EPOCH 33: BIOTECH MARKET RESEARCH ($BBIO)

BridgeBio

This week we are featuring BridgeBio.  As previously noted the company had an interim Ph3 readout for their ATTR-CM program - acoramidis.  When we published our alert on the interim data the stock was trading around $15.80.  Today, it has almost doubled up to $28.72.  It’s safe to say this Phase III data is material, however the upside is priced in?  How bad can the downside be?   Due by the end of August is the full data readout.  Options pricing projects a +/- 10% move, so there should be volatility to play.

For those of you subscribed - we refer you back to our July write-up on the interim acoramidis data: EPOCH 27: BIOTECH MARKET RESEARCH ($BBIO). 

Every Monday we are out with public biotech research, profiling biotech companies with near term catalysts. This will focus primarily on the major market moving biotech events such as data readouts from the major scientific conferences as well as potential regulatory approvals.

We will not offer specific trading advice (and we do not hold any publicly traded biotech equity), but rather flag emerging events that will likely materially drive stock prices (sometimes +/-100% in either direction).

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HOW TO PLAY BIOTECH APPROVAL/DATA READOUTS ANNOUNCEMENTS

While biotech equities will move on news of announcement, often if there is high conviction in a positive read, a large run up ahead of the news will occur and the actual event turns into a sell the news event. Sometimes, investors wait for the actual event to make a long/short decision. And obviously if the news is disappointing (more often than not) the stock will tank.

This is not financial advice so you will have to make your own call on how to best play these events.

ALERT: BridgeBio ($BBIO)  AATR-CM Ph3 data from acoramidis

DATE: August 27, 2023

IMPLIED VOLATILITY: +/- 10%

BACKGROUND: