Biotech Investor

Learn to invest in biotech like the professionals from a former biotech executive and investment banker. For education purposes only. Course on Thinkific

[Night Owl Biotech Research Group @NightOwlBiotech]

History of al 62 comm'l-stage oncology focused bios since 1/1/13 (SP @ approval date +2)

18 of 62 acq @ gains
9 @ losses
3 went bankrupt/delisted
32 still independent, 7 trade higher

$EGRX $HRTX $RIGL $CHRS $KPTI $ONC $URGN $MGNX $ADCT $WHWK $IMCR $LEGN $BLRX $XERS $CTXR $ARVN

[Night Owl Biotech Research Group @NightOwlBiotech]

5 & 10-yr multiples paid last 9 comm'l-stage bio M&A trx

Ave 5-yr multiple=0.84X, median=0.88X
Ave & median 10-yr multiple=0.33X

Hypothetical: If $TARS was acq for 0.90X 5-yr &/or 0.33X 10-yr (HUGE IFs) that w/b $4.85B via consensus if accurate

or $103.50 per 3/31/26 Cap Table

[Yair Einhorn @yaireinhorn]

1/🚨WOW! Feng Zhang’s new delivery company Aera Theraputics has presented in #ASGCT2026 new and promising preclinical data of its leading program AERA-109 - a targeted In Vivo CAR-T therapy designed to treat multiple B cell-mediated autoimmune diseases which uses Area’s proprietary and promising new delivery platform - targeted lipid nanoparticle (tLNP). 🧵👇 $XBI

[Biotech Investor @learnbiotech]

@yaireinhorn @Biotech2k1 @BiopharmIQ @Maximus_Holla @Pharmdca @BiomedicalRX @CrisprGlenn Thank you for the kind words dear friend. For biotech investors, @yaireinhorn is a must follow

[Yair Einhorn @yaireinhorn]

Here is a list of wonderful friends who without their constant support & encouragement I would never be able to reach so many people and for that I will always be grateful! ❤️🙏
@Biotech2k1
@BiopharmIQ
@Maximus_Holla
@Pharmdca
@BiomedicalRX
@learnbiotech
@CrisprGlenn
@JessieChimni
@Andre_AGTC
@TohJah7809
@JohnPDalyJr
@pawcio2009
@WallStSai
@monetization_x
@ablidy
@drrichjlaw
@GeneInvesting
@zhaoweiasu
@chuminhua432
@LeoNelissen
@BrandonVanZee
@erwtrades
@jimbo6607

[Yair Einhorn @yaireinhorn]

Here is another ground breaking research from Prof. @davidrliu - from Harvard & @broadinstitute and the co-founder of @BeamTx - $BEAM & @PrimeMedicine - $PRME, in which a new directed evolution of structured RNA motifs that enhance the efficiency of prime editing was introduced 🧵👇. According to this new research a use of these motifs resulted in substantial Prime Editing efficiency gains, including at sites of pathogenic mutation in primary human stem cells and in immortalized human bronchial epithelial cells using different delivery methods. The importance of these new findings is that this could make Prime Editing-based Therapies much more effective.

[Night Owl Biotech Research Group @NightOwlBiotech]

Comm'l-stage non-oncology focused bio ($1B+ MC) multiples via updated estimates post Q126 CCs. Royalty aggs $RPRX $LGND, patent $HRMY excl

$ARDX $ACAD $BCRX $XERS still appear a value v peers

Highest multiples $ARWR $KRYS $CRSP

$XBI $IBB $DNLI $CYTK $IONS $RYTM $CRNX $TVTX

[Yair Einhorn @yaireinhorn]

For me ��� has always been and is now more than ever 🧵👇about community and supporting others as much as possible. So, here is a list of top-tier BioTech and Financial accounts who create exceptional content & who are IMO A MUST FOLLOW👇
@Biotech2k1
@BiopharmIQ
@Maximus_Holla
@Pharmdca
@BiomedicalRX
@learnbiotech
@CrisprGlenn
@JessieChimni
@Andre_AGTC
@TohJah7809
@JohnPDalyJr
@pawcio2009
@WallStSai
@ablidy
@drrichjlaw
@GeneInvesting
@zhaoweiasu
@chuminhua432
@LeoNelissen
@BrandonVanZee
@erwtrades
@jimbo6607

[Biotech Investor @learnbiotech]

Interesting things about this which show the plethora of options biotechs have:
- assets originated out of China
- management team that sold a prior company (RayzeBio)
- Had geared up to go public via IPO
- Pivoted to a Reverse merger with a large PIPE
- Eventually sold to UCB

[Adam Feuerstein ✡️ @adamfeuerstein]

UCB buying Candid Therapeutics, privately held developer of T cell engagers. $2.2B

https://t.co/sG2Ke5wK8l

[Biotech Investor @learnbiotech]

Investors should be aware of sub-sectors that fall in and out of favor amongst venture capital investors

Cell and gene therapies have seen a marked decline in funding since last year. So have nucleic acid therapies, to a lesser extent

However, these are areas that continue to be active in the M&A sphere

#learnbiotechinvesting #biotech #investing #BiotechPrometheus

[Yair Einhorn @yaireinhorn]

The excellent @biospace 📊👇shows the 5 biggest IPOs in BioTech history. At the top of this list is of course Kailera Therapeutics $KLRA with its $625M blockbuster IPO - the largest public offering in recent years. The one that caught my eye is $SANA which its $588M IPO 🧵👇 is second - besides $KLRA, only to $MRNA. $XBI

[Yair Einhorn @yaireinhorn]

1/WOW! @AllogeneTx has reported top tier clinical data from its Phase 2 ALPHA3 trial aimed to evaluate cema‑cel - $ALLO allogeneic CD19 CAR T Cell Therapy for first-line (1L) consolidation in large B-cell lymphoma (LBCL) cancer. A huge milestone for allogeneic Cell Therapies!

[Yair Einhorn @yaireinhorn]

Here is my favourite weekly 🧵- made by my dear friend @BiopharmIQ. This post is a comprehensive recap of the past week in BioTech and gathers the best related posts written by some of the smartest & brightest 𝕏 Bio accounts - all into one place. Do give him a follow. $XBI

[Biotech Investor @learnbiotech]

Investors will often see ORR quoted or displayed for oncology clinical trial results for solid tumors

Here's what the CRs/PRs/SDs mean at a high level

These are assessed on scans

I'm using RECIST v1.1 definitions

#learnbiotechinvesting #biotech #investing #BiotechPrometheus

[Biotech Investor @learnbiotech]

Investors should know WHAT will move a stock and WHEN, especially in biotech with the outsized moves. Build your catalyst calendar ahead of time.

You won't have time to thoughtfully analyze the data when it hits

#learnbiotechinvesting #biotech #investing #BiotechPrometheus

[Biotech Investor @learnbiotech]

Investors should understand the #FDA regulatory process well. Here is a quick summary

At each step investors should ask themselves if the company is developing things in a way that will satisfy the FDA

Until a drug is approved the FDA is the most important decision maker

#BiotechPrometheus

[Biotech Investor @learnbiotech]

Incorporating Probability of Success (PoS) is a unique aspect of #biotech valuation investors must be aware of.

It tries to factor development risk into revenue and cost assumptions.

Here is a table of PoS values:

#learnbiotechinvesting #investing #BiotechPrometheus

[Biotech Investor @learnbiotech]

Investors should look at fully diluted shares outstanding #FDSO when looking at the market cap of a company. Dilutive securities, including options, warrants, converts, etc, can have a meaningful impact on the actual market cap of a company

#learnbiotechinvesting #biotech #investing #BiotechPrometheus

[Biotech Investor @learnbiotech]

A key variable for investors is management reputation

A lot that happens inside a company that is critical for success is outside of public view

Investors must ask themselves if they believe management is giving an accurate assessment, both good & bad

#learnbiotechinvesting #biotech #investing #BiotechPrometheus

[Biotech Investor @learnbiotech]

When thinking about valuing #biotechs, especially those which are not yet profitable, a probability adjusted discounted cash flow model is perhaps the most important methodology

Though it too has drawbacks

#DCF #PoS #learnbiotechinvesting #investing #BiotechPrometheus