April 4, 2023 4:38pm

It’s nice to be RIGHT, yet again about the direction of the sector as I DEVOTE a HUGE amount of time to discern the geography of my coverage group

A big outflow of share pricing as slowing economy, JOLTS and weak factory orders help to crash indexes

Pre-open Indications: 3 Hits and 1 Miss

News: Precigen (PGEN) and Caribou Therapeutics (CRBU) <see more below>

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about - truth!  

Subscription is coming, it is 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, operating executive, adjunct (MBA) business school professor 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 -198.11 points (-0.59%), the S&P closed DOWN -28.83 points (-0.58%) while the Nasdaq closed DOWN -63.13 points (-0.52%)

 

Henry’omics:

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

Indexes fell after factory orders fell more than expected, down 0.7% in February vs. a 0.4% estimated fall and the Labor Department's job openings and turnover survey, or JOLTS.

Economic Data Docket: Job openings plunged in February; available positions fell to 9.93 million for the month, down more than 600,000 from January and well below the FactSet estimate of 10.4 million, according to a Labor Department report Tuesday. The decline marked the first-time openings were below 10 million since May 2021. Separations and hires also both moved lower though quits rose to just over 4 million.

 

RegMed Investors’ (RMi) pre-open: “warning. Pricing, it’s complicated by just about everything.” … https://www.regmedinvestors.com/articles/12901

 

News:

·         Caribou Biosciences (CRBU -$0.26) the U.S. FDA has granted Fast Track designation to CB-011, which is being developed for relapsed or refractory multiple myeloma (r/r MM). CB-011 is being evaluated in the company’s ongoing CaMMouflage Phase 1 clinical trial in patients with r/r MM. “Fast Track designation for CB-011 allows us instrumental interactions with the FDA as we progress our clinical development and regulatory plans for CB-011.

·         Precigen (PGEN -$0.09) announced the amendment of its exclusive license agreement regaining exclusive rights to IL-12 gene therapy, including application through the AdenoVerse™ platform with Alaunos Therapeutics, Inc. PGEN has now unencumbered development and commercialization of two proven CAR-T targets, CD19 and B-cell maturation antigen (BCMA). These targets enhance PGEN's UltraCAR-T library approach for cancer patients through the development and validation of a library of non-viral plasmids to target various hematological and solid tumor-associated antigens.

 

Pre-open Indications: 3 Hits < BioLife Solutions (BLFS +$0.08), Ultragenyx (RARE -$0.34), Voyager Therapeutics (VYGR -$0.41)> and 1 Miss < Intellia Therapeutics (NTLA -$0.91)>  

 

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

  • Tuesday’s advance/decline line opened negative at 5 up/ 28 down and 2 flats, stayed negative with 5 up/ 28 down and 2 flats at the mid-day, ending with a negative close of 5/28 and 2 flat
  • Monday’s advance/decline line opened negative at 16 up/ 19 down and 1 flat, stayed negative with 14 up/ 21 down and 0 flat at the mid-day, ending with a negative close of 16/19 and 0 flat

 

RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … https://www.regmedinvestors.com/articles/12843 - 31 of 35 – added BCLI, ADVM, BLUE and BSTG

 

Key Metrics:

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

  • Tuesday, the IBB was down -0.70% and the XBI was down -1.91%
  • Monday, the IBB was up +0.47% and the XBI was up +1.13%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up+0.58 points or +3.13% at 19.13
  • Monday was down -0.07 points or -0.37% at 18.63

 

Closing Down (10 of 28):

  • CRISPR Therapeutics (CRSP -$1.57),
  • Sage Therapeutics (SAGE -$1.54 after Monday’s +$0.23),
  • Verve Therapeutics (VERV -$1.04),
  • Intellia Therapeutics (NTLA -$0.91 after Monday’s -$0.18),
  • Chinook Therapeutics (KDNY -$0.69 after Monday’s -$0.11),
  • Beam Therapeutics (BEAM -$0.56 after Monday’s -$0.49),
  • Vericel (VCEL -$0.42 after Monday’s +$0.11),
  • Voyager Therapeutics (VYGR -$0.41 after Monday’s +$0.41),
  • uniQure NV (QURE -$0.35),
  • Prime Medicine (PRME -$0.35 after Monday’s -$0.31),

Flat (2):

  • Biostage (OTCQB: BSTG)
  • Ionis pharmaceuticals (IONS)

Closing Up (5 of 5):

  • Alnylam Pharmaceuticals (ALNY +$2.00 after Monday’s +$0.38),
  • AxoGen (AXGN +$0.29),
  • BioLife Solutions (BLFS +$0.08),
  • Homology Medicine (FIXX +$0.01)
  • Adverum Biotechnologies (ADVM +$0.0072)

 

Q2/23 – April

  • Tuesday closed negative with 5 incliner, 28 decliners and 2 flats
  • Monday closed negative with 16 incliner, 19 decliners and 0 flat

 

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

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

Timing of share pricing advances has been inopportune since the Silicon Valley Bank (SVB) decline and follow-on depositor turmoil.

News of the day was more focused on X-President Trump’s day in court in NYC, NY – a BAD joke of infinite proportion!

April is typically a good month as investors look to the Q2 and move past tax season, among other reasons. It’s historically been the second-best month of the year for the S&P 500 and fourth best for the Nasdaq.

The rush of Q4 and FY22 earnings to release has slowed as … 31 of my 35 covered have reported.

·         Brainstorm Cell Therapeutics (BCLI – FY22 only), Adverum Biotechnologies (ADVM Q4 and FY22) and Biostage (OTCQB: BSTG – FY22 only) reported losses last week,

·         Four (4) more releases forthcoming of my 35 covered companies

WHY (?) do I keep posting, so investors can get a daily update of the sector's share pricing and some individual companies TRUTHS while electronic trading chews on our portfolio edges.

Remember, there are four (4) phases of the stock cycle: accumulation; markup; distribution; and markdown.

I am definitely considered a contrarian depending on the session – one has to be a watcher of the ups and downs as well as measurer of sentiment. I am also a NO trust investor but, a validate and verify journalist/analyst.

The NO spin zone!

Biostage (OTCQB: BSTG) – still pumping the volume and to promote the share price!!

Tuesday closed flat with 88 shares traded after Monday closed down -$0.27 with 2,148 shares traded after Friday closed up +$0.30 with 1,583 shares traded after Thursday closed up +$0.05 with 2,298 shares traded after Wednesday closed up +$0.16 with 1,200 shares traded, after last Tuesday closed down -$0.51 with 3,895 shares traded <3-month average volume = 1,775 shares>

·         Question: Review the number of shares traded … is OTCQB: BSTG a Ponzi scheme (with their pump/promote buy and sell agenda) as shares are bought to replace those sold??

·         Where is the SEC??

·         NEW Auditors STILL DETERMINED there is substantial doubt about the company’s ability to continue, an assessment of the company’s viability over the next year.

·         As OTCQB: BSTG continues as an “going concern”!

·         In the title, says it all: loss, losses and more losses – with NO capacity to FINANCE with US investors – example, what analysts are following the company? - NONE

 

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.