September 14, 2020 7:56am

Gilead Sciences (GILD) keeps biotech’s lights shining by buying Immunomedics (IMMU) for a (+$44.95 or +106.39%) premium

Pre-open indications: 3 BUYs and 3 SELL

The Biostage (BSTG) Chronicles … Question#1; WHY has Hong Yu’s tenure as president resulted in so many board directors (BOD)and scientific staff departures (CEO, VP of Manufacturing, VP of Financing (leave of absence), Interim CFO, IND and operation consultants and multiple scientific staff), BOD immediate resignations – both audit BOD committee members and non-initiation of clinical trials after an approved IND since March 20’s approval?

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Dow futures are UP +0.97% (+267 points), S&P futures are UP +1.26% (+42 points) and NASDAQ futures are UP +1.58% (+175 points)

 

U.S. stock futures are up pushing toward a positive open rose to start the week on Monday after a sell-off in;

European stocks were mixed, erasing opening gains which came on the back of a resumption of coronavirus vaccine trials as the pan-European Stoxx 600 hovered around the flatline;

Asia Pacific stocks jumped as investors watched shares of Japanese conglomerate SoftBank Group following an announcement of its sale of U.K. chip designer Arm. The MSCI Asia ex-Japan index gained 0.93%.

 

Henry’omics:

Futures are jumping …

The Nasdaq fell in another volatile session on Friday as the continuing tech sell-off drove the benchmark to its worst week in months.

The S&P 500 fell by 2.5% last week and is down 4.6% this month while the Nasdaq had its worst week (-4%) since March.

Friday night’s post: RegMed Investors’ (RMi) closing bell: “irritable market syndrome - could it define today’s index’s mood swings. The sector’s behavior has been unpredictable in September sessions so far, it just may be a sign of something more serious to come”

  • The Nasdaq closed DOWN -66.05 points (0.60%);
  • The IBB closed up +0.49% and XBI also closed down -0.07%;
  • Sector volume was LOW with 3 of the 16-upside having higher than the 3-month average volume and the 4 of 17-downside having higher than the 3-month average volume;
  • The CBOE Volatility Index (VVIX: INDEX) was down -2.84 points or -9.56% at 26.87;
  • Friday’s percentage (%) of the 16-upside were +0.20% (PSTI) to +11.43% (CLBS) while the 17-downside ranges from -0.21% (ADRO) to -20.35% (BSTG); 

 Q3 so far:

  • September, 1 positive close, 7 negative closes and 1 holiday
  • August, 10 positive closes and 11 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:

Maintaining Sell:

Biostage (BSTG) closed down -$0.35 to $1.37 after Thursday’s +$0.37 on small volume (1098 shares), Wednesday’s -$0.12 (25,000 shares traded), Tuesday’s +$0.12 to $1.47 (with 1100 shares traded) as Monday was a holiday following the previous Friday’s close at $1.35 (with 800 shares traded).

Analysts and journalists ask questions and … as usual don’t get a response from this company. Wonder WHY?

Question#2: WHY is NONE of the SEC filings UNAVAILABLE of their website? WHAT do they NOT want INVESTORS to KNOW - the amount of MONEY’s ($) expended to date since inception – approximately $75 million with NO clinical trial initiation?

Question #3: Why on website - Peter Chakoutis, VP of Finance is STILL listed as contact on website re investor contact and invoices etc. – he left 8/24/2020 as did BOD audit committee member (9/3/202)?

Question#3: WHAT role has Shunfu Hu, VP of business development and operations PLAYED in these EXODUSES?

Maintaining BUY:

Alnylam Pharmaceuticals (ALNY) closed up +$1.25 to $122.44 and has a positive +$1.16 or +0.95% aftermarket (Friday) indication);

CRISPR Therapeutics (CRSP) closed down again -$1.82 to $79.98 after Thursday’s -$3.45 to $81.80, Wednesday’s +$3.79, Tuesday’s -$0.56 to $81.46 and has a positive +$0.52 or +0.65% (Friday) aftermarket indication;

Global Blood Therapeutics (GBT) closed down again -$0.53 to $52.76 after Thursday’s -$4.47 to $53.29 after Wednesday’s $57.76  and last Tuesday’s $58.74 as Monday was a holiday with a positive +$0.04 or +0.08%  (Friday) aftermarket indication on under-appreciated news of entering into an exclusive agreement with Biopharma-Middle East and Africa (Biopharma-MEA) to distribute Oxbryta® (voxelotor) tablets in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, collectively known as the Gulf Cooperation Council (GCC) region. There are estimated to be more than 100,000 people age 12 years and older in this region living with sickle cell disease (SCD);

SELL into Strength:

Sage Therapeutics (SAGE) closed up +$1.48 to $55.73 and has a positive +$0.21 or +0.38% aftermarket (Friday) aftermarket indication

SELL:

Ionis Pharmaceuticals (IONS) closed up +$0.45 to $51.97 and has a negative -$0.40 or -0.77% aftermarket (Friday) indication;

 

The BOTTOM LINE: Maintaining my position, “I am NOT buying into these peaks or … valley’s – I don’t believe either will last.”

Momentum is running sprints, not a distance race; investors need to remain – cautious as September completes the third (Q3) quarter.

Same theme, different session: “Skim if you can trim, buy if it will fly and sell if compelled!”

 

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.