Black Powder
Macro environment - long recession.
Defensive sector - biotech
Industry
Oncology related play are the best performer.
Mega merger ending.
Moving toward replenishing pipeline.
TLN
External validation of K-Ras unmet medical need.
Waiting for the powder to ignite
One possible catalyst: PII efficacy results for 4601
Other potential upside
Shigamabs partnership deal
Sales of 20% caprion stake