August 17, 2020 8:12am
Pre-open indications: 4 BUYs and 3 SELLs
News of financing between Alnylam Pharmaceuticals and Blackstone, news of Pluristem’s (PSTI) non-binding Memorandum of Understanding (MOU) with the United Arab Emirates-based Abu Dhabi Stem Cells Center (ADSCC) and news of a bluebird bio (BLUE) presentation at virtual 46th EBMT Annual Meeting <read more>
What I provide is an intelligence daily. RMi outlines the potential prelude to the daily dosage of facts and objectivity! Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors!
My gift to you, I've kept RMi subscription FREE during these COVID-19 and volatile times!
Dow futures are UP +0.24% (+67 points), S&P futures are UP +0.33% (+11.25 points) and NASDAQ futures are UP +0.63% (+70 points)
U.S. stock futures were up early Monday however, caution is in the air;
European stocks fluctuated amid a choppy start to the week’s trade, with geopolitical tensions and concerns over the spread of the coronavirus on investors’ radar. Yet, the pan-European Stoxx 600 reversed opening losses to climb 0.2% by early afternoon;
Asia Pacific stocks were mixed on Monday as tensions between the U.S. and China continue to weigh on investor sentiment. Markets in South Korea are closed on Monday for a holiday and the MSCI Asia ex-Japan index advanced 0.32%.
The S&P 500 is overbought into key resistance and up against seasonal headwinds.
Also stalled coronavirus stimulus negotiations and simmering U.S.-China escalate market tremors but, no earthquake … yet.
Thursday night’s post title – “yet another sector rotation to the downside”
- The NASDAQ closed DOWN -23.20 points (-0.21%);
- The IBB closed down -0.48% and XBI also closed down -0.93%;
- Sector volume was LOW with 2 of the 10-upside having higher than the 3-month average volume and the 1 of 23-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.08 points or -0.36% at 22.05’
- Friday’s percentage (%) of the 10-upside were +0.83% (ATHX) to +51.40% (MESO) while the 23-downside ranges from -0.18% (VYGR) to -16.98% (BSTG);
Last five (5) sessions:
- Friday closed negative with 10 advancers, 23 decline and 2 flats
- Thursday closed positive with 19 advancers, 11 decline and 4 flats
- Wednesday closed negative with 13 advancers, 19 declines and 3 flats
- Tuesday closed negative with 3 advancers, 32 declines and 1 flat
- Last Monday (8/10) closed positive with 25 advancers, 8 declines and 2 flats
Q3 so far:
- August, 5 positive closes and 5 negative closes
- July -11 positive and 11 negative closes with 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
Biostage (BSTG) closed down -$0.45 to $2.20 after Thursday’s -$0.22 to $2.65 after Wednesday’s flat ($0.00), Tuesday’s -$0.02 and last Monday’s +$0.19. Keep writing those checks to “PUMP” the share price.
Remember, there are millions of private placement millions unregistered shares (priced at $3.20, $3.60 and $3.70) existing FAR beyond the outstanding shares with more coming …
Question: now that Q2 “numbers’ are announced, a -$1.2 M net loss or -$0.14 per share with only cash of $600 K and debt of 400 K; what happens to the clinical trial initiation and who ever remains an employee? The term – “going concern”, it’s even more UGLY when all this could have been AVOIDED! Also, remember the strategic plan for “forward motion” that was TOTALLY disregarded.
Alnylam Pharmaceuticals (ALNY) closed down -$1.29 to $136.14 and has news on Monday morning of closing of the R&D funding component of ALNY’s previously announced $2 billion strategic financing collaboration to accelerate the advancement of RNAi therapeutics. Under the terms of the agreement, Alnylam will receive up to $150 million from Blackstone Life Sciences for the development of ALNY’s cardiometabolic disease programs vutrisiran and ALN-AGT. The investment includes up to $70 million to support the ongoing HELIOS-B P3 study of vutrisiran in ATTR amyloidosis patients with cardiomyopathy, and up to $80 million to support P2 and 3 development of ALN-AGT, in development for the treatment of hypertension.
Pluristem (PSTI) closed up +$0.02 to $8.72 and has positive +$0.70 or +8.14% pre-market indication responding to news of signing a non-binding Memorandum of Understanding (MOU) with the United Arab Emirates-based Abu Dhabi Stem Cells Center (ADSCC), a specialist healthcare center focused on cell therapy and regenerative medicine. Executives from both companies took part in a signing ceremony held via video conference between Israel and the UAE. The aim of the collaboration is to capitalize on each company’s respective areas of expertise in cell therapies to deliver regenerative medicine for the benefit not only of the citizens of the UAE and Israel, but for humanity as a whole. The collaboration between the parties was initiated by the Better Alternatives advisory firm.
Global Blood Therapeutics (GBT) closed down -$0.39 to $71.53. and has a positive +$1.67 or +2.71% aftermarket indication from Friday;
bluebird bio (BLUE) closed down -$1.23 to $%59.67 and has positive +$1.01 or +1.69 aftermarket (Friday) indication and has news of a virtual presentation at the 46th EBMT Annual Meeting about the new data from the clinical development program for its investigational elivaldogene autotemcel (eli-cel, Lenti-D™) gene therapy in patients with cerebral adrenoleukodystrophy (CALD), including data from the P2/3 Starbeam study (ALD-102) and available data from the P3 ALD-104 study,
SELL into strength:
Mesoblast (MESO) closed up +$6.07 to $17.88 after Thursday’s $11.81, Wednesday’s +$0.48, Tuesday’s $11.33 and last Monday’s $17.42 and has a negative -0.11 or -0.62% aftermarket indication. I believe an Icarus “fly and plunge” is in play;
Editas Medicine (EDIT) closed down -$0.40 to $34.92 after Thursday’s +$0.57, Wednesday’s +$0.56, Tuesday’s -1.32 and has a negative -$0.32 or +0.92% aftermarket indication;
The BOTTOM LINE: I was supposed to be on vacation and still watching; unfortunately, circumstances got hold of me.
Time to try again … I need Monday to relaxe after all the weekend's in-home work ...
Market prices have gotten ahead of the fundamentals, so those expecting a short-term economic recovery will be disappointed. The road to reopening promises to be long and challenging.
Remember, the 6 W’s: Who, what, where, when, why and what of it
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.