Jan. 10 at 4:43 AM
History suggests it is likely a visible biopharma M&A transaction will be announced Monday morning concurrent with the start of the annual JPM Healthcare Conference.
Specifically, we're really hoping Incyte will announce they are buying
$SNDX Monday morning but any commercial-stage oncology focused bio M&A would be nice. SNDX traded lower today which, by itself, does not suggest a SNDX acquisition is imminent. However, as noted on the attachment, today was not a good day for valuations in this peer group. Hence SNDX traded more or less consistent with its peers
Of the 15 commercial-stage oncology focused bios with market caps ranging from
$500MM to
$1B, 13 traded lower today, even though the
$XBI was up.
We also think
$URGN &
$NUVB are decent candidates for an exit Monday. We are unaware of any commercial-stage bio (oncology or non) announced mid week during JPM, at least going back to FY2017.
$ZYME ?
This is not investment advice.
