Author Archive: David Thomas, CFA

David Thomas, CFA

David is currently Director of Industry Research and Analysis at BIO in Washington, DC. In this role, he is responsible for financial statistics and analysis of the biotechnology sector and contributes to BIO’s policy activities as well as programming for BIO’s investor conferences. Prior to joining BIO, he was a research scientist at the J. Craig Venter Institute working on the “synthetic cell” team led by Nobel Laureate Hamilton Smith. Before his role in synthetic biology, David worked as a scientist in drug discovery at Amgen, Millennium, and Novartis. His scientific expertise is in protein engineering, enzymology, and synthetic biology. David has earned the Chartered Financial Analyst (CFA) designation and holds a master’s degree in biochemistry.

Latest Posts

Therapeutic Discovery Project Awards Provide Much Needed R&D Support

This morning, U.S. Treasury Secretary Timothy Geithner and HHS Secretary Kathleen Sebelius announced the awardees of the Therapeutic Discovery Project (TDP). We are running a few analytics on the recipient list and posting them here, along with links to relevant articles/blogs. Here is a primer: 5600 projects were submitted by ~3000 companies The maximum amount a project received was $244,479 78% of projects received the maximum amount Average project award was $217,108 72% of the Read More >

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State of the Industry – From BIO Investor Forum 2010

Here is our slide deck from the 9th annual BIO Investor Forum in San Francisco: BIO Investor Forum 2010 final   From the media and blogosphere: Bloomberg in vivo blog Medical Technology Stock Letter

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IPO update: 28 IPOs, 24 on Deck

The number of IPOs slowed during the summer, but the queue has been filling nicely.  Fifteen more biotechs have filed to go public in the last month and a half, bringing the total to 24 globally. The two US IPOs this summer were from NuPATH and Trius. Again, we saw a reduction in the amount planned vs actually raised for these IPOs. On average, US biotechs have raised an amount 28% below what is first Read More >

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1Q Cash Spending – Small Biotechs Still Spending Less

A comparison of cash spent on operations in the 1st quarter of 2010 vs the 1st quarters of 2009 and 2008 for small public biotechs shows a slowing in the precipitous drop seen over the last 2 years. However, the average small biotech is still spending less cash vs. 2008. When compared to 1Q08, the median cash flow from operations (CFO) in 1Q10 is down -40%. From 1Q09, median CFO is down -15%. See chart Read More >

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Biotech Sector Performance Update 1H 2010

In my last update back in April, the broadest Biotech index (the 125 company Nasdaq Biotech Index, NBI) was up 11% for the year and ahead of just about every major sector. One quarter later things look a little different. The NBI is now down 5% and trailing 4 of the 10 S&P sectors (chart 1): However, the spotlight continues to shine on the AMEX Biotech Index (BTK). The BTK is up 8.6% for the Read More >

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