Ethan Hoag

Biotech/Medtech. Not investment advice

[J @jayabacus]

I'm still long $AVR, I think it's low hanging fruit here. Yes, it's up from my initial entry of mid 5's (zero X interest/engagement at the time) but I've added more since.
We have to think of privately held MiRus as the best comp, in fact it's really the only comp. The purchase by BSX would value AVR at $45 per share and my research suggest AVR is superior to MiRus in a few key areas. $MDT and $EW are the other players. MDT is in trouble with respect to their TAVR Evolut valve and the business is almost all moving to EW, this may be why the charts diverged over the last year.
This leaves MDT in a tough spot. Their long term study blew up because of the material is made from porcine, all the other valves are bovine. Porcine failed because of lack of durability. They need AVR but will not pay 400% premium to the stock price as MiRus was private, this is an easier to digest. Over time it is my view that AVR will continue to appreciate ... (I'll follow this up with a part 2 if there's enough interest?)

[Ethan Hoag @EthanHoag]

@sharkbiotech This? https://t.co/62qLPQ2HFR

[Ethan Hoag @EthanHoag]

@jq1234t Great deal for $SNY

[Ethan Hoag @EthanHoag]

@MattBiotech Very clean story. Always thought it made sense for a larger co (RARE, BMRN, etc) to take them out, and new ceo has a history of doing that.

Offering now wouldn’t add much to cash runway without being highly dilutive. They do have 45mil left on their debt facility to use also

[Ethan Hoag @EthanHoag]

@nociFTW $incy has their JAKi povorcitinib in two phase 3 trials now. Data expected 2025.

Phase 2:
59% vs 31% pbo HiSCR at week 12. Lower at week 16, though. >80% Ada-naive.

[Ethan Hoag @EthanHoag]

From the BofA conference today: $INZY Top-line INZ-701 ENPP1 data pushed to Q1 next year. Will share data from all cohorts of both trials (ENPP1 and ABCC6) at an investor event.

[Ethan Hoag @EthanHoag]

$ARGX Vyvgart $75 mil for Q2. Blows out consensus

[Ethan Hoag @EthanHoag]

@BioValues Noise from n=3 at the lowest dose. The visit before everyone was well within the normal range. Really think we need a higher dose to draw any conclusions.

[Ethan Hoag @EthanHoag]

Guess I should have asked sooner 🤷🏻‍♂️

[Ethan Hoag @EthanHoag]

$INZY Where's the data?

[Ethan Hoag @EthanHoag]

$INZY Where's the data?

[Ethan Hoag @EthanHoag]

@sunrgu Need to see how the new dosing schedule compares to the P2a and cross-trial vs nemo and dupi

[Ethan Hoag @EthanHoag]

When does REGN just buy $KNSA? Not hard to make the numbers work

[Ethan Hoag @EthanHoag]

@AaronRosenblum5 Maybe, worst case they sell vix to someone else

[Ethan Hoag @EthanHoag]

@adar170 Financing overhang gone?

[Jacob Plieth @JacobPlieth]

Kamal Menghrajani on $ABBV navitoclax + Jakafi in 1L myelofibrosis (single-cohort ph2 trial) #ASCO22