January 10, 2023 7:41am

Day #2 of JPMorgan healthcare conference. WHERE is the platform focus in 2023, as some gene editors are experiencing regulatory bumps with share pricing PAIN that is NOT likely to be solved in the short-term. The real question is there a reset to platform development? Share pricing is SUSPECT as it has been dependent on sentiment which has resided in the toilet and managed by algorithmic electronic trading.

News: BrainStorm Cell Therapeutics (BCLI -$0.04 pre-open indication) will donate biospecimens from NurOwn's placebo-controlled P3 ALS trial to the Northeast Amyotrophic Lateral Sclerosis Consortium (NEALS) biorepository for use by the research community. The specimens are being submitted to the biorepository in connection with a $500,000 grant previously awarded to BCLI by The ALS Association and I AM ALS, to support biomarker research.

Pre-open Indication: 3 Positive Indications and 4 Negative Indications

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others won’t say or write about - truth! Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors!  Join me … in the NO spin zone.

The 8:00 a.m. 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 -0.45% or (-149 points), S&P futures are DOWN -0.49% or (-19 point) and NASDAQ futures are DOWN -0.70% or (-78 points) early in the pre-open – so far

Stock futures are dropping on Tuesday, January 10, 2023, awaiting U.S. Fed Chair Powell’s speech as a clue on the trajectory of interest rate slater in the day,

European markets retreated,

Asia-Pacific markets trade mixed.

 

Henry’omics:

We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …

Monday marks the fifth trading day of 2023 and the advent of the JP Morgan healthcare conference attendance after covid cancellations.

Indexes were mixed as the Dow and S&P reversed early gains on Monday as traders added to bets that inflation may be easing following a chaotic week with the Dow and S&P 500 posting their best weeks since November.

  • Yesterday, the Dow closed DOWN -112.96 points (-0.34%), the S&P closed DOWN -2.99 points (-0.08%) while the Nasdaq closed UP +66.36 points (+0.63%)

Economic Data Docket: wholesale trade data and will be monitoring a speech by Fed chair Powell at a conference in Sweden.

December’s consumer price index report is due out Thursday, followed by big bank earnings on Friday. Nearer term, the New York Fed Survey of Consumer Expectations along with consumer credit data are due out Monday. Wall Street will also hear commentary from Atlanta Fed President Raphael Bostic.

 

Monday’s (1/9) … RegMed Investors’ (RMi) closing bell: “JPM23 rippled share pricing with most positive equities inching upward. As I stated the a.m., “will JPM23 stimulate or just ripple share pricing (?)”. As the sector’s pricing opened down and jockeyed plus and loss <advance decline line of 17/18, 18/17, 17/18 all through mid-afternoon eventually the cell and gene therapy sector closed negative.” … https://www.regmedinvestors.com/articles/12778

Ebb and flow:

Q1/23 – 1 holiday, 2 positive and 3 negative closes

Q4

·         December – 1 holiday, 13 negative and 8 positive closes

·         November -1 holiday, 14 negative and 8 positive closes

·         October -1 neutral, 11 positive and 9 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS

Positive Indications:

Verve Therapeutics (VERV) closed down -$0.26 to $20.118 with a positive +$0.82 or +4.06% aftermarket indication,

Regenxbio (RGNX) closed down -$0.99 to $21.86 with a positive +$1.02 or +4.67% aftermarket indication,

Voyager Therapeutics (VYGR) closed up +$0.04 to $7.00 after Friday’s +$0.67 to $6.96 and Thursday’s +$0.29 with a positive +$0.16 or +2.29% pre-open indication on Monday’s news of a new strategic collaboration to advance multiple gene therapies for the treatment of neurological diseases. VYGR receive up-front consideration of $175 million including a $39 million equity investment, up to $1.5 billion in potential development milestones, additional potential commercial milestones, tiered royalties on net sales, program funding, and an option to elect 50/50 cost- and profit-sharing in the U.S. for the GBA1 program following Phase 1 readout -

 

Negative Indications:

Avrobio (AVRO) closed up +$0.0179 to $0.85 with a negative -$0.04 or -4.69% aftermarket indication as below $1.00 delisting sessions continues

uniQure NV (QURE) closed down -$1.91 to $21.06 after Friday’s +$0.44 with a negative -$1.06 or -5.03% pre-open indication,

Sage Therapeutics (SAGE) closed down -$0.46 to $39.83 after Friday’s +$0.95 after Thursday’s +$0.18 with a negative -$0.80 or -2.01% aftermarket indication

Vericel (VCEL) closed down -$0.03 to $23.85 with a negative -$0.60 or -2.52% aftermarket indication,

 

The BOTTOM LINE: I try to keep it simple and short!

Monday’s sector slipped after Friday’s flip to the upside – barely after Thursday’s downside … following the jobs report stimulated the economics of the market and sector to a “hiking” mode.

Market “conditions” are so dependent on economics and algorithmic electronic trading; it’s HARD to define ANY semblance of continuous upside or forward motion.

“There is the 800-pound gorilla in the room. The central bank. The Federal Reserve and their either overt intention to force this recession or quite simply, their inability to cogently interpret economic conditions in anything approaching real-time.” <TheStreeet>

Although, what STILL makes me NERVOUS and ANXIOUS about 2023 is short-term momentum as Q4 earnings are due to be released mid-January and into February which will out share pricing into a gauntlet.

The “glitter” of JPM’s healthcare Conference<next week> has been highlighting “disparities” of the sector!

My interpretation of the morning’s numbers is written to be informative; it’s built on will happen behind the headlines today, not tomorrow or yesterday

Reiterating, “As 2023 trading begins, some investors think the pain is far from over; I agree for Q1 as earnings releases could hinder share pricing however, once through that “gauntlet” – we could see a bit of a smoother road in Q2/2023 hoping for a few clinical results and successful financings – well needed for more than usual companies.”

“Don't act like the market is in an uptrend until the market is actually in an uptrend”.

Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment,

 

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.