June 24, 2021 5:26pm

Pre-open indications: 4 HITs and 3 MISS

The Biostage (BSTG) Chronicles: Response from the annual meeting on Thursday 6/24/21, more dilution is their ONLY solution in financing the future <read more>

My comments try to distinguish the temporary from real pricing digression or progress.

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The Dow closed UP +322.58 points (+0.95%); the S&P closed UP +24.65 points (0.58%) while the Nasdaq closed UP +97.98 points (0.69%)

 

Henry’omics:

Indexes were spurting the close while the cell and gene therapy sector ran alongside with another positive advance/decline (A/D) line.

Nasdaq and S&P reached another record with the Dow just beneath their record.

This morning’s jobs data missed the estimate totaling 411 K versus estimate of 380K.

 

RegMed Investors’ (RMi) pre-open: “vulnerable to volatility post highs. Reduce risk by selling partial positions into highs” … https://www.regmedinvestors.com/articles/11970

 

RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines:

  • Thursday opened positive at 27/5, 2 flats and 1 acquired, stayed positive at the mid-day to 25/7, 2 flats and 1 acquired, closing positive at 28/5, 1 flat and 1 acquired;

 

The Biostage (BSTG) Chronicles: The “pump” is STILL TRYING to promote on Thursday as 1,920 shares traded to “putt” the share price at $0.10 to $1.35 after Wednesday’s share price popping and then dropping -$0.05 to $1.25 with 11,915 shares traded, Tuesday with the share price INFLATED +$0.09 with 4,779 shares trading, Monday closed flat at $1.21 with 572 shares traded following Friday closing flat at $1.21 with 333 shares traded and last Thursday’s volume of 735 shares dropping the price -$0.09 to $1.21 … WHO is buying this “zombie” as IF we didn’t know? BSTG NEEDED to “pump” the share price for today’s annual meeting which approved yet another warrant execution and EVER-increasing dilution!

Response from the annual meeting on Thursday 6/24/21:  more dilution is their ONLY solution in financing as warrants get exercised to increase unregistered shares in private, private placement with DST Capital as the share price jumps with “promote/purchase” initiatives … https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&ref=115957997&type=HTML&formType=SC+13D%2FA&dateFiled=2021-06-23&cik=0001563665&CK=1563665&symbol=0001563665&companyName=Biostage

 

Pre-open Indications: 4 HITs < Applied Genetic Technologies (AGTC +$0.15), Editas Medicine (EDIT +$3.05), Intellia Therapeutics (NTLA +$3.25), CRISPR Therapeutics (CRSP +$7.20)> and 3 MISS < Biostage (BSTG +$0.10), Cellectis SA (CLLS +$0.71 Alnylam Pharmaceuticals (ALNY -$0.95)),>  

 

RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results: https://www.regmedinvestors.com/articles/11628

 

There are clear winners and losers

Jumping with share pricing momentum:

  • CRISPR Therapeutics (CRSP) – again, Intellia therapeutics (NTLA) – again, Editas Medicine (EDIT), Regenxbio (RGNX), Fate Therapeutics (FATE) – again to name 5 of the 28 inclining of the 35 covered

Hammered in today’s market:

  • ReNeuron (RENE.L) – another again, Alnylam Pharmaceuticals (ALNY), Ultragenyx (RARE) - again, Solid Biosciences (SLDB), bluebird bio (BLUE) – again to name 5 of the 5 declining of the 35 covered

 

Key metrics:

  • Sector volume was LOW with 8 of the 28-upside having higher than the 3-month average volume with HIGH volume of 4 of 5-downside having higher than the 3-month average volume;
  • Thursday’s percentage (%) of the 28-upside were +0.45% (MDXG) to +8.06% (EDIT) while the 5-downside ranges from -0.12% (BLUE) to -4.78% (RENE.L);

 

Thursday’s (10 of 28) incliners:

  • CRISPR Therapeutics (CRSP +$7.20 after Wednesday’s +$1.48);
  • Intellia therapeutics (NTLA +$3.25 after Wednesday’s +$4.68);
  • Editas Medicine (EDIT +$3.05 after Wednesday’s +$1.41, Tuesday’s -$0.45 and Monday’s +$0.98);
  • Regenxbio (RGNX +$1.73 after Wednesday’s +$0.39);
  • Fate Therapeutics (FATE +$1.31 after Wednesday’s +$2.11, Tuesday’s -$0.48 and Monday’s +$1.67);
  • Vericel (VCEL +$0.97 after Wednesday’s +$3.73);
  • Global Blood Therapeutics (GBT +$0.76 after Wednesday’s -$0.34 and Tuesday’s -$0.67);
  • Cellectis SA (CLLS +$0.69);
  • Ionis Pharmaceuticals (IONS +$0.66);
  • Sage Therapeutics (SAGE +$0.63 after Wednesday’s +$0.69, Tuesday’s -$1.75 and Monday’s +$0.56);

Thursday’s (5 of 5) decliners:

  • ReNeuron (RENE.L -$5.50 after Wednesday’s -$2.50 and Tuesday’s -$5.55);
  • Alnylam Pharmaceuticals (ALNY -$0.95 after Wednesday’s +$1.68, Tuesday’s +$1.69 and Monday’s -$5.63);
  • Ultragenyx (RARE -$0.52 after Wednesday’s -$1.05, Tuesday’s -$0.72 and Monday’s +$0.57);
  • Solid Biosciences (SLDB -$0.04);
  • blue bird bio (BLUE -$0.04 after Wednesday’s -$0.41);

Closing 1 -Caladrius Biosciences (CLBS) and 1 -Stemline Therapeutics (STML – acquired)

 

Stats:

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

  • Thursday, the IBB closed down -0.79% and XBI closed up +2.22%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was down -0.35 points or -2.14% at 15.97

Upside volume: 

  • Thursday: 8 out of the 28-upside had higher than the 3-month average volume;

Downside volume:

  • Thursday: 4 out of the 5-downside had higher than the 3-month average volume;

Percentage (%) movement/range statistics: price versus percentage …

  • Thursday’s percentage (%) of the 28-upside were +0.45% (MDXG) to +8.06% (EDIT) while the 5-downside ranges from -0.12% (BLUE) to -4.78% (RENE.L);

June, third month of Q2/21:

Thursday closed positive with 28 advancers, 5 decliners, 1 flat and 1 acquired

Wednesday positive with 25 advancers, 9 decliners and 1 acquired

Tuesday closed negative with 9 advancers, 25 decliners and 1 acquired

Monday closed positive with 16 advancers, 15 decliners, 3 flats and 1 acquired

 

The BOTTOM LINE: I am hearing and seeing “buy the rumor and sell the news” in my cell and gene therapy sector.

In a Thursday session, advancing issues outnumbered declining ones.

As I stated this a.m. – a cautious outlook … don’t get complacent … WHO has presented clinical data: Alnylam Pharmaceuticals (ALNY -$0.95) and the stock dropped even after a pre-market $2.22 estimate as the stock closed down, Thursday Applied Genetic Technologies (AGTC) had a +$0.48 pre-market yet closed only +$0.15 after a 12-month data present.

I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”

 

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.