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XBI SPDR S&P Biotech ETF
- 90.850
- +1.720+1.93%
Trading Jun 3 12:35 ET
92.975High89.250Low
92.975High89.250Low7.05MVolume89.970Open89.130Pre Close647.33MTurnover9.40%Turnover Ratio--P/E (Static)75.00MShares103.52052wk High--P/B6.81BFloat Cap63.78952wk Low0.02Dividend TTM75.00MShs Float174.706Historical High0.02%Div YieldTTM4.18%Amplitude21.378Historical Low91.813Avg Price1Lot Size
Interesting list of name for the incoming CPI..
$Novavax(NVAX.US)$ $SPDR S&P Biotech ETF(XBI.US)$ $S&P 500 Index(.SPX.US)$
2 biggest deals this yr:
$Vertex Pharmaceuticals(VRTX.US)$ paid $4.9 bil for $Alpine Immune(ALPN.US)$
$Gilead Sciences(GILD.US)$ paid $4.3 bil for $CBAY
Bolt-on deals likely to continue to be the dominant story in 2024, which means we could also see more of this trend...
Last yr 84% of M&A deal dollars were for Biotechs w/ Phase 3 & Marketed assets,
In the first four months of 2024 56% of M&A deal dollar went towards P...
$Pfizer(PFE.US)$ $Dynavax Technologies(DVAX.US)$ $Sandstorm Gold(SAND.US)$ $Bristol-Myers Squibb(BMY.US)$ $SPDR S&P Biotech ETF(XBI.US)$
Assumptions: Overall market is stable and not turning into bear market; US economy no recession; Better to start rate cut in 2024.
$Nasdaq Composite Index(.IXIC.US)$ $S&P 500 Index(.SPX.US)$
M&A in Q1 alone totaled 12 deals for $19.2 bil which is close to the 10 deals for $21.9 bil in all the 1H of 2023...
But one big caveat of this chart, it doesn't include $Pfizer(PFE.US)$ 's $43 bil deal for $SGEN announced in Mar 2023 but didn't close until Dec bc of an FTC challenge,
The biggest biotech M&A deal so far this yr was $Gilead Sciences(GILD.US)$ 's $4.3 b...
Observations from $VINC (-60% AH):
1- When companies tout "strong safety profile", often means efficacy is a big fat zero
2- Phrases like "dose dependent clinical activity" set the bar low
3- "Promising" doesn't necessarily refer to SP
Stay skeptical, my friends.
Mike on biotech's correlation with interest rates:
"Biotech is essentially a call option on $iShares 20+ Year Treasury Bond ETF(TLT.US)$
Biotech bulls need inflation and rates to move lower for resumption of a real bull market.
XBI is likely to remain range-bound - or worse - until inflation convincingly moves lower.
Hopefully we can grind out reasonable returns in the meantime by buying the right stocks, but we will b...
$Merck & Co(MRK.US)$ x $Immunovant(IMVT.US)$
$Eli Lilly and Co(LLY.US)$ x $Cytokinetics(CYTK.US)$ (and soon)
$Regeneron Pharmaceuticals(REGN.US)$ x $Apellis Pharmaceuticals(APLS.US)$ (panache & brash)
$Gilead Sciences(GILD.US)$ x % $Madrigal Pharmaceuticals(MDGL.US)$ (liver king)
$Bristol-Myers Squibb(BMY.US)$ x $Iovance Biotherapeutics(IOVA.US)$ (cell Tx boost needed)
$Eli Lilly and Co(LLY.US)$ x $Merus(MRUS.US)$ (partner n...
– Private Funding –
Clasp Therapeutics
🏦 Launched w/ $150M Series A financing from several investors to develop their T-cell engagers (TCE) pipeline.
Capstan Therapeutics
🏦 Closed $175M Series B financing led by RA Capital Management to support the advancement of CPTX2309, their in vivo CAR-T product candidate.
Engrail Therapeutics
🏦 Closed $157M Series B financing round to advance the development of their therapies.
Pan...
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