2009: Biotech’s Stealth Small Cap Rally

On the heels of the Dow Jones Industrial Average (DJIA) logging its worst annual performance since 1931 and the NASDAQ Composite (COMP) having its worst year since inception in 1971, it may have seemed counter intuitive to provide a bullish outlook for the biotechnology industry in 2009.  Nonetheless, at the start of the year we [...]

Letter from the Editors – Oct 12, 2009

Our prior e-newsletter coincided with Independence Day and it’s hard to believe that Halloween is now just around the corner.  Soon it will be time for popular Halloween activities, such as trick-or-treating, wearing disguises, playing pranks, and telling scary tales.  Of course, all of this may sound more like an average day in Washington, DC.
On that [...]

Three Recent Biotechnology Activist Wins by Carl Icahn

Although a controversial topic, activist hedge funds and private equity firms typically use a small equity stake in an underperforming company to put public pressure on its management and board of directors with the goal of increasing stakeholder value through cost cutting, changes in corporate strategy or management, capital restructuring, asset divestiture and other tactics.  [...]