Expert Financial Analysis and Reporting

Report Summary In this report, I go through a detailed sales, earnings and cash flow projections for the period 2013 through 2019. I am projecting that sales of the core bioprocessing business will grow at 13% per annum in the 2013 to 2016 timeframe. The EPS picture is complicated because the expiration of the royalty […]

Introduction This report is an update on my thinking on Cytokinetics. It should be read in conjunction with earlier reports, especially my initiation report of March 15, Cytokinetics: Critical Phase IIB Data is Upcoming in 2013 for Omecamtiv Mecarbil and Tirasemtiv (CYTK, $6.30). In that report, I first recommended purchase and I continue to do […]

Implications for Trius Shareholders Cubist Pharmaceuticals (CBST) and Trius Therapeutics, Inc. (TSRX) announced that they have signed a definitive agreement under which Cubist will acquire all outstanding shares of Trius for $13.50 per share in cash. In addition, Trius shareholders will receive a Contingent Value Right that entitles Trius shareholders to receive up to $2.00 […]

Key Value Drivers for Agenus Through 2015 I am initiating coverage of Agenus with a Buy. This basic report goes into detail on its two core technology platforms: (1) the heat shock protein technology that is the basis of therapeutic and preventive vaccines for cancer and infectious disease, and (2) the QS-21 Stimulon adjuvant that […]

Investment Perspective on Iluvien The investment outlooks for pSivida (PSDV) and Alimera (ALIM) in 2013 will be driven by issues related to Iluvien, an ophthalmic implant which has been developed for the treatment of diabetic macular edema. Diabetes can lead to chronically elevated levels of blood sugar that can cause structural damage to the inner […]

Intermezzo was launched by Transcept’s marketing partner Purdue in April 2012. I believed then and now that it is a highly effective product and fills a unique niche for middle of the night insomnia. Sales in 2012 were disappointing, but Purdue stepped up in major way to relaunch the product late last year with a […]

Investment Thesis This report is an update based on a number of recent events. I discuss encouraging long term survival results for DC Vax-L that is unprecedented in glioblastoma multiforme. I also go over the phase III trial progress for DC Vax-L and the compassionate use program that will proceed abreast of the phase III […]

Investment Opinion and Thesis I am continuing to recommend purchase of Neuralstem. The Company has completed its first trial in humans, a 15 patient phase I trial in amyotrophic lateral sclerosis or ALS. Results of this trial have indicated that the surgical procedure used to implant the cells and the cells themselves are safe, which […]

Investment Overview Repligen (RGEN) has gone through a metamorphosis that has dramatically changed its business model and investment outlook. For many years, its primary focus was on high risk drug development, but it was also building a high quality bioprocessing business that provides consumable products used in the manufacturing of biological products. The acquisition of […]

Investment Thesis It is my hypothesis that dendritic cell cancer vaccines have the promise to be a major advance in cancer therapy. In October of 2011, Dr. Ralph Steinman was posthumously awarded one-half of the Nobel Prize in Physiology or Medicine for his discoveries of the dendritic cell and its role in adaptive immunity. His […]