So, a decent week for Biotech stocks, with the NASDAQ Biotech index handily beating the S&P Biotech Index (2.8% vs 1%), but it was an even better week for the rest of the market (NASDAQ Composite up 6.8%).
The top performing stock was CBIO, which saw a factor of 3 improvement in a week, taking it up to the second place stock for YTD performance, 35% in the black. The reason for the bump was not because of some great biotech breakthrough, but because it sold IP, a “portfolio of protease medicines”, to Vertex Pharmaceuticals (VRTX) for cash. VRTX showed a more modest weekly gain of 5.9%. So the big news for CBIO is I guess that they have cash to run the burn rate for a while before looking for more investment (and dilution of share worth). In the case of VRTX, it shows that the market thinks they’re getting what they paid for, with maybe a little premium.
Mind you, I tend to worry when a company starts selling its IP to keep the doors open, but it certainly boosted the share price. Per Yahoo:
“This sale is part of the ongoing strategic process that we announced in February to explore alternatives and create value for shareholders. We have significantly reduced our cash burn and continue to work with our advisors to evaluate additional strategic alternatives for Catalyst," said Nassim Usman, CEO of Catalyst Biosciences
The big loser was GNCA, now ending up as the worst issue YTD, to 95% in the red. And the reason? MarketWatch had an article with the title "Genocea Biosciences to shut down”, which says they are asking to be “delisted” from NASDAQ and plan to lay off all remaining employees. Which I guess means it will be equal to $0.00, right? At some point I suppose Yahoo finance will stop quoting a value.
When the music’s over, turn out the lights.
Moving on to portfolio performance, the average or median performance is in the black for the week, somewhere between the two bio-tech indices. The portfolio with the best performance of the week, up 24% for the week (or a net gain in value of $12,000), was BIO-TITAN, which he could thank CBIO for. In terms of the top ten portfolios, eight were in the black for the week, and six beat the S&P biotech index. A little more movement in the top ten than last week, even if DIEGOSAN and DEW DILIGENCE have been in positions 1 and 2 for seven weeks now. Welcome back BRENDAN_49 and JFM WINTER after absences of three weeks and four months respectively.
|
Report Time Ranges
|
|
|
From
|
To
|
Recent
|
5/20/2022
|
5/27/2022
|
YTD
|
12/31/21
|
Index Performance
|
|
Symbol
|
Recent
|
YTD
|
|
^IXIC
|
6.84%
|
-22.46%
|
^NBI
|
2.83%
|
-19.71%
|
^SPSIBI
|
1.02%
|
-36.39%
|
Share Performance
|
Recent
|
YTD
|
Top 5
|
Bottom 5
|
Top 5
|
Bottom 5
|
CBIO
|
223.684%
|
GNCA
|
-70.321%
|
MACK
|
40.41%
|
GNCA
|
-94.66%
|
DNA
|
22.989%
|
AVDL
|
-34.896%
|
CBIO
|
34.57%
|
PRQR
|
-91.51%
|
CLRB
|
21.822%
|
LQDA
|
-29.706%
|
FENC
|
32.27%
|
VLON
|
-90.61%
|
ETTX
|
21.389%
|
AYLA
|
-27.619%
|
OPTN
|
28.40%
|
CRIS
|
-84.87%
|
PRTG
|
20.885%
|
ATHX
|
-19.110%
|
VRTX
|
24.65%
|
AMBS
|
-84.38%
|
|
Top 10 Portfolio YTD
|
YTD(Portfolio - SPSIBI)
|
Rec
|
Rec(Port. - SPSIBI)
|
DIEGOSAN
|
-11.67%
|
24.73%
|
1.121%
|
0.104%
|
DEW DILIGENCE
|
-23.10%
|
13.30%
|
0.702%
|
-0.315%
|
TECHNETIUM
|
-28.79%
|
7.61%
|
1.320%
|
0.303%
|
JACK HARTMANN
|
-28.84%
|
7.56%
|
1.030%
|
0.014%
|
GENEGURU
|
-30.42%
|
5.97%
|
-1.224%
|
-2.241%
|
BIOSCIENTISTSA
|
-33.81%
|
2.59%
|
-0.486%
|
-1.503%
|
A.J. MULLEN
|
-33.85%
|
2.54%
|
2.794%
|
1.777%
|
BRENDAN_49
|
-34.94%
|
1.45%
|
3.520%
|
2.503%
|
JFM WINTER
|
-35.26%
|
1.13%
|
5.802%
|
4.785%
|
ROCKY9
|
-35.53%
|
0.86%
|
2.425%
|
1.409%
|
Average and Median Portfolio Performance
|
|
Avg Recent
|
Avg YTD
|
Median Recent
|
Median YTD
|
|
$1,222
|
-40.54%
|
DIEGOSAN
|
$995
|
MOPGCW
|
-39.46%
|
2.25%
|
TAMBORELLI
|
1.771%
|
|
