We are back to having only a single portfolio in the black for the week, which I’ll report in due course.
Again it was a week of “market bad (-2.6%) / biotech worse (-4.1%)”.
At least this week there were two portfolio stocks with remarkable (LIAN, +140%) and pretty good (MOR, +29%) returns, and with some story to justify the uptick. For LIAN, a press release on Tuesday disclosed an agreement with Bristol, Myers, Squibb for rights for development and exclusive commercialization in China and five other East Asian markets of mavacamten a heart medication. On top of that they also announced favorable clinical trial data of a drug to treat locally advanced or metastatic gastric cancer. In the case of MOR, steady climb through the week started with the release of third quarter financials, with US sales showing modest but significant increases year over year (6-7%). With a gross margin of 75% or so almost all goes straight to the bottom line, which apparently institutional investors (which dominate the $1Billion market cap company’s stock ownership) thing is Good News. This is such good news that LIAN catapulted into 3rd place for YTD returns (+140%) ahead of DNTH, and pushing ISEE right off the list. This week’s results also strengthened MOR’s hold on fifth place (+110%).
For the bad boy list INZY is AGAIN in top place, but only -16% this week, still in the top YTD return, +170%, but dropping close to PRVB, whose return of +140% was fixed when it was bought out earlier this year.
The new bottom of the barrel YTD performer, RGPTQ (-98.7%) would not look familiar, but it's been a point of discussion in an earlier report. In the beginning of year it traded as PTE (for PolarityTE) at around $0.70, buoyed up by initial reports of a single buyer taking it private at a premium $1.00/share, subject to do diligence. Well, he must have been particularly diligent because he walked away from the sale, whereupon PTE dropped to the penny stock level, delisted on NASDAQ, and trading over the counter with the symbol PTEIQ. This week it appeared in the report with a YTD return of -100%. This was an artifact of Yahoo not returning any price for the weekly data dump. But when I tried to see what had caused putting the company’s worth to a stone cold zero, there wasn’t a lot of information on Yahoo, or via a Google search. The SEC database to the rescue, which revealed that a few weeks back PolarityTE became RegenETP, supposedly trading as RGTPQ. (The simultaneous news that the CFO was dropped from his position and board seat probably had nothing to do with later events.*) If you ask Yahoo straight out for the skinny on RGPTQ it will just look at you blankly and serve up some news on Microsoft. But eventually I found that the link in in a downloaded spreadsheet was good enough to see what was happening. If the stockholders of Polarity thought a name change and new ticker might have attracted some positive interest, then they have been disappointed. Last week’s closing price was $0.076, this week RGTPQ closed at $0.0086, giving a YTD return of -98.7% (but I guess it’s better than -100%). I’m not sure how a company that supposedly has trials underway and actual sales of approved products can end up with a market cap of $63k.
For the contest this week is just another in a series, shaving another -$2.4k from the average portfolio.
As I noted, BMAZ001 is the only portfolio in the black for the week, a repeat from the last week where they shared the honor with DEW DILIGENCE and GENEGURU. Last week a position in third place for the week GTHX (+6%) was the foundation for a net return of $280. This week they were the sole investor in LIAN, so their net return is the more substantial +$11.7k for the week. The second place portfolio for the week is RKRW, where holding for MOR mitigated their other pick’s losses, losing only -$1.1k for the week, changing places with STEVE LOKNESS to take second place in the YTD ranking. This was the only modification in the ranking of the top seven.
ALONER still holds the top position, but their -$8.4k loss for the week made it quite close, ahead by only $240 from RKRW. Regrettably with this loss ALONER’s YTD performance has sunk below the waves into the red, -$6.7k. For the first time this year none of the contest portfolios are returning a profit for the YTD. A ALONER’s weekly performance is not due to a big loss in a single holding, but rather mediocre losses in every one of his stock choices.
Have a happy Halloween, and stay safe, everyone.
*Or as suggested elsewhere, the CFO is the most likely executive officer to take a hike when things go south as they don’t have the scientific or clinical expertise to easily switch to another biotech job, but can switch to a different industry. Plus, my opinion, if you are a CFO, you probably don’t like negative numbers on the balance sheet.
Report Time Ranges
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From
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To
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Recent
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10/20/23
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10/27/2023
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YTD
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12/31/2022
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Index Portfolios’ Performance
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Symbol
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Recent P/L
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Recent %
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YTD P/L
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^IXIC
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-$3,256.08
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-2.6%
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$20,795.24
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^NBI
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-$3,694.65
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-4.1%
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-$13,673.48
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^SPSIBI
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-$3,315.51
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-4.1%
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-$22,756.18
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Share Performance
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Recent Performance
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YTD Performance
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Top Five
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Bottom Five
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Top Five
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Bottom 5
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Symbol
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P/L / Initial Price
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Symbol
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P/L / Initial Price
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Symbol
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YTD P/L / Initial Price
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Symbol
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YTD P/L/ Initial Price
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LIAN
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138.5%
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INZY
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-16.2%
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INZY
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158.1%
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RGPTQ
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-98.7%
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MOR
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28.8%
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ALGS
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-14.8%
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PRVB
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136.5%
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AVTX
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-98.0%
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ORIC
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10.5%
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CRVS
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-13.5%
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LIAN
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117.9%
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APTA.L
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-97.2%
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STTK
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7.8%
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EYEN
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-13.5%
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DNTH
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115.2%
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TCON
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-89.1%
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KRYS
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6.6%
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IMTX
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-13.4%
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MOR
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112.8%
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IDIA.SW
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-87.6%
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Average and Median Portfolio Performance
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Recent P/L
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YTD P/L
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Avg.
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Median
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Avg
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Median
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-$2,399.16
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-$2,704.05
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STEVE LOKNESS
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-$33,889.86
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-$40,214.39
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TOMATO
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Top Seven Portfolio Performances
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Top Recent Performers
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Top YTD Performers
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Contestant (Prev. Rank)
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Recent P/L
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P/L vs. ^SPSIBI
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YTD P/L (Rank)
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Contestant (Prev. Rank)
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YTD P/L
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vs. Top Portfolio
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P/L vs. ^SPSIBI
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Rec. P/L (Rank)
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1 - BMAZ001 (2)
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$11,740.75
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$15,056.25
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-$48,723.17 (12)
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1 - ALONER (1)
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-$6,731.19
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——
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$16,025.00
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-$8,420.92 (15)
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2 - RKRW (9)
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-$1,134.48
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$2,181.02
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-$6,973.88 (2)
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2 - RKRW (3)
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-$6,973.88
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$242.70
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$15,782.30
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-$1,134.48 (2)
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3 - TECHNETIUM (7)
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-$1,482.82
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$1,832.68
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-$40,971.46 (10)
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3 - STEVE LOKNESS (2)
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-$8,445.29
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$1,714.10
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$14,310.90
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-$2,704.05 (8)
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4 - JACK HARTMANN (6)
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-$1,516.32
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$1,799.18
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-$40,489.74 (9)
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4 - ERIKOTTO (4)
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-$14,495.00
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$7,763.81
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$8,261.19
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-$4,580.63 (12)
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5 - BLADERUNNER (15)
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-$1,630.33
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$1,685.18
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-$28,379.24 (6)
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5 - A.J. MULLEN (5)
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-$19,466.37
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$12,735.19
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$3,289.81
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-$4,698.32 (13)
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6 - RAJU_BIJLEE (8)
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-$2,251.18
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$1,064.33
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-$62,251.90 (15)
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6 - BLADERUNNER (6)
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-$28,379.24
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$21,648.05
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-$5,623.06
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-$1,630.33 (5)
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7 - TOMATO (10)
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-$2,680.82
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$634.69
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-$40,214.39 (8)
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7 - ARTHUR RADLEY (7)
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-$39,817.66
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$33,086.47
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-$17,061.48
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-$4,719.20 (14)
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Top Portfolios’ Contents
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Top Recent Performance Portfolio (BMAZ001)
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Top YTD Performance Portfolio (ALONER)
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Symbol (Rank)
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Current Allocation
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Value/Total | ROI
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YTD Stock P/L
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Recent Stock P/L
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% Current Price Change for $1,000 P/L
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Symbol (Rank)
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Initial Allocation
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Value/Total | ROI
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YTD Stock P/L
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Recent Stock P/L
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% Current Price Change for $1,000 P/L
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AADI
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10.0%
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6.5% | -66.8%
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-$6,677.09
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$125.10
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30.1%
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AFMD
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10%
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3.7% | -72.4%
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-$9,142.60
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-$480.02
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28.7%
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ACRS
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10.0%
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5.5% | -71.9%
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-$7,193.65
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-$546.03
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35.6%
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CDTX
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10%
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13.1% | -3.2%
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-$406.62
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-$1,259.93
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8.2%
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AVTX
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10.0%
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0.4% | -98.0%
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-$9,801.98
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-$45.44
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505.0%
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CLSD
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10%
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8.6% | -36.1%
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-$4,562.96
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-$1,346.09
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12.4%
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BCAB
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10.0%
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3.0% | -84.6%
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-$8,460.61
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-$400.00
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65.0%
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CRDF
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10%
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10.0% | -26.1%
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-$3,300.58
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-$355.33
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10.7%
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ELYM
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10.0%
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13.8% | -29.2%
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-$2,915.53
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-$190.74
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14.1%
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CRIS
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10%
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4.5% | -66.4%
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-$8,390.83
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-$333.38
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23.6%
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GTHX
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10.0%
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5.5% | -72.0%
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-$7,200.74
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$92.08
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35.7%
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CRVS
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10%
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16.9% | 24.8%
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$3,130.37
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-$1,618.04
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6.3%
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LIAN
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10.0%
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42.5% | 117.9%
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$11,787.71
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$13,854.75
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4.6%
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KZIA
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10%
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11.1% | -17.9%
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-$2,256.75
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-$1,279.12
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9.6%
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LRMR
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10.0%
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12.6% | -35.6%
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-$3,559.32
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-$629.54
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15.5%
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DNTH
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10%
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26.1% | 92.8%
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$11,718.58
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-$1,104.80
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4.1%
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PDSB
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5.0%
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3.0% | -69.5%
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-$3,477.27
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-$34.09
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65.7%
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MRNA
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10%
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5.9% | -56.8%
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-$7,171.63
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-$644.20
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18.3%
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PIRS
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10.0%
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4.3% | -78.1%
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-$7,805.77
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-$296.15
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45.6%
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PRVB
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10%
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0.0% | 136.5%
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$13,651.84
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$0.00
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--
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PRQR
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5.0%
|
3.1% | -68.4%
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-$3,418.92
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-$189.19
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63.2%
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