As Senior Managing Director and researcher at Evercore ISI, Umer Raffat has a crucial role in the fight against COVID-19. But he does not work from a laboratory or hospital.
Named #1 in his field an impressive 5 times, the analyst advises his company’s clients where to invest their money in the biotech industry. Currently, he scrutinizes multiple ongoing vaccine trials for COVID-19. He stands at the forefront of explaining the results of these trials, and helping guide the market.
Umer Raffat optimistic about some of the ongoing trials
The ongoing efforts to develop a COVID-19 vaccine takes place on many fronts. As a finance analyst, Raffat analyzes statistical results from ongoing trials. This way, he can help determine the efficacy of those trials. As of April, one drug, remdesivir, has shown limited success in the long term. Raffat highlighted the potential benefits early on. Since then, he has stood by the efficacy of the drug “as long as patients take it early,” reports Biocentury. “But it’s not a silver bullet,” he adds.
In more recent trials of Pfizer and BioNTech vaccine, which entered stage 3 of testing this summer, Raffat also had some advice. Biopharmadive reports that Raffat wrote to Evercore ISI’s clients that German trials showing “immune memory” – an immune response that provides prolonged defense – may be an important part of this vaccine, or perhaps even “critical.”
Five times recognized for outstanding analyses
Raffat received his Bachelors in Biology and Political Science from the University of Texas at Arlington in 2006. Next, he proceeded to receive his Masters in International Health Economics from Harvard University in 2008. He has worked as a biotech associate for the Deutsche Bank and has been with Evercore ISI for the last 10 years. At first, he worked in biotech equity research, but has expanded into specialty pharma and large biotech in recent years.
Raffat has received 5 separate #1 ratings in his field by Institutional Investor. This includes one for his first year covering the sector.
“Despite being new to the space, Umer has brought an unprecedented level of analytical rigor and depth to bear, with profound impact,” one of his clients told Institutional Investor at the time.
Given the current push to produce a viable coronavirus vaccine, Raffat has worked heavily in that area. Nevertheless, he has not narrowed his vision entirely. He has also advised his clients on Mylan’s recent manufacturing issues, among other things.
Umer Raffat on current trials
Raffat has recently commented on Moderna’s COVID-19 vaccine, which shows some promise. Moderna used to be headed by the current head of Operation Warp Speed, Dr. Moncef Slaoui. Slaoui has since cast off these ties in his new capacity, but Moderna remains a leader in vaccine development.
Moderna’s vaccine candidate has more flexibility in how it can be stored as compared to Pfizer/BioNTech’s. This difference could be a “fairly meaningful difference commercially,” says Raffat.
So far, one vaccine has received more praise than any other. This vaccine emerged in a partnership of Arrowhead and J&J. Raffat and fellow Evercore ISI analyst Jon Miller stated that their vaccine “looks the most effective so far,” although ultimately many factors must be taken into account.
In the meantime, Raffat will continue providing analyses to guide the distribution of funds in the effort to bring about an effective, safe vaccine.
In the meantime, keep up to date with the CDC’s official COVID-19 guidelines here and make sure to keep up with social distancing and handwashing to keep the curve down.
