Terry Smith

@silvertrade I hate to even comment on such a serious thing because only the safety of people matters, but FWIW I asked Teva’s CEO about their operations in Israel earlier this month and he said Israel is less than 8% of their manufacturing. biotechtv.com/post/teva-marc…

@AppleHelix here is the study they had to do to get the DPI approved. clinicaltrials.gov/study/NCT03950…

3/ The 10-K did not mention any ongoing trials in PAH and PH-ILD. At least you would mention a bridging bioequivalence study agreed to by the FDA. ir.unither.com/~/media/Files/…

1/ Hmm, my gut tells me BS on $UTHR launching a completely different inhaler by 2027. First of all, where is the clinical trial? I can't find it on clintrials or on the website. Am I missing anything? unither.com/research-and-m…

@RNAiAnalyst but OTC in the US is cash pay out of pocket--generally not covered by insurance as the system exists right now.

OTC could make drugs like visceral fat-burning inhibinE jabs go viral almost instantly. $wve $arwr

@InsideHershey I think there is another Freshido two miles down the road!

The former Duke's on East Chocolate Ave will open as Freshido Bar + Kitchen by the end of 2026, according to Freshido.

@given2tweet I agree it's coming down to if they get priority review or not. Bodes well that they have fast track designation.

@given2tweet "imminently certainly" sounds like there is some wiggle room in their guidance. probably good for the inhibrx cvr. probably learn a lot more on their next call.

@Sanctuary_Bio Critical takes on Twitter, like bearish sell side notes tend to be the most thought provoking.

But it's neat that that was what resonated with people. The nicest thing someone said to me when I was at Brad's meetup and met a young associate from Deerfield. We talked about high level public equity, exchanged contact info, Twitter, and he was like

Few random musings from my interactions at JPM More than one person, when we finally met in person, said they enjoyed my skeptical takes on Twitter. Which I found genuinely surprising as I am long-biased and I think that is reflected in my posts

@sharkbiotech remember someone used to call FDA and how the FDA person answered the question would dictate if it was a CRL or not?

@avidresearch The VIPES trial worked in ages 6-11 and didn't work in adolescents and adults > age 12. For people age 12+ it was applied to the upper inner arm in an attempt to increase penetration and provide more consistent exposure. PEPITES did ages 4-11 and they narrowed VITESSE to 4-7

@avidresearch I think the complexity of adult skin resulted in a lot of variability of absorption.

$DBVT should make skin patch’s for tree allergens. They will make billions. A quarter of my friends and family have these allergies.

@avidresearch I think there was also a skin penetration issue as adult skin is thicker/oilier/hairier.

@TerryMSmith My view is that they were under dosing the older kids (8-11). They used same patch for 4-11. Think it’s the dose and not the tech.

@adamfeuerstein Maybe they are doing the biotech showcase conference to stick it to JPM.

$ABVX raised $700M in July and didn’t use JP Morgan. If you’re searching for a likely reason ABVX Is not presenting at JPM26, see above.

@BioWino This would be mostly (if not exclusively) long-onlies I believe.

@TerryMSmith Anything to do with the 77mm shares short of $xbi?

Excellent report from Furey research partners. Small cap managers are getting crushed by the outperformance in biotech where they seem to be chronically under-exposed.

@AaronRosenblum5 @given2tweet I should have said short term loss on whatever I paid over cash payout.

@AaronRosenblum5 @given2tweet fidelity gives me a short term loss of whatever I paid over the cost basis and no cost basis on the CVR. Never had one pay out so I don't know how that part is handled!

@jq1234t @BioBoyScout I thought that was because ASO takes longer to reach steady state knockdown than RNAi. This is two RNAi drugs. I don’t see how the longer dosing intervals makes it take longer, let alone 4-5 years.

Big structural edge for $ARWR vs $WVE on INHBE. If ARO-INHBE is dosed quarterly, Arrowhead can move through Ph2–3 ~42–60+ months faster than Wave’s 1–2x/yr WVE-007. Same biology. Very different clocks. Safer dosing and Incredibly MASSIVE competitive edge for $ARWR.

@BioBoyScout I don’t understand why you think dosing more frequently makes the path to market faster. I guess we agree to disagree here.

@TerryMSmith More doses = more data points per patient. That means endpoints & stats accumulate faster, interim analyses happen sooner → Phase 3 readouts can land years earlier. It’s speed, not necessarily “better drug.” Research it, or just ask $WVE or $ARWR.