Keep pulling the thread on Adam May.
As of early 2023, the small-cap biotech sector had experienced over a decade of negative returns.
Amgen has canceled its OX40 inhibitor drug, rocatinlimab, following disappointing Phase 3 efficacy and safety signals.
Adam May estimates that peak sales for Nektar's Respeg in alopecia areata alone could easily reach $2 billion.
Adam May believes every successful ulcerative colitis trial in the biotech sector has resulted in a buyout of the company.
Merck acquired Prometheus Biosciences (RxDX) for almost $11 billion after it reported positive Phase 2 data for its ulcerative colitis drug.
Adam May predicts that Abivax will be sold after its maintenance data is released in June.
Adam May and a partner achieved a 1,400% to 1,500% return on their biotech investments over an 18-month period during 2020 and early 2021.
Adam May and his partner received seed capital from Alex Robertson of Tiger Management to start a small hedge fund.
The hedge fund Rare Life Capital, co-founded by Adam May, launched in the second quarter of 2021 and closed down one year later after a nearly 50% drawdown.
The XBI biotech index experienced a peak-to-trough drawdown of approximately 55% in the year following Q2 2021.
Adam May believes the small-cap biotech sector is one of the most uncorrelated sectors to the broader market and often moves inversely.
A primary reason many investors were not interested in Abivax's drug, Obifazomod, was that its true mechanism of action was and still is unknown.