"Patience is a Super Power" - "The Money is in the waiting"

Friday, July 18, 2025

Butterfly Network's unique, patented Ultrasound-on-Chip™ technology is a game changer in medical Ultrasound technology!

 



Investment Report: Butterfly Network, Inc. (NYSE: BFLY)

Date: July 18, 2025
Sector: Medical Devices / Digital Health
Market Cap: ~$500M
Stock Price: $1.87 USD

๐Ÿ”ฌ Company Overview

Butterfly Network, Inc. develops, manufactures, and commercializes handheld ultrasound imaging devices powered by its patented Ultrasound-on-Chip™ technology. Its flagship product, Butterfly iQ+, connects to a smartphone or tablet to deliver high-quality, portable, real-time imaging. This makes diagnostic ultrasound affordable and accessible at the point-of-care, from rural clinics to advanced hospitals.

  • Founded: 2011 (by Dr. Jonathan Rothberg)

  • Headquarters: Burlington, MA

  • Mission: To democratize medical imaging globally through portable, AI-enhanced ultrasound

  • Patents: 450+ (ultrasound chip design, AI diagnostics, portable imaging workflows)


⚙️ Technology Edge

Butterfly Network’s innovation lies in the integration of semiconductor-based ultrasound imaging into a single silicon chip—a departure from traditional piezoelectric probe design. This enables:

  • Lower cost vs. cart-based ultrasound machines

  • Wider access in rural/emerging markets

  • AI-powered diagnostic assistance (Auto B-line, Cardiac AI, Auto Bladder Volume, etc.)

  • Seamless cloud-based image storage and collaboration via Butterfly Cloud

Notable Advancements (2024–2025):

  • Pulse Wave Doppler launched for cardiac diagnostics

  • Needle Viz™ for improved ultrasound-guided injections

  • Partnership with Forest Neurotech (OpenAI-backed) to integrate Butterfly into brain health research

  • Expanded use of AI-guided protocols and automated image analysis

  • BFLY holds 450 patents in this technology


๐Ÿค Strategic Partnerships & Clients

Clients:

  • Hospital systems (Cleveland Clinic, Mount Sinai Health)

  • U.S. Department of Veterans Affairs (VA health system adoption)

  • Global health orgs (Doctors Without Borders, Bill & Melinda Gates Foundation)

Recent Partnerships:

  • Telemedicine Integration: Butterfly is embedding its technology with telehealth platforms for remote consultations

  • AI research collaborations with academic institutions (e.g., Harvard Medical, UCSF)

  • Governmental & NGO use in maternal health in Africa, trauma triage, military field hospitals


๐Ÿ“ˆ Growth Prospects

Butterfly Network is positioned to benefit from:

  1. Global ultrasound market expansion (~$10B+ TAM, growing ~5–7% CAGR)

  2. Shift to portable diagnostics in primary care, EMS, and low-resource settings

  3. AI-driven clinical workflows, supporting better triage, faster diagnoses

  4. New product pipeline for multi-modal imaging, including remote monitoring

Near-Term Catalysts (H2 2025):

  • Continued double-digit revenue growth (>20% YoY)

  • Expansion of SaaS/cloud recurring revenue

  • FDA clearances for new AI modules (in review)

  • More commercial wins in Latin America, Southeast Asia


๐Ÿ’ฐ Financial Snapshot (Q1 2025)

MetricValue
Revenue$20.1M (+20% YoY)
Gross Margin~63%
Cash & Equivalents$155M
Debt$0
Net Loss-$22M (but narrowing losses YoY)
Runway~4.5 years of cash at current burn rate

Butterfly aims to achieve cash flow breakeven by 2027, supported by increasing margins and SaaS revenue growth.


๐Ÿง  Leadership & Founding Vision

  • Founder: Dr. Jonathan Rothberg (serial biotech inventor – Ion Torrent, 454 Life Sciences)

  • CEO: Joseph DeVivo (former InTouch Health, Teleflex)

  • Board: Includes former Google Health and Medtronic executives

Their leadership emphasizes scale, access, and AI-first imaging.


๐Ÿ’ผ Acquisition Potential

Due to its low valuation and disruptive tech, Butterfly is a prime takeover target. Potential acquirers:

CompanyStrategic Fit
PhilipsAdds mobile devices to imaging suite
GE HealthcareExpands POCUS (Point of Care Ultrasound) leadership
Siemens HealthineersComplements AI ambitions
MedtronicTies to its surgical/navigation platforms
Canon MedicalGains U.S. ultrasound presence

No firm offers reported yet, but analysts expect interest in H2 2025.


๐Ÿง  Analyst Consensus & Valuation

  • Analyst Target: $3.50–$4.00 (vs. $1.87 current)

  • Upside Potential: ~90%+

  • Valuation: Forward Price/Sales ~4x is low for medtech with 60%+ margins

  • Risk factors: Regulatory, adoption pace, competitive response (e.g., Clarius, Philips Lumify)


๐ŸŸฉ Investment Thesis: Buy or Hold?

Buy Case

  • Unique tech, defensible IP, and strong brand

  • High gross margins, recurring SaaS growth, zero debt

  • Proven leadership and credible clients

  • Long-term trend toward decentralized imaging

  • Potential M&A premium

⚠️ Risks

  • Still unprofitable; cash burn ongoing

  • Competition from larger firms entering handheld imaging

  • Regulatory hurdles for AI software modules

Hold Case

If already holding BFLY, the risk-reward remains attractive for long-term upside or buyout scenario. Upcoming Q2 results (Aug 2025) may serve as a catalyst.


๐Ÿ“Œ Final Verdict: 

Butterfly Network represents a rare small-cap medtech with:

  • Disruptive, scalable tech

  • Growing real-world clinical adoption

  • Multiple future monetization paths (B2B, AI SaaS, cloud, global health)

It’s early in a transformative curve and priced below fair value. Investors looking for asymmetric upside in digital health should consider a position, especially before any M&A headlines.

  1. ED Note:  We recently added BFLY to our Bio Tech portfolio

Wednesday, July 16, 2025

PHAGE Therapy is on the cutting edge of Bio Technology. How can a small, retail investor gain some exposure?

 Forward:

Phage biotechnology is based on using bacteriophages—often just called phages—which are viruses that infect and kill bacteria.

In simple terms:

Think of phages as nature’s microscopic assassins for bacteria. They’re like guided missiles that target only specific bacteria, without harming human cells or good bacteria in your body.


How does phage technology work?

  1. Targeted Killing:
    Phages are super picky. Each phage only attacks certain types of bacteria—like a key fitting a lock. This makes them perfect for killing bad bacteria (like those causing infections or diseases) without damaging good ones.

  2. Self-replicating:
    Once inside the harmful bacteria, phages multiply and burst the bacteria open, killing it. Then the new phages move on to attack more bacteria. This natural cycle continues until the infection is gone.

  3. Alternative to antibiotics:
    Because antibiotic resistance is becoming a huge problem, scientists are looking at phages as a new way to fight infections, especially the ones that antibiotics can no longer treat.


What is phage biotechnology used for?

  • Medicine: Treating hard-to-cure bacterial infections (even superbugs).

  • Gut health: Modifying or rebalancing gut bacteria for diseases like Crohn’s or IBD.

  • Agriculture: Replacing chemical pesticides with phages to kill harmful bacteria on crops or animals.

  • Food safety: Killing bacteria like Salmonella or E. coli in meat or dairy.


In short:

Phage biotechnology uses naturally occurring viruses to precisely attack and destroy harmful bacteria. It's a highly targeted, natural alternative to antibiotics, and it holds huge promise in healthcare, agriculture, and beyond.


๐Ÿ”ฌ BiomX - A Company Overview & Pipeline

PHGE (BiomX Inc.) is a clinical-stage biotech pioneering phage therapy—using viruses that selectively target harmful bacteria. Their lead programs:

  • BX211: Treating diabetic foot osteomyelitis (DFO). Phase 2 results (Q1 2025) showed statistically significant reductions in ulcer size/depth in S. aureus infections. FDA feedback is pending for a Phase 2/3 trial 

  • BX004: Treating Pseudomonas aeruginosa infections in cystic fibrosis (CF). Phase 1b/2a (2023) showed safety, meaningful bacterial load reduction, and improved lung function in key subgroups  A prestigious peer-reviewed article in Nature Communications (July 8, 2025) reported ~500‑fold bacterial reduction with no resistance  randomized Phase 2b trial is ongoing, topline data expected Q1 2026 BiomX,.

Recent acquisitions and funding:

  • Acquired Adaptive Phage Therapeutics in March 2024 (raised $50 M) to build a broader phage pipeline GlobeNewswire+12.

  • Additional $12 M in financing (Feb 2025), with $21 M in cash as of March 31, 2025—providing runway into Q1 2026 when major catalysts arrive Stock Titan+2.


๐Ÿงฌ Key Catalysts & Risks

Upcoming catalysts:

  • Topline Phase 2b results for BX004 in CF (Q1 2026)

  • FDA meetings in H2 2025 possibly using real-world evidence

  • Phase 2/3 trial planning for BX211 (DFO)

Analyst sentiment:

A Laidlaw analyst called BX211 a “high value and clinically de‑risked asset,” projecting potential 3,000% upside, supported by large markets (~$2.5 B DFO, $1.6 B CF) and weak competition Nasdaq.

Risks:

  • Biotech/penny stock volatility

  • High cash burn: net loss of $7.7 M in Q1 2025; runway only through Q1 2026 without additional capital Stock Titan+2.

  • Regulatory/completion risk—late-stage trial results and FDA clarification are critical.


⚖️ Is PHGE a Growth Story?

๐Ÿ‘ Potential Upside:

  • Strong clinical data in two distinct programs

  • FDA Fast Track & Orphan Drug designations for BX004

  • Third-party validation (Nature paper)

  • Upcoming catalysts could significantly re-rate the stock

๐Ÿ‘Ž Key Concerns:

  • Cash runway is limited—risk of dilution

  • Trials can fail or be delayed

  • Regulatory acceptance of novel therapies like phage is still evolving


๐Ÿ›  Investment Takeaway & Strategy

If you're seeking high-risk, high-reward opportunities:

  • PHGE offers early exposure to a promising novel therapy platform.

  • Timeline for potential upside centers on Q1 2026. Expect volatility along the way.

  • Consider a small “clinical-stage biotech” allocation—be prepared for dilution and trial risk.

If you prefer more stable growth with lower binary outcomes, this may not align—this is very much a speculative biotech play.


✅ Next Steps

  • Track PHGE’s cash position and financing news (likely second half of 2025).

  • Watch for FDA feedback on BX211 and regulatory clarity around real-world data for BX004.

  • Monitor trial enrollment and any interim readouts—especially for safety signals.


Summary: PHGE is a speculative but compelling small‑cap biotech. Clinical momentum, strong data, and upcoming catalysts suggest it could leap if trials continue delivering. But with tight cash and biotech risk, it’s best suited for an investor comfortable with volatility and dilution. 


๐Ÿ•ต️‍♂️ Is PHGE a Potential Takeover Target?

๐Ÿ” Market Context & Strategic Fit

  • Phage therapy niche: BiomX leads in clinical-stage bacteriophage therapeutics—an innovative but nascent field with few competitors. This unique positioning can attract larger pharma aiming to diversify into microbiome or antimicrobial technologies.

  • Clinical momentum & data: Two Phase 2 programs showing promising results (BX211 in diabetic foot osteomyelitis, BX004 in cystic fibrosis) plus recent peer-reviewed validation signal low-hanging fruit for biotech buyers. biopharmaboardroom.com+15

  • Tight balance sheet: PHGE holds ~$21 M in cash (runway into H1 2026) and financed by institutions like Deerfield, CF Foundation, OrbiMed—suggesting they’d be open to partnering or acquisition to fund late-stage trials. 

๐Ÿงญ Risk/Reward Perspective for Acquirers

Why big pharm might be interested:

  • Accelerate antibiotic/patient portfolios: As antibiotic resistance becomes a global health issue, phage therapy offers a complementary or alternative angle to traditional antibiotics.

  • De-risked entry: With multiple Phase 2 assets and clinical safety data, acquiring PHGE means avoiding early-stage risks and owning a late-stage pipeline.

  • Platform scalability: PHGE’s BOLT system (bacteriophage bank and lead-to-treatment) provides a scalable tech stack for rapid custom phage development—attractive to platform-focused biotech or pharma.

Potential acquirers:

  • Mid-to-large pharma with infectious disease units (e.g., Pfizer, GSK, Roche) may seek novel therapies to counter antimicrobial resistance.

  • Innovative biotech with complementary pipelines (e.g., Synthetic Biologics, Armata, or established CDMO-focused companies) could buy for platform enhancements.

  • Private equity/strategic consortiums, partnering once Phase 2 data are announced, could bridge financing gaps ahead of Phase 3 or commercialization steps.


๐Ÿ—“️ Timing & Triggers

Stock catalysts that could set stage for M&A interest:

  • Q1 2026 BX004 readout in CF – a positive viral clearance signal could significantly raise interest.

  • Mid-2025 FDA feedback on real-world evidence pathway—if regulatory acceptance emerges, there is better clarity for investors and potential acquirers. Cystic Fibrosis News Today

  • BX211 initial Phase 2 resolution (Q1 2025 results) already showed ulcer healing signals—this could serve as early validation that entices buyers. Fierce Biotech


⚠️ Risks That Could Deter Acquirers

  1. Negativity in trials: Any safety or efficacy setbacks in late-stage trials could derail valuation.

  2. Platform scalability concerns: Even with a promising lead, proving phage therapy production, regulation, and market acceptance remains uncharted.

  3. Fund and share dilution risk: Ongoing funding needs could delay acquisition if investors are unwilling to cover costs pre-deal.


✅ Conclusion

PHGE fits a classic “acquisition mothership” profile:

  • Novel, differentiated technology (phage therapy)

  • Demonstrated value via Phase 2 data and peer-review

  • Limited runway suggesting funding needs—potential buyer relief

Likely Buyers:

  • Pharma companies expanding antimicrobial and biologics pipelines

  • Biotech firms focused on microbiome / bacteriophage platforms

  • Financial investors/consortiums positioning for late-stage monetization

PHGE may remain under the radar until key Phase 2 or FDA milestones. After positive readouts, acquisition activity could ramp up quickly.


๐Ÿ“Œ What to Monitor

  • BX211 & BX004 trial news – especially therapeutic wins or regulatory signals.

  • Potential M&A or partnering chatter during BX004’s Q1 2026 topline readout.

  • Strategic moves in the phage space (e.g., financing/partnerships by similar firms) that could hint at consolidation.


Bottom line: Yes—PHGE looks fairly prime as an acquisition or partnership target, especially if its Phase 2 programs continue to deliver positive data. It combines novel tech, clinical validation, and tight cash—elements that larger players seeking differentiation often find attractive. Keep an eye on trial readouts and FDA positioning as potential M&A triggers.

Ed Note:

 PHGE seems to be the only viable avenue for a small investor to acquire a small position in this cutting edge, Biotech Therapy as the only other viable company (in my opinion) is not yet publicly traded. Here’s a comparison 


1. BiomX (PHGE)Clinical-stage with dual Phase 2 programs

  • Strengths: Two Phase 2 assets (BX211 for DFO; BX004 for CF) with positive results and peer-reviewed validation. Unique BOLT system for rapid phage customization. Recent capital raise plus acquisition of Adaptive Phage gives near-term readouts (BX211 Q1 2025, BX004 Q3 2025) Fierce Biotech+15BiomX, Inc.+15Stock Titan+15.

  • Risks: Limited cash runway into early 2026, dependency on further financing, and typical trial/regulatory execution risks.


2. Locus Biosciences – CRISPR-enhanced phage therapies (private)

  • Strengths: Advanced CRISPR-Cas3 phage platform (e.g., LBP‑EC01 in Phase 2 for UTIs), strong partnerships (J&J / BARDA), backed by deeper funding and multiple programs Wikipedia.

  • M&A profile: High-profile pharma interest—already has a strategic deal with Janssen ($818M upfront/milestones). Ideal fit for pharma looking to integrate gene-editing/phage combo tech.


๐Ÿ”‘ M&A Implications

CompanyClinical StageStrategic StrengthAcquisition Appeal
PHGEPhase 2 dual trialsBOLT + proven dataReady for pharma (Pfizer, Roche, GSK) looking to fast-track phage programs
LocusPhase 2 CRISPR-phageGene-editing + strong backingHigh-value platform, appealing to big pharma (e.g., Janssen)

๐Ÿงญ Where PHGE Stands Overall

  • Ahead in clinical: Dual Phase 2 assets outperform most peers still in early development.

  • Strategic platform: BOLT system enhances scalability—rare in the field.

  • M&A timing: PHGE becomes especially compelling post-BX004 topline (Q1 2026).

  • Likely buyers: Mid-to-large pharma in anti-infectives; biotech platform acquirers; possibly private equity consortiums looking to wait until a pivotal data inflection.


๐ŸŽฏ Bottom Line

PHGE is well-positioned among phage therapy contenders:

  • It outpaces many peers in clinical validation.

  • Its platform and data-driven approach boost its attractiveness.

  • It aligns well as a takeover target post-Q1 2026 data, particularly for pharma seeking antimicrobial innovation.

Compare that with:

  • Locus—highest tech sophistication and strategic deals.

  • Intralytix—lower clinical risk but primarily in food/animal markets.

  • Other preclinical players—speculative, earlier-stage.


๐Ÿ“Œ Key M&A Triggers to Watch:

  • Final Phase 2a/2b results for BX004 (CF) – early 2026

  • FDA regulatory pathway updates (especially around real-world evidence)

  • Partnerships or pharma interest hints in H2 2025


Locus Biosciences is not publicly traded at this time—it’s a privately held company that hasn’t launched an IPO on any major stock exchange GlobeNewswire

๐Ÿšซ Key Details:

  • It's still in private ownership, with funding via venture rounds and government/non-profit grants like those from BARDA, CARB‑X, Tencent, Viking, etc. Locus Bioscience+5Wikipedia+5Locus Bioscience+5.

  • No ticker symbol exists, and shares are only tradable on secondary marketplaces (e.g., Hiive) by accredited or institutional investors Hiive+1Nasdaq Private Market+1.

  • Its most recently reported valuation from May 2022 (Series B round) was around $230 M post–money, with shares valued at ~$19/sh Hiive.


โ„น️ What This Means for You:

  • Retail investors can't directly buy Locus stock right now.

  • If you're interested in early-stage phage therapy plays, your options (for public investing) remain PHGE (BiomX) and (maybe) other public small-caps.

  • You might monitor Locus for any future IPO or public offering if you're keeping tabs on the broader phage therapy sector.

  • ED Note:  Full disclosure: We bought a small position this week at .38c PS

Tuesday, July 15, 2025

An updated report (as of July 15 2025) on Beam Therapeutics (NASDAQ: BEAM):

 



๐Ÿ”ฌ 1. Technology Advances & Pipeline

  • Base editing leadership: Beam continues refining its precision base editing platform, enabling single-base modifications without DNA breaks—a safer alternative to traditional CRISPR/Cas9 

  • Key programs

  • BEAM‑101 (sickle cell disease): BEACON Phase 1/2 trial—26 patients dosed; all reported > 60% HbF and < 40% HbS with durable response up to 15 months; safety consistent with busulfan conditioning 

  • BEAM‑302 (AATD): IND cleared March 2025; RMAT designation granted May 2025. 60 mg cohort showed durable base-editing with therapeutic AAT levels (12.4 ยตM) and Z-AAT reduction ~78%

  • BEAM‑301 (GSD Ia): Dosing initiated Q1 2025; preclinical data support metabolic correction in animal models 

  • Platform extensions: ESCAPE non-genotoxic conditioning and pipeline expansions into CAR‑T (BEAM‑201) and eye, liver genetic targets


๐Ÿฅ 2. FDA Approval Horizon

  • BEAM‑101: Orphan Drug Designation granted June 2025; pivotal Phase 1/2 readout expected H2 2025 at EHA; BLA filing potential in 2026 if data confirm benefit and safety 

  • BEAM‑302: RMAT status enables accelerated development; next data update for dose-escalation cohort expected H2 2025; Part B (liver subgroup) also in H2 2025 

  • BEAM‑301 & ESCAPE: Phase 1 for GSD Ia and ESCAPE conditioning expected in late 2025 or 2026—these will broaden indication portfolio.


๐Ÿฆ  3. Diseases Addressed

  • Sickle Cell Disease (SCD): One-time, potentially curative therapy—addresses root cause via fetal hemoglobin induction.

  • Alpha‑1 Antitrypsin Deficiency (AATD): Base editing corrects PiZ mutation—targets both liver and lung disease where current therapies are protein replacements only.

  • Glycogen Storage Disease type Ia: Preclinical in vivo data indicate potential for metabolic correction after a single administration.

  • Cancer & Beyond: Preclinical work in CAR‑T and ocular or hepatic genetic diseases, showing platform versatility.


๐Ÿ’ฐ 4. Financials

  • Cash position: ~$1.2 billion as of Q1 2025, including $500 million public raise—runway likely into 2028 supporting key catalysts 

  • Burn rate: Q1 R&D spend ~$98.8 M, net loss ~$109 M—no revenues yet; manageable given cash reserves Stock Titan.

  • Analyst sentiment: 11 Buy, 2 Strong Buy, 2 Hold; average target ~$48.75 (range $26–$75+) MarketBeat.

  • Institutional backing: GAMMA Investing boosted awareness; over 99% public float held by institutions .


๐Ÿค 5. Partnerships & Acquisitions

  • Pfizer collaboration (since 2022): Multi-target in vivo base editing alliance.

  • Early-stage acquisition (July 1, 2025): Acquired a life sciences firm via 403,128 BEAM shares + up to $89 M in milestones—strengthens platform & pipeline BioSpace

  • Past deal: Verve/Lilly option monetization included $250 M upfront—padding runway and showing tech licensing potential .


๐Ÿ” 6. M&A Considerations

  • Takeover potential: With transformative in vivo capabilities and FDA RMAT designations, BEAM is an attractive target

  • Expect interest from Pfizer (existing partner) or large pharmas like Roche, Novartis, Regeneron.

  • Strategic fit: Platform complements existing gene therapy portfolios; acquisition could occur post-positive H2 2025 data or before pivotal Phase 3 start.


⚠️ 7. Risks & Considerations

  • Execution risk: Base editing is relatively new; long-term safety (off-target effects) remains under watch 

  • Regulatory hurdles: Despite RMAT/Odd status, full approval pathways require confirmatory data and large-scale trials.

  • Cash burn: Though well-funded now, multiple programs may drive need for additional raises (potential dilution).

  • Competition: Rivals like Vertex/CRSP in ex vivo SCD and other in vivo CRISPR players (Intellia, Editas, Verve) are active; execution differentiation is crucial.


๐Ÿ“… 8. Timeline & Key Catalysts

  • H2 2025:

    • BEAM‑101 data in adult + adolescent cohorts at EHA.

    • BEAM‑302 dose‑escalation data and Part B launch.

  • Late 2025–2026:

    • BEAM‑101 BLA prep or initiation of pivotal trials.

    • INDs for BEAM‑301 & ESCAPE platform, expanding into metabolic disease and non-genotoxic conditioning.


๐Ÿงญ Conclusion

Beam stands at a pivotal point—advanced base editing tech, promising trial data, strong financials, and regulatory momentum mean a breakout is plausible. If H2 2025 milestones are met, valuation could advance significantly, whether via commercial execution or strategic acquisition. However, precision in delivery, scalability, and long-term safety remain decisive.