too has drawbacks
#DCF
#PoS
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
1
13
There are no short cuts to good due diligence.
A lot of the information is out there. It takes time and dedication to go through it all
People ask me "How do you do DD?"
Here is a good way to show an example. Today I am starting DD on $ABSI. I think I will make a thread that goes through what I am doing.
2
2
62
1
1
13
Happy New Year! Investors will see lots of references to the JP Morgan Healthcare conference, JPM,
#JPM2024
, etc
But what is it? Here's a quick overview for those new to the field
There will be lots of news to sift through. Enjoy!
#learnbiotechinvesting
#BiotechPrometheus
0
1
13
For a $100k list-price drug, a company would see $77k for oncology but only $24k for a diabetes drug!
Most onc drugs have a higher list price than diabetes drugs to begin with.
Investors need to consider this in their models
#learnbiotechinvesting
#biotech
#BiotechPrometheus
3
3
13
Investors should assess if evidence exists that interrogating a certain pathway has resulted in good (or good enough) efficacy
If it doesn't, probability of success is likely lower
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
1
13
Biotech investors take note. Blockbuster drugs drive
#pharma
.
From 2011-2020, all blockbuster were profitable & no low selling drugs were
No immunology blockbusters in the time frame but there are now
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
2
13
Investors must understand the patents which protect a drug. It's essential to determine the drug's revenue opportunity and therefore value
There are 3 main types, with composition of matter being the most important
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
1
13
Significant valuation for private companies raising in 2023. They are still private but will likely be the first ones out when the
#IPO
window opens
Will these valuations hold up for their next round?
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
2
1
13
Investors must weigh a crowded indication against unmet need & total opportunity
#AtopicDermatitis
market may reach $23BN in 2027 with best current treatment only benefiting <half of patients
That explains all the compounds
#learnbiotechinvesting
#investing
#BiotechPrometheus
2
0
13
Its useful for
#biotech
#investors
to see who the successful funds are
Paradigm, Commodore, Deep Track and Avego have performed well during the 2 years of biotech bear markets
Worthwhile seeing what they are invested in
#learnbiotechinvesting
#investing
#BiotechPrometheus
1
1
13
LBI and others reference the importance of having "specialist" investors in a stock and how that correlates with performance and likely acquisition.
But who are these investors? Helpful list with
#AUM
from
@Stifel
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
2
13
Fantastic for
#investors
to have hard data around this. Thanks for sharing
@Prof_Oak_
Do you have the full source of this report to share?
What's driving that bimodal distribution? Differentiation, or lack thereof
Order of entry is incredibly important for undifferentiated drugs. Conversely, it plays a far lesser role for differentiated products. In both cases, avg. benchmarks under / overstate potl. share (3/4)
3
1
56
2
1
13
For generic drugs <1/3 of the price goes to the manufacturer for the "average" sale. The rest goes to other parties involved, including >40% to the
#PBMs
For reference, the "average" sale is $22.50
Less relevant for innovative biotech but something investors should know
1
0
13
Investors should keep in mind all of the events outside of the company of interest that could impact the stock price. They can have a major impact
Here are just a few of the main ones:
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
1
2
13
With
#neurology
a hot area in biotech development, it's important for investors to know how competitive a particular sub-vertical is
Lots of trials in
#Alzheimers
&
#Parkinsons
. Neurodegeneration is dominant
But depressions and schizophrenia trials are also common
1
0
13
Intellectual property
#IP
& probability of success
#POS
are unique to biotech valuations. These are industry-specific
Investors must embrace these facets of biotech if they want to be successful
#learnbiotechinvesting
#biotech
#investing
#BiotechPrometheus
0
1
13