John McCamant

The launch of Madrigal Pharmaceuticals Inc.’s (MDGL) NASH drug Rezdiffra exceeded all expectations in the recent quarterly earnings release. The stock rose more than 50% in a few days – and the company now has a market cap of close to $8 billion. Madrigal has been a long-time top pick, highlights John McCamant, editor of Medical Technology Stock Letter.

The long awaited and overdue half-point cut in the federal funds rate was the impetus for the SPDR Biotech ETF (XBI) to finally break above the 102-103 level after three or four attempts. Meanwhile, Bicycle Therapeutics Plc (BCYC) had a strong ESMO following promising new data for BT8009, BT5528, and BT7480, explains John McCamant, editor of The Medical Technology Stock Letter.

The long-awaited and overdue market rotation into biotech began last week, as the mega-tech trillion-dollar valuations finally receded. With bios languishing for the majority of the year, it didn’t take much to move our group and cause a breakout of the SPDR S&P Biotech ETF (XBI), observes John McCamant, editor of The Medical Technology Stock Letter.

Incyte Corp. (INCY) announced that it has entered into a definitive agreement to acquire Escient Pharmaceuticals (a private company) for $750 million. The company’s key drug development candidates include EP262, a first in-class, potent, highly selective, once-daily small molecule antagonist of Mas-related G protein-coupled receptor X2 (MRGPRX2) and EP547, a first-in-class oral MRGPRX4 antagonist, writes John McCamant, editor of The Medical Technology Stock Letter.

With hundreds of biotech companies to invest in, stock selection is paramount. In this session John will highlight past biotech winners to help frame current biotech recommendations.