September 30, 2020 8:23am

Was not an egg but, a cannon that fired and fell off a battlement and was unable to be saved; the rhyme symbolized Tuesday’s debate actions and reveal more uncertainty of the election process

Pre-open indications: 7 SELLs into Strength and news

News: Regenxbio (RGNX) expanded its RGX-121 program for the treatment of Mucopolysaccharidosis Type II (MPS II), also known as Hunter Syndrome, to gain additional insight into the neurodegenerative manifestations of the disease and evaluate RGX-121 in a broader patient population. RGX-121 is an investigational one-time gene therapy, designed to use the AAV9 vector to deliver the gene that encodes the iduronate-2-sulfatase (I2S) enzyme directly to the central nervous system (CNS) through intracisternal administration. Alnylam Pharmaceuticals (ALNY) released positive topline results from the ILLUMINATE-B pediatric P3 study of lumasiran, an investigational RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1) –

What I provide is an “intelligence daily” to ensure that shareholders are kept apprised based on a 24-hour surveillance of “our” universe, the RegMed/cell and gene therapy sector and its surrounding markets

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 DOWN -0.70% (-191 points), S&P futures are DOWN -0.59% (-20 points) and NASDAQ futures are DOWN -0.67% (-76 points)

 

U.S. stock futures declined early Wednesday as a contentious U.S. presidential debate raised more uncertainty around the election;

European stocks bounced as investors reacted to the U.S. presidential debate, and gauged the investment landscape amid the coronavirus crisis as the pan-European Stoxx 600 edged -0.1% lower in early trade;

Asia-Pacific stocks were mixed as investors react to China’s manufacturing activity data and U.S. presidential debate; markets in South Korea were closed for a holiday and the MSCI Asia ex-Japan index was near flat, about +0.05% higher.

 

Data Docket: China’s official manufacturing Purchasing Managers’ Index (PMI) for September came in at 51.5 on Wednesday as compared to 51.0 in August, according to the country’s National Bureau of Statistics.

 

Henry’omics:

The market headed for its first negative month since March.

The debate created more uncertainty in the election process… most people come away from it thinking it was an ugly experience,

Traders were hoping that the start of the debate process will lead to a clear winner on Election Day and not a drawn-out electoral process that could hit the market.

In the ring of cage fighters last night: the first debate of verbal "fisticuffs" did little to ease those concerns. Yet - I have MY OWN views which will remain in my WALLET!

 

Tuesday night’s post: RegMed Investors’ (RMi) closing bell: “slippin’ and slidin’ …https://www.regmedinvestors.com/articles/11567

  • The Nasdaq closed DOWN -32.28 points (-0.29 %);
  • The IBB closed up +0.10% and XBI closed up +0.68%;
  • Sector volume was extremely LOW with 0 of the 16-upside having higher than the 3-month average volume with the 2 of 18-downside having higher than the 3-month average volume;
  • The CBOE Volatility Index (VVIX: INDEX) was up +0.08 points or +0.31% at 26.27;
  • Tuesday’s percentage (%) of the 16-upside was +0.32% (CLLS) to +6.64% (PSTI) while the 18-downside ranges from -0.20% (SGMO) to -10.92% (BSTG); 

 Q3 so far:

  • September, 1 neutral, 7 positive and 12 negative closes with 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 -$0.19 to $1.55 after Monday’s +$0.04 to $1.74, Friday’s +$0.19 to $1.70, Thursday’s -$0.22 to $1.51 and last Wednesday’s +$0.22 to $1.73. Question#1: WHAT is being done about BSTG’s market cap dropping from $34.13 million (3/31/2020) to $13.58 million (9/29/2020)? Question#2: Was HONG Yu such a VERY good neighbor of the major shareholder, Mrs. bin Zhao in Weston, Mass. of DST Capital to be made president; has he not TRIMMED the share pricing and market cap while employees flocked to the exit doors?

 

Maintaining SELL into Strength:

Brainstorm Cell Therapeutics (BCLI) closed up +$0.24 to $16.19 after Monday’s $15.95, Friday’s $14.95, Thursday’s $14.19 and last Wednesday’s $13.98 and has a negative -$0.10 or -0.62% aftermarket indication. Chart is “peaky” and has a 52-week +311.08% - time to let “some” go;

BioLife Solutions (BLFS) closed up again +$1.63 to $28.66 after Monday’s +$0.78 to $27.03, Friday’s $26.25, Thursday’ $26.10 and last Wednesday’s $27.18 with NO aftermarket indication. Chart is “peaky” and has a 52-week +57.85% - time to let some go;

Mesoblast (MESO) closed down -$0.25 to $19.19 after Monday’s $19.4, Friday’s $17.54, Thursday’s $17.18 and last Wednesday’s $17.55 with a positive +$0.31 or +1.62% aftermarket indication;

CRISPR Therapeutics (CRSP) closed up +$1.30 to $84.99 after Monday’s -$0.40 to $83.69 after Friday’s $84.09, Thursday’s $83.31, Wednesday’s $84.69 and last Tuesday’s $88.81 and has a negative -$0.19 or -0.22% aftermarket indication.

 

SELL into News:

Regenxbio (RGNX) closed up +$0.55 to $27.91 and this a.m. had news of expanding its RGX-121 program for the treatment of Mucopolysaccharidosis Type II (MPS II), also known as Hunter Syndrome, to gain additional insight into the neurodegenerative manifestations of the disease and evaluate RGX-121 in a broader patient population

Alnylam Pharmaceuticals (ALNY) closed up +$5.20 to $145.01 released positive topline results from the ILLUMINATE-B pediatric P3 study of lumasiran, an investigational RNAi therapeutic targeting hydroxyacid oxidase 1 (HAO1) – the gene encoding glycolate oxidase (GO) – in development for the treatment of primary hyperoxaluria type 1 (PH1). ILLUMINATE-B is now the seventh P3 study of an RNAi therapeutic that has yielded positive results, and the first-ever study evaluating the safety and efficacy of this new class of medicines in children under the age of six, including infants.

 

The BOTTOM LINE:  Reiterating, “I hate to say it, but I’m still telling sector investors that these new highs are fleeting.” Stick by indications … ignore election rhetoric!

 

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.