$REPL let it be known for all time, Asha Das director of the FDA biologics center’s office of clinical evaluation is a smart person, and absolutely made the right choice overruling myopic pencil pushers Katherine Barnett and Sundeep Agrawal to approve RP1
Subgroup analyses are often crap in biotech, but sometimes they aren’t. Seems like $ALMS SLE subgroup is legit here, and anyone doing some research on IFNGS-high will find it pretty interesting. Don’t think knee jerk sell on the data was right here
$ALMS It seems like if BMY's sotyktu fails in their broad SLE trials, then thats a benefit for Alumis next gen tyk2 because it clears out a competitor. If sotyktu succeeds broadly, there is still a good chance Alumis outperforms in the large IFNGS-high SLE population. win-win?
$OMER is also very under-owned by biotech specialist funds - its not a hedge fund hotel by any means. Seems like such funds will want to establish a position given the excellent launch so far - bullish tailwinds
$OMER I haven't seen too many newly commercial biotechs have a strong launch and simulteanously do share buybacks - seems like management can see the launch fundamentals internally and decided they are undervalued here - pretty bullish...
The market often likes to go toward max pain - given the large number of $CAPR shorts and wide spread pessimism about deramiocel, but new evidence of FDA flexbility, max pain is up I think, at least to $10+
