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Biotech / Medical : biotech firesales

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From: tuck	1/23/2019 10:12:50 PM
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A number of firesales today despite an OK overall day for the market: URGN (secondary ~17% if AH included), SYRS, SELB (secondary), CGIX, BLPH (secondary), IDRA. URGN just reported solid phase 3 data in niche oncology indications that have little competition. It ran up into the data, and then held its ground until this offering. Contrast with MRTX, which might have a marketable KRAS drug, but is not without heavy competition. Maintaining highs. I think URGN is worth a look when the secondary dust settles. A charity pick, but I have no position as yet. I don't think we've seen the terms yet for any of these deals. Market is assuming the worst for today's. So not sure if this says something about overall demand for the sector. Cheers, Tuck

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