March 2, 2023 7:46am

The Biostage (OTCQB: BSTG) Chronicles: Yet another management game of musical chairs of Chairman(s) and CEO (s) – is that six (6) in six (6) years to also include interim CEOs, presidents and co-presidents; it was bad enough – five (5) with most independent board members resigning, four (4) accounting firms exiting and multiple CFO and controllers leaving. Question: Beijing, China MUST want their own man in place? Notice their change in their development program wording? Also, will he continue the pump (volume)/promote (share price) program?

Pre-open Indications: 5 Positive 1 Sell into Strength and 2 Negative

A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined, evaluated and reported.

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. 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 …

 

Dow futures are UP +0.25% or (+79 points), S&P futures are DOWN -0.31% or (-12 point) and NASDAQ futures are DOWN -0.47% or (-56 points) early in the pre-open – so far

Futures are mixed and slipping on Thursday,

European stock markets are recovering from earlier losses,

Asia-Pacific markets mostly decline.

 

Henry’omics:

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

The S&P 500 and Nasdaq fell for a second straight session on Wednesday as Treasury yields jumped after manufacturing data indicated inflation is likely to remain stubbornly high.

Yesterday, the Dow closed UP +5.14 points (+0.02%); the S&P closed DOWN -18.76 points (-0.47%) while the Nasdaq closed DOWN -76.06 points (-0.66%

Economic Data Docket: jobless claims, and unit labor costs and productivity data

 

Wednesday’s (3/1) … RegMed Investors’ (RMi) closing bell: “the cell/gene therapy sector slumps after mid-day. Fulfilling my concerns and worries of sector equity’s volatility and risk premiums.” … https://www.regmedinvestors.com/articles/12850

RegMed Investors (RMi) Research Note: Upcoming Q4 earnings reporting dates … https://www.regmedinvestors.com/articles/12830

RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … “The cell and gene therapy sector fluctuates in revenues, collaboration, regulatory submissions and expenses, but the changes may alarm investors who prefer to see expectation and consensus stability and share pricing growth” https://www.regmedinvestors.com/articles/12843

 

Ebb and flow:

Q1/23 –

March – 1 negative close

·         February – 1 holiday, 2 vacation, 7 negative and 8 positive closes

·         January – 2 holidays, 11 positive and 9 negative closes

 

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

Positive indications: dollar ($) and cent ($0.00) value and percentage (%)

·         Beam Therapeutics (BEAM) +$0.05 or +0.13%

·         CRISPR Therapeutics (CRSP) +$0.28 or +0.59%

·         Intellia Therapeutics (NTLA) +$3.25 or +7.98%

·         Prime Medicine (PRME) +$0.81 or +4.96%

·         Verve therapeutics (VERV) +$0.81 or +4.45%

Sell into Strength: dollar ($) and cent ($0.00) value and percentage (%)

·         uniQure NV (QURE) +$0.83 or +3.86%

Negative Indications: dollar ($) and cent ($0.00) value and percentage (%)

·         Chinook Therapeutics (KDNY) -$0.40 or -1.74%

·         Caribou Biosciences (CRBU) -$0.13 or -2.16%

 

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

Some value pumps-ups are working, but others are not as electronic trading and algorithms are waiting for a bigger “fish fry”.

·         The sector continues to struggle, recent buy signals and breakouts would likely turn into fake-outs.

·         Investors should not be looking to raise their overall exposure until the S&P 500 and Nasdaq reclaim their 21-day lines.

·         If you wait and the market does improve, some leading stocks will pass you by, but there will plenty of other buying opportunities. <IBD>

The rush of Q4 and FY22 earnings to release is on … I do NOT believe there aren't a lot of cell/gene therapy companies in position yet – UNTIL earnings (Q4 and FY22) are reported – any breakout is a false hope with the inevitable downside re-occurring.

15 of my 35 covered have reported.

I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product.

And I can always be WRONG but, mostly EARLY!

Upcoming Q4 earnings reporting will present challenges to share pricing.

·         Voyager Therapeutics (VYGR) 3/7 – Tuesday

·         Cellectis SA (CLLS) 3/9 - Thursday

·         Agenus (AGEN) 3/14 – Tuesday

 

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.