Comments on: Biotech Portfolio Updates - Rigel Is Still On Track, Pfizer May Have Found Its Next Blockbuster

By: Ohad Hammer

Ohad Hammer — Tue, 25 Aug 2009 15:10:38 +0000

Thanks, Richard.

TASKI2 was the successful one. It was TASKI3 that failed.
I don’t have a concrete opinion on them. On the one hand, as an oral drug, R788’s has a good probability to be used before TNF inhibitors, so a lot of the commercial potential remains intact. On the other, there is a huge patient base who are not adequately controlled with TNF therapies and that will probably decrease the value of the drug in the eyes of potential partners.

By: Richard

Richard — Tue, 25 Aug 2009 14:56:27 +0000

Ohad, always fun to read your blog. What do you think of Rigel now with their not so exciting TASIK2 trial data. Thanks, -Richard

By: Ohad Hammer

Ohad Hammer — Sat, 07 Feb 2009 13:09:36 +0000

Thanks, Jason.

I don’t follow them closely, but last time I checked their data in pancreatic cancer was problematic.

By: jason

jason — Thu, 05 Feb 2009 02:52:34 +0000

New reader, love the layout and brief updates. I was wondering your thoughts on GNVC. They are looking for a partner and maybe a good deal, it also seems that might have a good platform for some future work.

Thanks

By: Ohad Hammer

Ohad Hammer — Tue, 27 Jan 2009 15:05:42 +0000

DNA, I guess

CVTX’s reaction is very intriguing. They won’t even talk to Astellas about a $1B offer…

btw, speaking of antibody platforms, Astellas acquired Agenesys which was a very interesting antibody comapny. Next year, Astellas and SGEN will promote their joint ADC, AGS5 to the clinic. Should be interesting from what I hear.

By: Stephen

Stephen — Tue, 27 Jan 2009 14:50:52 +0000

Thanks for the reply. I see CVTX gets a bid, which one from the portfolio is next?

By: Ohad Hammer

Ohad Hammer — Tue, 27 Jan 2009 06:24:16 +0000

Thanks Stephen.

It seems that both EXEL and IMGN will have meaningful announcements already this Q.

The market for antibodies is certainly poised for strong growth andI am constantly looking for new antibody companies. My top three picks in the industry are obviously SGEN,MITI & IMGN, who have exciting platforms with proof on concept in man. Other than that, there are several other companies i am following but most of them don’t have a platform but a specific candidate. There are also some interesting antibodies developed by large companies that are not pure antibody companies.

I am not a big fan of MEDX although they have a good technology and impressive scientific capabilities. There is just nothing attractive there in terms of products, but that may change because they have a very broad pipeline. I don’t like their focus on immuno-modulation, too risky imo.
There are also a couple of european pure plays, including Ablynx and Morphosys that seem to have interesting technologies.

Ohad

By: Stephen

Stephen — Mon, 26 Jan 2009 13:01:10 +0000

Very good website. Your EXEL pick turned out very well, I have been following your comments with regard to IMGN as I am slightly long.

I’m looking for other biotechs in the antibody space, as I, rightly or wrongly, believe these will have less late-stage failures / side effects. You have DNA, AMGN, SGEN, MITI, and IMGN in your portfolio, but do not have other small/micro-caps like: MEDX? Do you have any recommendations in this space?

By: Ohad Hammer

Ohad Hammer — Mon, 12 Jan 2009 23:53:04 +0000

Hi Lauren

We plan on adding SGEN as well this month. Nothing has changed there as far as I know.

Ohad

By: lauren

lauren — Sat, 10 Jan 2009 15:28:05 +0000

Great insights Ohad, as usual.

Last month you mentioned SGEN alongside with RIGL as stocks you were planning to buy more of. I’m heavily invested in SGEN and was just wondering whether ther’s a reason you didn’t added there as well.

TIA
lauren

By: Ohad Hammer

Ohad Hammer — Fri, 09 Jan 2009 06:54:33 +0000

Thanks, biopro.
I guess you might be right in PFE’s case, people just don’t care about pipeline and clinical results anymore, but that’s not a surprise with the ongoing market atmosphere. RIGL’s case is less complex, and to me it resembles the ARQL and EXEL deals with some minor differences. Basically, the company promises a lucrative deal and inverstors don’t believe it. I believed EXEL’s management and I also believe RIGL’s management when they provide such a specific and consistent timeline. Just to make things clear, it has nothing to do with whether R788 eventually gets approved or not, only with the mission of getting a lucrative deal.

Ohad

By: biopro

biopro — Thu, 08 Jan 2009 17:39:23 +0000

Excellent article Ohad, but I am not sure I agree with your conclusions on Rigel and Pfizer. Both companies are so hated by so many investors that it will be long before we see the two trading much higher.
I liked your EXEL and ARQL moves, classic “against the herd” thinking, and also made a buck in those two. This time, I’d rather go with the market.

Anyway, keep up the good work, the performance of your portfolio is very impressive.

By: Ohad Hammer

Ohad Hammer — Thu, 08 Jan 2009 15:33:30 +0000

Thanks for the kind words, Manish. Regarding SNTA, straddles sound like a good idea, because the movement will probably be extreme either way.
I always post when we make changes in the portfolio, so you can count on that.

Best,
Ohad

By: Manish

Manish — Thu, 08 Jan 2009 13:43:42 +0000

Ohad,

Your blog is the best. Very thorough research. I follow your picks quite a lot. Did so on EXEL, but sold off on ARQL when it dropped after the deal I agree on your SNTA consensus, its a coin flip on the outcome of the trial. I am considering buying some straddles on SNTA. Hope you will post again when you acquire PFE and SGEN.

By: Peter Quinn

Peter Quinn — Wed, 07 Jan 2009 23:00:10 +0000

Hi. I am a long time reader. I wanted to say that I like your blog and the layout.

Peter Quinn