John McCamant

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.

In a widely anticipated clinical trial in the blockbuster GLP class, Viking Therapeutics (VKTX) released excellent Phase I data for Oral ‘2735 at 28 days in obese patients, observes John McCamant, editor of The Medical Technology Stock Letter.

Viking Therapeutics (VKTX) shares recently soared when it released excellent Phase 2 SubQ data for VK2735 (GLP-1/GIP) showing treated patients lost up to 14.7% of their body weight over 13 weeks, in a clean, dose-dependent manner with high statistical significance (p<0.0001). The primary endpoint win is a 13.1 percentage point reduction in weight than the placebo group, explains 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.