August 20, 2021 7:43am
A “witching: option expiration today
News: Fate Therapeutics (FATE) unveiled mixed results for its lymphoma treatment late Thursday, and the share price crumbled (-$8.63 or -10.08%) in the pre-open. Six patients in two groups treated with the drug, FT516, achieved complete responses, meaning they showed no detectable signs of cancer. However, cancer returned and worsened for two of those patients roughly four to five months later. Another patient who experienced a partial response — meaning the cancer partially disappeared — had to receive an additional anti-cancer treatment about four months later.
Pre-open indications: SELLs: 3; BUYs: 2; Maintain SELL: 1
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Dow futures are DOWN -0.38% (-132 points), S&P futures are DOWN -0.36% (-16 point) and NASDAQ futures are also DOWN -0.16% (-25 points)
Stock futures were lower on Friday as the markets closes-out a losing week driven by doubts,
European stocks turned lower
Asia-Pacific stocks fell after China left its benchmark lending rate unchanged.
Its Friday, usually and escape day in the summer … but, options expiration happens today!
All three major stock indexes are on track to close the week lower. The S&P 500 and the Dow are both on track to post their worst weekly performances since June, while the Nasdaq is set to see its worst week since May.
If you didn’t know what happen at last night’s close and the quarter’s “number’s” impact, you won’t be prepared for today’s session:
- Thursday’s evening’s recap: “RegMed Investors’ (RMi) closing bell: a bubblicious session” … https://www.regmedinvestors.com/articles/12058
- the Nasdaq closed UP +15.87 points (+0.11%);
- the IBB closed down -2.21% and XBI closed down -2.40%;
- Sector volume was LOW with 0 of the 4-upside having higher than the 3-month average volume with very LOW volume of 5 of 28-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +0.10 points or +0.46% at 21.67;
- Thursday’s percentage (%) of the 4-upside were +0.57% (VCEL) to +4.36% (BLFS) while the 28-downside -0.27% (ALNY) to -8.52% (RGNX);
- August: 6 positive and 8 negative close
- July: 6 positives, 1 holiday and 15 negative closes
- June: 15 positive and 8 negative closes
- May: 8 positive, 12 negative closes and 1 holiday
- April: 11 negative and 10 positive closes
- March: 10 positive, 12 negative and 1 neutral closes
- February: 9 positive, 10 negative closes and 1 holiday
- January: 10 positive, 9 negative closes and 1 holiday
Q2/21 Earnings releases … https://www.regmedinvestors.com/articles/11542 … to date:
Companies in my headlights – It’s your decision; I provide an idea and context:
The Biostage (BSTG) Chronicles - Maintaining Sell – notice how the shares trade with and without being “pumped/promoted”?
Biostage (BSTG) closed flat with 50 shares traded after Wednesday’s -$0.10 with 739 shares traded, Tuesday’s flat with 1 share traded, Monday’s -$0.22 to $1.38 with 135 shares traded and last Friday with 10 shares traded.
The Bottom-Line Question: WHAT is the end game or play-book for this company, it has NOT done ANYTHING to monetize their asset of an approved IND foe a year and a half with NO clinical trial initiative … so WHAT is the value proposition WHEN they’re BROKE?
MINORITY PUBLIC shareholders are waiting for the specific time, watching and weighing responses to MAINTAIN their RIGHTS.
Pre-open Indications: looking bleak …
Verastem (VSTM) closed down -$0.07 and has a positive +$0.05 or +1.923% aftermarket indication;
CRISPR Therapeutics (CTSP) closed down -$2.53 and has a positive +0.21 or +0.18% pre-market indication,
Ionis Pharmaceuticals (IONS) closed down -$0.19 and has a positive +$0.16 or +0.42% pre-open,
Editas Medicine (EDIT) closed down -$1.88 and has a negative -$0.25 or -0.43% pre-market indication,
Fate Therapeutics (FATE) closed down -$5.37 and has a negative -$8.63 or -10.08% pre-market indication,
Intellia Therapeutics (NTLA) closed down -$8.36 and has a negative -$1.07 or -0.74% pre-market indication;
The BOTTOM LINE: When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started
The alternating cycle of being oversold is the ability to be overbought after multiple sessions
Investors are worried that the clinical advances are in-short supply although 2024 seems to be the usual runway length and timing.
Some earnings’ Reports Outstanding:
- Applied Genetic Technologies (AGTC), Mesoblast (MESO), Pluristem (PSTI) and Pluristem (PSTI), ReNeuron (RENE.L)
Risk is no doubt increasing as we traverse through the month of August …
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is all but over … my advice, take a chance, roll the dice and then be ready to skim any new highs!”
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
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.
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.