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Biotech2k

4 Oct, 9 tweets, 2 min read

Profiling $CRBU:

This is a new IPO and they are still within the lock up period until late January. I have followed them as a private company at the ARM conferences as part of my overall CRISPR research for years.

1/ I can safely say I feel this is a good management team at this early stage of the game. They are the original CRISPR company holding all the original patents. They also pioneered new technology with chRDNA.

2/ I classify them as cell therapies because that is where their focus is. They have 3 allogeneic CAR-T programs in development while building an iPSC manufacturing for iNK and iT cells.

3/ Their lead drug is CB010 which is a classic CD19 CAR-T with the CAR inserted into the TRAC locus. They also knock out the PD-1 for better responses. CB011 is an allogeneic CAR-T with the BCMA CAR inserted into the TRAC locus. It also had the MHC I replaced with HLA-E.

4/ These are some pretty good edits for cell therapies in the Lymphoma and Multiple Myeloma space. I think they could be worth $1 billion in potential if they work out as well as other CAR-T drugs.

5/ CB012 is a CD371 CAR-T for treatment of AML. I think AML is a very competitive and challenging space for cell therapies so I would guess no more then $250 million in additional potential.

6/ CB020 is their first iPSC NK cell. It doesn't even have a selected target yet. This is where I think $CRBU can still compete and emerge an industry leader with companies like $FATE and $SANA. They own the editing technology and they just need to develop the iPSC tech.

7/ I think $CRBU is reasonably valued for its stage of development at $1 billion to $1.5 billion valuation or $20 to $25 per share. That makes it a cheap CRISPR company in the middle of a massive CRISPR bubble. Its even cheap as a cell therapy company compared to $SANA or $FATE.

8/ They just started phase 1 so it could be a while before we see any data. Everything comes down to data. So far, most of the CAR-T companies are putting up the exact same data in all the exact same indications. I am waiting for someone to stand out.

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More from @Biotech2k1

Biotech2k

@Biotech2k1

5 Oct

My game plan updated:

I am still into the buy the dips and sell every rip. I think the collapse in the bubbles in the biotech space are just getting started.

Pathways:

$BPMC 3.36% core position
$TPTX 3.36% core position
$RVMD 2.02% expendable into any big rally
$ERAS 1.34% expendable into any big rally
$RLAY 2.02% expendable into any big rally

Synthetic Lethality:

$MRTX 3.36% core position
$SDGR 2.02% working to pay off core position
$RPTX 2.69% working to pay off core position

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Biotech2k

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4 Oct

Profiling $CABA:

I have been in this company for about 8 months now. I think the management is good, but way too early to tell. They are my small cap high risk play.

1/ They are using CAAR-T to target autoimmune disorders. They use a CAAR receptor that encodes a self antigen that drives auto immune disease. The concept is the self reactive B cells should target binding to the CAAR receptor and the T cell would kill them.

2/ Based on the really low level of memory B cells in the body, it could be very difficult to clear them out. Its a high risk play, but if it works, it could be a huge opportunity.

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Biotech2k

@Biotech2k1

4 Oct

Profiling $TIL:

This is a newer company that just went off its lock up period. I don't know the management that well, but it can't be any worse than the disastrous $IOVA. That company is completely broken.

1/ They are working on Tumor Infiltrating Lymphocytes (TIL). This is the most successful use of TCR therapies in solid tumors. This starts with removing a met or doing a biopsy of the tumor. It takes that tumor and breaks it down to get all the antigens for that specific patient.

2/ Those tumor antigens are introduced to the patient's own T cells in the lab to activate them toward those antigens. Those T cells are then put back into the patient with PD1 to target and kill all tumor cells and mets.

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Biotech2k

@Biotech2k1

3 Oct

Profiling $IPSC:

This is a newer company that recently IPO'd. They are still in the lock up period until mid December. I don't know anything about their management yet. They are working on iPSC cell manufacturing using CRISPR MAD7 editing.

1/ The MAD7 resembles the Cfp1 CAS enzyme. They are focused on developing 2 NK cell programs as their lead programs. They have CNTY-101 which is a standard CD19 and they have CNTY-103 which has CD133.

2/ They are targeting GBM with CNTY-103 which makes this a completely unique program compared to what some other companies are doing. They have some other early CAR-NK and CAR-T programs in development using iPSC.

Read 9 tweets

Biotech2k

@Biotech2k1

3 Oct

Profiling $SANA:

I have only been in $SANA for about 6 months, but I really like their 2 franchises. I also like their management team, although, I don't know them that well.

1/ Their first franchise is the Fusogen programs. This is all about delivering any genetic payload to cells. Their fusogen platform uses virus like particles. If we treated this as a stand alone biotech, I would value it around $1 billion to $1.5 billion.

2/ Their second platform is working to build iPSC manufacturing around hypoimmune cells. This will be right along the lines of what $FATE has built. I would also value this platform around $1 billion to $1.5 billion.

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Biotech2k

@Biotech2k1

3 Oct

Profiling $FATE:

I have been in and out of $FATE for over 3 years now. I first bought it back in 2018. I kept the company all the way up till $100 where it just seemed to expensive sold I sold it and waited. I recently started buying a little back.

1/ They are the pioneer of the iPSC platform. I remember when they started with allogenic NK cells which since then they dropped. They also had ProTmune which was a stem cell product for transplants. They also discontinued that program.

2/ If we are really counting the track record, they had a lot of wrong answers until they had a right one. What they learned from engineering stem cells and NK cells led to the programs they have today.

Read 11 tweets

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