BullishDoctor (@NeuroStockDoc) header
BullishDoctor (@NeuroStockDoc) profile picture

MD. Neurologist. Journaling investing journey. Micro through Large Caps.

Joined August 2015
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BullishDoctor retweeted
Replying to @mahesh_shenai
@mahesh_shenai, Although we have never met, I addressed Dr. Mallika Mundkur at the @FDA's CNPV public meeting, whom I understand is your wife. After reading nearly 20 of your posts concerning Huntington’s disease (HD) and AMT-130, I have to ask: Are you evaluating the totality of the evidence, or predominantly searching for reasons to discount it? You repeatedly express hope that you will someday treat Huntington’s disease patients. But how much direct experience have you had with our community? Have you spent meaningful time with symptomatic patients across disease stages, witnessed their progressive neurological decline, or spoken with families about their risk tolerance? I ask because I have. HD has devastated three generations of my family. My grandmother died after years of suffering. Her chorea was so severe that she wore padded mittens for nearly four years to prevent her involuntary movements from dislodging her feeding tube. I was nearly my daughter’s age when my grandmother developed symptoms. Now both my daughter and son are watching their grandfather and aunt experience the same disease. My father is in the middle stages of Huntington’s disease, while my aunt is further along in its devastating progression. As a mother, I live with the painful reality that my children may one day witness this same deterioration in me—or, even more heartbreaking, experience it themselves. What I witnessed as a little girl, my children are witnessing today. Different generations, the same devastating cycle we are desperately trying to break. The psychological consequences are equally profound. A fellow Michigander and HD advocate recently lost her father to suicide. Another Michigan chapter board member nearly lost her niece, and several HD friends have lost loved ones to suicide. Suicide risk among people with Huntington’s disease is substantially higher than in the general population. Why? Imagine caring for someone you love while witnessing years of relentless neurological deterioration, all while knowing you could face the same fate. And even if you escape inheriting the mutation, you may carry the lifelong burden of survivor’s guilt as those you love continue to suffer. This is the profound, multigenerational trauma of Huntington’s disease. More than 40,000 Americans live with HD, and over 200,000 are at risk. Those figures do not include the countless caregivers and relatives whose lives are also affected. Your anecdote about a surgeon with another movement disorder reinventing his professional life was particularly revealing. When I read it, I immediately questioned your firsthand understanding of HD. HD does not afford patients the luxury of simply reinventing their lives. It progressively damages the brain circuits responsible for cognition, judgment, behavior, movement, and independence. Symptoms can worsen over 10–25 years, gradually taking away the ability to work, communicate, maintain relationships, swallow, walk, talk, and care for oneself. The ability to reinvent one's life requires precisely the neurological capacities HD progressively destroys. HD takes away the ability to meaningfully participate in life altogether. The 2024 HD Symptoms and Treatment Impact Survey found that nearly three-quarters of respondents would accept treatment risks for five years without progression, while approximately 35% would accept risks for even three years. Three more years raising children. Five more years working, communicating, remembering, and living independently. More birthdays, graduations, and time with family. Then consider the economic consequences of inaction. Over 10–25 years, HD families will face neurologists, psychiatrists, hospitalizations, expensive chorea and psychiatric medications, physical and occupational therapy, speech and swallowing therapy, mobility equipment, home modifications, specialized residential care, and eventually around-the-clock assistance. HD removes two people from the workforce: the patient and the family member who becomes their caregiver. Families lose wages, insurance benefits, retirement savings, and years of financial security. Many conventional care facilities lack the specialized neurological and behavioral resources required for HD, leaving families with limited options. These costs accumulate across households, employers, Medicare, Medicaid, disability programs, and society. When evaluating the risks and costs of treatment, why is the cost of inaction so often treated as though it were zero? If AMT-130 meaningfully preserves independence, the potential economic and societal benefits deserve consideration. You have described yourself as one of approximately 80 U.S. neurosurgeons with expertise relevant to this procedure. If AMT-130 does not meet your personal threshold for clinical adoption, that is your judgment. But your threshold is not the FDA's regulatory standard, nor should it determine the choices available to every informed patient and qualified physician. Other neurosurgeons may recognize the broader significance of this investigational gene therapy. If its clinical benefits are confirmed, AMT-130 could help transform how we approach inherited neurodegenerative disorders beyond HD. Regarding surgical risk, stereotactic neurosurgery has been performed in humans since 1947. Trial experience suggests the procedure has generally been tolerated. But the question is not whether neurosurgery carries risk. It does. The question is whether those risks are acceptable relative to the potential benefit for patients facing a progressive, fatal disease without an approved disease-modifying treatment. Your professional risks and our personal risks may look entirely different. For you, this is a discussion of procedural complications, evidence, and professional responsibility. For us, it is progressive neurological deterioration, dependency, and premature death. The reported AMT-130 findings, including favorable Total Functional Capacity trajectories compared with external controls, deserve serious consideration. TFC measures employment, financial management, domestic responsibilities, daily living, and care requirements. It measures the independence HD progressively takes away. Scientific skepticism is essential, but it must be applied symmetrically. Our community has also been wounded by regulatory rhetoric. @VPrasadMDMPH, your wife’s former boss, recently compared patients pursuing unproven treatments to a drowning person reaching for a blade. Regardless of the intended scientific warning, such language risks reducing informed, deeply personal benefit-risk decisions to acts of desperation, overlooking the devastating consequences patients and families face without treatment. Our willingness to accept uncertainty is not desperation. It reflects a rational understanding of what HD will otherwise take from us. Imagine watching someone you love progressively lose the ability to think, communicate, walk, swallow, or even recognize the people they love most. Now imagine living with the knowledge that the same devastating disease could one day affect you, your children, your siblings, or generations of your extended family. This is the reality of Huntington’s disease. What would a few additional years together mean? What would you do to break the cycle? I am not asking you to abandon scientific standards. I am asking you to recognize that the consequences of waiting are as real as the risks of treatment. The absence of treatment is not the absence of risk. It is continued disease progression, escalating dependency, enormous psychological and economic suffering, and irreversible neurological loss. You may see an investigational neurosurgical procedure that has not met your preferred evidentiary threshold. We see a potential opportunity to preserve the ability to think, communicate, work, love, and remain present in our families' lives. We are asking for scientific judgment that accounts for the full reality of Huntington’s disease. P.S. Go Blue! 〽️💙💛 #HuntingtonsDisease #RareDisease
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BullishDoctor retweeted
The average lead time for most drug production equipment is ~6 months (though ordering ahead + custom solutions creates a range of 6-18mo for orders to revenue). Current expectations for onshoring are that the benefits will land most acutely 2027. $DHR / $SRT are more confidently suggesting that equipment has bottomed with potential for 2H to be the return to growth. This would imply that their 2Q earnings calls, most of the production capex companies will have gained the visibility they need to raise CY26 guidance based on orders in hand, if they haven't already (like $WAT to some extent). It also marks the potential for more of this alleged CY27 to become visible as early orders + ones w/ customization get made (most commonly done for bioreactors). On one hand, consensus estimates for 2Q across the tools space seem only achievable/modestly beatable in most cases, and big bioprocess cos are no different, especially if relying on consumable growth (commercial is not volatile and is most of mix for big guys, tougher comps in 2Q on last year's small tariff pushout + pull fwd), and guides are already somewhat back-half-weighted. This is much like last Q where 1Q performance wasn't enough to move guidance higher. On the other hand, however, there could be a lot to look forward to, and least for those with bioprocess or QC exposure... Taken together 1) most tools companies have done a good job keeping near-term expectations low, 2) bioprocess or QC equipment is more volatile than consumables/service, 3) we have allegedly bottomed in production equipment, and 4) companies now have orders in hand to underwrite equipment sales for the full year. Scenario you're playing for would be that the entire complex beats + raises/maintains to de-risk guides and the one you own beats, raises, and convinces everyone it could happen again in 3mo. Cleveland's surveys seem to back up the notion that "things got better" for pharma equipment demand in 2Q vs 1Q. Trial starts data / CRO bookings have been great for a couple quarters, which also supports the ideal that consumables exposed to clinical trials could accelerate. FDA seems to be focused on helping industry sentiment too. Most trad tools companies have already run 10%-15% last month but most of those not attached to the AI trade are still down YTD after a negative 2025. The space is basically back to ~flat vs pre-earnings selloffs when recovery/upside didn't materialize. The conglomerates still have to contend with weak A&G/pharma non-clinical R&D exposure all year, and the CROs have re-rated partially on tools correlation + the confirmation that the trial environment is in upswing mode. However, seems like there's still too much unjustified correlation happening. Lot of ways to sneakily play where the actual recoveries are happening. For example, pure-plays on production moved about the same over the past month and will stand out fundamentally. Both $SRT and $RGEN seem asymmetric given that 1) they both beat/tracked ahead of guide in 1Q but didn't raise because 2) they refused to guide in a way that captures equipment demand recovering in 2H, 3) they have higher exposure to clinical trial volumes vs $DHR or $TMO, and 4) their shares have largely performed the way the R&D tools guys did since last Q despite being the ones most capable of beating + raising. What gives me pause on $SRT is that we never know the quarterly consumable/equipment dynamic and there's a decent risk consumables comps were way bigger than we all thought in 2Q25. Is in-line + guide raise going to be as well-received as beat + raise? The way I could be wrong on equipment: management gets over-conservative and doesn't guide most of the recovery at all and makes us wait for a big 4Q beat or something. Orders got pushed out in the past which burned guys like and $SRT (2Q24) and $DHR (went from talking up numbers to talking them back down in mid-2025). Doesn't help that the seasonally-biggest quarter for equipment on average is 4Q. $RGEN has shorter lead times which could cut both ways but also makes it less likely they chicken out when the orders land. RGEN setup keeps seeming good into EPS season and then suffering from positioning being too crowded into their print + random 1-off drama like divestitures + big customer inventories + all the dumb bear ST & LT cases invented by the pods. All of said bear cases keep dying/getting addressed/being proven wrong, the company keeps beating estimates, and the macro backdrop keeps improving in ways they benefit the most from vs peers. A drama-free quarter could be a spring-loaded one this time around. Don't @ me for shilling my pet stocks. You do it too. Speaking of pet stocks, I think Peter has the timing right with $RPID. I put this on the backburner back in Dec for $TWST (pods - why on earth did you make this a consensus short?) and trying to be an AI bottleneck bro while still being somewhat true to my quality/LT growth lens. This proved fortunate and the timing to rotate back looks... perfect? The above dynamics on equipment could benefit them (even if it's harder to read macro to a small co w/ an underpenetrated product), and they already beat guide on placements/validations in 1Q. The bigger positive surprise came from consumables to boot looks like pull-through is accelerating. Similar to the RGEN setup but with more torque + more ways things are progressing favorably. They had 100% success w/ their $AMGN validations in the quarter and now you're seeing their products listed on $MRK's channel. Management also has their stock comp now, so no disincentive to raise guide if/when they beat again. The cash burn surprise and subsequent raise at the bottom was lame, but the size of the dilution pales in comparison to what you're playing for w/ RapidCoin IMO. Think it's worth a second look if you're like me and looking for new longs to replace the stuff that worked. All that aside, I'd also caution those touring the space for AI exposure. Benefits to fundamentals are going to be far more modest than people seem to expect in the near-term and probably the medium-term. It's just the nature of the industry to be slow, but it's more than that - while a lot of societally-exciting stuff is going to happen over the next 3-5 due to LLMs in biotech, the actual value capture is going to be much more complicated to isolate and invest in. LMK what you guys think... getting harder to make myself post regularly when there's too little engagement, debate, etc. Shoutout to the ppl who come for me in the DMs whenever I do these, I actually enjoy/welcome the debate even if your words are harsh. Will pontificate more later.
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BullishDoctor retweeted
$qure $clpt Amt 130 holy fucking shit 5 years ago! Rush university She says he got it 5 years ago and is back to work!!! He was no longer able to work. Not only stabilized but he has improved!! He is working full time. Omg youtu.be/DdBIzSN6tX4
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The FDA Commissioner role is open. This is a pivotal moment for American medicine — & for American patients. Here’s what I believe the next Commissioner should stand for. Not as a wish list. As a baseline. 🔬 1. BRING BACK THE ADCOMS — AND MAKE THEM COUNT. Advisory Committee meetings are one of the FDA’s most powerful tools for transparency. They should return in full force. Open. Public. And real. Patients, doctors, scientists, advocates, & skeptics should all be able to speak. But if you want to speak, you fill out a financial conflict-of-interest form under penalty of perjury — & you read it out loud at the podium before you say another word. Every single person. And if the issues are complex and the science requires more than one day, then take the time. Don’t cut people off because the schedule says so. The public deserves to see exactly how these decisions are made. Real transparency builds real trust. ⚖️ 2. STOP ASKING ONLY “IS IT SAFE ENOUGH TO APPROVE?” — START ASKING “WHAT HAPPENS IF WE DON’T?” For rare diseases. For serious conditions with no good options. For patients who don’t have ten years to wait for traditional trials that may never be feasible. Every regulatory decision carries two risks: the risk of approving something, and the risk of not approving it. Both are real. Both affect real people. When traditional gold-standard trials aren’t practical, we should still be able to move with urgency — but only when paired with strong post-approval commitments and rigorous safety monitoring. We can give desperate patients a chance without abandoning scientific integrity. 🇺🇸 3. THE FDA’S ONLY CLIENT IS THE AMERICAN PATIENT. FULL STOP. The FDA exists to serve patients — not outside interests or external pressures of any kind. It must continue protecting the public from products that carry real, known risks but offer no meaningful clinical benefit. At the same time, when there is credible evidence that a treatment can help patients with serious conditions, Americans and their physicians should be trusted to make informed decisions once they have complete and honest information about the risks, benefits, and alternatives. The FDA’s job is to make sure the science is sound and the information is clear. Then let patients and doctors do what’s best for them. These principles matter because the FDA’s decisions affect every family in this country. Note: This is a simple social media post and not a massive policy document. The issues are FAR more nuanced, there are challenges and risks with each of the things I said above, and I recognize that. But it's intended to serve as a discussion starter. We must always strive to improve, and we can when we have open debate and dialogue.
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BullishDoctor retweeted
$clpt Neurona getting bought out = game changing moment, the 2 epilepsy programs are golden, and Alzheimer’s third program is going to get money thrown at it. Market is sleeping on what this truly means. One of the most important days in clearpoint history.
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BullishDoctor retweeted
$QURE presented at NORD on April 14. There was a nugget in that presentation that I found very interesting and what it means for the incoming CBER director. Free article below. botn.bio/p/an-important-nugg…
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BullishDoctor retweeted
$clpt Neurona Interesting early abstract, more data on the 22nd The first bilateral MTLE subject treated with NRTX-1001 achieved seizure freedom and continues to be seizure-free at 6 months (time of abstract submission). These data, and data for additional subjects treated, will be presented at the conference. @peter_mantas @biggercapital @NeuroStockDoc index.mirasmart.com/AAN2026/…
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BullishDoctor retweeted
$qure Listen to Sarah Tabrizi explaining AMT-130 and how two patients went back to work. Please share and retweet. This was last week at the Samuel Gee lecture.
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BullishDoctor retweeted
🤔From the FDA's public calendar: On Mar 3, 2026, FDA Commissioner Makary met with "Arnold Ventures representatives" at FDA headquarters in Silver Spring, MD. Multiple FDA staff attended. [1] | Subject: "Collaboration Opportunities" Here's what was happening that same week: — $XBI $QURE #FDA
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BullishDoctor retweeted
This is how an @HHSGov / @US_FDA official speaks in public. Imagine the conversations and behaviors internally. Meanwhile, as they stonewall a promising therapy in AMT-130, Christina's father continues down the painful path of Huntington's disease. I suppose Christina's family must deserve it – because they're part of the "swamp." The "swamp" Nixon is referring to includes the ~48,000 individuals from the Huntington's community behind the two petitions delivered to the FDA. Petitions the FDA did not even review. @SenGillibrand | @lukaske @SenRickScott | @ClareLattanze @SenRonJohnson | @GraceCarnathan @RepAuchincloss | @GeorginaBurros It doesn't have to be this way. You have thousands of bipartisan constituents watching proudly of the actions you've taken so far. The latest being the press conference on Mar 10th that @SenRonJohnson held. For the sake of Christina and the millions of rare disease patients, keep going.
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JUST RELEASED: Episode 17 - Market Stoplight Session of Shooting The Bull Pod with Drowsy and @investing_bear This week’s: Green Light - Reddit $RDDT Yellow Light - Nebius $NBIS Red Light - SpaceX IPO & $ASTS open.spotify.com/episode/3B3…
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New from me on $QURE and FDA. Free, no paywall. The FDA, urged to avoid controversy, creates a new headache with attack against UniQure Anonymous diatribe from a senior official plunges agency back into headlines statnews.com/2026/03/06/fda-…
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BullishDoctor retweeted
My letter to the @SenateAging, @SenRickScott, @SenGillibrand on the FDA's recent FDA's handling of AMT-130 for Huntington's disease. The same day the FDA called it a 'failed product', the UK Government officially called it a breakthrough. The HD community deserves better.
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BullishDoctor retweeted
$qure another point that many get wrong: The Co is/was prepared to conduct a larger study; it did not expect to see promising data so early... ...in fact the FDA spotted it with them and awarded RMAT. uniQure then followed the agency's advice only to have the goal post shifted afterwards. That is the issue, not the details around what would be an ethical control group, or that the Co does not believe per se that a confirmatory study is (financially) feasible.
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BullishDoctor retweeted
New Article Some of the biggest returns can come from turnarounds at the time of management change. These times are normally at peak disappointment and despair. microcapclub.com/from-disast…
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BullishDoctor retweeted
$clpt and catalysts Been hearing a lot of talk about catalysts lately, you do have to remember that before July 24 and even Dec 24 most investors in Clearpoint would have likely said Uniqure’s amt 130 program would likely have to do a phase 3. So even most people that follow the company closely would not have expected that catalyst to be a likely thing in such a quick time frame. Most of us would have said the likely earliest this could be in commercial would be 3-5 years. That is what makes this whole, “waiting for a catalyst difficult,” because the catalyst can come out of left field. When you are in so many different human trials you don’t know which one will succeed. My experience with the partnership model has taught me that usually the one that creates the most value is the one that isn’t on anyone’s radar. The company might not even realize it yet either. Altius minerals is a good example of the partnership model where your next big win wasn’t stuff that you would have predicted ahead of time. We all know the big programs, but there are also a lot of programs we don’t know even know about. Another good example is Rgx 121, not a huge drug but once again, the first time that most clearpoint investors heard of the program was when they were filing the bla. That is beyond far down the road yet we as investors didn’t even know we were partners in that. It is a good example of we truly don’t know everything Clearpoint is involved in. I’m pretty confident there are programs that are pretty far along also that haven’t been announced. Due to the type of contracts and agreements that is just the way it is. Once “the catalyst” happens the price spikes quickly and most people miss it. It’s hard to get on a moving train. I rather be in before the catalyst when I know there is a decent probability that a catalyst hits in the next 12-24 months, you just don’t know exactly which one hits.
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$TWST is -43% YTD, -73% over 5 yrs. But I often hear $TWST being mentioned (unprompted) as the BEST in what they are doing - long DNA synthesis. W/ ~$400m annual rev growing @ ~20%, $TWST would go for 10-12x rev in a bake-off. $DHR & $TMO would fight to death 4 this platform
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BullishDoctor retweeted
This is a good deal for the space and for related picks and shovels (eventually) $RNA $TWST $MRVI etc
1/🚨WOW! Novartis just announced that it is acquiring Avidity Biosciences and its entire new class of pioneering RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs) for the treatment of neuromuscular diseases. $NVS will pay $72 per $RNA share in cash - representing a premium of 46% to the closing share price on 10/24/25 and valuing the entire deal at $12B!! $XBI
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BullishDoctor retweeted
That’s all well and good but I think it’s fair to suggest that loosely, $CLPT may be to $QURE and others what $NVDA is to hyperscalers. When your high margin business must flow through a certain tech stack, you give up a big chunk of that margin to the tech and you do so happily.
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BullishDoctor retweeted
$clpt Heck of a couple weeks here guys, some people don’t ever get these type of runs in a lifetime so truly take some time and be grateful. I tip my hat to Joe and the clearpoint team, they did all the hard work, we just got on the ride, did the work and held on during the tough times. To the outside world, clearpoint’s run looks like an overnight success but they have been working on this for decades, it has just come to light now. No idea what next week brings, they could raise, could drop 30 percent for all I know, but enjoy the weekend and congratulations to everyone. Stay humble because anything can happen in this game, respect everyone on their decisions to trim, sell or do what they like, well earned to clearpoint shareholders.
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