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The three-horse race to treat a devastating form of muscular dystrophy is now down to two. One of the key players, Avidity Biosciences (RNA), is feeling particularly bullish about its chances. Last month, Fulcrum Therapeutics (FULC) dropped out of the race to treat facioscapulohumeral muscular dystrophy, or FSHD. In this condition, a mutation causes a gene called DUX4 to switch on. The protein it makes is "poison" to the muscles, says Avidity Chief Executive Sarah Boyce. Muscles in the face, shoulders, arms and legs begin to waste away, usually before age 20.Fulcrum said its drug failed to make a difference vs. a placebo in patients with FSHD. The company is suspending development of that drug. That means Avidity is now locked in a race with Roche (RHHBY) to treat the muscle-wasting disease. Avidity Biosciences is also testing treatments for myotonic dystrophy type 1 and a subset of patients with Duchenne muscular dystrophy. Two of its drugs are, potentially, "multibillion-dollar drugs," Boyce told Investor's Business Daily. There are about 40,000 people in the U.S. with myotonic dystrophy type 1 and 30,000 with FSHD. "It's one of those elements that is just so incredibly exciting in that we have three drugs, one after the other this year, that has the potential to make a profound impact in people's lives," she said. Avidity Biosciences Nears Record High Avidity Biosciences stock has been on a roll. After trading near 9 at the start of the year, the biotech stock has skyrocketed about 441%. Shares hit an intraday record high at 49.41 on Oct. 2. The La Jolla, Calif.-based company got its start in 2012 by focusing on RNA, which carries the instructions from DNA to the cells, which produce proteins. Sometimes, those proteins can cause problems. Two of Avidity's drugs silence RNA. A third aims to skip over the messenger entirely.

Genetic Engineering & Biotechnology News Home Topics Artificial Intelligence AI, Cell/Gene Therapy, Precision Medicine Drive Bullish Biotech Investment Survey of investors shows continued optimism for life sciences despite VC declines, antitrust and IP concerns By Alex Philippidis June 22, 2023 Credit: whyframestudio/Getty Images While life sciences investment has retreated from its all-time highs during the COVID-19 pandemic, investors surveyed by a national business law firm are still bullish about the sector based on the growth potential seen in artificial intelligence (AI), cell and gene therapy (CGT), and other new technologies. According to the 2023 Investment Funds Outlook Report issued recently by Barnes & Thornburg, more than one-third (36%) of 125 people surveyed included the life sciences as among areas of current investment or focus. Of those life-sci investors, 29% said they plan to invest an average of between $6 million and $10 million in a life sciences fund, while 28% said they will invest an average $1 million to $5 million. Encouragingly, 18% of investors plan to invest more than $25 million on average, and 16% between $11 million and $25 million—though the remaining 9% said they will only invest less than $1 million. The 125 investors consisted of limited partners, sponsors, and service providers who were surveyed in February with help from market data services provider Dynata. Survey respondents hailed from 29 U.S. states and represented hedge fund, private equity, credit, and venture capital organizations across the life sciences and more than a dozen other industries. The life sciences investors told Barnes & Thornburg they will continue to pour as much capital into their life-sci funds as they did before the financial markets turned bearish two years ago. That bearishness is reflected in declines for most biotech stocks as well as the 37% year-to-year decline in the total value of U.S. and European VC deals reported by EY, to $16.88 billion in 2022 from $26.62 billion in 2021. PitchBook data reported by commercial real estate firm Cushman & Wakefield a 28% year-over-year decline in U.S. life-sci venture investment, to $35.8 billion from $49.2 billion. VCs, vaccines, and value During Q1 2023, EY reported a total $2.381 billion in venture capital was invested in biotech companies, down 72% from the $8.541 billion invested a year earlier, and lower than any quarter of 2022. The VC decline is of particular concern since the market downturn has impeded companies from raising greater sums of capital (and investors from cashing in on or “exiting” their investments) by going public, whether by completing initial public offerings (IPOs) or by forming special purpose acquisition companies (SPACs). According to EY data, total biotech IPO value generated in Q1 2023 was $280 million, down 18% from $342 million in the year-ago quarter.

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Beware of these slogans: -Big pump soon. -Buy now 1000x. -Sell quickly. -To the moon. Majority of the people who share the above mentioned posts they themselves are in loss. Never pay attention to these sentimental comments. Always do your own research before any trade. Stay safe.

#Bitcoin - Just be lucky we don't have to chop for 7 months this time. But these 2 to 3 months of chop will capitulate a lot of people. This is a more bullish consolidation pattern than before.