Archive - Two Natural Cap

CRISPR Comes Back to Life

Baby KJ, LNPs, and Danaher

Jun 11 •

Two Natural Capital

May 2025

Casey’s General Stores: A Dollar General Approach to Gas Stations $casy

Pizza, Buc-ee’s, Expansion, and Zyn

May 7 •

Two Natural Capital

April 2025

In Situ Sequencing: 10x Genomics, NanoString, and Vizgen $txg $brkr

Lawsuits, Sensitivity/Specificity, and Mouse Brains

Apr 25 •

Two Natural Capital

Illumina: What Does a Hypothetical Bull Case Look Like? $ilmn

The Single-Cell and Spatial Opportunity

Apr 10 •

Two Natural Capital

March 2025

Solid BioSciences, Sarepta, and Regenxbio ($sldb, $srpt, $rgnx)

Gene therapies for the largest gene in the body, protein-protein interaction choices, and the importance of capsid design.

Mar 19 •

Two Natural Capital

February 2025

Blackstone: A Test in Generating Alpha at Scale $bx

Perpetual Capital, Private Credit, and the Power of a Brand Name

Feb 27 •

Two Natural Capital

January 2025

Long-read vs Short-read, Cancer Testing, and Debt Paydown vs Innovation

Jan 23 •

Two Natural Capital

December 2024

Sarepta Therapeutics: From Exon-Skipping to Gene Therapy $srpt

Business model shifts, incentives to innovate, and a flywheel for rare diseases

Dec 12, 2024 •

Two Natural Capital

October 2024

Sophia Genetics: The Benefits/Drawbacks of Sequencer Agnosticism $soph

Akre Capital, Illumina/Ultima/Element, and Data-Driven Healthcare.

Oct 30, 2024 •

Two Natural Capital

September 2024

Tempus AI: A (Tentative) Short Thesis $tem

Company name changes, reimbursement decisions, and clinical AI vs GitHub Copilot

Sep 25, 2024 •

Two Natural Capital

August 2024

What do Moderna and Pod Shops Have in Common?

Fragmentation, Cancer Vaccines, and the Benefit of Developing Therapeutics In-House

Aug 29, 2024 •

Two Natural Capital

Illumina and Cannibalizing Your Customers

Customer lock-in, the struggles of monopolies, and ASML.

Aug 15, 2024 •

Two Natural Capital

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