Thread by @Biotech2k1

1/ Bargain Hunting in #iPSC:

These are the companies that rank in my top picks for people to use as a jumping off point to do their own research.

2/ My top pick here would be $FATE. They have been the leader in this space for years. They have strong management and strong science. They are the only company to have early phase 1 data so far.

3/ The data has been very encouraging, but it still needs to fully develop to know where it will fit into the treatment landscape. They have multiple programs across blood cancers and now moving into solid tumors.

4/ They have good data in NK cells and expanding into CAR-T cells. Now that the company is down around 70% from its peak, it is finally a bargain down here. They have over $800 million cash with only a $3 billion market cap.

5/ My second pick is $SANA. They are further behind from $FATE, but I think their potential is massive. They have 2 platforms around Fusogen delivery and iPSC cells. They are focused on in-vivo CAR-T editing to start.

6/ They have cell therapy program using hypoimmune cells that go way beyond oncology and into some very massive indications. They are working on islet cells from treatment of diabetes. They are also working on CNS, heart and liver cells.

7/ They have great management and a very broad iPSC platform that will reach many tissues. The stock has been absolutely crushed now that the bubble has popped.

8/ Its an absolutely steal down here with over $800 million in cash and only $1.15 billion market cap. It is a high risk play as it is still about 2 years from any human trials.

9/ My 3rd pick is $IPSC. They have a very strong science program around CAR-NK cells and Delta/Gamma CAR-T cells. This has a lot of potential, but I don't know how strong the management is. I haven't seen them present a lot.

10/ The few times I did see them present, I didn't get a strong feeling about them. I will take time to know if this management is a very good one or not. They are just advancing their first program into trials this year.

11/ All of their programs have alloevasion which makes them the leader in developing truly off the shelf cells. They will be the first company to do clinical trials with NK cells that should evade immune detection.

12/ My final pick is $CRBU as they are the furthest behind on anything that looks like iPSC. They have multiple programs for editing CAR-T cells, but they are not iPSC. Their first NK cell program is still in early stages of development.

13/ I have followed their management for years, and they seem strong. Not sure how well they will adapt to being a public company. Their pipeline seems a bit small for what they could be doing with CRISPR technology.

14/ My biggest fear for $CRBU is they seem to lack the ambition necessary now that they are public. I would think there is so much more they could be doing with their technology.

15/ All these companies have been crushed by this market crash in biotech. They are all crazy cheap. Some of them are just higher risk then the others for the value.