Biotech Values

[WorstLuck]

EYPT

If you can't find real or potential issues with small biotechs, you aren't trying very hard.

The market doesn't appear to have been impressed by the investor day, either. Price is at the lows for the year, short interest is up considerably (sources vary) and something you don't see too often - institutional share 109%. Of course some recent institutional buying/selling hasn't been reported yet. Just a curiosity for now.

One other thing that bothered me from investor day was a KOL who said they would probably try it first (assuming approval) on those getting the worst duration currently. While I can understand wanting to give these people some relief - these are also the people who will be most likely to need 2(!) or more(!) rescues in the 6 months following treatment with 1901. Real world 1901 just isn't a 6 month drug is my best guess - although there will be people who get more than 6 months. I'm guessing that the patients who don't do well on Eylea (those the KOL are talking about and wouldn't qual for the trial) will still need multiple rescues in the 6 month redose period. Even in the trial there should be something up to or around 20% who need rescue after 4 or 5 months and given the larger size of the trials there stands to be a chance of some who need rescue at 3 months.