Expert Financial Analysis and Reporting

Introduction This is the second of five reports that are intended to give a layman’s overview, first of two technologies that created the biotechnology industry-recombinant DNA and monoclonal antibodies- and three that will importantly shape its future- RNA interference, gene therapy and stem cell therapy. In my last report, I wrote that recombinant DNA technology […]

Cryoport’s stock at the time of the writing of this note has traded down $5.19 or 20% following the announcement that the Company will be issuing a $100 million convertible note with the green shoe potentially adding another $15 million, underwriting discounts could reduce this to $110 million or so. The cash balance at the […]

Introduction As I previewed in Announcing A Strategic Change in Coverage Approach at SmithOnStocks , I am taking a new approach to research commentary that will lead to much broader company coverage but with the tradeoff that the analysis will be more strategic and less focused on detailed analysis of individual companies. Before discussing individual […]

SmithOnStocks Research Approach is Changing I am altering the way I do research and then publish articles on SmithOnStocks. My prior approach was to try to identify small, biopharma companies that are not well covered by Wall Street analysts and as a result might be (usually were) inefficiently priced. I then tried to do intensive […]

Why Kevzara Might Reduce Deaths from COVID-19 Kevzara (sarilumab) was developed by Regeneron and Sanofi as a human monoclonal antibody against the interleukin-6 (IL-6) receptor. It was initially approved for the treatment of rheumatoid arthritis (RA) in the US in May 2017 and the EU in June 2017. IL-6 a powerful pro-inflammatory cytokine that when […]

Reason for This Further Discussion A number of subscribers have pointed out to me that my discussion of the survival tail could have been more clearly explained. Consequently, I have rewritten two sections as shown below that will hopefully be clearer. I have also summarized my analysis as follows: In the CheckMate trials in second […]

Investment Thesis I have seen seven plus months of data on prescription trends for Xyosted as estimated by the prescription auditing service Symphony. My confidence is strong that Xyosted is experiencing a very solid launch and is on its way to becoming a major success. I have developed a model that uses the Symphony data […]

Cryoport will report 2Q, 2019 results on August 8, 2019 at 5:00 PM EST. One area of keen interest for investors will be sales relating to the support of the CAR-T products-Gilead’s Yescarta and Novartis’ Kymriah. Gilead has reported that Yescarta sales in 2Q, 2019 were $120 million which compares to my last published estimate […]

Upfront Caveat When I launched my research on stock manipulation and the prominent role played by illegal naked shorting, I believed that I had a fair understanding of the subject and could knock out comprehensive research in just a few blogs. However, as I dug in I was taken aback at how complex and widespread […]

Investment Overview Selling something you don’t own seems a pretty alien concept to me. I struggle to find any business models for which this is a key strategy. The exception is shorting of stocks and other securities which is a huge business on Wall Street that is carried on by many hedge funds and aided […]