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Roche is stepping into the MASH/NASH race. The company will acquire 89bio (ETNB)  for $14.50/share in cash  (~$2.4B equity value). On top of that, shareholders get a CVR worth up to $6.00/share , bringing the total potential deal value to $3.5B .   The Asset The prize is pegozafermin (pego) , 89bio’s lead program for MASH/NASH. Pego is a glycoPEGylated FGF21 analog . Designed to drive weight loss, reduce liver fat, and improve fibrosis.   Deal Terms Cash upfront:  $14.50/shar

This blog post provides updates re: targets for our portfolios. Targets are set on a quarterly basis after the prior quarter biopharma-focused hedge fund filings are available. Run-Up targets are updated on an ongoing basis.

We made updates to our Run-Up targets today based on the updates we made to our other portfolios based on the Q2 2025 hedge fund data. And we made some tweaks for the Top 50 fund too. The Run-up numbers add up to over 100% because we will be exchanging some tickers in the coming weeks.

Summary Hedge fund holdings can help you discover new investment ideas We identified & follow the top biopharma-focused hedge funds Q2 hedge fund holdings reports were released on ~08/14/25 This report focuses on top holdings of top biopharma hedge funds as of 06/30/25 Top Biopharma Hedge Funds At BPIQ we identified the top smid-cap biopharma-focused hedge funds ^1. We updated our database of holding and other info re: these funds with their recently-released data for holdings

Summary

Our Q2 Hedge Fund data is now updated! A few favorite stocks are lining up for major readouts in Q3–Q4, and some are likely to move big. Below are 6 key catalysts we’re watching closely. 📈 📉   $ MLTX  Sonelokimab / Hidradenitis Suppurativa / Phase 3 » Potential for a highly differentiated, “gold standard” therapy in HS » Achieved highest responses to date in HS » Ph2 MIRA trial in HS was designed as a pivotal study Ph2 results recap 👇 $ CRNX  Paltusotine / Acromegaly / PDU

Our Q2 Hedge Fund data is now updated! A few favorite stocks are lining up for major readouts in Q3–Q4, and some are likely to move big.

So, SC Pharma (SCPH) dropped about 4% after reporting their Q2 2025 update on August 7 even though revenue was up big both quarter-over-quarter and year-over-year. At first glance, that makes no sense, right? But here’s what I think is going on.

So, SC Pharma (SCPH) dropped about 4% after reporting their Q2 2025 update on August 7 even though revenue was up big both quarter-over-quarter and year-over-year. At first glance, that makes no sense, right? But here’s what I think is going on. The Kidney Doctor Puzzle They’ve got this new kidney indication approval, and management made it sound like they were breaking into that market fast. Turns out… not so much. Apparently, tracking down and getting in front of these kidn

Looking for a faster way to identify key biotech events and upcoming catalysts relevant to your portfolio? The Advanced Catalyst Search in BPIQ is a powerful tool designed to help you zero in on what matters most, from drug development timelines to market-moving events. Here’s a quick guide to get you started: 🔍 Accessing the Tool Go to the Catalyst Calendar  page in BPIQ. Click the “Advanced Search Filter” button. ⚙️ How to Use the Filters Customize your search by applying