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January 2005
(v05-n01) |
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- Main Story
- pgs. 1-11 Structural market changes affect biotech sector
- Macro Market Commentary
- pgs. 12-16
- Biotech Monthly Coverage Update
- pg. 17-29
- NIBM Model Portfolio
- pg. 30
- (Full outline below...)
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This month's Biotech Monthly investigates
the effect market-neutral hedge funds are having on investors in
development-stage biotechnology companies. The rise of these specialized
funds has altered the risk/reward profiles for investing in biotech, and
investors interested in this sector must account for these changes or
face mounting portfolio losses. We describe how market-neutral funds
work, their effect on the biotech sector, and how different classes of
investors need to alter their behavior to succeed in this new
environment. |
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| These funds have changed the
rules for investing in biotech. If you have an interest in the biotech
sector, you need to understand these changes. |
Subscriber direct access |
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| The following is an outline of this issue of
the NIBM Newsletter. |
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- Main Story - Structural market
changes affect biotech sector
- Introduction
- The rise
of market neutral funds
- How do they do that?
- Matching beta
- Pairing betas
- Picking sides
- Manufacturing returns
- Manipulation?
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Biotech's role
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Investing in biotech
- Alteration of risk and reward
- Bad news
- Good news
- Charts: Comparison of gains
after good news: Old vs. New
- Death of the short squeeze
- Investor realignment
- Short-term investor
- Situational investor
- Long-term investor
- Trader
- Short sellers
- Final
thoughts
- Macro Market Commentary - "Potpourri
Commentary"
Biotech Monthly Coverage Updates
- ID Biomedical
- Stock-specific events
- Investment case
- Sonus Pharma
- Abraxane impact
- Phase III trial
- FDA filing
- Partnership
- Investment case
- Onyx
- Medarex
- Dendreon
- Recap
- Why'd they open the 9902a data?
- What's next for the 9902a data?
- Four swings at the plate
- Graphic: Provenge approval flow
chart/timeline
- FDA
- Progression and survival
- Partnership
- 9901 Provenge data & other
presentations
- Investment case
- Corcept
- Study 07
- Study 06
- Study 09
- Investment case
- Discovery Labs
- Forbes Medi-Tech
- Indevus
- Introgen
- Nabi
- Pharmos
- Seattle Genetics
- Investment case
- Targeted Genetics
- Investment case
- Valentis
- ZymoGenetics
NIBM Model Portfolio Performance |
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