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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>FDA Commissioner Martin Makary injected some regulatory optimism with his first public comments, advocating for accelerated drug approval pathways.</li><li>While biopharma headlines were a roller coaster, investors appeared ready to grasp any positive news, despite more signs of FDA dysfunction.</li><li>In an E&amp;Y report reviewed by Reuters, 25% pharma tariffs would increase drug costs by $51 billion, leading to either 12.9% higher prices or reductions in R&amp;D efforts and workforce. </li></ul>

FDA Commissioner Martin Makary injected some regulatory optimism with his first public comments, advocating for accelerated drug approval pathways.While biopharma headlines were a roller coaster, investors appeared ready to grasp any positive news, despite more signs of FDA dysfunction.In an E&amp;Y report reviewed by Reuters, 25% pharma tariffs would increase drug costs by $51 billion, leading to either 12.9% higher prices or reductions in R&amp;D efforts and workforce. 

Biopharma Week in Review: Makary Sparked FDA Optimism; Growing Pushback on HHS Changes

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, election headlines and earnings dominated the news cycle.</li><li>The Trump win could be positive for biopharma if <span style="font-size: var(--content-font-size);">RFK Jr.’s influence can be held in check. </span></li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, election headlines and earnings dominated the news cycle.The Trump win could be positive for biopharma if RFK Jr.’s influence can be held in check. 

Biopharma Week in Review - November 11, 2024

<ul>
<li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li>
<li>Last week, BMY received landmark antipsychotic approval, while BHVN finally scored a win in rare genetic SCA.</li>
<li>AMGN had approvable data in atopic dermatitis and gMG, but not enough to dethrone REGN and ARGX. </li>
</ul>


We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.
Last week, BMY received landmark antipsychotic approval, while BHVN finally scored a win in rare genetic SCA.
AMGN had approvable data in atopic dermatitis and gMG, but not enough to dethrone REGN and ARGX. 


Biopharma Week in Review - September 30, 2024

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week started a busy season of medical and healthcare conferences, with obesity and cancer as major themes. SMMT led with Keytruda-beating (MRK) data in lung cancer, lifting TIL and BNTX with similar drugs.</li><li>NVO boosted amylin class of obesity drugs with positive early data, including ZLDPF, GPCR, and VKTX. </li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week started a busy season of medical and healthcare conferences, with obesity and cancer as major themes. SMMT led with Keytruda-beating (MRK) data in lung cancer, lifting TIL and BNTX with similar drugs.NVO boosted amylin class of obesity drugs with positive early data, including ZLDPF, GPCR, and VKTX. 

Biopharma Week in Review - September 16, 2024

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Eli Lilly and Company (LLY) received FDA approval for donanemab (Kisunla) in early Alzheimer’s, which was largely expected following unanimous support from the June AdComm and multiple delays.</li><li>The cost of Kisunla is $32K/year, which is at a premium to Leqembi (Biogen, Inc. [BIIB]/Eisai Co., Ltd. [ESAIY]) at $26.5K/year, but total cost per patient should be lower for Kisunla, as treatment can be stopped with amyloid clearance.</li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Eli Lilly and Company (LLY) received FDA approval for donanemab (Kisunla) in early Alzheimer’s, which was largely expected following unanimous support from the June AdComm and multiple delays.The cost of Kisunla is $32K/year, which is at a premium to Leqembi (Biogen, Inc. [BIIB]/Eisai Co., Ltd. [ESAIY]) at $26.5K/year, but total cost per patient should be lower for Kisunla, as treatment can be stopped with amyloid clearance.

United Kingdom

AstraZeneca is a Swedish-British multinational pharmaceutical and biotechnology company focused on the discovery, development, and commercialization of prescription medicines. Its portfolio spans oncology, rare diseases, and biopharmaceuticals, including cardiovascular, renal & metabolism, and respiratory & immunology. The company was formed in 1999 through the merger of Astra AB and Zeneca Group PLC and is headquartered in Cambridge, UK.

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AstraZeneca (AZN LN)

Biopharma Week in Review: Makary Sparked FDA Optimism; Growing Pushback on HHS Changes

FDA Commissioner Martin Makary injected some regulatory optimism with his first public comments, advocating for accelerated drug approval pathways.

Water Tower Research

Biopharma Week in Review - November 11, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A. Last week, election headlines...

Water Tower Research

Biopharma Week in Review - September 30, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A. Last week, BMY received...

Water Tower Research

Biopharma Week in Review - September 16, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A.

Water Tower Research

Biopharma Week in Review - Jul 8, 2024

The cost of Kisunla is $32K/year, which is at a premium to Leqembi (Biogen, Inc. [BIIB]/Eisai Co., Ltd. [ESAIY]) at $26.5K/year, but total cost per...

Water Tower Research

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