February 18, 2020 6:17pm

Pre-open indications: 2 HITs <PSTI (-$0.11) and GBT (+$0.43)> and 8 MISS <MDXG (+$0.03), FATE (+$0.05), ADVM (+$0.53), ALNY (-$0.02), BLUE (-$1.89), CRSP (-$0.11), NTLA (-$0.41) and RGNX (-$0.38)>

FY19 results: Brainstorm Cell Therapeutics (BCLI +$1.17) NO Q4, FY19 net loss was $23.2 M, or ($1.06) per share, as compared to a net loss of $13.9 M or ($0.70) per share for FY 2018. (read more). Q4 and FY19’s results:  bluebird bio’s (BLUE -$1.09) Q4/19’s net loss was $223.3 M or -$4.04 per share as compared to Q4/18’s $149 M or -$2.72 per share. FY19’s net loss was $789.6 M or -$14.31 per share compared to FY18’s $555.6 M or -$10.68 per share, ending with $1.24 billion in cash. (read more)

I make a commitment to provide need-to-know “facts in evidence” as equity’s volatility is one tactical signal for stocks.


 

The Dow closed DOWN -165.89 points (-0.56%), the S&P closed DOWN -9.87 points (-0.29%) while the NASDAQ closed UP +1.57 points (+0.02%)

 

Henry’omics:

 

Framing the main takeaway … pricing, volume and machine trading creates volatility and liquidity!

 

RMi’s daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.

Staying in the down pricing doghouse were:

  • ReNeuron (RENE.L;
  • Intellia therapeutics (NTLA);
  • CRISPR Therapeutics (CRSP);
  • Alnylam Pharmaceuticals (ALNY);
  • Now joined by Pluristem (PSTI -$0.11 from Friday’s +$0.77)

While satisfying the upside herd were AxoGen (AXGN was up +$0.66 after Friday’s +$0.56 while Adverum Biotechnologies (ADVM closed up +$+$0.53 after Friday’s +$0.52) and Fate Therapeutics (FATE +$0.05 following Friday’s +$0.76)

Although Global Blood Therapeutics (GBT +$0.43 vacated Friday’s -$0.98).

 

Sentiment is hiding as the electronics (machine and algorithms) rule the session.

“Investors on Tuesday sold stocks in favor of traditionally safer assets such as Treasuries and gold. The benchmark 10-year U.S. Treasury yield fell to around 1.55% (yields move inversely to prices). Gold futures for April delivery climbed more than 1% to settle at $1,603.60 per ounce, its highest level since 2013” <CNBC>

 

Today’s trend is an admission that the sector is without pricing sustainability which suppresses a value directional

Investors seem to be happy living in a constructed reality, swallowing the Xanax pill is their prescription, in which directionless momentum is carrying the sector.

 

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

  • Tuesday the IBB closed up +0.05% and XBI closed up +0.52%
  • Monday: markets were closed;
  • Friday the IBB closed up +0.43% and XBI closed up +0.18%

 

The advance/decline line scenario of 35 covered companies:

  • Tuesday the close was positive with an A/D line of 18/16, 1 flat of 35 covered;
  • Monday: markets were closed;
  • Friday the close was negative with an A/D line of 14/19, 2 flats of 35 covered;

 

Quarterly and FY19 results:

FY19 results: Brainstorm Cell Therapeutics (BCLI +$1.17) NO Q4, FY19 net loss was $23.2 M, or ($1.06) per share, as compared to a net loss of $13.9 M or ($0.70) per share for FY 2018.

  • Cash, were approximately $0.6 million as of 12/31/19. As of2/ 14, 20 raised approximately $18.6 million utilizing the ATM facility. Cash, as of 2/18 were approximately $11.1 M supported by funding from non-dilutive CIRM and IIA grants amounts to approximately $3.4 M.

 

bluebird bio’s (BLUE) Q4 and FY19 results:

Cash Position as of December 31, 2019 was $1.24 billion and December 31, 2018 were $1.89 billion. The decrease in cash, cash equivalents and marketable securities is primarily related to cash used in support of ordinary course operating and commercial-readiness activities.

Collaboration and license and royalty revenues were $10.0 million for the three months ended December 31, 2019 compared to $19.2 million for the three months ended December 31, 2018. Collaboration and license and royalty revenues were $44.7 million for the year ended December 31, 2019 compared to $54.6 million for the year ended December 31, 2018. The decrease in both periods was primarily attributable to a decrease in collaboration revenue under our arrangement with Bristol-Myers Squibb, partially offset by an increase in license and royalty revenue.

R&D Expenses were $161.8 million for the three months ended December 31, 2019 compared to $119.7 million for the three months ended December 31, 2018. Research and development expenses were $582.4 million for the year ended December 31, 2019 compared to $448.6 million for the year ended December 31, 2018. The increase in both periods was primarily driven by costs incurred to advance and expand the company’s pipeline.

SG&A Expenses were $76.2 million for the three months ended December 31, 2019 compared to $53.5 million for the three months ended December 31, 2018. Selling, general and administrative expenses were $271.4 million for the year ended December 31, 2019 compared to $174.1 million for the year ended December 31, 2018. The increase in both periods was largely attributable to costs incurred to support the company’s ongoing operations and growth of its pipeline as well as commercial-readiness activities.

Net loss was $223.3 million for the three months ended December 31, 2019 compared to $149.0 million for the three months ended December 31, 2018. Net loss was $789.6 million for the year ended December 31, 2019 compared to $555.6 million for the year ended December 31, 2018.

 

Decliners:

  • ReNeuron (RENE.L -$3.50 after Friday’s -$2.50);
  • bluebird bio (BLUE -$1.09);
  • uniQure *QURE -$0.48);
  • Cellectis SA (CLLS -$0.44);
  • Intellia therapeutics (NTLA -$0.41 after Friday’s -$1.65)

Incliners:

  • Ionis Pharmaceuticals (IONS +$1.44);
  • Brainstorm Cell Therapeutics (BCLI +$1.17);
  • AxoGen (AXGN +0.66 after Friday’s +$0.56) – reports 2/24 Q4 and FY!9;
  • Sage Therapeutics (SAGE +$0.53)
  • Adverum Biotechnologies (ADVM +$0.53 after Friday’s +$0.52) and offering;

 

The percentage (%) indicators:

  • Tuesday’s range of the 18-upside was +0.16% (FATE) to +22.67% (BCLI) while the -16-downside ranged from -0.02% (ALNY) to -3.35% (MESO); 
  • Monday: markets were closed
  • Friday’s range of the 14-upside was +0.06% (CLLS) to +19.79% (PSTI) while the 19-downside ranged from -0.05% (QURE) to -10.64% (NTLA); 

 

Upside volume stats:  to compare

  • Tuesday: 5 out of the 18-upside had higher than the 3-month average volume;
  • Monday: markets were closed
  • Friday: 7 out of the 14-upside had higher than the 3-month average volume;

 

Downside volume stats:

  • Tuesday: 4 out of the 16-downside had higher than the 3-month average volume;
  • Monday: markets were closed;
  • Friday: 3 out of the 19-downside had higher than the 3-month average volume;

 

1 flat – ATHX

 

February

Tuesday closed positive with 16 decliners, 18 advancers and 1 flat

Monday markets were closed for President’s Day holiday

Friday closed negative with 19 decliners, 14 advancers and 2 flats

Thursday closed negative with 20 decliners, 13 advancers and 2 flats

Wednesday closed positive with 8 decliners, 26 advancers and 1 flat

Tuesday closed positive with 12 decliners, 22 advancers and 1 flat

Monday closed positive with 6 decliners, 26 advancers and 3 flats

Friday closed negative with 26 decliners, 9 advancers and 0 flat

Thursday closed negative with 23 decliners, 12 advancers and 0 flat

Wednesday closed positive with 5 decliners, 27 advancers and 3 flats

Tuesday closed positive with 5 decliners, 30 advancers and 0 flats

Monday (2/3) closed positive with 8 decliners, 24 advancers and 3 flats

 

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.