GRTS - DD - August 2021
GRTS - Gritstone Bio
Price: 9.20 (8/31/21)
OS: 50M
Float: 40M
Cash: $176M (about 24 months worth)
What they do
About: gritstonebio.com/about
Pipeline: gritstonebio.com/our-pipeline
Chart
Big run up and pop to 30s was from CORAL COVID-19 program for second gen vaccine starting - https://ir.gritstonebio.com/news-releases/news-release-details/gritstone-advances-second-generation-covid-19-vaccine-coral
Has trended down ever since
Turned around @ 6.45 and has started uptrend going into September 2021 catalysts
Upcoming catalysts
There are three coming up in Q3 2021
GRANITE – Individualized, TSNA-directed immunotherapy - Colorectal cancer, gastric cancer - Phase 1/2 Data @ ESMO September 16-21 (embargo to be lifted on abstracts on 17th - I think - https://www.esmo.org/meetings/esmo-congress-2021/press-media )
SLATE – “Off-the-shelf” neoantigen-directed immunotherapy - advanced solid tumors - Phase 2 data due 3Q 2021 - exact date unknown.
CORAL - COVID 19 - Phase 1 data due 3Q 2021. Exact date unknown.
Thoughts
The patient-specific immunotherapy data should bring a decent run in September. The technology sounds awesome, even though I don’t understand it.
I was originally in for the GRANITE and SLATE data, the COVID stuff is a bonus.
I thought the COVID vaccine battle was over, but it’s not. Delta is making that clear. Their approach makes sense to me and they seem quite confident in it: "Our unique approach combines our self-amplifying mRNA platform with a broad set of viral antigens beyond spike intended to drive robust and durable immune responses comprising both neutralizing antibodies and CD8+ T cells. With this unique antigenic breadth, our CORAL vaccine may offer protection against emerging spike variants of SARS-CoV-2 that appear challenging for first generation vaccines," said Andrew Allen, M.D., Ph.D., co-founder, president and chief executive officer of Gritstone”
Trades
I’ve traded it a few times since that 6.45 bottom. I exited just before the data “preview” at 8.60, it dropped to 7.75 or so, I wasn’t even looking, and it bounced back up to mid 8’s before I realized it, so paid the piper at 8.80 and now have my position from there.
They’ve got a lot of data to release in September, across three different trials. The main one I’m interested in is GRANITE @ ESMO on the 17th. I won’t hold through that data, but I’ll be back in right after it’s released, because I think the CORAL data will be out at end of month/30th. SLATE will probably come out between GRANITE and CORAL.
Gritstone Oncology Inc - GRTS
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