Biotech Values

[mouton29]

Re: Verve. It would be pretty misleading -- one might say Fibrogenic -- to tout the second generation LNP as expected to solve the problem if they saw they same liver effects preclinically. He did say that it was "well tolerated at therapeutic doses" in the 75 patients exposed in third party testing. I thought it was pretty clearly implied that Verve added the "proprietary" GALNAc targeting moetity to what was licensed -- if it's proprietary to Verve, it wouldn't be something the third party licensed, would it? Also, Kathiresan used the word "added" a couple times, which I took to mean, added to what was licensed.

Still, even though Kathiresan is touting the GALNAC as a reason he expects the second generation to solve this issue, there is always the possibility that adding it the LNP will create a problem not present in the 75 people who were tested.

I bought a few shares, it's beaten down and I have a close relative with likely FH (albeit response to moderate statin treatment), so I want to root for this to work.

[dewophile]

I listened thanks
One of the reasons they think it was the LNP was because they saw dose dependent liver effects preclinically (presumably at doses higher than what they thought they would need in humans).
It would have been nice if Brad Loncar simply asked him if they saw the same liver effects preclinically in the next generation system. Seems like an obvious follow up question to have asked
The company did mention their confidence in the second generation LNP because it has been tested by others in about 75 patients, but he also mentioned they also modified it with a proprietary GALNAc liver targeting moiety. It would have been nice to know if the outlicensed LNP had this modification or was an LNP without the GALNAC attached

[mouton29]

Re Verve: Good interview of Verve CEO, attributes safety issues in dose escalation trial of gene therapy/PCSK9 inhibition trial to lipid nanoparticle delivery system, believes second generation system will avoid the problem.

Stock fell from 14 to 8 on news, recovered a bit today.

https://www.biotechtv.com/post/verve-therapeutics-april-2-2024

[walterenergy]

Thank you - much appreciated

[DewDiligence]

FGEN—My guess is that the dataset reported today is less impressive than the earlier dataset from the same trial reported at ASCO in 2022. I don’t follow the company closely.

[DewDiligence]

Recent Biotech Buyouts of Publicly Traded Companies

[Added ABIO, KTRA, and ONTX reverse-mergers.]

Table entries are in descending order of buyout premium.
Reverse-mergers are listed at the bottom.

 
 Acquired         ‡Premium   *Deal        iHub  
 Company  Buyer   to Market  Value  Date  Reference  
 LOGC     AZN       667%     $70M  10/22  #msg-170099482 
 TBRA     AGN       498%     $615M  9/16  #msg-125266132 
 AVRX     CLDA      487%     $8M   10/08  #msg-33212809 
 GNLB     GSK       465%     $57M  10/08  #msg-33209281 
 DMTX     RARE      396%     $167M 10/17  #msg-135053781 
 CMPI     REGN      336%     $250M  4/22  #msg-168585070 
 MEMY     Roche     319%     $50M  11/08  #msg-33787598 
 IMDZ     MRK       311%     $300M  2/19  #msg-147004924 
 SGTX     LLY       280%     $35M   6/23  #msg-172236626 
 PRVB     SNY       273%     $2.9B  3/23  #msg-171430824 
 KDS.AS   SNY       272%     $360M 11/20  #msg-159250085 
 ANDS     Roche     256%     $220M 10/11  #msg-68043946 
 SYNB     PFE       240%     $10M  12/10  #msg-58221573 
 IDIX     MRK       239%     $3.85B 6/14  #msg-103051902 
 KOSN     BMY       233%     $190M  5/08  #msg-29647147 
 ZYNE     HRMY      226%     $60M   8/23  #msg-172590073 
 MIRO     UTHR      213%     $91M  10/23  #msg-173118733 
 TRIL     PFE       204%     $2.3B  8/21  #msg-165570289 
 ACER     ZVRA      203%     $15M   8/23  #msg-172730826 
 TSRO     GSK       182%     $5.1B 12/18  #msg-145223384 
 VLA.AX   MRK       182%     $394M  2/18  #msg-138708052 
 SQNM     LH        182%     $367M  7/16  #msg-124139335 
 NSPH     LMNX      179%     $77M   5/16  #msg-122867416 
 AIMT     Nestlé    174%     $2.6B  8/20  #msg-157987026 
 TCXK.PA  SGMO      174%     $84M   7/18  #msg-142384127 
 THOR     SNY       172%     $2.4B 12/19  #msg-152685325 
 MGRM     LH        171%     $155M  6/09  #msg-38960958 
 NEU.ST   AMGN      169%     $167M  5/19  #msg-148961436 
 COLY     PFE       167%     $165M 11/07  #msg-24600805 
 INHX     BMY       163%     $2.5B  1/12  #msg-70636307 
 LABP     ABBV      161%     $138M  3/24  #msg-174106073 
 CYPB     Ramius    160%     $255M 12/10  #msg-57780859 
 VTAE     AGN       159%     $639M  9/16  #msg-125144641 
 NTMD     Deerfld  z158%    z$36M   1/09  #msg-35132470 
 CELL     BRKR      150%     $108M  8/23  #msg-172624283 
 ICGN     PFE       150%     $56M   7/11  #msg-65365128 
 EYE      ABT       149%     $2.8B  1/09  #msg-34762429 
 IOMI     Intercell 147%     $190M  5/08  #msg-29232165 
 DNL.L    NBIX      144%     $56.5M 8/22  #msg-169825867 
 STML     Menarini  142%     $623M  5/20  #msg-155412863 
 CPEX     FCB_Hldgs 142%     $77M   3/11  #msg-61326856 
 SCTL     CoreRx    129%     $139M  2/24  #msg-173944768 
 GEVA     ALXN      136%     $8.4B  5/15  #msg-113395760 
 BTRX     Stiefel   136%     $150M  6/08  #msg-30201906 
 LMNL     Strc Alph 135%     $10M   7/23  #msg-172324343 
 PAND     MRK       134%     $1.85B 2/21  #msg-162128146 
 ISTA     Bausch&Lm 134%     $500M  3/12  #msg-73708628 
 PTLA     ALXN      132%     $1.2B  5/20  #msg-155434665 
 SOMX     PTX       127%     $25M  12/12  #msg-82334111 
 Tepnel   GPRO      126%     $132M  1/09  #msg-35221710 
 INSV     Sun_Phrma 125%     $48M   9/15  #msg-116997898 
 ABLX     SNY       123%     $4.8B  1/18  #msg-138081925 
 TPTX     BMY       122%     $4.1B  6/22  #msg-169044829 
 ONCE     Roche     122%     $4.3B  2/19  #msg-147078413 
 CINC     AZN       121%     $1.3B  1/22  #msg-170897861 
 CYNA     Sunovion  121%     $624M  8/16  #msg-124897051 
 TTHI     OPK       121%     $60M   6/16  #msg-123621440 
 ADLR     CBST      121%     $190M 10/11  #msg-68264754 
 SGXP     LLY       119%     $64M   7/08  #msg-30547648 
 MDVN     PFE      k118%     $4.0B  8/16  #msg-124680992 
 HARP     MRK       118%     $680M  1/24  #msg-173581189 
 ENCY     PFE       118%     $350M  2/08  #msg-26978155 
 CCXI     AMGN      116%     $3.7B  8/22  #msg-169584273 
 RARX     UCB.BR    112%     $2.1B 10/19  #msg-151624039 
 OPNT     INDV.L    111%     $110M 11/22  #msg-170443638 
 HZD.L    PKI       110%     $368M 11/20  #msg-159255066 
 BOLD     ALPMY     110%     $3.0B 12/19  #msg-152574418 
 IMMU     GILD      108%     $21B   9/20  #msg-158261866 
 ICEL     Fujifilm  108%     $307M  3/15  #msg-112226224 
 AMYT     Chiesi    107%     $1.25B 1/23  #msg-170892902 
 IMGO     MRK       107%     $1.4B 11/22  #msg-170504136 
 ARQL     MRK       107%     $2.7B 12/19  #msg-152684415 
 AMAM     JNJ       105%     $2.0B  1/24  #msg-173581189 
 RYZB     BMY       105%     $3.6B 12/23  #msg-173501393 
 TRCA     IPN.PA    104%     $660M  6/08  #msg-29795183 
 BLU      GSK       103%     $2.0B  4/23  #msg-171710496 
 GBT      PFE       102%     $5.4B  8/22  #msg-169612752 
 MRV.TO   Srchlight 101%     $91M  12/22 
 AMLN     BMY       101%    u$7.0B  6/12  #msg-77122453 
 ARNA     PFE       100%     $6.7B 12/21  #msg-167099213 
 TST.TO   PLI.TO    100%     $33M   8/16  #msg-124735566 
 HGSI     GSK        99%     $3.0B  7/12  #msg-77532608 
 FUSN     AZN        97%     $2.1B  3/24  #msg-174067117 
 ORTX     KYKOY      97%     $387M 19/23  #msg-172963268 
 CRY.TO   MDT        97%     $380M  9/08  #msg-32421462 
 CFMS     restor3D   96%     $18M   6/23  #msg-172198000 
 UROV     Sumitovant 96%     $681M 11/20  #msg-159462428 
 FTSV     GILD       96%     $4.9B  3/20  #msg-154105690 
 NVDQ     SYK        96%     $701M  6/17  #msg-132304937 
 IMGN     ABBV       95%     $10B  11/23  #msg-173325886 
 CHMA     AMYT       94%     $330M  5/21  #msg-163605477 
 BITI     ACOR       94%     $363M  1/16  #msg-119923883 
 Speedel  NVS        94%     $880M  7/08  #msg-30588524 
 HTWR     MDT        93%     $1.1B  6/16  #msg-123551339 
 MEDA.ST  MYL        92%     $9.9B  2/16  #msg-120456111 
 MNT      JNJ        92%     $1.1B 11/08  #msg-33879830 
 JUNO     CELG      j91%     $9.0B  1/18  #msg-137859642 
 OCAT     Astellas   91%     $379M 11/15  #msg-118374922 
 GI       BSX        90%     $210M  9/16  #msg-125422608 
 MEDX     BMY        90%     $2.1B  7/09  #msg-39801273 
 CTIC     SOBI.ST    89%     $1.7B  5/23  #msg-171878780 
 VRUS     GILD       89%     $11B  11/11  #msg-69211700 
 AVXS     NVS        88%     $8.7B  4/18  #msg-139888382 
 AGN      ACT       q88%     $66B  11/14  #msg-108238424 
 OMTH     AZN        88%     $260M  5/13  #msg-88349427 
 PNT      LLY        87%     $1.4B 10/23  #msg-172949338 
 MAKO     SYK        86%     $1.65B 9/13  #msg-92358712 
 ISO      BLI        85%     $58M  12/22  #msg-170759670 
 SIRT     GSK        85%     $620M  4/08  #msg-28705020 
 ALBO     IPN.PA     84%     $950M  1/22  #msg-170897349 
 LJPC     INVA       84%     $148M  7/22  #msg-169366685 
 ALDR     LUND.CO    84%     $1.95B 9/19  #msg-151154641 
 ZGEN     BMY        84%     $885M  9/10  #msg-54152162 
 AMBI     Daiichi    83%     $315M  9/14  #msg-106688411 
 ICPT     Alfasigma  82%     $870M  9/23  #msg-172898719 
 TRIV     ELGX       81%     $211M 10/15  #msg-118008485 
 YMI      GILD       81%     $510M 12/12  #msg-82377008 
 NGM      Column Gp  80%     $135M  2/24  #msg-173922864 
 DRNA     NVO        80%     $3.3B 11/21  #msg-166818260 
 PRVL     LLY        80%     $880M 12/20  #msg-160184274 
 TIG      TAK        80%     $622M  1/18  #msg-137517859 
 FSTX     Sino BPhrm 79%     $161M  6/22  #msg-169222236 
 BHVN     PFE        79%     $11.6B 5/22  #msg-168806558 
 KDMN     SNY        79%     $1.9B  9/21  #msg-165815381 
 FPRX     AMGN       79%     $1.9B  3/21  #msg-162316864 
 CVRS     SHL.DE     79%     $1.1B  8/19  #msg-151997721 
 CASC     SGEN       79%     $614M  1/18  #msg-138145273 
 AKUS     LLY        78%     $497M 10/22  #msg-170225029 
 NTGN     BNTX       77%     $67M   1/20  #msg-153334198 
 ACHN     ALXN       77%     $700M 10/19  #msg-151730899 
 ATLN.VX  JNJ       f77%     $30B   1/17  #msg-128155201 
 ORIDN.SW COV        77%     $300M  4/12  #msg-74079493 
 ADMS     SUPN       76%     $400M 10/21  #msg-166306594 
 CVTX     GILD       76%     $1.4B  3/09  #msg-36225695 
 RXDX     MRK        75%     $10.8B 4/23  #msg-171696785 
 ARIA     TAK        75%     $5.2B  1/17  #msg-127718101 
 OLK      TMO        74%     $3.1B 10/23  #msg-173043188  
 RXDX     Roche      74%     $1.7B 12/17  #msg-137115144 
 MOVET.BR SHPG       74%     $560M  8/10  #msg-52918245 
 IDEV     ENDP       74%     $370M  1/09  #msg-34592416 
 CERE     ABBV      f73%     $8.7B 12/23  #msg-173374544 
 CPXX     JAZZ       73%     $1.5B  5/16  #msg-122995888 
 LEVP     VPHM      y73%    y$510M  7/08  #msg-30704409 
 TARG     MDCO       72%     $42M   1/09  #msg-34774402 
 Ventana  Roche      72%     $3.4B  1/08  #msg-30912677 
 Jerini   SHPG       71%     $520M  7/08  #msg-30452872 
 MNTA     JNJ        70%     $6.5B  8/20  #msg-157719675 
 WTX.ST   ALXN       70%     $855M  4/18  #msg-139951584 
 APNO     Cell_Bio   70%     $20M   9/09  #msg-43348606 
 TCRR     ADAP       69%     $80M   3/23  #msg-171370279 
 AAH.AX   CEPH       69%     $207M  2/09  #msg-35956544 
 JNCE     Tang Cptl  68%     $99M   3/23  #msg-171548303 
 CNST     MOR        68%     $1.7B  6/21  #msg-164153449 
 NITE     BIIB       68%     $877M  3/19  #msg-147257363 
 LOXO     LLY        68%     $8.0B  1/19  #msg-145917745 
 ARMO     LLY        68%     $1.6B  5/18  #msg-140678701 
 STDY     UTHR       68%     $216M  4/18  #msg-140410572 
 DDS.TO   PLB.TO     68%     $15M   8/11  #msg-66272770 
 KDNY     NVS        67%     $3.2B  6/23  #msg-172110415 
 APEN     BSX        67%     $615M 11/22  #msg-170560661 
 CMTA     IPN.PA     67%     $1.31B 2/19  #msg-147078420 
 ALXA     Gp_Ferrer  67%     $20M   5/16  #msg-122522140 
 ZGNX     UCB.BR     66%     $1.9B  1/22  #msg-167551981 
 NVET     ZTS        66%     $85M   4/17  #msg-130461127 
 DRTX     ACT        66%     $675M 10/14  #msg-106925472 
 SPPI     ASRT       65%     $250M  4/23  #msg-171766836 
 LPDX     LH         65%     $83M   9/14  #msg-106598786 
 OSTE     MDT        65%     $123M  8/10  #msg-53410183 
 MDCO     NVS        64%     $9.0B 11/19  #msg-152458295 
 FCSC     Castle_Crk 64%     $63M   9/19  #msg-151108594 
 BIVV     SNY        64%     $11.6B 1/18  #msg-137861926 
 LDRH     ZBH        64%     $1.0B  6/17  #msg-133419822 
 TLCR     GRFS       64%     $3.4B  6/10  #msg-50961841 
 FACT     ABT        64%     $450M  3/10  #msg-47606240 
 Acambis  SNY        64%     $550M  7/08  #msg-30990498 
 JAV      HSP        64%     $141M  4/10  #msg-48881292 
 MSLI     Norgine_BV 63%     $249M  5/17  #msg-131262204 
 GRCL     AZN        62%     $1.0B 12/23  #msg-173501426 
 ARRY     PFE        62%     $11.4B 6/19  #msg-149423883 
 CBMX     NVTA       62%     $33M   7/17  #msg-133447160 
 MOR      NVS        61%     $2.9B  2/24  #msg-173780339 
 MYOK     BMY        61%     $13B  10/20  #msg-158699874 
 Synthes  JNJ        61%     $21.5B 4/11  #msg-62473819 
 SCRX     Shionogi   61%     $1.4B  9/08  #msg-31859174 
 APGN     PYXS       60%     $16M   5/23  #msg-171981599 
 SHPG     TAK        60%     $62.1B 5/18  #msg-140610505 
 XNPT     Arbor_Phrm 60%     $487M  5/16  #msg-122847495 
 BRLI     OPK        60%     $1.5B  6/15  #msg-114296569 
 MAPP     AGN        60%     $958M  1/13  #msg-83696395 
 BFRM     Merz       60%     $253M  1/10  #msg-45071380 
 RETA     BIIB       39%     $7.3B  7/23  #msg-172456806 
 RLYP     Galenica   59%     $1.53B 7/16  #msg-124014245 
 CXS.AX   CEPH       59%     $163M  3/11  #msg-61453144 
 CRXL     JNJ        58%     $2.4B 12/10  #msg-55228522 
 PFNX     LGND       57%     $438M  8/20  #msg-157515236 
 VOLC     PHG        57%     $1.0B 12/14  #msg-109142343 
 MEDS     XON        57%     $26M  12/13  #msg-95175483 
 AVDR     GKOS       56%     $480M  8/19  #msg-150387068 
 OMPI     VRX        56%     $360M  3/13  #msg-86381607 
 BMTI     WMGI       56%     $380M 12/12  #msg-81626598 
 MTXX     HIG_Captl  56%     $75M  12/10  #msg-57778844 
 ASPM     COV        56%     $210M  9/09  #msg-43348479 
 ANAC     PFE        55%     $5.2B  5/16  #msg-122659881 
 RNA      BMRN       55%     $840M 11/14  #msg-108456369 
 AUXL     ENDP       55%     $2.6B 10/14  #msg-107031514 
 OSIP     Astellas   55%     $4.0B  5/10  #msg-50234451 
 IDMI     TAK        55%     $75M   5/09  #msg-37898204 
 COLL     BDSI       54%     $604M  2/22  #msg-167875055 
 VEC.L    PM         54%     $1.5B  8/21  #msg-165430280 
 CELG     BMY        54%     $74B   1/19  #msg-145844551 
 ECYT     NVS        54%     $2.1B 10/18  #msg-144295734 
 CPHD     DHR        54%     $4.0B  9/16  #msg-124976329 
 GNOM     BGI-Shnzhn 54%     $118M  9/12  #msg-79636464 
 RDEA     AZN        54%     $1.3B  4/12  #msg-74706626 
 BSMD     MMSI       54%     $96M   5/10  #msg-50161877 
 ATSI     MDT        54%     $370M  4/10  #msg-49617936 
 ALO      KG         54%     $1.6B 11/08  #msg-33763449 
 ABGX     AMGN       54%     $2.2B 12/05  #msg-8876857 
 KRTX     BMY        53%     $14B  12/23  #msg-173484423 
 EPZM     IPN.PA     53%     $247M  6/22  #msg-169252695 
 VIE      HZNP       53%     $2.67B 2/21  #msg-161376573 
 MEDI     AZN        53%     $15.2B 4/07  #msg-19020387 
 MLNM     TAK        53%     $8.8B  4/08  #msg-28365383 
 AMRI     Crlyl/GTCR 52%     $922M  6/17  #msg-131937504 
 AFFX     TMO        52%     $1.3B  1/16  #msg-119712743 
 TRBN     EBS        52%     $97M   8/10  #msg-53271836 
 SYNO     BAX        52%     $260M 12/11  #msg-69906294 
 PCOP     LGND       52%     $75M   9/08  #msg-32404474 
 FRLN     SYNC.L     51%     $28M  11/23  #msg-173279258 
 ABMD     JNJ        51%     $17B  11/22  #msg-170339688 
 VIFN.SW  CSL.AX     51%     $12B  12/21  #msg-167114255 
 RPBIF    OrbiMed    51%     $11.1M 6/16  #msg-126868605 
 NPSP     SHPG       51%     $5.2B  1/15  #msg-109811213 
 CLZR     ELOS       51%     $65M   9/09  #msg-41293512 
 OMRI     JNJ        51%     $465M 11/08  #msg-33762745 
 IMCL     LLY        51%     $6.5B 10/08  #msg-32662830 
 QSAM     TLX.AX     50%     $33M   2/24  #msg-173807713 
 CSII     ABT        50%     $890M  2/23  #msg-171160898 
 MYOV     Sumitomo   50%     $2.9B 10/22  #msg-170268877 
 ETTX     INVA       50%     $113M  5/22  #msg-168944440 
 ATRS     HALO       50%     $960M  4/22  #msg-168533921 
 ITMR     Zoll Mdcl  50%     $538M  9/21  #msg-165885593 
 GWPH     JAZZ       50%     $6.7B  2/21  #msg-161448011 
 CORI     Gurnet_Pnt 50%     $504M 10/18  #msg-144156114 
 ENTL     SYK        50%     $662M 12/17  #msg-136714935 
 PSTX     SYK        50%     $120M  1/14  #msg-95510779 
 MYOG     GILD       50%     $2.5B 10/06  #msg-13712121 
 MIL      Merck_KGaA 50%     $7.2B  3/10  #msg-47249493 
 CRGN     CLDX       50%     $40M   5/09  #msg-38262967 
 TNOX     DNA        50%     $919M 11/06  #msg-14673162 
 FMTX     NVO        49%     $1.1B  9/22  #msg-169846707 
 OCRX     MNK        49%     $75M  11/17  #msg-135889221 
 HZNP     AMGN       48%     $28B  12/22  #msg-170671017 
 WMGI     SYK        48%     $5.4B 11/19  #msg-152075660 
 SURG     VRX        48%     $166M  9/15  #msg-116690920 
 ZY       DNA        47%     $300M  7/22  #msg-169486788 
 AAAP     NVS        47%     $3.9B 10/17  #msg-168310103 
 FLXN     PCRX       47%     $428M 10/21  #msg-166306397 
 CBM      Permira    47%     $2.4B  8/19  #msg-150386649 
 KIN      ELAN       46%     $440M  6/21  #msg-164417443 
 AMAG     Covis_Grp  46%     $647M 10/20  #msg-158641344 
 BEC      DHR        46%     $6.8B  2/11  #msg-59624646 
 PHRM     CELG       46%     $2.9B 11/07  #msg-24645394 
 ALXN     AZN        45%     $39B  12/20  #msg-160128002 
 AGN      ABBV       45%     $65B   6/19  #msg-149577810 
 ROCM     BCR        45%     $262M  9/13  #msg-91684202 
 TYME     SYRS       44%     $70M   7/22  #msg-169317107 
 BSTC     ENDP       44%     $540M 10/20  #msg-158976969 
 AAAP     NVS        44%     $3.9B 10/17  #msg-135797034 
 GNVC     XON        44%     $14.2M 1/17  #msg-128087921 
 ICVX     AZN        43%     $800M 12/23  #msg-173410902 
 DBTX     REGN       43%     $109M  8/23  #msg-172552134 
 VECT     IRWD       43%     $1.0B  5/23  #msg-171960647 
 AVEO     LG Chem    43%     $566M 10/22  #msg-170225142 
 GNMK     Roche      43%     $1.8B  3/21  #msg-162557955 
 SNMX     Firmenich  43%     $72M   9/18  #msg-143614780 
 RPRX     AGN        43%     $27M  12/17  #msg-136820335 
 DICE     LLY        42%     $2.4B  6/23  #msg-172170829 
 SGEN     PFE        42%     $43B   3/23  #msg-171430587 
 AGTC     SYNC.L     42%     $24M  10/22  #msg-170272356 
 ZSPH     AZN        42%     $2.7B 11/15  #msg-118292261 
 ASPX     TEVA       42%     $3.2B  3/15  #msg-112224762 
 CALP     PKI        42%     $600M  9/11  #msg-66915400 
 BRL      TEVA       42%     $9.0B  7/08  #msg-30792830 
 PRTK     Gurnet Pt  41%     $330M  6/23  #msg-172070130 
 EIDX     BBIO       41%     $2.9B 10/20  #msg-158699182 
 AST      BTX        41%     $85M  11/18  #msg-144764100 
 VITA     SYK        41%     $320M  5/11  #msg-63178312 
 AGAM     STJ        41%     $1.3B 10/10  #msg-55673504 
 MNLO     FOMX       40%     $180M 11/19  #msg-152208625  
 DSCI     IART       40%     $204M  1/17  #msg-127779613 
 SGNT     Nichi-Iko  40%     $736M  7/16  #msg-123792475 
 PATH     TEVA       40%    s$144M  1/14  #msg-96147237 
 SLTM     VRX        40%     $236M 12/13  #msg-95003986 
 KG       PFE        40%     $3.6B 10/10  #msg-55425514 
 STSA     Shin Nippn 39%     $30M   4/23  #msg-171700091 
 SRRA     GSK        39%     $1.9B  4/22  #msg-168533694 
 PCYC     ABBV      n39%     $21B   3/15  #msg-111425234 
 SYR.L    STE        39%     $1.9B 10/14  #msg-107152734 
 HSP      PFE        39%     $17B   2/15  #msg-110577169 
 MRX      VRX        39%     $2.6B  9/12  #msg-79186818 
 CEPH     TEVA       39%     $6.8B  5/11  #msg-62636692 
 ORCH     LH         39%     $85M   4/11  #msg-61801828 
 MOGN     Eisai      39%     $3.9B 12/07  #msg-25163775 
 SPNE     OFIX       38%     $306M 10/22  #msg-170165454 
 PETX     ELAN       38%     $231M  4/17  #msg-148466146 
 ALR      ABT        38%     $7.9B  4/17  #msg-130492505 
 BXLT     SHPG       38%     $32B   1/16  #msg-119743932 
 ITMN     Roche      38%     $8.3B  8/14  #msg-105603127 
 SNTS     SLXP       38%     $2.6B 11/13  #msg-93839578 
 ONXX     AMGN       38%     $9.7B  8/13  #msg-91383118 
 LIFE     TMO        38%     $15.6B 4/13  #msg-86836458 
 DUSA     Sun_Pharma 38%     $230M 11/12  #msg-81273572 
 AERI     ALC        37%     $770M  8/22  #msg-169759599 
 TTPH     LJPC       37%     $43M   6/20  #msg-156488296 
 BTG.L    BSX        37%     $4.2B 11/18  #msg-145001575 
 STJ      ABT        37%     $30.7B 4/16  #msg-122251293 
 CBST     MRK        37%     $9.5B 12/14  #msg-108853418 
 SIAL     Merck_KGaA 37%     $17B   9/14  #msg-106484466 
 PRX      TPG_(prvt) 37%     $1.9B  7/12  #msg-77533202 
 MTOX     LH         37%     $240M  6/12  #msg-76240732 
 GENZ     SNY       v37%    v$20.1B 2/11  #msg-59975091 
 DOVA     SOBI.ST    36%     $810M  9/19  #msg-151425501 
 MRTX     BMY        35%     $4.8B 10/23  #msg-172983547 
 SURF     CHRS       35%     $40M   6/23  #msg-172154287 
 SOBI.ST  Advent/GIC 35%     $8.0B  9/21  #msg-165744197 
 CORV     Advance_Ph 35%     $76M   3/20  #msg-154356839 
 PTHN     TMO        35%     $7.2B  5/17  #msg-131355584 
 DYAX     SHPG       35%     $5.9B 11/15  #msg-118164544 
 MATK     Royal_DSM  35%     $1.1B 12/10  #msg-57987049 
 MITO     Mrngsd Vnt 34%     $27M   8/22  #msg-169552098 
 NEOS     AYTU       34%     $45M  12/20  #msg-160066262 
 WCRX     ACT        34%     $8.5B  5/13  #msg-88088454 
 AMMD     ENDP       34%     $2.9B  4/11  #msg-61948007 
 CLRT     GE         34%     $580M 10/10  #msg-55864640 
 SGP      MRK        34%     $41B   3/09  #msg-36140327 
 HTRN     ENDP       34%     $223M  5/10  #msg-49838813 
 CLCD     LLY        33%     $960M  1/17  #msg-127941157 
 AKGZF    Bayer      33%     $2.9B 12/13  #msg-95174198 
 KNSY     Royal_DSM  33%     $360M  5/12  #msg-75204020 
 MITI     AMGN       33%     $1.16B 1/12  #msg-71341339 
 OYST     VTRS       32%     $300M 11/22  #msg-170389075 
 JNP      CTLT       32%     $140M  7/18  #msg-141961886 
 CVD      LH         32%     $5.6B 11/14  #msg-107784169 
 SMTS     COV        32%     $250M  6/10  #msg-51344183 
 EXAC     TPG_(prvt) 31%     $625M 10/17  #msg-135627315 
 TOMO     ARAY       31%     $277M  3/11  #msg-60697854 
 TBIO     SNY        30%     $3.2B  8/21  #msg-165242244 
 PRAH     ICLR       30%     $12B   2/21  #msg-162100993 
 NXTM     FMS        30%     $2.0B  8/17  #msg-133627112 
 THOR     STJ        30%     $3.4B  7/15  #msg-115599422 
 PPD(I)   CarlyleGrp 30%     $3.9B 10/11  #msg-67625255 
 OctoPlus RDY        30%     $35M  10/12  #msg-80752228 
 CGPI     Galderma   30%     $420M  2/08  #msg-28286522 
 NTUS     ArchiMed   29%     $1.2B  4/22  #msg-168574161 
 XLRN     MRK        29%     $11.5B 9/21  #msg-166156870 
 IVTY     SYK        29%     $190M  9/18  #msg-143493139 
 FMI      Roche      29%    h$2.4B  6/18  #msg-141630144 
 COV      MDT        29%     $42.9B 6/14  #msg-103352775 
 CHTP     Lundbeck   29%     $530M  5/14  #msg-101687352 
 WYE      PFE        29%     $68B   1/09  #msg-35077617 
 APPX     Fresenius  29%     $940M  7/08  #msg-30498388 
 KITE     GILD       29%     $11.9B 8/17  #msg-134179317 
 GTKX.PA  CALT       28%     $38M   8/20  #msg-157592686 
 PRXL     Pamplona   28%     $4.6B  6/17  #msg-132330332 
 INNL     Gurnet_Pt  28%     $53M   4/17  #msg-130210863 
 CYNO     HOLX       28%     $1.44B 2/17  #msg-128697104 
 CRA      DGX        28%     $330M  3/11  #msg-61103240 
 SEPR     Dainippon  28%     $2.6B  9/09  #msg-41143301 
 CBAY     GILD       27%     $4.3B  2.24  #msg-173827237  
 NVCN     SWAV       27%     $199M  1/23  #msg-170962426 
 OXFD     PKI        27%     $600M  1/21  #msg-160749373 
 HEMA     CRL        27%     $380M 12/19  #msg-152826703 
 SPNC     PHG        27%     $2.16B 6/17  #msg-132563070 
 QCOR     MNK        27%     $5.6B  4/14  #msg-100144844 
 CNJ.TO   EBS        27%     $222M 12/13  #msg-94886880 
 GIVN     COV        27%     $860M 12/13  #msg-94759019 
 VPHM     SHPG       27%     $4.2B 11/13  #msg-93924184 
 ASTX     Otsuka     27%     $886M  9/13  #msg-91706292 
 ALTH     SPPI       27%     $108M  4/12  #msg-74081029 
 GXDX     NVS        27%     $330M  1/11  #msg-59092015 
 SOLY     ABBV       26%     $550M  5/21  #msg-163706786 
 KTWO     SYK        26%     $1.4B  8/18  #msg-143281972 
 LBMH     BCR        26%     $181M 11/15  #msg-118658269 
 CFN      BD         26%    $12.2B 10/14  #msg-106924866 
 CADX     MNK        26%     $1.3B  2/14  #msg-97103062 
 ISPH     MRK        26%     $430M  4/11  #msg-61724403 
 Zentiva  SNY        26%     $2.6B  9/08  #msg-32327005 
 AMTI     CYTH       25%     $11M  12/23  #msg-173513038 
 CEMI     ALBIO.PA   25%     $17.2M 1/23  #msg-171085285 
 KARO.ST  EQT_VIII   25%     $650M 10/18  #msg-144517455 
 BCR      BDX        25%     $24B   4/17  #msg-130730335 
 SLXP     VRX       p25%     $15.9B 3/15  #msg-111768607 
 FRX      ACT        25%     $25B   2/14  #msg-97422529 
 ICOS     LLY        25%     $2.3B 12/06  #msg-15623908 
 PPD      TMO        24%     $20.9B 4/21  #msg-163201848 
 VAR      SHL.DE     24%     $16.4B 8/20  #msg-157315433 
 KYTH     AGN        24%     $2.1B  6/15  #msg-114667193 
 HITK     AKRX       24%     $540M  8/13  #msg-91428592 
 ZOLL     AsahiKasei 24%     $2.2B  3/12  #msg-73194976 
 RCOR     RCKT       23%     $53M   9/22  #msg-169991990 
 LMNX     DIA.MI     23%     $1.8B  4/21  #msg-163126009 
 ISEE     Astellas   22%     $5.9B  5/23  #msg-171807035 
 ALMED.PA MDT        22%     $160M  7/20  #msg-156929697 
 Noven    Hisamitsu  22%     $428M  7/09  #msg-39515681 
 RPTP     HZNP       21%     $800M  9/16  #msg-125097197 
 DNEX     TMO        21%     $2.1B 12/10  #msg-57686719 
 EQRX     RVMD       20%     $1.1B  8/23  #msg-172491486 
 PLB.TO   ENDP       20%     $74M  11/13  #msg-93718507 
 CPTS     Bayer      20%     $1.1B  4/13  #msg-87353545 
 PBTH     OPK        20%     $480M  4/13  #msg-87185863 
 GPRO     HOLX       20%     $3.7B  4/12  #msg-74999864 
 FURX     FRX        19%     $1.1B  4/14  #msg-101191792 
 CLDA     FRX        19%     $1.2B  2/11  #msg-60171753 
 PPCO     ENDP       19%     $168M  8/10  #msg-53137069 
 EVVV     COV        19%     $2.6B  6/10  #msg-50797343 
 RCPT     CELG       18%     $7.2B  7/15  #msg-115406201 
 CTLT     NVO Hldngs 17%     $11.5B 2/24  #msg-173773953 
 RAIN     Pathos AI  17%     c.v.  12/23  #msg-173423820 
 PRDS     MediPac    17%     c.v.   7/23  #msg-172362079 
 MSON     BVS        17%     $518M  7/21  #msg-166521465 
 BEAT     PHG        17%     $2.8B 12/20  #msg-160299656 
 NDRM     Mitsubishi 17%     $1.1B  7/17  #msg-133239153 
 KCI      Apax_Prts  17%     $6.3B  7/11  #msg-65162696 
 ABII     CELG       17%     $2.9B  6/10  #msg-51844360 
 ACL      NVS       x17%    x$49.7B 1/10  #msg-45072999 
 CNCE     Sun Pharma 16%     $580M  1/23  #msg-170981214 
 MZOR     MDT        16%     $1.64B 9/18  #msg-143696059 
 VER.L    LGND       16%     $43M   8/18  #msg-142795933 
 ABAX     ZTS        16%     $2.0B  5/18  #msg-140837816 
 AEGR     QLTI      m16%     $45M   6/16  #msg-123312384 
 KMNS     XIO_Grp    16%     $510M  6/15  #msg-114711266 
 PRXN.L   Upshr-Smth 16%     $350M  6/12  #msg-76556065 
 CGRB     JNJ        16%     $970M  5/09  #msg-38039851 
 DNA      Roche      16%    w$46.8B 3/09  #msg-36224175 
 XENT     MDT        15%     $1.1B  8/21  #msg-165323285 
 SCMP     MNK        15%     $1.2B 12/17  #msg-137177653 
 TSRX     CBST       15%     $707M  7/13  #msg-90492857 
 ARI.TO   Roche      15%     $190M  7/08  #msg-30904056 
 EMIS     NVO        14%     $1.8B 11/20  #msg-159336565 
 ZLTQ     AGN        14%     $2.48B 2/17  #msg-128649430 
 FEIC     TMO        14%     $4.2B  5/16  #msg-122953139 
 SENO     BCR        14%     $213M  5/10  #msg-49838776 
 SBBP     XERS       13%     $267M  5/21  #msg-163992064 
 PGNX     LNTH       13%     $440M  2/20  #msg-153933488 
 AVNR     Otsuka     13%     $3.5B 12/14  #msg-108677894 
 RDUS     Gurnet Pt  12%     $890M  6/22  #msg-169222128 
 SCLN     GL_Capital 11%     $605M  6/17  #msg-132004673 
 WX       prvt_grp   11%     $3.3B  8/15  #msg-116208102 
 ELN      PRGO       11%     $6.7B  7/13  #msg-90418077 
 PRNB     SNY        10%     $3.36B 8/20  #msg-157669162 
 TGX      Juniper     9%     $52M   8/13  #msg-90677660 
 EURX     Axcan       9%     $583M 12/10  #msg-57543845 
 KNTE     XOMA        8%     $120M  2/24  #msg-173861156 
 HPTX     HZNP        8%     $1.1B  3/15  #msg-112225598 
 PMTI     CYNO        8%     $294M  3/13  #msg-85810217 
 TWTI     HOLX        7%     $580M  6/08  #msg-29877950 
 ARTC     SN.L        6%     $1.7B  2/14  #msg-96750072 
 CEGE     BPAX        6%     $38M   6/09  #msg-39163410 
 MEND     JNJ         6%     $480M  7/10  #msg-52176337 
 THRX     Tang Cptl   5%     c.v.  12/23  #msg-173484642   
 GHDX     EXAS        5%     $2.8B  7/19  #msg-150192700 
 ELOS     Apax_Prtns  4%     $397M  4/17  #msg-130128751 
 PRON.OL  BASF        4%     $844M 12/12  #msg-81711876 
 ABCM     DHR         3%     $5.7B  8/23  #msg-172703284 
 DERM     LLY         2%     $1.1B  1/20  #msg-153222680 
 GENT     JAZZ        2%     $1.0B 12/13  #msg-95143526 
 OSIR     SNN         1%     $660M  3/19  #msg-147467838 
 RLM      EPIX       (3%)    $22M   5/19  #msg-148855792 
 CRTX     Chiesi     (3%)   t$106M  9/13  #msg-92046498 
 VXGN     OXGN       (4%)    $33M  10/09  #msg-42578130 
 AVGN     MNOV       (7%)    $38M   8/09  #msg-40769841 
 VRX      BVF        (7%)    $3.9B  6/10  #msg-51505172 
 VELO.CO  Asahi      (9%)    $1.3B 11/19  #msg-153256195  
 GNMX     CERC      (11%)    $16M  12/19  #msg-152639293 
 KERX     AKBA      (13%)    $475M  6/18  #msg-141859230 
 OPTR     CBST      (19%)    $535M  7/13  #msg-90492857 
 ACPH.BR  EGRX      (30%)    $104M  3/22  #msg-168352276 
 DPLO     UNH       (31%)    $300M 12/19  #msg-152689666 
 MRLB     SIEN      (78%)    $20M   6/17  #msg-132114929 
 TLON     SPPI     ‡(85%)   ‡$11M   7/13  #msg-90020541 
 KTRA     HURA        ®        ®    4/24  #msg-174166810 
 ABIO     ORCA        ®        ®    4/24  #msg-174165127 
 ONTX     TRAW        ®        ®    4/24  #msg-174158771 
 AVRO     TECX        ®        ®    1/24  #msg-173735605 
 FIXX     QTTB        ®        ®   11/13  #msg-173237730 
 GRPH     LENZ        ®        ®   11/23  #msg-173227879 
 SELB     RNAC        ®        ®   11/23  #msg-173210464 
 INVO     NAYA        ®        ®   10/23  #msg-173075987 
 ADXS     Biosight    ®        ®    7/23  #msg-172456806 
 NLTX     NGNE        ®        ®    7/23  #msg-172374206 
 FREQ     KRRO        ®        ®    7/23  #msg-172338919 
 TALS     TRML        ®        ®    6/23  #msg-172187751 
 IMNM     Morphimmune ®        ®    6/23  #msg-172242569 
 NANOV.OL Thor Med    ®        ®    6/23  #msg-172098515 
 MGTA     DNTH        ®        ®    5/23  #msg-171829261 
 DFFN     CRVO        ®        ®    3/23  #msg-171578139 
 ADMP     DMK Pharma  ®        ®    2/23  #msg-171314445 
 VBLT     NTBL        ®        ®    2/23  #msg-171281477 
 ANGN     ELTX        ®        ®    1/23  #msg-170962134 
 VLON     GRI         ®        ®   12/22  #msg-170687186 
 GRAY     CALC        ®        ®   11/22  #msg-170512654 
 ADXS     Ayala       ®g       ®   10/22  #msg-170233693 
 IMRA     ELVN        ®        ®   10/22  #msg-170192000 
 RMED     VTAK        ®        ®    9/22  #msg-170581567 
 SESN     CARM        ®        ®    9/22  #msg-170005327 
 GMTX     IRON        ®        ®    8/22  #msg-169638662 
 SBTX     SPRY        ®        ®    7/22  #msg-169465202 
 YMTX     KA          ®        ®    6/22  #msg-169066703 
 CLBS     LSTA        ®        ®    4/22  #msg-168674675 
 EYES     VANI        ®        ®    2/22  #msg-167798986 
 POLN.SW  SPEX.SW     ®        ®   12/21  #msg-167295474 
 AZRX     FWBI        ®        ®    9/21  #msg-165885811 
 EARS     CYTO        ®        ®    6/21  #msg-164184643 
 ARPO     AADI        ®        ®    5/21  #msg-163841604 
 MLND     TPST        ®        ®    3/21  #msg-162851398 
 APOP     Quoin_Phrm  ®        ®    3/21  #msg-162798374 
 NTEC     INDP        ®        ®    3/21  #msg-162565942 
 OBLN     RSLS        ®        ®    1/21  #msg-161068114 
 NK       IBRX        ®        ®   12/20  #msg-160358069 
 SNCA     PALI        ®        ®   12/20  #msg-160265342 
 ANCN     CMMB        ®        ®   12/20  #msg-160187408 
 SNSS     VIRX        ®        ®   11/20  #msg-159786611 
 AKER     MYMD        ®        ®   11/20  #msg-159445834 
 CBLI     STAB        ®        ®   10/20  #msg-158993566 
 PTI      YMTX        ®        ®    8/20  #msg-157833849 
 CGIX     VYNT        ®        ®    8/20  #msg-157834952 
 ARYBU    CERE        ®        ®    7/20  #msg-157265361 
 SBPH     FSTX        ®        ®    7/20  #msg-157245800 
 UMRX     Kiq_LLC     ®        ®    7/20  #msg-156717827 
 REXN     OCUP        ®        ®    6/20  #msg-156362145 
 ADRO     KDNY        ®        ®    6/20  #msg-155991705 
 NTRP     PTPI        ®        ®    5/20  #msg-155701445 
 TORC     ACET        ®        ®    4/20  #msg-155341382 
 ARYA     IMTX        ®        ®    3/20  #msg-155937184 
 TOCA     FBRX        ®        ®    2/20  #msg-153935298 
 BPMX     TMBR        ®        ®    1/20  #msg-153535078 
 CNAT     HSTO        ®        ®    1/20  #msg-153532517 
 RTTR     QLGN        ®        ®    1/20  #msg-153405835 
 ZFGN     LRMR        ®        ®   12/19  #msg-152862497 
 NLNK     LUMP        ®        ®    9/19  #msg-151442042 
 PRTO     TARA        ®        ®    9/19  #msg-151308631 
 OPGN     CURE.AS     ®        ®    9/19  #msg-150924660 
 AQXP     NLTX        ®        ®    8/19  #msg-150347293 
 GEMP     NRBO        ®        ®    7/19  #msg-150120289 
 MYND     EMMA        ®        ®    7/19  #msg-150069355 
 CHAC     PHGE        ®        ®    7/19  #msg-150003368 
 VICL     BBI         ®        ®    6/19  #msg-149171531 
 ALQA     ADYX        ®        ®    4/19  #msg-148356921 
 MATN     OTLC        ®        ®    4/19  #msg-148312861 
 HSGX     OCGN        ®        ®    4/19  #msg-148102776 
 VTL      IMUX        ®        ®    4/19  #msg-148027472 
 SBOT     EDSA        ®        ®    3/19  #msg-147384278 
 GTXI     ONCT        ®        ®    3/19  #msg-147349916 
 FLKS     SLRX        ®        ®    1/19  #msg-145871960 
 APHB     ARMP        ®        ®    1/19  #msg-145870884 
 OHRP     NBSE        ®        ®    1/19  #msg-145848413 
 OMED     MREO        ®        ®   12/18  #msg-145273044 
 ASNS     XFOR        ®        ®   11/18  #msg-145105702 
 EDGE     PDSB        ®        ®   11/18  #msg-145087200 
 ORPN     ENLV        ®        ®   11/18  #msg-144993741 
 OVAS     MLND        ®        ®    8/18  #msg-142796422 
 APRI     SEEL        ®        ®    7/18  #msg-142554689 
 TPIV     MRKR        ®        ®    6/18  #msg-141234250 
 VSAR     ARAV        ®        ®    6/18  #msg-141288246 
 PSDV     EYPT        ®        ®    4/18  #msg-139636450 
 DDRT     ENOB        ®        ®    2/18  #msg-155616042 
 SVON     ELOX        ®        ®   12/17  #msg-137129259 
 AVIR     VXRT        ®        ®   10/17  #msg-135798068 
 NEOT     EVFM        ®        ®   10/17  #msg-135475699 
 IPXL     AMRX        ®        ®   10/17  #msg-135476435 
 HUWX     PCSA        ®        ®   10/17  #msg-135169711 
 ADHD     ARCT        ®        ®    9/17  #msg-134959115 
 ITEK     RCKT        ®        ®    9/17  #msg-134563146 
 OXIS     GTBP        ®        ®    8/17  #msg-133992461 
 CEMP     MLNT        ®        ®    8/17  #msg-133699889 
 GALE     SLS         ®        ®    8/17  #msg-133668985 
 AEPP     ONCX        ®        ®    8/17  #msg-133655781 
 MDSI     INNT        ®        ®    7/17  #msg-138124228 
 OPXA     ACER        ®        ®    7/17  #msg-132682989 
 MIRN     SYBX        ®        ®    5/17  #msg-131394212 
 NVLS     ALPN        ®        ®    4/17  #msg-130583796 
 CERU     DARE        ®        ®    3/17  #msg-129681349 
 THLD     MTEM        ®        ®    3/17  #msg-129612892 
 JAGX     Napo_Pharma ®        ®    2/17  #msg-133472369 
 PIP      ALT         ®        ®    1/17  #msg-127979048 
 MSTX     SVRA        ®        ®    1/17  #msg-127699319 
 OGXI     ACHV        ®        ®    1/17  #msg-127671152 
 GTCL.PA  GKTX.PA     ®        ®   12/16  #msg-127378262 
 DPRX     PLXP        ®        ®   12/16  #msg-127377082 
 TKAI     OTIC        ®        ®   12/16  #msg-127360808 
 COOL     PTE         ®        ®   12/16  #msg-127170327 
 MRNA     IthenaPhrma ®        ®   11/16  #msg-126593922 
 SGNL     MGEN        ®        ®   11/16  #msg-126214730 
 TBIO     PRPO        ®        ®   10/16  #msg-125767889 
 EBIO     Viventia    ®        ®    9/16  #msg-125325110 
 LPTN     APEN        ®        ®    9/16  #msg-125044826 
 MCUR     LPTX        ®        ®    8/16  #msg-124830007 
 STEM     MBOT        ®        ®    8/16  #msg-124542946 
 CBYL     KALV        ®        ®    6/16  #msg-123315137 
 AAVL     Annapurna   ®        ®    5/16  #msg-122582472 
 BIOD     ALBO        ®        ®    5/16  #msg-122880969 
 SNTA     MDGL        ®        ®    4/16  #msg-121919321 
 APPY     Strand_LS   ®        ®    1/16  #msg-120095130 
 RESX     DFFN        ®        ®    1/16  #msg-119714298 
 CLDN     EIGR        ®        ®   11/15  #msg-118623913 
 VBI      SVACF       ®        ®   10/15  #msg-120043416 
 CLTX     Volution    ®        ®    7/15  #msg-115354702 
 RTGN     PULM        ®        ®    6/15  #msg-114559267 
 TBUFF    POZN        ®        ®    6/15  #msg-114404029 
 DARA     MTPH.L      ®        ®    6/15  #msg-114299115 
 TRGT     CBIO        ®        ®    3/15  #msg-111461780 
 RGDO     TBRA        ®        ®    1/15  #msg-109912303 
 TKMR     ABUS        ®        ®    1/15  #msg-109820030 
 TSPT     PRTK        ®        ®    7/14  #msg-103895855 
 VTUS     ASMB        ®        ®    5/14  PR link 
 TELK     MBVX        ®        ®    5/14  #msg-101987443 
 ZLCS     EPRS        ®        ®    4/14  #msg-100707725 
 NABI     Biota       ®        ®   11/12  #msg-81312718 
 TRMS     GEVA        ®        ®    6/11  #msg-64249161 
 VSGN     IPC         ®        ®    8/09  #msg-40603745 
 PGLA     Avexa       ®        ®   12/08  #msg-34341452 
 NUVO     ABIO        ®        ®    9/08  #msg-32420015 
 NOVC     TSPT        ®        ®    9/08  #msg-31869987 
 SNUS     OGXI        ®        ®    5/08  #msg-29604972 
  
 ‡ Relative to “unaffected” share price in cases where 
 a buyout offer or auction was made public; excludes 
 CVRs unless otherwise specified. 
  
 * Adjusted for cash/debt on acquired company’s balance 
 sheet; excludes CVRs unless otherwise specified. 
  
 ® Reverse merger; premium not calculable.  
  
 c.v. No premium to cash value of acquired company. 
  
 f Premium relative to “unaffected” closing price on 12/1/23 
  
 g Merged co named Ayala but trades under ADXS symbol. 
  
 h For 43% of company not already owned. 
  
 j Relative to “unaffected” closing price on 1/16/18. 
  
 k Premium relative to 3/30/16 close. 
  
 m Merged company to be named Novelion. 
  
 n Premium relative to 2/24/15 (before leak of buyout bidding war). 
  
 p Premium relative to 8/18/14 (before speculation re AGN takeover). 
  
 q Premium relative to 4/10/14 (before Pershing Sq accumulation). After the merger, Actavis (ACT) renamed itself Allergan (AGN). 
  
 s Premium excludes contingent fees and is calculated from 
 12/13/13 close, the day before ENDP offer. 
  
 t For 42% of company not already owned. 
  
 u Includes $1.7B assumption of debt; premium relative to 
 3/27/12 close, when Bloomberg reported BMY bid. AZN pays 
 BMY $3.4B to put AMLN’s portfolio into 50/50 JV. 
  
 v Excluding CVR of $4-14/sh; premium relative to 7/22/10 close. 
  
 w For 44% of DNA not already owned. 
  
 x Price includes entire deal in three stages; 17% premium is the 
 blended avg price of NVS’ purchases ($164) relative to ACL’s market 
 price 4/4/08 immediately prior to announcement of first stage of deal. 
  
 y Includes $0.45/sh of contingent payments. 
  
 z Liquidated by Deerfield following failed merger with Archemix.

[DewDiligence]

KTRA reverse-merges with—(private)—TuHURA Biosciences

https://www.prnewswire.com/news-releases/kintara-therapeutics-and-tuhura-biosciences-enter-into-definitive-merger-agreement-302106737.html

TuHURA equityholders are expected to collectively own approximately 97.15%, or 94.55% assuming the distribution of the CVR shares, of the common stock of combined company on a pro forma fully diluted basis.

…TuHURA Biosciences is a Phase 3 registration-stage immuno-oncology company developing novel technologies to overcome resistance to cancer immunotherapy. TuHURA's lead personalized cancer vaccine candidate, IFx-2.0, is designed to overcome primary resistance to checkpoint inhibitors. TuHURA is preparing to initiate a single randomized placebo-controlled Phase 3 registration trial of IFx-2.0 administered as an adjunctive therapy to Keytruda (pembrolizumab) in first line treatment for advanced Merkel Cell Carcinoma.

TuHura’s CEO is Jim Bianco of CTIC fame, who will once again be the CEO of a publicly traded biotech company. Bianco has more lives than a cat.

[walterenergy]

FGEN Fibrogen - why the negative reaction

Hello, would someone please guess as to why the stock is down 40%
I read this press release as fairly positive

Thank you

FibroGen Announces Topline Results from Phase 1 Monotherapy Study of FG-3246 in Patients with Metastatic Castration-Resistant Prostate Cancer
FG-3246 demonstrated efficacy in adenocarcinoma selected cohorts receiving biologically active doses of FG-3246 at ≥ 1.2 mg/kg in heavily pre-treated, biomarker unselected patients:
Median radiographic progression free survival of 8.7 months
PSA50 response in 36% of patients
Confirmed radiographic objective response rate of 20%, with a median duration of response of 7.5 months
FG-3246 demonstrated an acceptable safety profile; adverse events consistent with those observed in other antibody drug conjugate therapies with a MMAE payload
Company plans to meet with the U.S. Food and Drug Administration (FDA) to discuss development pathway; Phase 2 initiation is anticipated in 2H 2024
SAN FRANCISCO, April 02, 2024 (GLOBE NEWSWIRE) -- FibroGen, Inc. (NASDAQ: FGEN) today announced topline data from the Fortis Therapeutics-sponsored Phase 1 study of FG-3246 (also known as FOR46), a potential first-in-class anti-CD46 antibody drug conjugate (ADC) with an MMAE-containing payload, in a dose-escalation and dose-expansion trial enrolling patients with metastatic castration-resistant prostate cancer (mCRPC) whose tumors have progressed on at least one androgen receptor-signaling inhibitor (ARSI).

[Whalatane]

AMRN

Amarin Corporation plc (NASDAQ:AMRN) today announced that the Company received a Decision to Grant from the European Patent Office (EPO) for a new patent covering VAZKEPA® (icosapent ethyl) that will extend VAZKEPA exclusivity eight additional years into 2039.
In addition, the Company recently achieved success defending a separate European VAZKEPA patent from third-party opposition within the EPO.
Collectively, these patents cover both the protocol and results from the landmark REDUCE-IT outcomes study, providing an extended and strengthened exclusivity position for VAZKEPA within the Company’s European market.
“Today’s announcement extends the commercial runway for VAZKEPA in Europe by eight additional years, which enhances the potential impact that this product can have for patients and the growth potential for VAZKEPA across the continent,” said Patrick Holt, President & CEO, Amarin. “Moving forward, we will continue to rigorously defend our IP rights and explore any possibilities to strengthen Amarin’s patents and patent families around the world.”

Gives them time to find independent confirmation of their Reduce It trial results and gain reimbursement in the major EU markets

Kiwi

[DewDiligence]

VNDA—Inasmuch as Iloperidone has been in clinical development for 20+ years, the composition-of-matter patent must have expired, so I presume that VNDA will only have the 3-year Hatch-Waxman exclusivity for new clinical investigation as protection from generic competition..

[Pablo Bio]

amarincorp.com/news-and-media/amarin-provides-update-vazkepar-icosapent-ethyl-intellectual

News & Media
2024-04-03
AMARIN PROVIDES UPDATE ON VAZKEPA® (ICOSAPENT ETHYL) INTELLECTUAL PROPERTY PORTFOLIO IN EUROPE
Company’s IP Protection for VAZKEPA® in Europe Now Extended Into 2039

[DewDiligence]

The bull case is essentially the same as ever: that Daxxify is the best botulinum toxin on the market and that RVNC will make a lot of money in due course. Compared to the original bull case, the only change is that it the initial sales ramp was hindered by RVNC’s overpricing the product, and hence it will take longer for the thesis to play out.

ICYMI: #msg-173870537.

[TheFinalCD]

$abio

Oruka Therapeutics is here. Long-acting IL-23 and IL-17 antibodies for psoriasis and other skin conditions.

The third Paragon Therapeutics spinout.

Reverse merging into $ABIO + $275M PIPE. https://t.co/rGOrPJ1llt

— Adam Feuerstein ✡️ (@adamfeuerstein) April 3, 2024

[RNsidersbuying]

VNDA 4.88 - Vanda Pharmaceuticals' Fanapt® (iloperidone) Receives U.S. FDA Approval for the Acute Treatment of Bipolar I Disorder

https://ih.advfn.com/stock-market/NASDAQ/vanda-pharmaceuticals-VNDA/stock-news/93593630/vanda-pharmaceuticals-fanapt-iloperidone-receives

[jbog]

I've mentioned many times that their sales and management costs are completely out of whack while their therapeutic research is where the money should be spent..

Dismal

[stocksrising]

More consolidation:

ARCA biopharma And Oruka Therapeutics Announce Merger Agreement, The Deal Is Expected To Close in Q3 Of 2024
Benzinga 2024-04-03T07:32:00-04:00

Merger to create a company focused on advancing Oruka's portfolio of novel biologics that aim to redefine the standard of care for patients with chronic skin diseases
Oruka, the third company founded based on assets generated by Paragon Therapeutics, expects to advance ORKA-001 and ORKA-002, potentially best-in-class antibodies targeting IL-23p19 and IL-17A/F, respectively, into clinical trials in 2025
Pre-closing private financing of approximately $275 million anticipated to fund operations through 2027

[zipjet]

RVNC is down close to 90% in the last year.

What is the bull case from here?

[Whalatane]

ANNX. P3 data in Q2 ...anyone following this Co ?
Kiwi

[WorstLuck]

That 8-K seems to be missing.

We'll find out sooner or later. Maybe tomorrow. Maybe not.

[WorstLuck]

I’m pretty skeptical that an eyedrop can work for a back-of-the-eye-disease like AMD, but it would be awesome if it did.

Right drug, wrong delivery. I suspect it will show excellent preclinical data. Pretty skeptical is a bit of an understatement? Has zero chance as an eyedrop.

[DewDiligence]

Kyowa Kirin—>testing cancer drug, tivozanib as_an eyedrop for AMD:

https://www.prnewswire.com/news-releases/kyowa-kirin-announces-acceptance-of-abstract-for-presentation-at-the-association-for-research-in-vision-and-ophthalmology-annual-meeting-2024-302106101.html

I’m pretty skeptical that an eyedrop can work for a back-of-the-eye-disease like AMD, but it would be awesome if it did.

Tivozanib, under the brand name Fotivda, was FDA-appoved for RCC in 2021 (#msg-162474260).

[DewDiligence]

I have no margin debt and no options. I'm playing the long game.

[Biowatch]

RVNC hits $4.45

[DewDiligence]

The new company dropped the unpronounceable stuff and is simply, Traws Pharma.

[jbog]

Could you please include the pronunciation in the future (tra-wus-fin-yiddy-who-gives-ah-rats-azz)

[DewDiligence]

GRTS—(-48%)—adds insult to injury with a warrant-laden financing immediately following yesterday’s clinical failure (#msg-174154327):

https://finance.yahoo.com/news/gritstone-bio-announces-pricing-32-030000199.html

This is something you don't see very often.

[DewDiligence]

VERV—(-38%)—halts enrollment in phase-1b trial:

https://finance.yahoo.com/news/verve-therapeutics-announces-updates-pcsk9-110000434.html

Verve Therapeutics, a clinical-stage biotechnology company pioneering a new approach to the care of cardiovascular disease with single-course gene editing medicines, today announced updates from the Heart-1 Phase 1b clinical trial of VERVE-101… ….the sixth participant treated in the 0.45 mg/kg cohort experienced a Grade 3 drug-induced transient increase in serum alanine aminotransferase (ALT) as well as a serious adverse event of Grade 3 drug-induced thrombocytopenia within the first four days after dosing.

The VERVE-101 program has effectively been shelved in favor of VERVE-102:

Verve is now prioritizing the development of VERVE-102 and the initiation of the Heart-2 clinical trial. VERVE-102 uses the same base editor and guide RNA for PCSK9 but a different lipid nanoparticle (LNP) delivery system than VERVE-101. VERVE-102 has two principal differences from VERVE-101. First, VERVE-102 includes a different ionizable lipid from VERVE-101.

[DewDiligence]

ONTX reverse-merges with—(private)—Trawsfynydd Therapeutics:

https://www.globenewswire.com/news-release/2024/04/02/2855799/0/en/Onconova-Therapeutics-Inc-and-Trawsfynydd-Therapeutics-Inc-Announce-Business-Combination-to-Form-Traws-Pharma-Inc-a-Best-in-Class-Virology-and-Oncology-Company.html

[Equity in the merged company] represents, on a fully diluted basis, 75.7% for Trawsfynydd, 13.7% for Onconova and 10.6% for new investors with a combined fully diluted equity value of $132 million (excluding transaction fees).

… Trawsfynydd is an antiviral drug development company committed to reducing disease and death among people with respiratory viral diseases including Influenza and COVID-19. Trawsfynydd combines excellence in medicinal chemistry with the tools of AI and machine learning [naturally, LOL], to guide and accelerate the drug development process.

ONTX has effectively been a shell company since its clinical failure four years ago (#msg-157831373). The merged company will be called Traws Pharma and will trade on Nasdaq under the ‘TRAW’ symbol.

[TheFinalCD]

$VKTX bouncing off 73's anyone liking it here or wait?

[RNsidersbuying]

XLO 1.38 - nice buy. I exited my last shares yesterday before close and will attempt to swing trade the momentum, shortterm. Longterm, I thought the recent news was pretty dynamic for a $1 biotech stock and may try to build a poke to just hang on?

[DewDiligence]

Recent Biotech Bankruptcies/Liquidations/Dissolutions

[Added ACOR and EIGR.]

 
                     iHub 
 Company      Date   Reference 
 ACOR         4/24   #msg-174156166 
 ADLS         5/11   #msg-62813901 
 AFFY         6/14   #msg-103663749 
 AGIX         1/09   #msg-35019458 
 AKAO         4/19   #msg-148227772 
 ALNA         9/22   #msg-169875553 
 ALPIX.PA    11/23   #msg-173275218 
 ALTU        11/09   #msg-43509933 
 AMB.TO       8/09   #msg-40145970 
 AMPE         4/24   #msg-174111257 
 ANSV         1/10   #msg-45161615 
 ARAV         1/24   #msg-173646720 
 ARDM         2/19   #msg-146903332 
 ARLZ         8/18   #msg-142824112 
 ARNI        12/17   #msg-137120846 
 ARTE        12/08   #msg-33895436 
 ASP.TO       1/23   #msg-171046860 
 ATHX         1/24   #msg-173589749 
 ATNX         5/23   #msg-171913749 
 AXLA        12/23   #msg-173374718 
 BAXS        11/14   #msg-108147336 
 BCART.BR     9/23   #msg-172903024 
 BIND         5/16   #msg-122328088 
 BIOA         5/18   #msg-140549553 
 Biolex       7/12   #msg-77324773 
 BPUR         7/09   #msg-39629524 
 BTTX         3/24   #msg-174037486 
 BVTI‡        3/13   #msg-85440257 
 CALA         1/23   #msg-170898055 
 CBIO         6/22   #msg-169273606 
 CDAK         3/23   #msg-171544942 
 CJB.TO       7/10   #msg-52557510 
 CHKT        12/08   #msg-33949508 
 CLSC         8/09   #msg-40685152 
 CLVS        12/22   #msg-170599077 
 CRXT         9/22   #msg-170229149 
 CWBR        11/23   #msg-173138450 
 DCGN        11/09   #msg-43629379 
 DDXS         6/16   #msg-123229557 
 DMK          2/24   #msg-173773814 
 DNDN        11/14   #msg-108004147 
 DXTR        12/17   #msg-136829445 
 Egenix       1/15   #msg-109921347 
 EIGR         4/24   #msg-174151841 
 ENDP         8/22   #msg-169707980 
 Epix†        7/09   #msg-39900524 
 EPRS         7/16   #msg-123687350 
 EYES         6/20   #msg-156388471 
 FRTX         9/23   #msg-172854853 
 GMDA         3/24   #msg-174125313 
 GNCA         5/22   #msg-168957883 
 GNTA         8/12   #msg-78123007 
 GTOP         9/08   #msg-32249160 
 HEMA         4/12   #msg-74167597 
 HGEN         7/23   #msg-172432338 
 HSTO         9/23   #msg-172847239 
 ILIU         7/17   #msg-133264435 
 IMMG         8/17   #msg-134305213 
 IMNP         2/19   #msg-146936897 
 IMV          5/23   #msg-171814610 
 INFI        10/23   #msg-172941539  
 Inspiration 10/12   #msg-81024196 
 INSY         6/19   #msg-149302493 
 Introgen††  12/08   #msg-33947783 
 Isolagen*    6/09   #msg-38746197 
 KBIO        12/15   #msg-119489701 
 KLDO         4/22   #msg-168491485 
 KV.A         8/12   #msg-78203130 
 LBPS         6/22   #msg-169255625 
 LHDX         2/22   #msg-171275021 
 LIAN         2/24   #msg-173835088 
 LMDX        12/23   #msg-173530663 
 MACK         2/24   #msg-173845049 
 MBRK         4/10   #msg-49658072 
 MBVX         3/19   #msg-151985211 
 MIIS        11/08   #msg-33720220 
 MIPI        12/10   #msg-57646943 
 MLNT        12/19   #msg-153074747 
 MNK         10/20   #msg-158843178 
 MRV.TO       3/23   PR link 
 NBSE         3/24   #msg-174119874 
 NEXI        11/23   #msg-173152495 
 NMTI         4/11   #msg-62251315 
 NMTR         7/23   SEC link 
 NOVN         7/23   #msg-172361873 
 NRGX         3/12   #msg-73415156 
 NRX          5/16   #msg-122331475 
 NSTG         2/24   #msg-173773766 
 NVDL         2/17   #msg-128923029 
 NVIV         2/24   #msg-173755991 
 NVLN         1/20   #msg-153111867 
 NVTA         2/24   #msg-173844970 
 OBSN.SW      2/24   #msg-173937364 
 ODT          3/21   #msg-162706983 
 ONCR         6/23   #msg-172037432 
 ONCS         6/23   #msg-172145325 
 OREX         3/18   #msg-139213097 
 ORPH         3/22   #msg-168169591 
 OSCI         7/09   #msg-39511719 
 OTIC        12/22   #msg-170737355 
 PEAR         4/23   #msg-171639648 
 PHAS        10/22   #msg-170272758 
 PLXP         4/23   #msg-171677346 
 PROMO.ST    10/23   #msg-173007859 
 PTX          2/19   #msg-146937356 
 PYMX         4/13   #msg-86313192 
 PZRX        12/17   #msg-136794351 
 QTNT        12/22   #msg-170676963 
 RCPI         8/16   #msg-127560117 
 REX         11/08   #msg-32189097 
 ROKA         8/17   #msg-133945967 
 ROSG         6/18   #msg-141797330 
 RUBY         2/22   #msg-171270235 
 RVALL        1/20   #msg-153358221 
 RVLP        10/23   #msg-173007859 
 RXPC         7/14   #msg-104103329 
 SCLX         2/23   #msg-171193757 
 SGYP        12/18   #msg-145394802 
 SIEN         2/24   #msg-173834941 
 SIGA         9/14   #msg-106313111 
 SIOX        12/22   #msg-170699458 
 SNNA         9/19   #msg-151196707 
 SPHS         5/20   #msg-155712447 
 SRGA         6/23   #msg-172201878 
 SRNE         2/23   #msg-171193757 
 SVNT        10/13   #msg-92997648 
 TDLP         6/11   #msg-64744114 
 TLCV        12/09   #msg-44751578 
 TMBR        11/23   #msg-173254229 
 TOMDF       12/23   #msg-173490278 
 TPPH         2/08   #msg-26765260 
 VION        12/09   #msg-44654555 
 VLRX         2/20   #msg-153741993 
 VRA         10/07   #msg-18053275 
 VRAY         7/23   #msg-172361873 
 VVUS         7/20   #msg-156752080 
 ZSAN         6/22   #msg-169035970

*Emerged from bankruptcy as FCSC.

†Not to be confused with ESSA Pharma.

††Not to be confused with Inogen.

‡Second BK filing.

[DewDiligence]

ACOR files for bankruptcy—drug portfolio bought by Merz (subject to approval by the bankruptcy court):

https://www.businesswire.com/news/home/20240401939079/en

[DewDiligence]

GUTS—I’ll be astonished if this device works as advertised:

https://www.globenewswire.com/news-release/2024/04/01/2855050/0/en/Fractyl-Health-Receives-FDA-IDE-Approval-for-the-Revita-Remain-1-Pivotal-Study-of-Weight-Maintenance-in-Obesity-after-Discontinuation-of-GLP-1-Based-Drugs.html

Fractyl Health’s lead product candidate, Revita, …is designed to remodel the duodenal lining via hydrothermal ablation (i.e., duodenal mucosal resurfacing) to edit abnormal intestinal nutrient sensing and signaling mechanisms that are a potential root cause of metabolic disease.

…Revita aims to be the first approved therapeutic option for durable weight maintenance after discontinuation of GLP-1 based drugs, as an adjunct to diet and exercise…

[ohmson]

Yes, Sorrento / Henry Ji was notorious through $SRNE existence for pumping one drug after another to make sure management continues to "earn" a salary while bleeding naive investors dry. This happened especially during Covid-19. I think he said something like "short sellers and their family will be real sorry" (super paraphasing because I can't remember the exact phrase).

So his mere association with Aardvark will give me serious pause, not that I care about IPOs in general.

I also didn't realize this is a thing: https://www.reddit.com/r/BANDOFBROTHERSOFSRNE/comments/1ba0mib/congratulations_henry_ji_you_messed_over_everyone/

[DewDiligence]

GRTS—(-40%/AH)—reports purportedly-positive phase-2_data_for colorectal-cancer vaccine:

https://www.globenewswire.com/news-release/2024/04/01/2855416/0/en/Gritstone-bio-Announces-Positive-Preliminary-Progression-free-Survival-and-Long-term-Circulating-Tumor-DNA-ctDNA-Data-from-Phase-2-Portion-of-Ongoing-Phase-2-3-Study-of-its-Persona.html

Gritstone bio…today announced positive preliminary data from the ongoing, signal seeking Phase 2 portion of the Phase 2/3 study evaluating GRANITE, its personalized neoantigen cancer vaccine, in front-line metastatic microsatellite stable colorectal cancer (MSS-CRC).

Circulating tumor DNA (ctDNA) analysis over several months of treatment shows the expected relationship with disease progression and favors GRANITE, while short-term ctDNA response analysis (molecular response as defined per protocol) did not demonstrate a difference between study arms.

Emphasis added.

[vinmantoo]

Why wouldn't the Sales or Pricing represent your statement?

That is what the clinical trial data and data from patients after approval shows.

Revance is trading at $5 for a reason.

Yeah, they botched the launch with their premium pricing strategy. I thought you were paying attention.

[jbog]

Daxxify is proving superior on the aesthetic side being faster acting and lasting longer.

Why wouldn't the Sales or Pricing represent your statement? Revance is trading at $5 for a reason.

[bladerunner1717]

I was able to get XLO at $1.16 this morning. Not sure why it took so long to gap up, but I'll take it.

Bladerunner

[DewDiligence]

EIGR files for bankruptcy:

https://www.globenewswire.com/news-release/2024/04/01/2855277/0/en/Eiger-BioPharmaceuticals-Files-for-Voluntary-Chapter-11-Protection.html

[vinmantoo]

It isn't showing that from the aesthetics side and it looks like the Neuros are playing games on the therapeutic side.

Daxxify is proving superior on the aesthetic side being faster acting and lasting longer.

What games are you talking about on the therapeutic side?

[jbog]

If the only thing I knew about RVNC was that they had the most superior Botulinum toxin on the market

It isn't showing that from the aesthetics side and it looks like the Neuros are playing games on the therapeutic side.

[WorstLuck]

If the only thing I knew about RVNC was that they had the most superior Botulinum toxin on the market for years ahead, would that automatically confer/ bestow immediate stock value

That makes the assumption that sales will grow at an appropriate pace. One can do that. Or one can take the approach that sales can't be assumed and look for development of market share first. There are also other approaches.

Given no announcement on the final borrowing tranche, it appears there is a bonus day or two before we find out the material information on that loan, or if it was not made. Traders place your bets!

[swampboots]

If the only thing I knew about RVNC was that they had the most superior Botulinum toxin on the market for years ahead, would that automatically confer/ bestow immediate stock value translated into, now at its current stock price and current management , is the compelling time to buy RVNC? And what argument would I use to duel with distractors who contend RVNC must dilute , to boost their financial' s by adjusting stock price lower with the value of those shares sold allowing them to remain solvent, insuring inflicting near term pain for current stock holders?

[DewDiligence]

FDA clears ABT’s 15-minute test for TBI/concussion:

https://finance.yahoo.com/news/abbott-receives-fda-clearance-whole-130000849.html

Note: This is not the hand-held diagnostic ABT is developing to give TBI results from a simple finger prick (#msg-172397644).

[DewDiligence]

You could well be right. We'll know more when they go public.

[tickertutor]

The folks and dealings associated with Aardvark's history just seem a little sus to me, although maybe there's really nothing there to be concerned about. I can understand there's a lot of back scratching that goes on in business in general, but... it just peaked my interest when i noticed the association with Sorrento's Henry Ji who's a bit of a controversial character in biotech especially during Covid-era and served on Aardvark's board of directors following the transaction Sorrento struck with Aardvark (https://investors.sorrentotherapeutics.com/news-releases/news-release-details/sorrento-therapeutics-and-scilex-holding-majority-owned) Also Vickers being one of Aardvark's Series A investors, Vickers involvement with $SCLX which was majority owned by Sorrento and brought public via Vickers Vantage spac. I can only assume Ji and Aardvark's founder/CEO Tien Lee met while Lee was at NantKwest (most of Aardvark's leadership team came from $NK now $IBRX). Remember that Scilex was majority owned by Sorrento prior to their coming public in 2022, and Tien Lee Aardvark's CEO joined Scilex bod in late Feb '19. This was 2 years ahead of ARD-301 licensing by Sorrento/Scilex... and then there's the whole Sorrento bk. There's just so much incestuous stuff going on here, and yet, maybe it says nothing about the legitimacy of Aardvark. IDK.

[tickertutor]

associated with both AVTX and IBIO on the same day. 🤷 good for him.

[mouton29]

Kaiser is a very busy guy

Indeed, he is a practicing surgeon, full professor, is involved in a large number of clinical trials and probably runs marathons while playing the ukelele.

I found it mildly interesting that the employment contracts for the new full time employees were attached as exhibits to the 10-K, available here. https://www.sec.gov/ix?doc=/Archives/edgar/data/1393434/000155837024002902/ocul-20231231x10k.htm But not the two part time employees. I looked because I was curious how one might draft the 50% provision, would the employee be required to keep time sheets at each of his activities? If his surgeries in a week/month/year (or whatever the relevant testing period is) last longer than expected, I suppose that means he has to work more hours for OCUL. Seems completely impractical and if I had to guess, the product of some lawyer not living in the real world. So not surprising someone woke up and got rid of it.

[vinmantoo]

You underestimated my laziness!! 😂

[Whalatane]

Well my ploy was to get you to verify it .
So obviously I've failed in that endeavor :--)
Kiwi