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Expert Financial Analysis and Reporting

Portola: Andexxa Sales in 1Q, 2019 Were Encouraging and Yet the Stock HasTraded Down (PTLA, Buy, $30.16)

Overview of 1Q, 2019 Results

I was shocked to see Portola trading down about  $5.00 in following the release of 1Q,…
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Ondexxya Receives Conditional EU Approval as Expected (PTLA, Buy, $36.44)

Portola Pharmaceuticals announced last Friday that the European Commission granted conditional Marketing Authorization for Ondexxya (andexanet alfa). In the US,…
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Portola: Detailed Update on Exciting 2019 Outlook (PTLA, Buy, $33.35)

Key
Conclusion

The outlook for Portola’s stock price in 2019 and 2020
will almost certainly driven by the sales progress of Andexxa. At…
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Portola: NEJM Report on Positive Results in ANNEXA-4 Study is a Significant Positive (PTLA, Buy, $28.89)

Overview

This report focuses narrowly on the New
England Journal of Medicine article. If you would like a more thorough
discussion on the…
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Portola: Tidbits from Presentation at JP Morgan Healthcare Conference (PTLA, Buy, $21.96)

Investment Thesis in
Brief

Andexxa is the only approved product for treating severe bleeds (sometimes
life threatening) caused by the Factor Xa inhibitors,…
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Portola: Approval of Gen 2 Manufacturing Process for AndexXa is a Significant Positive (PTLA, Buy, $18.75)

Portola received approval for the Prior Approval Supplement
(PAS) for the Gen 2 manufacturing process for AndexXa on the PDUFA date…
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Portola Pharmaceuticals: 2019 Is All About the Sales Trajectory of AndexXa (PTLA, $15.46, Buy)

Investment
Overview

With the disappointing launch of Bevyexxa, almost all of the market value of Portola is based on AndexXa which was…
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Portola: Critical Upcoming Catalysts Have the Potential to Cause a Sharp Upward Move in the Stock (PTLA,  Buy, $29.19)

Investor focus is totally on Andexxa at this point in time as the disappointing 2Q, 2018 sales results for Bevyxxa…
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Portola: Reiteration of Buy Recommendation (PTLA, Buy, S27.46)

Introduction

This is the latest in a series of updates on Portola and is prompted by information presented in the second…
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Portola: Update and Reiteration of Buy Recommendation (PTLA, Buy, $39.31)

Investment Thesis in Brief

This report is based on presentations by management at recent brokerage conferences. It is an update and…
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Portola: Approval of AndexXa is a Major Positive (PTLA, Buy, $41.19)

Investment Opinion

Based on assumptions made in this report, I estimate that AndexXa could be valued by investors at $114 to…
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Portola: Why I Think that AndexXa is Likely to be Approved (PTLA, Buy, $36.44)

Key Observations and Conclusions

I believe there is a very strong possibility that AndexXa will be approved on its PDUFA…
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Portola: Uncertainty on AndexXa Approval Leads to 30% Decline in Stock Price (PTLA, Buy, $31.16)

Major New Uncertainty for AndexXa

The fourth quarter conference call produced alarming information about the FDA review of AndexXa. This drug…
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Portola Announces a Delay in PDUFA Date for AndexXa (PTLA, Buy, $54.86)

Portola announced after the close on December 22, 2017 that the FDA will extend its review of AndexXa (andexanet alfa)…
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Portola: US Launch of Bevyexxa Is Scheduled for Early January 2018 (PTLA, Buy, $50.03)

Portola Pharmaceuticals announced today that the FDA has given the go-ahead for the commercial launch of Bevyxxa (betrixaban). This drug…
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Portola: Management Guides to a Highly Probable US Launch of Bevyexxa in the December to February Timeframe (PTLA, Buy, $50.52)

Perspective on Stock Price Behavior

I began coverage of Portola with a Buy in a May 4, 2017 report at…
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Portola: Reiterating Buy and Refuting Recent Negative Blog by Adam F-stein (PTLA, Buy, $54.12)

Introduction

Adam F-stein wrote an article on Portola on September 19, 2017 with the headline “Commercial launch of Portola’s new blood…
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Portola: September 4 Conference Call Provides Update on Potential Launch Date for Bevyxxa and Announces Price (PTLA, Buy, $57.29)

Investment Overview

Following approval of Bevyxxa, Portola stated that it expected to launch in the US in the September to November…
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Portola Pharmaceuticals: AndexXa BLA Resubmitted; Reiterating Buy (PTLA, $61.41, Buy)

Investment Thesis

Portola issued a press release on August 3, 2017 that reported it had just resubmitted the BLA for AndexXa,…
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Portola Pharmaceuticals:  Betrixaban Approval Triggers Big Stock Move-Now What Do We Do? (PTLA, Buy, $55.42)

Investment Thesis

There was considerable uncertainty as to whether the FDA would approve betrixaban so that the approval caused a sharp…
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Portola: Reiterating Buy Prior to June 24th PDUFA Date for Betrixaban (PTLA, Buy, $39.35)

Portola has two drugs in late stage development that I believe are likely to be approved in 2017 or early…
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Portola Pharmaceuticals: Initiating Coverage with a Buy (PTLA, $40.05)

 Overview of Report
I am initiating coverage of Portola Pharmaceuticals with a Buy and a 2021 price target of $426.This is…
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