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Shane Skinner has invested in biotech companies for almost 20 years and placed over $2.6 million in biotech stock trades in 2013. He has held various financial leadership positions over the past 17 years throughout the United States and Europe including Chief Financial Officer. Shane graduated... More
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  • Trade Updates - Rigel Pharma, KaloBios Pharma 0 comments
    Mar 17, 2014 2:47 PM | about stocks: KBIO, RIGL

    The Nasdaq Bio Index is up a solid 1.48% to start off the week. Oxigene is off to a strong start, up over 7% thus far for the day. I added two new positions to my portfolio late last week.

    I purchased 3,000 shares of KaloBios (NASDAQ:KBIO) at $3.09. The company is expected phase 2 results in the 4th quarter for cystic fibrosis patients with chronic PA lung colonization. They also expect phase 2 results on their trials in AML and MDS (Leukemia) in the 2nd quarter of 2015. They have two solid partnerships with Sanofi and Novartis as well as $76 million in cash (end of Q4) which makes me feel better about investing in a company with a small market cap of $101 million. They are a long ways away from getting a product to market but at $101 million and for the reasons mentioned above, they seem to be a great value.

     

    KBIO

     

    3.07

       

    4,000

    $3.0884

    -$83.59

    -0.68%

    $12,280.00

    I purchased 3,000 shares of Rigel (NASDAQ:RIGL) at $3.98 and to my surprise the stock jumped up over 13% by the end of the week so it's currently trading at $4.50. They have phase 2 results in dry eye expected in the 2nd half of the year and they are also initiated a phase 3 study of their drug to treat ITP, an autoimmune disease that affects approximately 60,000 people in the United States. They have a very strong cash position of $212 million as of the end of the year and partnerships with AstraZenenca, BerGenBio, and Daiichi Sankyo.

     

    RIGL

     

    4.58

       

    3,000

    $3.9792

    $1,792.41

    15.00%

    $13,740.00

    Disclosure: I am long KBIO, RIGL.

    Themes: Biotech Stocks: KBIO, RIGL
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