December 26, 2018 5:11pm
As the IBB jumps +5.80% and 37 upside streak (of 45 covered) and 7 downside barely move…
Pre-open indications: 3 HITs
Out and about: Stemline Therapeutics (STML) has received FDA approved for Elzonris, the treatment of blastic plasmacytoid dendritic cell neoplasm, or BPDCN, in adults and in pediatric patients 2 and up for ahead of the 2/21 PDUFA date. The infusion approval coming in two months early highlights “the urgent need” in the indication. (Raghuram Selvaraju, HC Wainright).
Investors should be reading about today’s final “figures” – be a subscriber and be ready for Thursday’s session!
The 6 W’s: Who, what, where, when, why and what of it …
Daily analytics:
- The Dow closed up +1089.25points or +4.98% to 22,878.45
- The S&P closed up +116.60 points or +4.96% to 2,467.70
- The NASDAQ was +361.44 points or +5.84% to 6,554.35
Henry’omics:
Sector equities posted big (for a while)and a best day in long time on Wednesday, with the Dow notching its largest one-day point gain in history. The S&P 500 also catapulted 4.96% — its best day since March 2009.
Issue - we need to have three sessions until years end … and the fourth (4th) quarter.
Applied Genetic Technologies Corporation (AGTC) closed up +$0.08 after Monday’s +$0.18 fulfilling my BUY;
- AGTC still has $105 M in cash and there is $6.81 in total cash per share. BIIB has already paid out around $146 million during the collaboration and will contribute funding through to March 8 of next year, when the contract comes to an end
From the pre-open newsletter: “feeling some vibrations of a sector rebound? Volumes are expected to be thin and moves could be exaggerated … although, the iShares Nasdaq Biotechnology (IBB) is indicating a POSITIVE +0.09% UPSIDE.”
The advance/decline line scenario of 45 covered companies:
- The open was negative with an A/DL of 32/8 and 5 flat;
- The mid-day was positive with an A/DL of 35/8 and 2 flats
- The close was positive with an A/DL of 37/7 and 1 flat;
Pre-open indications: 3 HITs
- CRISPER Therapeutics (CRSP) closed UP +1.89 – hit, I’d said trade it;
- Editas medicine (EDIT) closed UP +$1.06 – hit, I’d said trade it;
- Intellia (NTLA) closed UP +$0.77 – hit, I’d said trade it;
Out and about:
Stemline Therapeutics (STML) has received FDA approved for Elzonris ahead of the Feb. 21 PDUFA date…
- Not only does this represent the first therapy to be approved for BPDCN, it has been approved for treatment-naïve — first-line — patients as well as relapsed or refractory patients who have received intensive chemotherapy, the analyst said.
- It is unlikely that the boxed warning on Elzonris’ prescription label regarding the increased risk of capillary leak syndrome will deter physicians from prescribing BPDCN patients with the drug, since CLS is largely cycle 1-related and manageable with monitoring and pre-emptive measures, as mentioned at the American Society of Hematology 2018 meeting, Selvaraju said.
- With STML indicating that the planned launch of Elzonris in early 2019 is on track, the probability of success has increased from 90% to 100%.
- Elzonris annual price estimate is from $350,000 to $400,000.
STML closed higher by +12.55% or +$1.04 to $9.33
Daily sector metrics: rebound for the upside and weakness for the down
… Greatest volume to the downside: HSGX, XON, MDXG, AST and CUR
… Upside volume was weighted to: VSTM, ALNY, SGMO, STML and CRSP
… Weakness ($) to the downside: XON (-$0.12), CLBS (-$0.11), CUR (-$0.4), MDXG (-$0.02) and HSGX (-$0.01)
… Barely any moves ($) to the upside: BLUE (+$7.66), ALNY (+$5.43), SAGE (+$5.40), RGNX (+$3.78) and BMRN (+$3.64)
… The week’s history lesson, the iShares NASDAQ Biotechnology (IBB) closed:
- Wednesday was up +5.80% after indicating a POSITIVE +0.09% in the pre-market;
- Tuesday was Christmas and closed;
- Monday was down -1.38% after NOT indicating in the pre-market;
- Friday was down -3.91% after NOT indicating in the pre-market;
- Thursday was down -1.71% after indicating a POSITIVE +0.28% in the pre-market;
- Last Wednesday was down -2.14% after indicating a NEGATIVE -0.1% in the pre-market;
Tonight’s percentage (%) indicators: weak yet up …
- Review the range of the 37 upside from +0.35% (BLCM) to +15.40% (SLDB) while the 7 downside ranged from -0.04% (KOOL) to -11.54% (HSGX) with 1 flat close (RENE.L)
Volume stat: thin
- 15 out of the 37 upside had higher (than the 3 month average) volume
- 4 out of the 7 downside experienced greater volume (than the 3 month average).
December sessions:
Wednesday closed POSITIVE with 7 decliners, 37 advancers and 1 flat;
Tuesday, the market was closed – Christmas;
Monday closed POSITIVE with 21 decliners, 23 advancers and 1 flat;
Friday closed NEGATIVE with 42 decliners, 3 advancers and 0 flat;
Thursday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;
Wednesday closed NEGATIVE with 34 decliners, 9 advancers and 2 flat;
Tuesday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;
Monday closed NEGATIVE with 34 decliners, 9 advancers and 2 flats;
Friday closed NEGATIVE with 30 decliners, 13 advancers and 2 flats;
Thursday closed NEGATIVE with 36 decliners, 8 advancers and 1 flat;
Wednesday closed POSITIVE with 8 decliners, 35 advancers and 2 flat;
Tuesday closed NEUTRAL with 21 decliners, 21 advancers and 3 flat;
Monday closed POSITIVE with 18 decliners, 25 advancers and 1 flat;
Friday closed NEGATIVE with 33 decliners, 11 advancers and 1 flat;
Thursday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
Wednesday markets were closed;
Tuesday closed NEGATIVE with 36 decliners, 7 advancers and 2 flats;
Monday (12/3) closed POSITIVE with 10 decliners, 32 advancers and 3 flats;
- In 22 sessions in November – there were 1 holiday, 10 positive closes, 1 neutral and 10 negative closes;
- In 23 sessions in October – there were 17 negative closes and 6 positive closes
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.
