Updated on 8/10/20
- Click here to read Sultan’s new article on BCRX
- Click here to read Chris Stand, PharmD’s new article on Rapt Therapeutics (RAPT)
- Click here to read Sultan’s LJPC update
- Click here to read Chris Stang, PharmD’s new article on Verastem (VSTM)
- Click here to read Chis Stang, PharmD’s new article giving an overview of Corbus Pharmaceuticals (CRBP), and the upcoming investor call.
- Click here to read Chris Stang, PharmD’s new article on BCRX
- Click here for Sultan’s update on DelMar Pharmaceuticals (Nasdaq: DMPI). Another update is coming soon following recent news of the company’s plans for a pivotal Phase 2/3 study!
PT= Price target (our approximate target exit price)
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|Market Performance 8/10/20|
For a list of reports and economic metrics set to release this week, click here.
|Futures as of 7:05 pm PT on 8/10/20|
|DOW Jones 30||+0.29%|
Click here for trade updates on past tickers, not on tonight’s email
Day swing/day trade candidates for 8/11/20
1) GNPX $3.81
- Bullish engulfing pattern today, which has proven to be a strong indicator in recent trading sessions
- Received fast track designation this year
- $23m cash as per the vastest 10Q with an estimated 10Q coming up around 9/2/20
- University of Pittsburg recently received an NIH grant of $2.59m to fund research of diabetes gene therapy licensed by GNPX
- Recently joined the Russel 3000 index
- PT = $4.20-5+
2) VKTX $7.69
- Updated phase 2 data at EASL at the end of month
- $263m cash as per their latest 10q which appears sufficient to fund operations with the current burn rate
- IND filed for VK0214 in X-ALD with phase 1 anticipated to begin in Q3 of 2020
- Technicals appear to be heating up for a bullish push into the upcoming data at EASL
- PT = $8.50-9+
3) ACST $0.79
- Has Trilogoy 2 data due on our about Aug. 31
- Recently submitted a statistical analysis plan to the FDA and reported they anticipate being on track to report upcoming data on Aug. 31
- Cash and equivalents of $14.2m as per their latest 10K
- Technicals appear to support a run up in anticipation of the upcoming material event
- PT = $1+
4) RIGL $2.60
- Found entry via sms today, thesis remains intact
- Commercial-stage pharma company located in South San Francisco (an area known for having quality pharma companies). RIGL’s lead product TAVALISSE is approved as a treatment for chronic immune thrombocytopenia (ITP).
- TAVALISSE is in Phase 3 of development for 2 additional diseases and is under regulatory review for approval in Canada
- RIGL out-licensed one of its assets (bemcentinib) to BerGenBio in 2011 to develop as a treatment for aggressive types of cancer.
- In addition to these products, RIGL is developing a number of other clinical-stage assets in partnership with other pharma companies, including big names like AstraZeneca (AZN)
- On 7/14 RIGL announced an investigator-sponsored studyinvestigating the efficacy of TAVALISSE as a treatment for COVID-19 Pneumonia. RIGL and Novartis are supporting this study.
- The share price soared over 100% on this news from $2.16 to a high of $5.24 and ultimately closing at $4.13. Moreover, the move was 258.5M in volume during the trading session.
- Since 7/14 the stock as settled in the mid $2 range on barely any volume relative to on 7/14 signifying that money that flowed in is still there.
- It should be noted that TAVALISSE is the only FDA approved drug that reduces the expression of the MUC2 protein which is associated with pulmonary complications in COVID-19.
- The stock price is sitting at a strong support level and formed a bullish engulfing candle on the daily chart on Friday.
- Additionally, RIGL reported strong 2Q20 earnings with ample YoY total quarterly revenue growth ($16M vs. $10M) driven by increased revenue from the company’s collaboration agreement with Griffols and Kissei.
- RIGL is in a strong financial position with over $70M in revenue in the 2nd quarter and $93M in cash.
- Has a solid institutional investor base with BlackRock owning 10% after increasing their stake 17% last quarter
- Anticipating further upside driven by COVID-19 study updates and or from one of the company’s active clinical studies
- PT= $3-4+
5) THMO $6.40
- Found entry today via SMS, thesis remains intact
- Commercial-stage medical technology company with cell-based products
- In March THMO alerted the FDA of its intent to ship its rapid COVID-19 antibody test. The company was notified on 4/15 that its COVID testing kit had been appropriately validated for distribution. Thus, in May THMO commenced commercial shipments.
- On 6/23 THMO’s X-SERIES cell processing products had begun to be distributed by Corning Life Sciences
- THMO is further working with ImmunoCyte on its COVID-19 program
- The company is reporting 2Q20 earnings and business updates on Tuesday 8/12 at 4:30 pm EST. This should make for a nice pump on Monday and Tuesday and thus presenting a trading opportunity. Holding though earnings would be risky.
- PT= $7-8 (by end of day on Tuesday)
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Returns we aim for are in the mid-single-digit to the double-digit range. Price targets (PT) are short-term in nature (i.e. a few days to a few weeks). Price targets are estimates.
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