J.P. Morgan Healthcare Confab: Preview
01/05/10 - 06:00 AM EST
SAN FRANCISCO (TheStreet) -- The biotech hordes should be in a jollier mood when they land here Monday for the J.P. Morgan Healthcare Conference.
The biotech sector enters the new year at least partially recovered from the thrashing inflicted on stocks that began in the fall of 2008 and didn't end until last March. Since then, stocks prices have rebounded -- not back to their previous highs, but they're getting there. Perhaps more importantly, biotech companies were able to raise a lot of cash in the second half of last year to stave off extinction.
For these reasons alone, the 28th annual J.P. Morgan Healthcare confab should be much less austere than the 27th. Last year, attendance was down and the mood was funereal. Monday, I expect to see bigger crowds in the halls of the Westin St. Francis Hotel -- and more smiles.
Biotech investors don't lack for opportunities to hear company executives pitch their stocks, but that doesn't stop people from flying to San Francisco every January for the J.P. Morgan event. This meeting stands out because investors come in with clean slates and companies use the time to set goals and agendas for the next 12 months.
Big-cap biotech stocks fared poorly in 2009, so investors will be listening for reasons to own the stocks as turnaround plays for 2010. Genzyme's(GENZ Quote) Henri Termeer will be on the hot seat about his company's ability to recover from myriad drug manufacturing problems, and perhaps, about his own future as chief executive.
Once upon a time, Gilead Sciences(GILD Quote) CEO John Martin and his No. 2 John Milligan enjoyed a sterling reputation for flawless execution. No longer. Worries about the long-term growth potential of Gilead's HIV drug franchise have grown, made worse by recent setbacks in the company's efforts to diversify into other disease areas.
For Amgen(AMGN Quote), 2010 is all about the approval and launch of its osteoporosis drug Prolia, as well as expected phase III data in various cancer indications. Amgen also faces the first serious threat to its bedrock anemia drug franchise this year, with Affymax(AFFY Quote) poised to announce phase III study results for its competing anemia drug in chronic kidney disease.
Other story lines to watch next week:
Medivation(MDVN Quote): A boffo performance in 2009 serves as the lead into highly anticipated data expected later this year from the first phase III study of Dimebon, the company's Alzheimer's drug partnered with Pfizer(PFE Quote).
Amylin Pharmaceuticals(AMLN Quote): When -- or will -- U.S. regulators approve the company's long-acting diabetes drug Exenatide LAR?
Mannkind(MNKD Quote): The company presents to investors on Tuesday, just four days before the FDA is supposed to issue an approval decision on its inhaled insulin product.
Allos Therapeutics(ALTH Quote) and AMAG Pharmaceuticals(AMAG Quote): Both companies launched new drugs in 2009 (a lymphoma drug from Allos and a new iron replacement therapy from AMAG), yet their stocks slumped and investors seem concerned about the commercial potential for each.
Arena Pharmaceuticals(ARNA Quote): The company's obesity drug lorcaserin is under review by the FDA. Are the data good enough for approval? And can Arena finally land a Big Pharma partner?
Not every biotech company gets invited to the J.P. Morgan party. The bulge bracket firm has to service its banking clients first, which leaves fewer presentation slots for small, early-stage biotech companies. This has been the unfortunate trend for the last several years.
Thankfully, San Francisco also plays host next week to a couple of what I like to call "hangers on" biotech investor conferences devoted almost exclusively to small-cap stocks.
One of my work-related resolutions for 2010 is to devote more coverage to small-cap stocks, including penny stocks, so I'll be venturing away from the J.P. Morgan confab to hear presentations from GenVec(GNVC Quote), Cytori Therapeutics(CYTX Quote), Adventrx Pharmaceuticals(ANX Quote), ImmunoCellular Therapeutics(IMUC.OB Quote) and Oxygen BioTherapeutics(OXBT.OB Quote), among others.
NicOx n'a certainement pas été invitée par JP Morgan (!) pour y faire de la figuration !...
NicOx sera présent le 14/01/10 à San Francisco
Partagé par Laurent (bcvht) Auj. à 04:47
J.P. Morgan is pleased to announce the 28th Annual Healthcare Conference, January 11-14, 2010 at the Westin St. Francis in San
This event is the premier conference of its kind, bringing together established industry leaders, emerging fast-growth companies, innovative technology creators and globally minded service providers.
This year we expect more than 300 companies, both public and private, to deliver presentations to more than 3,500 investors. The format is 30 minute presentations followed by 30 minute Q&A sessions in a separate room.
To receive an invitation to this event, please contact your J.P. Morgan representative.
Please remember that all J.P. Morgan conferences are by invitation only.
Invitations are non-transferable and attendees must be pre-registered to attend.
The annual JPMorgan Healthcare Conference starts in San Francisco is the first and, by far, the biggest investment conference of the year for the sector. Hundreds of companies and thousands of analysts and investors are there. Plus, the corporate BD or biz dev (that's in-the-know industry shorthand for business development) folks are there in full force sniffing out their next potential partnership or takeout target. Conference veterans will tell you JPM is where a bunch of deals are born.
NicOx interviendra le Jeudi 14 Janvier 2010 (9.00 AM) Salle E