Charting for 2U : 1) insignificant growth for fee-for-degree programs since 2019; 2) more diversified with expensive fee-for-certificate programs.
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Online Higher Education (5) – Education Company Stocks
A Python Generated Graph On Airlines’ Load Factors
Major airlines usually would post their monthly operation results on IR websites. While United Airlines and Southwest Airlines among other stopped reporting in 2019, Alaska and Delta are still doing so.
Load factor is a measure of the use of aircraft capacity that compares Revenue Passenger-Miles as a proportion of Available Seat-Miles.
Below is a three-part project that automatically downloads, summarizes and creates chart for 4 airlines’ load factor.
Download
Given certain years, the program will go through pre-defined links to search for monthly report urls and scrap relevant data based on the page structure. BeautifulSoup is used here.
Summary
The program uses file reading and writing to put four airlines’ data together while adjusting for missing data (aligning based on month)
Charting
The program converts csv to excel and draws the chart based on data. pandas and xlsxwriter are used here.
With some adjustments, the program should be able to scrape and virtualize other web-based standard reports.
Germline Genetic Testing: BRCA
Genetic testings have different significances and it seems that BRCA is currently the only gene of hard demand (CDx) in cancer treatments among germline testings.
Myriad and AstraZeneca
Back in Dec 2014, AstraZeneca received FDA approval for the first PARP inhibitor LYNPARZA, as monotherapy in patients with deleterious or suspected deleterious germline BRCA-mutated advanced ovarian cancer who have been treated with three or more prior lines of chemotherapy.
Concurrent with the approval of LYNPARZA, FDA has approved the BRACAnalysis CDx (Myriad Genetics) for the qualitative detection and classification of variants in the BRCA1 and BRCA2 genes.
Myriad is a pioneer in genetic testing, especially for BRCA. BRACAnalysis CDx is blood-based, using PCR and Sanger sequencing to gauge single nucleotide variants and small indels, and multiplex PCR to assess large deletions and duplications.
Foundation Medicine and Clovis Oncology
In Dec 2016, Foundation Medicine’s FoundationFocus CDxBRCA was approved by FDA as the first NGS-based companion diagnostic, for Clovis Oncology’s PARP inhibitor Rubraca (rucaparib), for patients with deleterious BRCA mutation (germline and/or somatic)-associated advanced ovarian cancer who have been treated with two or more chemotherapies.
Myriad and Clovis
In April 2017, Myriad and Clovis Oncology announced the CDx collaboration on Rubraca. “The companion diagnostic test approved with Rubraca does not discriminate between germline and somatic mutations. Knowledge of germline status is important to provide patients appropriate counseling.”
Myriad and Pfizer
In Oct 2018, the Myriad’s BRCA test was also approved as CDx for Pfizer’s PARP inhibitor Talzenna, for patients with HER2-negative metastatic breast cancer (mBC) who have a germline BRCA mutation.
Expanded PARP usage
In Jan 2018, AstraZeneca’s LYNPARZA received approval for expanded usage in breast cancer, for patients with germline breast cancer susceptibility gene (BRCA) mutated, HER2-negative metastatic breast cancer, who have been previously treated with chemotherapy. Patients with hormone receptor (HR)-positive breast cancer should have been treated with a prior hormonal (endocrine) therapy or be considered inappropriate for endocrine treatment.
FDA also expanded the approval of the BRACAnalysis CDx, an approved companion diagnostic to Lynparza, to include the detection of BRCA mutations in blood samples from patients with breast cancer.
In Dec 2019, Lynparza was approved in the US as a 1st-line maintenance treatment of germline BRCA-mutated metastatic pancreatic cancer, for patients whose disease has not progressed on at least 16 weeks of a 1st-line platinum-based chemotherapy regimen. Myriad’s CDx usage was also expanded.
While the market expanded, more players are coming to this field. Since 2013, there is a growing number of labs providing BRCA testings – mostly are not for CDx.
Prices are very different for example.

But overtime, the ASP is definitely coming down.


Meanwhile, FDA approved 23andMe’s DTC BRCA genetic testing in March 2018 (again, not for CDx) – testing for 3 BRCA1 or BRCA2 mutations to identify women at increased lifetime risk of breast cancer.
Drugstore Chains In China Adding More Franchised Locations
Two leading national drugstore chains keeps adding more franchised stores than directly operated stores.
Franchised model is more efficient in
-
- leveraging existing distribution network -> improving its utilization
- aggregating demand & volume -> better pricing terms from manufacturers
- distributing store management (inventory + O2O sales + payment + CRM) software -> higher margin fees
China Drugstores: # Of Stores, Drugstore Chains, Share Of Top 10 Chains
The independent drugstores will find it harder to compete and the percentage of drugstore chain’s locations will steadily increase.
The “50% chain rate by 2020” target was set in 2016. In US and Japan, the percentage of chain stores is over 70%.
Source: www.sfdaic.org.cn/statistics
The market share in sales for top chains keeps increasing, as their sales grow faster than industry average.
Source: 中国药店,中信证券
* the total drug retail sales data is a little different from the previous post China Medicine End Market Sales (2018: 391.9 vs. 400.2 billion RMB, 2% higher in this report)
China Medicine End Market Sales Data
Data estimated by 米内网 (menet.com), which was formerly 中国医药经济信息网, created in 1997 by (formerly) CFDA Southern Research Institute.
According to the data, the overall end market sales grew 6.3% to 1713 billion yuan (or ~$250 billion) in 2018.
Retailer channels continues to grew at above-GDP rate (7.5% in 2018).
The data is not including sales in private hospitals/clinics, etc. The overall sales would be 2 trillion yuan for 2018 if included.
「News of the Week」Iran And Middle East
WSJ – Targeted Killing of Iranian General Puts U.S. at Crossroads in Middle East
Dots to connect: rising oil price, trade routes, military roll-back?, just to make election more complicated?, starting point to a series of actions that would lead to the justification of uses of special (presidential) powers?, etc.
「Video of the Week」A Conversation with Quanterix CEO in 2018
A video to better understand the importance and potential of detecting molecular sin a ultra sensitive way, for the last post – Quanterix: A Growth Story Just Began.
Quanterix: A Growth Story Just Began (1)
Quanterix (Nasdaq: QTRX) is building a razor-blade model just like Illumina. With its ultra sensitive detection, Quanterix is revolutionizing immunoassay especially in neurology, improving the industry’s capabilities to access/evaluate related molecular data, understand diseases better and designing drugs/trials around it.
In recent quarters, Quanterix saw a continued growth in its consumables, which is the bread-and-butter due to its recurring nature and higher margin (than selling instruments.
Of course, the instrument sales are important, as the cumulative count (or installed base) should drive more recurring revenues in consumables.
Currently, the consumables revenue / instrument is ~$70k per year.
