August 9, 2022 7:52am
Sometimes I feel like Jeremiah, a doomsayer; as I believe there’s a green light to increase resistance
Earnings: Agenus (AGEN), Avrobio (AVRO), Beam Therapeutics (BEAM), BioLife Solutions (BLFS), Ionis Pharmaceuticals (IONS), Verve therapeutics (VERV)
The Biostage (BSTG) Chronicles: yet another CFO, is he the seventh (7th) in five years? - Joseph Damasio
Pre-open indications: 1 Sell into Strength, 6 Today’s Earnings’ Indications, 2 Positive Indications, 3 Negative Indications and 1 Puff/Pump/Promote
RMi outlines a daily bell ringing of “indications” about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
I DEVOTE a HUGE amount of time to “reckoning” the geography of my coverage group - it’s more than opinion, I deal in the facts and numbers that back them up.
The 8:00 A.M., ET edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Dow futures are DOWN -0.09% or (-28 points), S&P futures are DOWN -0.25% (-10 points) and NASDAQ futures are DOWN -0.53% (-72 points) early in the pre-open – so far,
Market futures are falling on Tuesday,
European markets were slightly lower,
Asia-Pacific markets were mixed
Monday, indexes gave-up earlier gains closing basically FLAT on Monday, as investors shifted focus to a key inflation report this week.
The Dow closed UP +28.45 points (+0.09%); the S&P closed DOWN -5.11 points (-0.12%) while the Nasdaq closed DOWN -13.10 points (-0.10%)
Economic Data Docket: The Labor Department's consumer price index will come out early Wednesday. Consumer prices are expected to rise 0.2% in July, down from June's 1.3% jump, per Econoday estimates. Still, inflation is expected to surge 8.7% in July from a year ago, easing from June's 9.1% year-over-year rise. <IBD>
RegMed Investors’ (RMi) closing bell: “sector rebounds from gutter to sidewalk action with lack luster earnings’ results. As I asked this this a.m., “as the upside party rages on, is sector share pricing support solid?” The surge came, purged share pricing and the upside re-surfaced.” … https://www.regmedinvestors.com/articles/12553
Ebb and flow –
Q3/22 – August – 5 positive and 1 negative close
July -1 holiday, 10 negative and 10 positive closes
June – 1 holiday, 9 positive and 11 negative closes
· May - 11 positive and 10 negative closes
· April - 1 holiday, 6 positive and 13 negative closes
· March – 13 negative and 10 positive closes
· February stats: 11 negative, 8 positive closes and 1 holiday
· January stats: 2 holidays, 1 neutral, 13 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Today’s earnings’ Indications: pre-open …
· Agenus (AGEN) -$0.04 or -1.53%
· Avrobio (AVRO) – none
· Beam Therapeutics (BEAM) -$0.13 or -1.20%
· BioLife Solutions (BLFS) +$0.28 or +1.32%
· Ionis Pharmaceuticals (IONS) -$0.65 or -1.42%
· Verve Therapeutics (VERV) -$1.17 or -4.31%
Regenxbio (RGNX) closed down -$0.24 to $34.80 with a positive +$1.20 or +3.45% pre-open indication
Vericel (VCEL) closed down -$0.93 to $29.84 with a positive +$1.49 or +4.99% pre-open indication
Sell into Strength:
Sage Therapeutics (SAGE) closed up +$1.07 to $43.02 with a positive +$0.47 or +1.09% pre-open indication
Intellia Therapeutics (NTLA) closed up +$0.17 to $63.49 with a negative -$2.49 or -3.92% pre-open indication,
MiMedx (MDXG) closed up +$25 to $4.19 with a negative -$0.13 or -3.10% preopen indication,
Sangamo Therapeutics (SGMO) closed up +$0.09 to $5.29 with a negative -$0.23 or -4.35% pre-open indication
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat on Monday with 92 shares traded after Friday’s flat, Thursday’s down -$0.40 to $5.00 with 208 shares traded, Wednesday’s flat and last Tuesday and the previous Monday’s flat traded 0 flats, <3 mo. Average = 1,054 shares>
· Its BOD approved on 7/28 amending and restating their Certificate of Incorporation to affect a reverse split of the issued and outstanding common stock at a ratio of not less than 1-for-1.25 and not greater than 1-for-5. What about all those PPM (private placements) as an offering follows?
· BSTG seems to have the ONLY avenue to finance to utilize non-U.S. Chinese investors? Are we in favor of Beijing funding and continue to control BSTG in our own country? Another question, makes one wonder, Newbridge Securities?
· How much lipstick is a lot on this pig with an almost 4-year-old IND and NO clinical trial initiation?
· WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements as it tries to facilitate an offering with Newbridge Securities?
The BOTTOM LINE: I try to keep it simple … and short!
Earnings, earnings and earnings continue to ramp-up so far this week …
Most reporting sector companies … to date have reported net losses, lagging revenue estimates although a few ... AXGN, FATE, RGNX and NTLA beat on revenues generating forward motion while ATM use is up.
This earnings continuum was overshadowed by Alnylam Pharmaceuticals (ALNY) clinical news and the possibility of Global Blood Therapeutics (GBT) being acquired while many public and private companies are facing conflicting signs of growth.
Sector equity pricing are trending in a roller coaster fashion. Also, consensus expectations are low.
We always need a … villain and they are multiplying – low volume as “Earnings’ season is here and now, investors NEED to focus on LPS (loss-per-share), trial status, product revenues, collaboration revenues and cash positions i.e., runways”.
This week: Brainstorm Cell Therapeutics on 8/15, Monday … to date.
As I have written, “It’s STILL nice to be RIGHT” about the direction of the sector having “DEVOTED a HUGE amount of time to “reckoning” the geography of my coverage group.”
Whether information or intelligence is good, bad or somewhere in between; 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.
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 securities referred to in this publication.