March 22, 2023 7:35am
To buy, sell, hold or run, investors are looking forward to the latest update from the Fed, at the conclusion of its two-day policy meeting
News: Mesoblast (MESO) part of the ongoing review of the BLA for remestemcel-L in the treatment of children with SR-aGVHD, the U.S. FDA has scheduled a Pre-License Inspection (PLI) of Mesoblast’s cell therapy manufacturing operations at Lonza Bioscience in Singapore.
Pre-open Indications: 2 Positive and 2 Negative Indications
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 +0.12% or (+40 points), S&P futures are UP +0.07% or (+2 point) and NASDAQ futures are DOWN -0.05% or (-6 points) early in the pre-open – so far
Stock futures were fluctuating slightly higher on Wednesday,
European stock markets were higher,
Asia-Pacific markets rose.
Henry’omics:
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Tuesday Indexes rose, the Dow closed UP +316.02 points (+0.98%), the S&P closed UP +51.30 points (+1.30%) while the Nasdaq closed UP +184.57 points (+1.58%)
The sad and bad story continues, “The bankrupt parent company of failed Silicon Valley Bank (SVB) is seeking access to frozen funds from regulators who seized the bank unit and removed $2 billion of its cash. Though the FDIC guaranteed the uninsured deposits at SVB, including the cash deposits of the parent firm, regulators said they had frozen SVB Financial's accounts as part of an ongoing investigation into potential claims against the parent company.” <Daily Mail>
Economic Data Docket: latest MBA mortgage purchase applications reading and the Fed policy decision at 2 p.m.
Tuesday’s (3/21) … RegMed Investors’ (RMi) closing bell: “RegMed Investors’ (RMi) closing bell: an upside after negative actions. Cell and gene therapy equities gain yet, still shuffle with some fluctuating to the downside.” … https://www.regmedinvestors.com/articles/12882
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … “The cell and gene therapy sector fluctuates in revenues, collaboration, regulatory submissions and expenses, but the changes may alarm investors who prefer to see expectation and consensus stability and share pricing growth” … https://www.regmedinvestors.com/articles/12843 --- 26 of 35 (my coverage group)
Ebb and flow:
Q1/23 –
March – 5 positive and 10 negative closes
· February – 1 holiday, 2 vacation, 7 negative and 8 positive closes
· January – 2 holidays, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Negative indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
· Sage Therapeutics (SAGE) closed down -$0.69 with a negative -$954 or -1.25% aftermarket indication
· Verve Therapeutics (VERV) closed up +$0.34 with a negative -$0.19 or -1.14% aftermarket indication,
Positive Indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
· BioLife Solutions (BLFS) closed up =$1.29 with a positive +1.10 or +4.99% aftermarket indication
· CRISPR Therapeutics (CRSP) closed up +$0.60 with a positive +$0.44 or +0.98% pre-open indication.
The BOTTOM LINE: I try to keep it simple and short!
Fed day, Jerome speaks … watch-out share pricing!
Also, the rush of Q4 and FY22 earnings to release is STILL on … I do NOT believe there are not 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.
· 26 of my 35 covered have reported - 9 remaining
· There are more coming – waiting for announcements
· Brainstorm Cell Therapeutics (BCLI) 3/30 - Thursday
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, I am mostly EARLY!
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.
