January 19, 2023 4:59pm

As investors nose into Q4 earnings reporting with economic data and federal debt limits influencing news

Pre-Open Indication: 4 Hits and 0 Miss

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.

If I have learned one thing as a former research analyst in a venture and public fund now a journalist; it is that your life and your portfolio are largely tied to your knowledge of price movements and questioning pricing targets.

 

The Dow closed DOWN -252.40 points (-0.76%), the S&P closed DOWN -30.01 points (-0.76%) while the Nasdaq closed DOWN -104.74 points (-0.96%)

 

Henry’omics:

We need to more than consider the recessionary environment - rising rates and high inflation to comprehend the micro re “our” universe of cell and gene therapy companies

Indexes fell Thursday as investors grew increasingly concerned the Fed will keep raising rates.

All of the major averages are on pace for a negative week in three. This week, t Dow is down 3.67%, while the S&P and Nasdaq have each lost more than 2%.

Economic Data Docket: Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 190,000 for the week ended Jan. 14 <labor department>

 

Thursday’s … RegMed Investor’s (RMi) Pre-Open: “the path forward is bumpy and there is a headwind from economic data that enhances inflation and recession fears.” … https://www.regmedinvestors.com/articles/12792

 

Pre-Open Indications: 4 hits < Beam Therapeutics (BEAM -$2.10), CRISPR Therapeutics (CRSP -$2.88), Intellia Therapeutics (NTLA -$2.78), uniQure NV (QURE -$1.12) > and 0 Miss

 

RegMed/Stem/Cell and Gene Therapy’s 35 covered equities’ Advance/Decline (A/D) lines: what happened – quite a difference

  • Thursday’s advance/decline line opened negative at 7 up/ 27 down and 1 flat, stayed negative with 12 up/ 22 down and 1 flat at the mid-day, ending with a negative close of 9/23 and 3 flats.

 

Key Metrics:

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

  • Thursday, the IBB was down -0.89% and the XBI was down -1.04%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was up +0.02 points or +0.10% at 20.36

 

Closing Down (10 of 23):

  • Alnylam Pharmaceuticals (ALNY -$3.25 after Wednesday’s -$1.92, Tuesday’s -$1.80 and Monday’s holiday),
  • CRISPR Therapeutics (CRSP -$2.88 after Wednesday’s -$1.22 and Tuesday’s +$1.83),
  • Intellia Therapeutics (NTLA -$2.78 after Wednesday’s -$0.97 and Tuesday’s -$0.59),
  • Beam Therapeutics (BEAM -$2.10 after Wednesday’s +$0.06, Tuesday’s +$1.21 and Monday’s holiday),
  • Sage Therapeutics (SAGE -$1.39),
  • Verve Therapeutics (VERV -$1.31 after Wednesday’s -$1.13, Tuesday’s +$0.32 and Monday’s holiday),
  • Ultragenyx (RARE -$1.12 after Wednesday’s +$0.12 and Tuesday’s -$1.05),
  • uniQure NV (QURE -$0.87),
  • Vericel (VCEL -$0.60),
  • Compass Therapeutics (CMPX -$0.46 after Wednesday’s -$0.79),

Flat (3):

  • Biostage (OTCQB: BSTG),
  • Homology Medicine (FIXX)
  • MiMedx (MDXG),

Closing Up (9 of 9):

  • Ionis Pharmaceuticals (IONS +$0.76 after Wednesday’s +$0.02),
  • AxoGen (AXGN +$0.52 after Wednesday’s -$0.78, Tuesday’s -$0.21 and Monday’s holiday),
  • Voyager Therapeutics (VYGR +$0.22 after Wednesday’s +$0.03 and Tuesday’s -$1.57),
  • Prime Medicine (PRME +$0.20),
  • Bellicum Pharmaceuticals (BLCM +$0.14 after Wednesday’s +$0.10),
  • Agenus (AGEN +$0.07),
  • Avrobio (AVRO +$0.04),
  • Adverum Biotechnologies (ADVM +$0.01),
  • Brainstorm Cell Therapeutics (BCLI +$0.01),

 

Q1/23 – January

  • Thursday closed negative with 9 incliner, 23 decliners and 3 flats
  • Wednesday closed negative with 8 incliner, 27 decliners and 0 flat
  • Tuesday closed negative with 14 incliner, 20 decliners and 1 flat
  • Monday was a market holiday

 

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

From Wednesday, “My guide to 'good news seems to be bad news' and 'bad news is good news. 'In normal times, no one really questions whether good news in the economy is actually good.”

Reiterating, 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.

 

There are VERY clear losers today … Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Intellia Therapeutics (NTLA)

… With winners … Ionis Pharmaceuticals (IONS), AxoGen (AXGN) and Voyager Therapeutics (VYGR)

 

Avrobio (AVRO closed up +$0.04 with 303,682 share traded after Wednesday’s -$0.0402 with 212,461 shares traded, Tuesday’s -$0.0098 to $0.89 with 273,903 shares traded, Monday’s holiday and Friday’s +$0.0251 to $0.92 with 139,678 shares traded, Thursday’s+$0.0447 with 71,210 shares traded and last Wednesday’s - $0.0198 with 95,425 shares traded. <3-month average = 345,872 shares>

The many sessions since acknowledging the de-listing “issue” say a lot of addressing the NASDAQ issue <is their investment bank buying the shares?> as AVRO filed a S-3 for $250 million common stock, preferred stock, debt securities, warrants and unit offering within draft prospectus by Cowen as stock sinks while de-listing continues?

Just another “screw-job” of investors! < Read, SELL and Weep - see hyperlink below>

Avrobio (AVRO) files S-3 (Registration Statement) for offering with draft prospectus by Cowen … https://investors.avrobio.com/node/9116/html

·         Also, RA Capital has sold its position in the company – a sign of dissatisfaction!

·         While, President, CEO and director Geoff Mackay carries home a HUGE salary of $754.39 K per year?

 

Biostage (OTCQB: BSTG) closed flat with 32 shares traded after Wednesday’s -$0.07 with 421 shares traded, Tuesday’s up +$0.60 with 3,047 shares traded, Monday’s holiday and Friday’s flat with 0 shares traded and last Thursday’s +$0.08 with 671 shares traded <3-month average volume =1,360 shares>

·         Review the trading pricing and volume versus the pump/promote agenda – somethings “wrong in Denmark” that’s Beijing, China for you – not following USA rules!!

·         This IND – now almost 4 years old without a clinical trial that will last 3-5 years for ADULT patients before BSTG can EVEN consider a pediatric venue!!

·         They hired a CRO; hope they PAY them after all the difficulties the previous CRO went through and the same individuals are in charge!

·         Question; is this a Ponzi scheme as shares are bought to replace those sold??

 My question that resounds, that should be asked is how many companies are at the end of sentiments …  leash?

 

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.

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.