Random thought
1/ AI can predict the next frame of a video.
2/ brain waves can happen in certain patterns before human acts / thinks
(I am reading Incognito: The Secret Lives of the Brain by David Eagleman)
3/ brain waves can be observed and used to predict human mind – even before a person becomes consciously aware of a decision
And it probably should be down.
Top weighted companies within $IBB are Gilead, Vertex, Amgen and Regeneron.
Gilead 1q 2022 revenue was $6,590 million and 1q 2025 revenue was $6,667 million – no growth for 3 years.
Vertex 1q 2022 revenue was $2,097.5 million and 1q 2025 revenue was $2,770.2 million (but 1q 2024 revenue was $2,690.6, so revenue growth slowed significantly). Additionally, Vertex shows no growth in non-gaap operating income.
Amgen is better – 1q 2022 revenue was $6,238 million and 1q 2025 revenue was $8,149 million. But growth is smaller in operating income vs 3 years ago – non-gaap operating income grew to $3,599 million in 1q 2025 vs $3,140 million in 1q 2022, or ~15% growth in 3 years.
Regeneron 1q 2022 revenue was $2,965 million and 1q 2025 revenue was $3,029 million – no growth vs. 3 years ago and 1q25 vs 1q24 declined 4%.
Gilead and Vertex stock performance is not bad actually.
In the past 3 years, Gilead stock is up 75% and Vertex stock is up 50%.
However, the index is pressured – only those companies with promising new “story” to tell are up meaningfully. Existing business lines are not sexy as shown above.
No rising tide that could lift all boats post covid – only dangerous ones like rising interest rate.
On March 19, President Donald Trump declared an anti-malaria drug a “game changer”.
Here is a video for how it works.
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.
As the new Alzheimer’s drug by Green Valley Pharma approved in China earlier this year, here is a video for this seaweed-based drug (甘露特钠胶囊，GV-971).
And a video for Alzheimer’s disease in general.
Updates: The drug officially launched on Dec 29.
Differences in numbers:
There are other related trends in meal replacement & dairy substitutes,
insect protein and seafoods
Why now:
Full report here.
BeiGene (NASDAQ: BGNE; HKEX: 06160), announced on Nov 14 that BRUKINSA™ (zanubrutinib) has received accelerated approval from the US FDA as a treatment for mantle cell lymphoma (MCL) in adult patients who have received at least one prior therapy. This is the first time that the FDA approved a drug based on efficacy data that is predominantly from China. // reuters | BeiGene
Trip.com (NASDAQ: TCOM), formerly Ctrip.com (Nasdaq: CTRP) and TripAdvisor (Nasdaq: TRIP) announced a strategic partnership on Nov 6 to expand global cooperation, including a joint venture, global content agreements and a governance agreement. TripAdvisor will own 40% of the joint venture. Trip.com shall acquire up to 6.95 million TripAdvisor shares or TripAdvisor shares valued at USD317.6 million through open market transactions within one year following regulatory approvals. Trip.com will have a nomination right for one TripAdvisor board seat commencing upon the relevant regulatory bodies’ approvals of the transaction. // TripAdvisor
Luckin Coffee (NASDAQ: LK), a coffee chain founded in 2017 in China and operating only 9 stores that year, grew to 3,680 stores at the end of 2019 Q3, with quarterly revenue expanding more than 6-fold to RMB1,493.2 million from RMB227.1 million a year ago. Also mentioned in the earnings release, Luckin “strategically launched Luckin Tea as an independent brand and developed our new retail partnership model, .. engaged in ongoing discussions with potential strategic partners to set up joint ventures in markets outside of China.” // Luckin Coffee
Following up on the update for cannabis public companies, here is a video for the weed-adjacent dietary supplement known as cannabidiol, or CBD.
Shanghai Green Valley Pharmaceuticals (Green Valley, 绿谷制药) today announced on Nov 2 that China’s National Medical Products Administration (NMPA) has approved Oligomannate (GV-971) as new drug for the treatment of “mild to moderate Alzheimer’s disease (AD) and improving cognitive function.” It is the first novel drug approved for Alzheimer’s disease globally since 2003. The company is also planning a global phase 3 trial with sites in the U.S., Europe and other parts of Asia in early 2020 to support regulatory filings around the world. // prnewswire | fiercepharma
On Nov 5, Nio (NASDAQ: NIO), long being seen as the Tesla in China, announced its partnership with Intel’s Mobileye to build self-driving EVs. Under the planned collaboration, Mobileye will provide NIO with the design of the self-driving system building on the Mobileye AV Series, a L4 AV kit comprised of the Mobileye EyeQ® system-on-chip, hardware, driving policy, safety software and mapping solution. NIO will take on the automotive-grade engineering, integration and mass-production of Mobileye’s system for both consumer automotive markets and for Mobileye’s mobility-as-a-service (MaaS) applications. In addition to integrating the self-driving system into its vehicle lines, NIO will develop a specially configured variant of electric AVs that Mobileye will use as robotaxis, deployed for ride-hailing services in global markets. // TechCrunch| intel
36Kr (NASDAQ: KRKR), a Beijing-based news and data provider, known for tracking fundraising and tech related news in China, raised $20 million in its Friday debut on NASDAQ. The company is similar to TechCrunch or Crunchbase (its affiliated Crunchbase News). // Crunchbase News