Trading Blog, November 9th, 2021

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In my trading accounts, over the last two trading days I have sold most of my TFF Pharma (TFFP) and put the funds into INmune Bio (INMB). No changes to longer-term accounts.

As you may recall, I sold INmune around $18.50 and purchased TFF at $7.70 about two weeks ago. As I mentioned at that time, my goal is to be very long INMB in this account and any trades in here are just playing around with timing to try to increase my position size over time.

With the recent weakness in INmune, due to a PR disaster of an earnings call, I decided to move the funds back from TFF into INmune. The result of this is my INmune position size in my trading account has increased around 15%, although the account is obviously down on the recent weakness.

I believe INmune will recover from the recent weakness. The CTAD conference this week should provide some good visibility into what they are doing in Alzheimer’s. At the same time, the INKmune data has been phenomenal and I expect them to speak about this more over the next few weeks.

Meanwhile, it is apparent that, until Glenn inks a deal, TFF is going to remain under pressure. Tax loss selling is taking place in my opinion. When TFF does sign a deal, the tone in the stock will change rapidly, but I didn’t want to miss out on picking up INMB around $15…so cheap.

No trades took place in my long-term investment portfolio.