June 1, 2023 7:54am

As the debt ceiling bill passes the House advancing to the Senate

News: Ionis Pharmaceuticals (IONS +$0.35 pre-open) announced positive clinical progress with donidalorsen, its late-stage investigational prophylactic therapy for hereditary angioedema (HAE). Topline two-year open-label extension (OLE) results continue to demonstrate consistent efficacy and safety, with an overall sustained mean reduction in HAE attack rates of 96% from baseline through two years across dosing groups. IONS also has completed enrollment in the P3 OASIS-HAE study, which is evaluating the safety and efficacy of donidalorsen in preventing angioedema attacks.

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

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

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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 what will happen behind the headlines today, not tomorrow or yesterday

 

Dow futures are DOWN -0.11% or (-35 points), S&P futures are UP +0.09% or (+3 point) and NASDAQ futures are DOWN -0.04% or (-6 points) early in the pre-open – so far

Stock futures were slowly moving upward on Thursday,

Europe markets opened higher and were climbing,

Asia Pacific markets were mostly higher.

 

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 Wednesday as the Dow closed DOWN -134.51 points (-0.41%), the S&P closed DOWN -25.69 points (-0.61%) while the Nasdaq closed DOWN -82.14 points (-0.63%)

The Nasdaq ended May with a 5.8% gain, the S&P 500 inched up 0.3% in the month, while the blue-chip Dow fell almost 3.5%.

Economic Data Docket: ADP Employment Report the Labor Department will release its weekly jobless claims reports with a purchasing managers’ index.

  • ADP showing private payrolls grew more than economists expected in May, coming in at 278,000 against a 180,000 consensus estimate. The labor market strength has been closely watched by market observers given concerns that sustained strength could prompt the Fed to raise interest rates again at the June meeting.

 

Wednesday (5/31) … RegMed Investors’ (RMi) closing bell: “deal or no deal. The sector and market dived on debt ceiling rule committee “first test;” what happens when it is blown-up by Congress’ and possible Senate voting? Investors are also fretting over another possible interest rate hike by the Fed next month as inflation remains elevated – another whammy?” … https://www.regmedinvestors.com/articles/12982

 

Ebb and flow:

Q2/23 – June, 1st session

·         May – 10 negative and 12 positive closes

·         April ended - 1 holiday, 8 positive close and 11 negative closes

Q1/23 –

·         March – ended with 10 positive and 13 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

Until a debt ceiling is voted and approved – a risky week continues as share pricing could avoid the air pockets …

Positive Indication:

Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Ionis Pharmaceuticals (IONS) closed up +$0.35 with a positive +$0.35 or +0.86% aftermarket indication after announcing positive clinical progress with donidalorsen, its late-stage investigational prophylactic therapy for hereditary angioedema (HAE).

Voyager Therapeutics (VYGR) closed down -$0.33 with a positive +$0.21 or +1.845 aftermarket indication.

 

Sell into Strength:

Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

bluebird bio (BLUE) closed up +$0.04 with a positive +$0.24 or +7.16% pre-open indication

Blueprint Medicines (BPMC) closed up +$0.11 after Tuesday’s +$3.47 with a positive +$1.69 or +2.99% pre-open indication

 

Negative indications:

Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Editas Medicine (EDIT) closed up +$0.22 with a negative -$0.01 or -0.11% aftermarket indication

 

The BOTTOM LINE:

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!

It ain’t over … the House OK'd the debt bill; I am NOT sure WHAT to believe about the NEXT status as the debt ceiling “deal” passes to the Senate for a vote.

Markets retreated Wednesday, with weak breadth once again amid strong economic data and renewed banking concerns.

Worries have been rising about an economic slowdown under the weight of much higher interest rates.

There is VALUE out there however, I am “parsing” and slowing forecasts anticipating a political “speedbump”!

Let the week shake out as we enter June.

I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!

At ANY time, this week, be ready to take partial profits and exit "precieved" or coming losers.

 

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.

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.

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.