Could gene therapy become biotech’s growth driver in 2017?

Despite bouncing off a 2-year low, biotech is still an unpopular sector and investors are rightfully concerned about its near-term prospects. Recent drug failures, growing pricing pressure and the potential impact of biosimilars all contribute to the negative sentiment, but the main problem is the lack of growth drivers for the remainder of 2016 (and potentially 2017). Continue reading

Biotech portfolio update – Sage, Marinus and Immunogen

A new lucrative indication for Sage (and potentially Marinus)

Last week, Sage (SAGE) surprised the market by announcing preliminary but impressive results for SAGE-547 in patients with postpartum depression (PPD, also known as postnatal depression). Four patients with severe PPD experienced a dramatic improvement in their depression score from an average of 26.5 to 1.8. In other words, these patients entered the study with a severe debilitating depression and became symptom-free within 2-3 days. Despite the preliminary nature of the results, they generated a clear efficacy signal that merits evaluating SAGE-547 in a randomized trial, to be started later this year. Continue reading

Sage and Marinus – Not the typical CNS story

CNS is probably the toughest segment in the drug industry with a frustratingly low success rate and a diminishing pipeline. This is best exemplified by the disproportionally low number of CNS programs that received Breakthrough Therapy Designation (BTD). Of almost 70 designations, only three (J&J’s esketamine, Neurocrine’s NBI-98854 and Acadia’s pimavanserin) were for CNS indications and all three are hardly as exciting as other BTD drugs (anti-PD-1, CARs, Harvoni etc.). Not surprisingly, there are very few “hot” CNS-related stocks. Continue reading

Will 2015 mark the turnaround for antibody-drug conjugates?

Back in 2010, ADCs were the hottest theme in oncology with the potential to revolutionize cancer treatment. The excitement was based on promising results for Adcetris (Seattle Genetics [SGEN]) and Kadcyla (Immunogen [IMGN]), both of which utilized new and improved ADC technologies. Adcteris and Kadcyla were perceived as the ultimate cancer drugs: They had strong single agent activity and provided meaningful benefit to patients with limited toxicity. All that was left to do was replicating their success with additional antibodies to cover every tumor type. Continue reading

Biotech portfolio update – 2014 summary and 2015 preview

Below is my traditional end of the year summary and a recap of catalysts for 2015. As always, I did my best to cover the most important events, let me know if I missed anything… I would like to use this opportunity and wish the readers of this blog a happy and prosperous new year.

Ohad Continue reading