BBHIC 2019, Day 1: Notes from the Floor

Day one of the Bloom Burton & Co. Healthcare Investor Conference (BBHIC) has officially wrapped up and the start of the annual show proved to be another roaring success. 

Now in its eighth year, the conference started at 9:30 a.m. EDT with the markets opening for the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV).

In his opening speech, Brian Bloom, CEO and co-founder of Bloom Burton & Co., said that at least 600 investors and more than 1,000 attendees from Canada, the US and Europe came to the conference, making this year the biggest gathering yet.

Following the opening bell, company presentations, one-on-one prescheduled meetings and a panel discussion on investing in commercial-stage healthcare companies all took place.

The Investing News Network (INN) team was there at the show, conducting interviews and attending presentations and, of course, the panel discussion.

If you missed the show, don’t worry — we’ve got your BBHIC day one coverage right here.

Get ready! #BBHIC2019 is starting today and the Investing News Network team is here. Follow us along with the hashtag #INNatBBHIC pic.twitter.com/Zj44Xz5HPw

— INN Life Science (@INN_LifeScience) April 30, 2019

Brian Bloom giving his opening remarks #BBHIC2019 #INNatBBHIC pic.twitter.com/fpIV9HcnZr

— INN Life Science (@INN_LifeScience) April 30, 2019

As noted above, the conference started with the markets opening for the TSX and TSXV.

And the market is officially open for April 30, 2019 #BBHIC2019 #INNatBBHIC pic.twitter.com/oVwXbnWa4h

— INN Life Science (@INN_LifeScience) April 30, 2019

Brian Bloom opens the 10th annual #BBHIC2019 conference #Toronto. Andrew Duckman @bloomburton opens @TMXGroup markets live today. A warm welcome from Canada’s health investment community. Great to be part of the action! @Yeghealthcity @CityofEdmonton @cityoftoronto @doniveson pic.twitter.com/pvPPB116Dl

— Reg Joseph (@Reg_Joseph) April 30, 2019

Following market open, company presentations immediately began, including one by Zymeworks (TSX:ZYME,NYSE:ZYME) CEO Ali Tehrani.

$ZYME CEO Ali Tehrani. Bi-specific and multi-specific antibody company. Partnering with just about everyone. #BBHIC2019 pic.twitter.com/nnZfomFqdh

— Brad Loncar (@bradloncar) April 30, 2019

$ZYME clinical development timeline #BBHIC2019 pic.twitter.com/H4fKqlZpvS

— Joe (@GantosJ) April 30, 2019

Packed room for @ZymeworksInc at #BBHIC2019 where 2019 Priorities, 2018 highlights & how its novel platforms enable first & best-in-class multi-functionals was discussed. @bloomburton #healthcare #innovation #biotherapy #biopharma #oncology #cancer #healthcare #lifesciences pic.twitter.com/T2RbGMYimE

— Lumira Ventures (@LumiraVentures) April 30, 2019

Another notable presentation in the morning half of the conference came from Oncolytics Biotech (TSX:ONC,NASDAQ:ONCY).

Oncolytics Biotech $ONC presenting at #BBHIC2019 #INNatBBHIC pic.twitter.com/5pZ4lrlwaV

— INN Life Science (@INN_LifeScience) April 30, 2019

$ONC to start a phase 2 trial with $MRK #BBHIC2019 #INNatBBHIC pic.twitter.com/GxsHrnTp4Y

— INN Life Science (@INN_LifeScience) April 30, 2019

Between 12:30 p.m. EDT and 1:30 p.m. EDT, the day was split with a panel discussion called “Investing in Commercial-stage Healthcare Companies,” which was moderated by Bloom himself and featured several noteworthy panelists.

Our panel on Investing in Commercial-Stage Healthcare Companies is on #BBHIC2019 pic.twitter.com/y3GxcvmzUI

— Bloom Burton & Co (@bloomburton) April 30, 2019

Sumner Anderson from Deerfield, Cecilia Gonzalo from Oberland Capital, 1315 Capital Co-founder Adele Oliva, JW Asset Management President and Chief Investment Officer Jason Wild and Chris York, co-head of MidCap’s Life Science and Technology Finance Group, participated in the one hour discussion.

Panel on Investing in Commercial Stage Health Care Companies about to begin #BBHIC2019 #INNatBBHIC pic.twitter.com/wFBVwARIvO

— INN Life Science (@INN_LifeScience) April 30, 2019

Investor Panel: investing in Commercial-Stage Healthcare Companies ⁦@bloomburton⁩ #BBHIC2019 is about to begin. pic.twitter.com/z4ok8ojxiU

— Andy Donovan, CFRE (@AndyDonovanCFRE) April 30, 2019

The first question asked was about Scott Gottlieb’s tenure as US Food and Drug Administration (FDA) commissioner, a position he held for two years before stepping down earlier this month.

Thoughts on Scott Gottlieb’s role as FDA commissioner for the last two years: hard pressed to find problems,” Chris York of MidCap Life Science and Technology finance group says #BBHIC2019 #INNatBBHIC

— INN Life Science (@INN_LifeScience) April 30, 2019

#BBHIC2019 panel on investing in commercial stage #healthcare companies – interesting discussion on @SGottliebFDA’s impact on #biotech, rising healthcare costs, and more pic.twitter.com/finK2qL7Wy

— Michael Wong (@aMichaelWong) April 30, 2019

Naturally, no panel discussion would be complete without discussing drug prices, particularly in the US.

In terms of drug pricing, Adele Oliva says there is a “massive need” in the US to contain costs #BBHIC2019 #INNatBBHIC

— INN Life Science (@INN_LifeScience) April 30, 2019

However, one of the hottest talking points was specialty pharma companies, a subject on which Wild did not shy away from expressing his opinion.

Jason Wild of JW Asset Management sees a bleak environment for spec pharma today. Says there are a lot more opportunities on the short side than the long side. #BBHIC2019 pic.twitter.com/aOQydvXlI8

— Brad Loncar (@bradloncar) April 30, 2019

Jason Wild discusses what’s going on in specialty pharma and where the opportunities lie #BBHIC2019 pic.twitter.com/jY1760ewU8

— Bloom Burton & Co (@bloomburton) April 30, 2019

In terms of specialty pharma, Jason Wild says most launches aren’t successful and it’s difficult to get insurance companies to pay for these items. Penalties also are given out if prices increase #BBHIC2019 #INNatBBHIC

— INN Life Science (@INN_LifeScience) April 30, 2019

In terms of opportunities, Wild says “most are on the short side.” #BBHIC2019 #INNatBBHIC

— INN Life Science (@INN_LifeScience) April 30, 2019

Once the panel discussion concluded, company presentations in the afternoon resumed. Of note, Nuvo Pharmaceuticals (TSX:NRI,OTCQX:NRIFF) provided an update on its migraine treatment and answered a question on its struggling stock performance.

Nuvo Pharmaceuticals #NRI giving a presentation on its migraine treatment #BBHIC2019 #INNatBBHIC pic.twitter.com/1TW1fvqFSo

— INN Life Science (@INN_LifeScience) April 30, 2019

Question on its stock performance and why it’s not performing well—need to get out and have discussions, create awareness and interest in the stock $NRI #BBHIC2019 #INNatBBHIC

— INN Life Science (@INN_LifeScience) April 30, 2019

The final company presentation INN attended was from Correvio Pharma (TSX:CORV,NASDAQ:CORV), which provided pivotal highlights for its product line.

David Dean, chief development officer of Correvio Pharma, presenting the company’s product line #BBHIC2019 #BBHIC $CORV pic.twitter.com/1nzmO4UENO

— INN Life Science (@INN_LifeScience) April 30, 2019

The company’s candidate, TreVyent is not yet approved in the US. #BBHIC2019 #INNatBBHIC $CORV pic.twitter.com/HgDsFksb24

— INN Life Science (@INN_LifeScience) April 30, 2019

Brinavess is moving back towards an NDA to the FDA $CORV #BBHIC2019 #INNatBBHIC pic.twitter.com/O9xs0pmn07

— INN Life Science (@INN_LifeScience) April 30, 2019

85 percent of people who received Brinavess avoided hospitalisation $CORV #BBHIC2019 #INNatBBHIC

— INN Life Science (@INN_LifeScience) April 30, 2019

The Chinese FDA has put Brinavess on the “must need list,” which could be approved in the near term. #BBHIC2019 #INNatBBHIC $CORV

— INN Life Science (@INN_LifeScience) April 30, 2019

Stay tuned for our coverage of the second day of the show and after the event, including several noteworthy interviews. In the meantime, you can follow us @INN_LifeScience for live updates throughout the course of the conference, as well as the hashtag #INNatBBHIC.

Don’t forget to follow us @INN_LifeScience for real-time news updates

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.