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Jason Kolbert

Maxim Group

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Jason Kolbert is a senior managing director with the Maxim Group, and the head of healthcare research as well as a covering analyst. Kolbert's career began as a chemist in the pharmaceutical industry, and evolved into a product and marketing manager with Schering-Plough in Japan. Upon returning from Japan, he joined Salomon Smith Barney as a research associate, which evolved into an 18-year career on Wall Street as a ranked biotechnology analyst. As the head of healthcare at Maxim, Kolbert manages the healthcare effort to maintain a balance of large, capitalized, relevant institutional coverage combined with the next generation of small, capitalized, emerging companies that will influence the sector. His focus is across several therapeutic areas, with an emphasis in antiviral medicine, regenerative medicine, oncology and immunology (cell therapy). Kolbert is noted for being among the first analysts to focus on the changing landscape for Hepatitis C therapy. Today Kolbert is making the same call for stem cell therapy, identifying the sector as having the potential to alter current treatment paradigms. Kolbert spent seven years at Citi Group as a traditional sellside analyst, followed by seven years on the buy side as a portfolio manager with the Susquehanna International Group. Kolbert recently returned to his analyst role after spending a year as the head of business development for a public cell therapy company. At Maxim, Kolbert and his colleagues oversee a team responsible for covering 70 companies.




Recent Interviews

Why Investors Shouldn't Worry About Explosive New Drug Pricing: Maxim's Jason Kolbert (4/8/15) It's the daring Phase 2-stage molecules of today that will bring patients a generation of biotech drugs that could cure certain deadly diseases tomorrow. The candidates that succeed will also energize the portfolios of investors who have exercised patience. Jason Kolbert of New York City-based Maxim Group relishes finding early-stage, cutting-edge, small-cap names that he believes will change the paradigm of medical practice. In this interview with The Life Sciences Report, Kolbert shares a list of favorite biotechs developing products that will command premium pricing and sustained performance in the marketplace.

Cell Therapy 2015: With Maturity Comes Promise (12/23/14) A number of new and innovative medical paradigms are being explored by companies in the life sciences sector, with one of the front-runners being cell therapyŚa disruptive technology that has, in the past few years, progressed out of preclinical studies and into clinical development. To learn more about the transformative promise of regenerative medicine, and what investors might expect from companies working in the sector in 2015, The Life Sciences Report asked analysts Jason Kolbert of Maxim Group and Dr. Christopher James of Brinson Patrick to discuss the advances that could generate robust returns on investment in coming years.

Focus on Catalysts to Cash In on Biotech: Jason Kolbert (6/4/14) When progress is made in drug development, value is created. Investors recognize that progress by purchasing shares in companies when milestonesŚwhich act as catalystsŚare met. The Maxim Group's Senior Managing Director and Head of Healthcare Jason Kolbert lives by catalysts, and urges his investor clientele to understand there is no other reason to buy a stock except in anticipation of new information that creates value. In this interview with The Life Sciences Report, Kolbert discusses six names that have immense regenerative power for portfolios.

Recent Quotes

"OMER's OMS-721 was approved for compassionate use in Europe." (4/14/15) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"Investors should note the value that big pharma sees in MSB, the cell therapy industry leader." (4/13/15) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"INO is continuing to expand and progress in the HPV-related disease and oncology spaces." (4/9/15) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"DARPA selected INO to develop novel Ebola therapeutics." (4/8/15) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"BCLI's NurOwn has shown signs of efficacy in several trials." (4/8/15) BrainStorm Cell Therapeutics Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"If MSB's cells work, we're talking about a multibillion-dollar, druglike, blockbuster CHF treatment." (4/8/15) Mesoblast Ltd. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"STEM is doing pioneering work in the field of cervical spinal cord Injury and dry age-related macular degeneration." (4/8/15) StemCells Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"We view Omidria sales as a means for OMER to fund one of the most exciting biotechnology pipelines in the industry." (4/8/15) Omeros Corp. - The Life Sciences Report Interview with Jason Kolbert Moreá>

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"The longer INO holds onto VGX-3100, the greater the value proposition." (4/8/15) Inovio Pharmaceuticals Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"Modest penetration into this market could make ATHX's MultiStem more than a $1B product." (4/8/15) Athersys Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"CMS set reimbursement for OMER's Omidria at $465 plus 6% per vial." (4/2/15) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"JETRO chose MSB to receive access to potential investment incentives." (3/30/15) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"OMER's full launch of Omidria is planned for April." (3/17/15) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"2015 represents a 'proof of concept' year for STEM." (3/17/15) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"INO ended the year with $94M in cash." (3/17/15) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"Good data on stroke would be transformative for ATHX." (3/13/15) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"Chugai just signed a significant partnership with ATHX to develop MultiStem; the deal terms are attractive." (3/9/15) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"STEM is the leader in the allogeneic, fetal-derived stem cell space." (3/9/15) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"SNGX received a positive recommendation for its Phase 2 study of SGX942." (3/3/15) Soligenix Inc. - Jason Kolbert, Maxim Group Moreá>

"ATHX's new partner, Chugai, is a highly experienced leader in Japan." (3/2/15) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"We expect OMER's Omidria (OMS302) to be launched soon." (3/2/15) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"We are raising our price target for OMER." (2/20/15) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"We believe that MSB's MSC-100IV will be approved in children and ultimately adults, and that it will save lives." (2/18/15) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"BCLI's NurOwn appeared to slow the progression of ALS in its Phase 2a trial." (2/9/15) BrainStorm Cell Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"Good data in stroke should be transforming for ATHX." (1/23/15) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"BCLI holds the most significant cash position in its history, which fully funds its Phase 2 ALS trials." (1/20/15) BrainStorm Cell Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"MSB started a Phase 3 trial in chronic lower back pain due to DDD." (1/15/15) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"We view NBS's collaboration with Invetech positively and as a good fit." (1/13/15) NeoStem Inc. - Jason Kolbert, Maxim Group Moreá>

"INO's Pennvax is positioned as an important HIV product candidate." (1/6/15) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"ATHX is closing in on a major milestone." (12/29/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"The first patient in the Phase 2 Pathway study in cervical spinal cord injury was transplanted with STEM's proprietary purified human neural stem cells." (12/22/14) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"INO's platform technology has demonstrated measurable T-cell responses." (12/22/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"NBS as a window to be first cell therapy to the marketplace." (12/2/14) NeoStem Inc. - Jason Kolbert, Maxim Group Moreá>

"NBS' cardiac data are encouraging." (11/24/14) NeoStem Inc. - Jason Kolbert, Maxim Group Moreá>

"INO is going after melanoma with a new, novel approach." (11/20/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"We believe that the data set is our 'Good' scenario." (11/18/14) NeoStem Inc. - Jason Kolbert, Maxim Group Moreá>

"INO plans to continue development of INO-5150 (prostate cancer)." (11/17/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"INO will move its VGX-3100 HPV vaccine to a Phase 3 registration study." (11/17/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"NBS's Entrapuldencel-T represents a true, next-generation version of dendritic vaccine." (11/14/14) NeoStem Inc. - Jason Kolbert, Maxim Group Moreá>

"INO will move its VGX-3100 vaccine to a Phase 3 registration study." (11/10/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"We are excited for results from ATHX's Phase 2 stroke trial." (11/10/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"OMER's Omidria has been approved; sales could exceed $30M by 2017." (11/3/14) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"We are confident OMER is making the right call." (10/22/14) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"We see INO's grant as good news that supports our optimism on its technology." (10/22/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"STEM launched the Pathway study, a Phase 2 trial in cervical SCI." (10/7/14) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"A key element in INO's candidate is its ability to target multiple strains of the Ebola virus." (9/24/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"INO announced its Phase 1 clinical trial for aerodigestive cancers." (9/23/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"SNGX's RiVax trial has shown promising preliminary results with highly significant survival benefits." (9/2/14) Soligenix Inc. - Jason Kolbert, Maxim Group Moreá>

"MSB ended H1/14 with $196M on the balance sheet." (8/26/14) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"STEM's Q2/14E cash is enough to reach its AMD trials' proof of concept." (8/13/14) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"In Q2/14, ATHX spent $7M and closed with a cash balance of $39M." (8/12/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"INO is reviewing final VGX-3100 data for presentation to the FDA." (8/11/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"The NIAID has afforded SGNX an additional $2.1M to advance OrbeShield." (8/4/14) Soligenix Inc. - Jason Kolbert, Maxim Group Moreá>

"INO announced successful results from its Phase 2 trial of VGX-3100." (7/23/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"INO has initiated preparatory activities for a possible Phase 3 study." (7/15/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"KOOL is positioned for fast regulatory approval and investor returns." (7/8/14) Cesca Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"MSB reported positive efficacy results from MPC use in diabetes." (6/19/14) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"INO expects to report on its Phase 2 trial (HPV-003) in CD this summer." (6/18/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"OMER is a specialty pharma coupled with a true biotech company, and is working on a couple of exciting products." (6/4/14) Omeros Corp. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"I think that 2015 will be transformational, as KOOL gets ready to show us top-line data." (6/4/14) Cesca Therapeutics Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"NEO's Phase 2b PreSERVE AMI trial is well designed and well run." (6/4/14) NeoStem Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"ATHX's stock is a very compelling value." (6/4/14) Athersys Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"Preeclampsia is a very exciting indication, and PSTI has the potential to completely change how we treat this insidious disease." (6/4/14) Pluristem Therapeutics Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"OMER's OMS302, or Omidria, has been approved." (6/2/14) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"We are assuming coverage on DMPI with a Buy rating." (6/2/14) DelMar Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"Investors should pay close attention to OMER's OMS721 program." (5/20/14) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"Interim data from STEM's Phase 1/2 trial in SCI were positive." (5/19/14) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"Products being developed by SYN diversify risk and create value." (5/15/14) Synthetic Biologics Inc. - Jason Kolbert, Maxim Group Moreá>

"SNGX is advancing its clinical programs." (5/13/14) Soligenix Inc. - Jason Kolbert, Maxim Group Moreá>

"CYTX ended Q1/14 with $12.8M in cash and $3.6M in receivables." (5/13/14) Cytori Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"The chance of a positive outcome from INO's VGX-3100 trial is rising." (5/12/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"ATHX finished the quarter with $45M cash on the balance sheet." (5/9/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"We believe we can see good data from ATHX's stroke trial." (4/28/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"We are initiating coverage on KOOL with a Buy rating." (4/24/14) Cesca Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"ATHX expects that study data will be available in Q2/14 in two parts." (4/21/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"It is our belief that MSB's technology can work." (4/21/14) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"We are initiating coverage on DMPI with a Buy rating." (4/2/14) DelMar Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"ATHX's MultiStem has the potential to completely change existing treatment paradigms." (4/2/14) Athersys Inc. - The Life Sciences Report interview with Jason Kolbert Moreá>

"For INO, the probability of a positive VGX-3100 trial outcome is rising." (3/18/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"One area where ATHX shines is the quality of the science." (3/17/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"Positive data from either of its clinical trials could mean a major value increase for ATHX." (3/14/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"STEM received authorization to expand its SCI trial into Canada." (3/13/14) StemCells Inc. - Jason Kolbert, Maxim Group Moreá>

"We believe 2014 could be a major year of transition for CYTX." (3/12/14) Cytori Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"The potential of the OMER MASP-2 antibody is significant." (3/11/14) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"PSTI's manufacturing position is likely to translate into a key competitive advantage." (3/6/14) Pluristem Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"MSB finished 2013 with ample cash and just received pivotal FDA approval for its Resvascor trial." (2/26/14) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"OMER's pipeline progress looks good." (2/5/14) Omeros Corp. - Jason Kolbert, Maxim Group Moreá>

"CYTX is moving to create additional indications with clear endpoints." (2/3/14) Cytori Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"We would not be surprised to see a major device company partner with MSB." (1/30/14) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"We expect to see followup data soon from MSB's phase 2 DDD trial." (1/27/14) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"Last year, INO's data continued to validate its platform technology." (1/27/14) Inovio Pharmaceuticals Inc. - Jason Kolbert, Maxim Group Moreá>

"PSTI's manufacturing position should be a key competitive advantage." (1/23/14) Pluristem Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"PSTI is advancing placental expanded cells on multiple fronts." (1/21/14) Pluristem Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"Data from ATHX's phase 2 clinical trial are expected by mid-April." (1/6/14) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"The bottom line is that good data become transformative for ATHX." (12/19/13) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"We'd love to see MSB launch a U.S. clinical trial with Prochymal in graft-versus-host disease, where an approved therapy is so desperately needed." (12/17/13) Mesoblast Ltd. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"When you think about the number of opportunities that exist for a company like INO, it's almost limitless." (12/17/13) Inovio Pharmaceuticals Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"CYTX operates its own subsidiary in Japan, and probably has the largest presence of any cell therapy company in that country." (12/17/13) Cytori Therapeutics Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"I very much believe the results of NBS' trial will be positive." (12/17/13) NeoStem Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"If ATHX can enroll a handful of Japanese patients to be part of the current phase 2 trial, that could create an accelerated pathway to the marketplace." (12/17/13) Athersys Inc. - The Life Sciences Report Interview with Jason Kolbert Moreá>

"The Intrexon partnership parallels SYN's expertise and portfolio." (12/10/13) Synthetic Biologics Inc. - Jason Kolbert, Maxim Group Moreá>

"New study data show MSB's stem cells are active, safe and effective." (12/4/13) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"In the heart failure space and among the autologous players, we believe ATHX cells are among the most potent." (11/20/13) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

"We see MSB as the undisputed leader in the congestive heart failure space." (11/20/13) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"The CYTX business model is quite strong." (11/20/13) Cytori Therapeutics Inc. - Jason Kolbert, Maxim Group Moreá>

"CUR expects to commence its phase 1/2 trial in China in Q4/13." (11/18/13) Neuralstem Inc. - Jason Kolbert, Maxim Group Moreá>

"An MSB trial showed MPCs enhanced sensorimotor recovery in rats." (11/18/13) Mesoblast Ltd. - Jason Kolbert, Maxim Group Moreá>

"ATHX's phase 2 trial is the most important one to watch in the space." (11/18/13) Athersys Inc. - Jason Kolbert, Maxim Group Moreá>

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