July 25, 2023 4:51pm

Awaiting some statistics, are we always expecting or are we continuously pending?

Pre-Open Indications: 2 Hits and 2 Miss

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.

Never leave an investor uninformed! 

If I have learned one thing as a former research analyst in a venture and public fund, operating executive, x-military officer and x-FBI, an adjunct (MBA) business school professor now a journalist; my life and your portfolio are largely tied to our knowledge of price movements and questioning pricing targets.

 

The Dow closed UP +26.83 points (+0.08%), the S&P closed UP +12.82 points (+0.28%) while the Nasdaq closed UP +85.69 points (+0.61%)

 

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 rose on Tuesday as they built on its longest winning streak in more than six years, while traders weighed the latest earnings reports.

“Investors are also awaiting the Federal Reserve’s policy decision Wednesday and will parse through Chair Powell’s comments for his outlook on the economy. Investors are overwhelmingly betting the Fed will raise rates by a quarter percentage point. However, they are less certain in what policymakers will do in September.” <CNBC>

Economic Data Docket: The Conference Board's consumer confidence number rose to 117.0 in July from a revised 110.1 the prior month. Economists had forecast 111.8, per Econoday. The adjusted S&P CoreLogic Case-Shiller home price index rose 1% in May from a 0.9% increase the previous month. The consensus forecast was for a 0.8% increase.

  • Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. Prices nationally rose 0.7% month to month, seasonally adjusted. The index’s 10-city composite gained 1.1%, and the 20-city composite gained 1%. Prices nationally were still down 0.5% compared with May 2022, but they are just 1% below their June 2022 peak.

 

Tuesday (7/25) … RegMed Investors’ (RMi) pre-open: “after yesterday’s advance/decline dump, sector craves some altitude” … https://www.regmedinvestors.com/articles/13047

 

Pre-open Indications: 2 Hits < Blueprint Medicine (BPMC +$1.05), Prime Medicine (PRME +$0.08)> and 2 Miss < CRISPR Therapeutics (CRSP -$0.08), Ultragenyx (RARE -$0.55)>

 

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 10 up/ 21 down and 4 flats, stayed negative with 14 up/ 21 down and 0 flat at the mid-day, ending with a negative close of 11 incliners, 23 decliners and 1 flat

 

Key Metrics:

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

  • Tuesday, the IBB was down -0.24% and the XBI was down -0.36%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up +0.10 point or +0.72% at 14.01

 

Closing Down (10 of 23):

  • Sage Therapeutics (SAGE -$2.11 after Monday’s -$0.78),
  • Vericel (VCEL -$0.99),
  • Intellia Therapeutics (NTLA -$0.55 after Monday’s -$1.45),
  • Ultragenyx (RARE -$0.55 after Monday’s -$1.08),
  • Mesoblast (MESO -$0.45),
  • Generation Bio (GBIO -$0.38 after Monday’s +$0.01),
  • Regenxbio (RGNX -$0.32),
  • Adverum Biotechnologies (ADVM -$0.27),
  • uniQure NV (QURE -$0.22),
  • Voyager therapeutics (VYGR -$0.19)

Flat (1):

  • Editas Medicine (EDIT)

 

Closing Up (11 of 11):

  • Blueprint Medicine (BPMC +$1.05),
  • Alnylam Pharmaceuticals (ALNY +$1.14 after Monday’s -$7.75
  • Beam Therapeutics (BEAM +$0.91 after Monday’s -$0.52),
  • Ionis Pharmaceuticals (IONS +$0.61 after Monday’s -$1.41),
  • MiMedx (MDXG +$0.19),
  • Verve Therapeutics (VERV +$0.13),
  • Prime Medicine (PRME +$0.08 after Monday’s -$0.45),
  • Bellicum Pharmaceuticals (BLCM +$0.045),
  • Solid BioSciences (SLDB +$0.040,
  • Sangamo Therapeutics (SGMO +$0.03),
  • Compass Therapeutics (CMPX +$0.01),

 

Q3/23 – July

  • Tuesday closed negative with 11 incliners, 23 decliners and 1 flat
  • Monday (7/24) closed negative with 4 incliners, 31 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.”

As the cell and gene therapy sector fell … again, leaving blood on the walls and the street. 

While macroeconomic headwinds are waning for the moment, Q2 earnings season is about to start ramping up.

“The two-day Fed meeting is underway today, with a policy announcement due Wednesday at 2 p.m. ET. Markets expect a quarter-point Fed rate hike but see only a modest chance of another move before year-end. The 10-year Treasury yield added 5 basis points to 3.91% Tuesday afternoon.” <IBD>

 

Right up front, “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!”

 

The top three (3) performing in the session:

Tuesday: Blueprint Medicine (BPMC), Beam Therapeutics (BEAM) and Alnylam Pharmaceuticals (ALNY)

Monday: Harvard Apparatus (HRGN - formerly Biostage (BSTG), Homology Medicine (FIXX) and Caribou Biosciences (CRBU)

 

While The worst three (3) in the session:

Tuesday: Sage Therapeutics (SAGE), Vericel (VCEL) and Intellia Therapeutics (NTLA) - again   

Monday: Alnylam Pharmaceuticals (ALNY), Intellia Therapeutics (NTLA) and Ionis Pharmaceuticals (IONS)

 

Interesting Stats:

Q2 '23 M&As announced: 17

Q2 '23 M&As completed: 7

Q3 '23 M&As announced: 3 <so far>

Recently: Korro Bio (private) and Frequency Therapeutics (FREQ) announce merger; combined genetic medicine company will have $170 M in cash runway to last until 2026

 

Some BAD news:

Passage Bio (PASG) executes job cuts of 26% at Philadelphia gene therapy developer include the CFO and chief technical officer.

Humanigen (HGEN) is considering bankruptcy or other insolvency proceedings.

 

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! U.S. public shareholders deserve accountability …

 

Harvard Apparatus Regenerative Technology (HRGN)  formerly Biostage (OTCQB: BSTG) … as of 7/20/23 -- so many issues!

·         Question: is HRGN) just another Ponzi scheme (with their pump/promote buy and sell agenda) as shares are bought to replace those sold?

·         Accumulated deficit:  $85,901 M

·         Will HRGN ESCAPE the scandals when its name was used for a former chairman and CEO Green initiated utilization of an Italian surgeon and the $5 M it took to settle out the executive responsibility as it SHIFTED to the company shareholders and Harvard Bio (HBIO)???

 

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.