Biotech - Solomon Grey Capital

Research

The 8,323-Patient Failure: Why Biotech's Rebound Is a Selection Trade, Not a Sector Revival

Novartis's failed Lp(a) trial did not break biotech's rebound. It exposed the market's real test: capital is returning, but only to clinical proof and de-risked assets.

Dark navy oncology laboratory with an illuminated vaccine vial and molecular forms

Research

Moderna's 177% Repricing: Why a Cancer-Vaccine Win Does Not Restore the Old Platform

Moderna's melanoma-vaccine trial is a genuine scientific win, but the 177% stock surge prices in more than one product. The next test is execution.

An empty pharmaceutical laboratory at dusk with a polished stainless steel bench, a single glass beaker holding clear liquid, soft amber light from an overhead pendant fixture

Research

Citi's Six-Stock SMid Biotech Note: Why the Buy-Buy-Buy-Buy-Buy-Neutral Pattern Is the Sector Inflection

Citi initiated coverage on six SMid biotechs last Monday. Five Buys. One Neutral. The pattern, not the targets, is the sector call long-only generalists missed.