2025 Biotech Recap & Set Up For 2026

Today's episode is brought to you by scientist.com, the life science industry's leading R and D orchestration platform. Scientist.com gives researchers instant access to thousands of pre vetted suppliers, saving time, reducing costs, and accelerating innovation. Hi. I'm John Galliano, senior director of BioPharm Catalyst. Hello. I'm Chef, known as Chef Station, a twenty year vet in trading biotech stocks. And this is biotech bulls and breakthroughs. Biopharm Catalyst is not a registered investment advisory firm, and the views on this podcast are not intended to be financial advice. Guests on this podcast may hold the stocks discussed in personal or other investment accounts. This content is for informational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions. Good morning, good afternoon, good evening, depending on when you're you're listening from. Welcome once again to another episode of biotech bulls and breakthroughs. Today is, Tuesday, December 9, and we're very excited to have chef on again for what is going to be, I guess, the last, you know, the last catalyst watch list and sort of recap of, 2025 and the last episode that we're doing this year. So, you know, it's been a been a great year with you, chef, and, thanks so much for being on again, and thanks for everything that you've done this year for us. Absolutely. It's been it's been wonderful, John. I mean, just to have the opportunity to talk about the different landscape with regards to the biotech and pharma and how this year has just been, you know, a plethora of activity involving mergers, involving a lot of money, biotech inflow coming in, small cap and mid cap companies really playing a part, and how that's gonna, matriculate into next year, I think, is gonna be significant and important for 2026. Yeah. Absolutely. And, you know, as as always, you know, there's there's so much to talk about. Obviously, we've got JPMorgan coming up in a couple of weeks to sort of set the stage for 02/2026. But I guess just, you know, one of the things that I like to do, obviously, just given that we are at at year end is just get your thoughts on overall how the year went, whether that is, you know, from from a a macroeconomic standpoint, or just from individual trades, biotech in general? How did you feel 2025 was, and what were some of the key the highlights and or, you know, it can also be negatives that, that you you found in 2025. I thought that, you know, 2025 went really well because we started to see a lot more clarity from the FDA. We started to see, you know, we started to see more consistency with the agency and how they were handling, complete response letters. A lot more clarity for investors in terms of what specifically was in those letters that led to a CRL and how companies were working …