March 13, 2024 4:51pm

The sector’s ups and downs are synonymous with this exercise  

Earnings: SLDB and SGMO (in The Bottom Line)

Pre-open Indication: 0 Hits and 4 Miss

Subscription is coming; a “buck” a day will keep your portfolio in play - be a subscriber to continue reading! A 360-degree review of the who, why, when and what happened in the sector as the market and economics surround your portfolio defense.

Never leave an investor uninformed! A trusted source of factual reporting!

Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment.

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about – facts in evidence! 

 

Wednesday: The Dow closed UP +37.83 points or +0.10%, the S&P closed DOWN -9.96 points -0.19% while the Nasdaq closed DOWN -87.87 points or -0.54%

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes closed mixed, pulling back from a record reached in the previous session

Economic Data Docket: Investors will get more inflation data Thursday in the form of the producer price index for February.

 

Wednesday’s RegMed Investors’ (RMi) opening bell: “find support, anywhere. If the major indexes pull back soon, Tuesday's actionable stocks could struggle, at least temporarily as producer price data is due this week.” …   https://www.regmedinvestors.com/articles/13369

 

Advance/Decline (A/D) Line:

  • Wednesday’s advance/decline line at the open was positive with 24 incliner, 9 decliners and 2 flats; ending with a positive close of 21 incliners, 13 decliners and 1 flat

 

Pre-open Indication: 0 Hits and 4 Miss < Alnylam Pharmaceuticals (ALNY +$1.77), Blueprint Medicine (BPMC +$0.90), BioLife Solutions (BLFS +$0.94), CRISPR Therapeutics (CRSP -$0.52)>

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:

Q1/24: March, 3 positive and 6 negative closes

  • February, 1 holiday, 9 negative and 11 positive closes
  • January: 2 holiday, 12 negative and 8 positive closes

 

Key Metrics:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday, the IBB was up +0.16% and the XBI was up +0.89%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was down -0.06 point or -0.43% at 13.78

 

Wednesday’s Closing Down (10 of 13):

  • CRISPR Therapeutics (CRSP -$0.52 after Tuesday’s -$1.52 after Monday’s -$2.10
  • Mesoblast (MESO-$0.22 after Tuesday’s $0.00 after Monday’s +$0.51),
  • AxoGen (AXGN -$0.18),
  • Generation Bio (GBIO -$0.10),
  • Sangamo Therapeutics (SGMO -$0.076),
  • Cellectis SA (CLLS -$0.06 after Tuesday’s +$0-19 after Monday’s +$0.25),
  • MiMedx (MDXG -$0.04),
  • uniQure NV (QURE -$0.04 after Tuesday’s +$0.01),
  • Fate Therapeutics (FATE -$0.02),
  • Editas Medicine (EDIT -$0.02 after Monday’s -$0.39)

Flat (1);

  • Bellicum Pharmaceuticals (BLCM)

Wednesday’s Closing Up (10 of 21):

  • Alnylam Pharmaceuticals (ALNY +$1.77 after Tuesday’s -$2.46 after Monday’s -$0.72),
  • Beam Therapeutics (BEAM +$1.57 after Tuesday’s -$0.77 after Monday’s -$0.96)
  • BioLife Solutions (BLFS +$0.96),
  • Blueprint Medicine (BPMC +$0.90 after Tuesday’s +$0.23 after Monday’s -$2.83
  • Ultragenyx Pharmaceuticals (RARE +$0.89 after Tuesday’s -$0.85 after Monday’s -$2.02)
  • Intellia Therapeutics (NTLA +$0.89 after Tuesday’s -$1.76 after Monday’s -$0.43),
  • Solid Biosciences (SLDB +$0.83),
  • Caribou BioSciences (CRBU +$0.58 after Tuesday’s -$2.20),
  • Regenxbio (RGNX +$0.49 after Tuesday’s -$0.87 after Monday’s +$0.10)
  • Verve Therapeutics (VERV +$0.42 after Tuesday’s -$0.50 after Monday’s -$0.54),

 

Q1/24 – March

  • Wednesday closed positive with 21 incliners, 13 decliners and 1 flat

 

The BOTTOM LINE: The cell and gene therapy sector closed positive on Wednesday, I believe aided by algorithms and electronic trading.

… after Tuesday, Monday, Friday and Thursday negative after the previous Wednesday positive close …

  • Earnings, net losses, and per-share losses, runways and guidance have begun Q4 and FY23 which WILL be crucial to continue downside force in the sector as history has taught us i.e., investors.

I have seen 4 net income for the Q4 and FY23 - MiMedx (MDXG) and Voyager Therapeutics (VYGR) followed by Q4 CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM) <but each had a FY23 loss>

Earnings:

Sangamo Therapeutics (SGMO) a Q4/23 net loss of -$60.3 M or -$0.34 per share part of FY23’s net loss of -$247.8 M or -$1.48 per share with a cash position of $81 M and a runway until Q3/24

and

Solid Biosciences (SLDB) a Q4/23 net loss of -$20.3 M or hiding per share part of FY23’s net loss of -$96 M or -$4.83 per share with a cash position of $123.6 M with additional $108.9 M offering 1/24and a runway until 2026

 

24 have reported … RegMed Investors (RMi) - Q4/23 & FY23 Cell and Gene Therapy Earnings Scorecard Results https://www.regmedinvestors.com/articles/11628

 

As I wrote yesterday, “There is ALWAYS a however, the cell and gene therapy sector is DUE a rebound EVEN if it is due to algorithms and electronic trading RECOGNIZING risk and the oversold!”

“I ALSO reiterate, “Don't chase the cell and gene therapy sector, especially with the Nasdaq extended.” Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

 

Quotes to ponder:

“Wall Street will remain hypervigilant for how the central bank will proceed with monetary policy at its next meeting beginning on March 19, Yoshioka noted, where she expects Fed Chair Jerome Powell to reiterated a data-dependent outlook and more neutral tone.”

“When you look underneath the surface, things are a bit stickier than people would have hoped,” Yoshioka noted, pointing toward increasing services costs in the latest CPI print.

 

The top three (3) performing in the session:

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Beam Therapeutics (BEAM) and BioLife Solutions (BLFS)
  • Tuesday: Blueprint Medicine (BPMC), Cellectis SA (CLLS), and Compass Therapeutics (CMPX)
  • Monday:  Graphite Bio (GRPH), Mesoblast (MESO) and Solid BioSciences (SLDB)

The worst three (3) in the session:  

  • Wednesday: CRISPR Therapeutics (CRSP), Mesoblast (MESO) and AxoGen (AXGN)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Caribou Biosciences (CRBU) and Intellia Therapeutics (NTLA)
  • Monday: Blueprint Medicine (BPMC), CRISPR Therapeutics (CRSP) and Ultragenyx Pharmaceuticals (RARE)

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. Whether information or intelligence is good, bad, or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor, and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication. Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities.

I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.