Simone Rizzetto @SimoneRizzetto88: "📊 PORTFOLIO UPDATE: Jobs Shock,..."

Italy

📊 PORTFOLIO UPDATE: Jobs Shock, Biotech strong earnings 🚀 YTD +18.00%, August MTD +2.95%. The weak US jobs report on August 7 was the defining data release of the week. The economy lost 23,000 jobs in July, well below expectations. 📌 Pharma: Merger Drama, Earnings Beats, and Pipeline Progress ➤ $BMY (Bristol-Myers Squibb Co): Dominant story was the AstraZeneca merger reports. FT reported talks Aug 2, BMY surged 6%, while AZN dropped 9%. We bought the dip on AZN. A senior source then denied that discussions were taking place on Aug 5. Beyond the noise, BMY Q2 on July 30 was strong. Non GAAP EPS $2.04 vs $1.60, revenue $13.0B vs $11.74B. Full year EPS guidance raised to $6.75 to $7.00. ➤ $PFE (Pfizer): Q2 on Aug 4 beat. Adjusted EPS $0.77 vs $0.68, revenue $15.03B vs $14.41B. Eliquis surged 21% to $2.43B, full year revenue guidance raised by $500M. Pfizer also announced another $2.5B in cost savings through 2029. Berobenatide showed around 12% weight loss at 28 weeks. 📌 Biotech: Earnings Blowouts and Pipeline Expansion ➤ $IOVA (Iovance Biotherapeutics Inc.): Record Q2 revenue of $99.3M, up 66% YoY and above guidance of $86M to $88M. Amtagvi revenue was ~$91M and gross margin improved to 56%. Shares surged 43% following the results. FDA Fast Track was granted for lifileucel in soft tissue sarcomas. ➤ $BBIO (Bridgebio Pharma Inc): Q2 results were a strong validation of the Attruby commercial ramp. Revenue came in at $243.7M, up 120% YoY and about 10% above the ~$221M consensus. Attruby generated $222.4M in net product revenue, up 211% YoY. EPS came in at a $0.78 loss vs ~$0.63 expected, but the key takeaway was the strength of the commercial launch. BridgeBio ended the quarter with $720M in cash, with pro forma cash of around $1.7B following the $1B preferred financing. With Attruby scaling rapidly and multiple pipeline programs advancing, the BBIO thesis continues to strengthen. ⏳ Outlook August 12 CPI is critical. Most of our companies have now reported earnings, with $NVDA (NVIDIA Corporation) the only major position still missing. So far, no huge surprises. The data is broadly confirming our investment theses and the outlook remains strong. $SPX500 $NSDQ100

Not investment advice. The author may have financial interests in the mentioned instruments.