IBB News and Press, iShares Biotechnology ETF From 02/08/23

Summary Omeros Corporation's stock has rallied 66% on Feb 6th based on the milestone payment of $200M, which eliminated the potential cash runway overhang some investors were worried about. With the additional $200M cash, now the enterprise value of the company is around $115M, which we...

Summary Galapagos is a Belgiu- based commercial biotech, led by ex-J&J CSO Paul Stoffels. The company holds ~$4Bn cash and currently trading at a negative $1.8Bn enterprise value. 2023 has various clinical catalysts coupled with a potential large-scale M&A, which we believe ...

Summary Verona Pharma is a UK-based biotech with a $1.6Bn market cap developing a phase 3 asset targeting COPD. Ensifentrine is a novel phase 3 inhaled selective dual inhibitor of PDE3 and PDE4 targeting COPD, which is a $10Bn indication with a high unmet need. Verona Pharma has a s...

Summary Biogen's business focuses on developing and commercializing drugs aimed at treating patients living with neurological and neurodegenerative diseases. The company's total revenue was $2,508.5 million in the third quarter of 2022, down 9.7% from the previous year. The decline ...

Summary We initiated KemPharm with a Sell rating in March 2021; since then, the stock has declined >40%, and now the stock is trading at an attractive enterprise value of $130m. AZSTARYS targeting ADHD has been approved, and it no longer contributes much to the stock price at this po...

Summary MorphoSys AG is a German commercial-stage biopharmaceutical company founded in 1992 with more than 100+ pipeline candidates. We believe MorphoSys's two key value drivers are a) monjuvi and b) pelabresib. We expect Monjuvi's sales to continue to falter. There are no short...

Summary Genmab (GMAB) is a Danish commercial biopharma company with a leading technology and track record in innovative antibody-based therapeutics. Darzalex royalty revenue is the key driver of the stock price and the bedrock of Genmab's strong performance during 2021-2022. We expe...

Summary Vera Therapeutics has released an updated interim PP analysis on the phase 2b ORIGIN trial. The updated data excluded 14 patients who had some degree of a trial protocol violation, further enriching the data. The PP data was better than ITT data, where 36 weeks of data of th...

Summary When I think about the lessons learned from 2022, I think the biggest lesson is valuations matter. I do think this is the most predicted recession that I've ever seen, certainly, in my career. Investors of all stripes, whether you're an asset allocator or a stock picker, I t...

Summary Royalty Pharma plc is an interesting investment fund that buys pharmaceutical royalties and generates a non-correlated yield. With the depressed biotech sector valuation and increasing cost of capital with rising interest rates, we expect explosive growth in deal-making for Roya...