July 23, 2017 1:23pm
The IBB ended up + 0.61% with the XBI +0.79% while the IWM was down -0.45% with the XLV -0.11% and the VIX was down -2.30%
There is a lot of oil on the water keeping the waves down ...
Start worrying about Q2 results, cash positions and spending and pricing depreciation pre the announcements that start 8/1 with Athersys (ATHX)
Read more because … unless you know what happened today; it is hard to formulate a perspective for tomorrow!
It’s called premium content for a reason … I define insight from a real-time perspective discussing equity share pricing, attractiveness and support levels as stock pricing changes by the hour … if not the minute!
Others don’t even come close!
I answer one question, in which company should investors commit and keep their money.
Last week and Friday’s results have implications to Monday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’ omics:
One measure of fear as the so-called "fear gauge" marked the lowest close since ended at 9.31 as on December 1993. The metric's historical average is 20 and it has continued to mostly slump in 2017.
This dynamic, lower readings for VIX and elevated stock prices, have suggested to market participants that investors are becoming increasingly complacent. Friday's VIX slide came as many major equity benchmarks closed lower, but not far from records, including the Dow -0.15% the S&P 500 index SPX, -0.04% and the NASDAQ -0.04% which all finished less than 1% shy of all-time closing highs.
Volume continues sluggish than it has been in a few weeks … still all over the map; which seems standard in buying yet back and forth in selling – it is a gauge of how the sector feels at the moment - complacent.
The week’s three finger measurement:
Juno Therapeutics (JUNO) top holder of shares bailed in a big way, chopping his stake nearly in half. CL Alaska sold eight million shares of Juno (JUNO) on July 13 for $216 million. CL Alaska is an entity controlled by Douglas K. Bratton through Crestline Management.
uniQure N.V. (QURE) has successfully developed and optimized a reproducible and scaled-up manufacturing process for producing its lead gene therapy candidate for patients with hemophilia B at its state-of-the-art manufacturing facility in Lexington, Massachusetts. This progress includes the validation of analytical methods required to manufacture and test product in accordance with Good Manufacturing Practices (GMP). QURE has also finalized its comparability protocol and is making progress on its execution.
Brainstorm Cell Therapeutics (BCLI) announced that the California Institute for Regenerative Medicine (CIRM) has awarded Brainstorm a grant of $16 million to support the pivotal Phase 3 study of NurOwn®, for the treatment of amyotrophic lateral sclerosis (ALS).
BCLI also signed definitive agreements with Massachusetts General Hospital and California Pacific Medical Center (CPMC) to enroll patients in the planned P3 clinical trial of NurOwn® in amyotrophic lateral sclerosis (ALS), pending FDA and Institutional Review Board approvals.
· I thought that ONLY California based companies were eligible – an Israel and New Jersey based company with a trial at a Cal hospital (a reach)??
ImmunoCellular Therapeutics, Ltd. (NYSE MKT: IMUC) priced an underwritten public offering of 5,000 shares of its Series B 8% Mandatorily Convertible Preferred Stock ("Preferred Stock") and related warrants to purchase up to 9,000 shares of Preferred Stock, at a public offering price of $1,000 per share of Preferred Stock and related Warrants, for gross proceeds of approximately $5 million, excluding the proceeds, if any, from the exercise of the Warrants.
· One word – rip-off!
Caladrius Biosciences, Inc. (CLBS) announced that 50% of subjects have been treated in The Sanford Project: T-Rex Study, a prospective, randomized, and placebo-controlled, double-blind P2 clinical trial to evaluate the safety and efficacy of the Company’s CLBS03 as a treatment for recent-onset type 1 diabetes (T1D). A pre-specified interim analysis of early therapeutic effect will occur after the six-month post-treatment follow-up visit, with results expected to be announced in late 2017 or early 2018. This complete study will enroll a total of approximately 111 subjects age 8 to 17.
· Where did the stock go last week - $4.00 to $4.08 with a high on Wednesday’s $4.20
Cellectis S.A. (ALCLS.PA) (CLLS) and Calyxt, Inc. announced the pricing of Calyxt’s initial public offering of 7,000,000 shares of its common stock at the initial public offering price of $8.00 per share. The number of shares in the Offering represents an increase of 939,394 shares from the 6,060,606 shares previously disclosed, and the initial public offering price represents a decrease from the previously disclosed estimated price range of $15.00 to $18.00 per share. In addition, Calyxt granted the underwriters for the Offering an option to purchase up to 1,050,000 additional shares of Calyxt’s common stock at the initial public offering price less the underwriting discount. The Offering is expected to close on or about July 25, 2017.
· Calyxt is CLLS’ gene editing agriculture Company. Prior to the Offering, CLLS owned 100% of Calyxt’s outstanding shares of common stock. Immediately following completion of the Offering after giving effect to the 2,500,000 shares of common stock Cellectis purchased in the Offering, CLLS will own approximately 83.1% of Calyxt’s outstanding shares of common stock (or 79.9% if the underwriters exercise their option to purchase additional shares in full).
Capricor Therapeutics (CAPR) announced that the U.S. Food and Drug Administration (FDA) has granted Rare Pediatric Disease Designation to CAP-1002, CAPR's development candidate for the treatment of Duchenne muscular dystrophy, a debilitating genetic disorder characterized by progressive weakness and chronic inflammation of skeletal, heart, and respiratory muscles. The Rare Pediatric Disease Designation, as well as the Orphan Drug Designation previously granted to CAP-1002 by the FDA, covers the broad treatment of DMD. Upon receiving market approval for CAP-1002 by the FDA, Capricor would be eligible to receive a Priority Review Voucher.
· Hype at its worst after a catastrophic failure – SELL, SELL and SELL again …
Spark Therapeutics (ONCE) announced that the U.S. FDA has accepted for filing the Biologics License Application (BLA) and granted Priority Review for voretigene neparvovec, an investigational, potential one-time gene therapy candidate for the treatment of patients with vision loss due to confirmed biallelic RPE65-mediated inherited retinal disease (IRD). The investigational gene therapy, which has the proposed trade name LUXTURNA™ (voretigene neparvovec), has the potential to be both the first pharmacologic treatment for IRD and the first gene therapy for a genetic disease in the United States.
· ONCE traded $60.75 to $69.02 ($5.71)
What’s keeping the advance/decline lines up? Let’s NOT forget the summer doldrums. But the sector still hasn’t messaged its supporting metrics … appreciators are up, not soaring, just as many losers are still public …
Friday’s advance/decline line scenario of 43 SCGT & RT covered companies:
- The open was positive with an A/DL of 22/17 and 4 flats;
- The mid-day was positive with an A/DL of 27/15 and 1 flats;
- The close was positive with an A/DL of 26/16 and 1 flats;
The week’s closing advance/decline analytics:
Monday – N/A (vacation)
Tuesday – N/A (vacation)
Wednesday – 17 decliners, 23 advancers and 3 flats;
Thursday – 11 decliners, 26 advancers and 6 flats;
Friday – 16 decliners, 26 advancers and 1 flat
The iShares NASDAQ Biotechnology (IBB) indicated:
Friday was up +0.61% at 324.88
Thursday was up at 322.92
Wednesday was up at 3319.63
Tuesday was down at 315.08
Monday was flat at 316.41
The count - decliners versus gainers:
Friday’s decliners ranged from -0.17% <XON> to -7.52% <ISCO> in 16 equities;
Versus …
Friday’s gainers ranged from +0.15% <CLLS> to +9.05% <BCLI> in 26 equities
Some of MY indications to watch:
The greatest volume to the downside: XON, IMUC, KOOL, QURE and HSGX
Upside volume was weighted to: BCLI, ONCE, BLFS, VTGN and AGTC
Biggest $ downside: KITE, MDXG, ISCO, FCSC and QURE
Largest $ upside: ONCE, JUNO, BCLI, BLUE and RGNX
Flat: ADVM
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.
