January 16, 2024 4:50pm

How low will it go after 6 negative and 3 positive closes so far in January 2024

News: CRISPR Therapeutics (CRSP -$0.82 with post close of +$0.57) the FDA has approved CASGEVY™ (exagamglogene autotemcel [exa-cel]), a CRISPR/Cas9 gene-edited cell therapy, for the treatment of transfusion-dependent beta thalassemia (TDT) in patients 12 years and older. Solid Biosciences (SLDB +$0.29) has been granted orphan drug designation (ODD) from the FDA for SGT-003, the company’s next-generation Duchenne muscular dystrophy (Duchenne) gene therapy candidate. Precigen (PGEN -$0.065) the European Commission (EC) has granted Orphan Drug Designation for PRGN-2012 for the treatment of recurrent respiratory papillomatosis (RRP). RRP is a rare, difficult-to-treat and sometimes fatal neoplastic disease of the upper and lower respiratory tracts caused by human papillomavirus type 6 (HPV 6) or HPV type 11 (HPV 11).

Pre-open Indication: 4 Hits and 2 Miss

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Tuesday: The Dow closed DOWN -231.86 points or -0.62%, the S&P closed DOWN -17.85 points or -0.37% while the Nasdaq closed DOWN -28.41 points or -0.19%

Monday was a market holiday

 

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 dived as Q4 earnings begin while the benchmark 10-year Treasury note yield jumped 12 basis points to 4.071% after Fed Governor Waller indicated in a speech that the central bank may ease monetary policy slower than anticipated.

Investors are also looking ahead to December retail sales data out Wednesday, which could fuel recessionary fears and concerns about economic growth if U.S. consumer spending sees a cooldown. <CNBC>

 

Pre-open Indications 4 Hits < Alnylam Pharmaceuticals (ALNY -$5.90), Ionis Pharmaceuticals (IONS -$2.51), Intellia Therapeutics (NTLA -$0.91), Vericel (VCEL +$0.96)> 2 Miss < Beam Therapeutics (BEAM -$0.50), Sage Therapeutics (SAGE -$0.15)>

 

52-week low:

Mesoblast (MESO) drops -$0.09 to $1.85 after a 1 for 2 split.

  • Mesoblast Limited (MESO and ASX: MSB), who have seen the share price tank a massive 89% over a 3-year period. The share price down 68% in a year. Furthermore, it's down 21% in about a quarter.

 

Friday’s Pre-Open: RegMed Investors’ (RMi) pre-open: “PPI data ends the week.  It’s also about pops and drops in “my” universe of cell and gene therapy sector.” … https://www.regmedinvestors.com/articles/13284

 

The week so far: Tuesday’s advance/decline line was negative at the open with 6 incliners, 28 decliners and 1 flat, ending with a negative close of 9 incliners, 25 decliners and 1 flat

Monday was a market holiday

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:

Q1/24: 2 holidays, 7 negative and 3 positive closes

 

Key Metrics:

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

  • Tuesday, the IBB was down -0.88% and the XBI was down -1.50%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was up +0.57 point or +4.30% at 13.82

 

Tuesday’s Closing Down (10 of 25):

  • Alnylam Pharmaceuticals (ALNY -$5.90 after Friday’s -$1.69
  • Ionis Pharmaceuticals (IONS -$2.51),
  • Blueprint Medicine (BPMC -$2.41 after Friday’s +$0.98
  • Ultragenyx Pharmaceuticals (RARE -$1.70 after Friday’s -$0.45
  • Prime Medicine (PRME -$0.98 after Friday’s -$0.16),
  • Intellia Therapeutics (NTLA -$0.91 after Friday’s -$0.48),
  • CRISPR Therapeutics (CRSP -$0.82 after Friday’s -$0.59),
  • Beam Therapeutics (BEAM -$0.50 after Friday’s -$0.48),
  • Voyager Therapeutics (VYGR -$0.32 after Friday’s -$0.14),
  • uniQure NV (QURE -$0.30 after Friday’s -$0.14)

Flat (1):

  • Harvard Apparatus GN (HRGN)

Tuesday’s Closing Up (9 of 9):

  • Vericel (VCEL +$0.96 after Friday’s +$0.85),
  • Solid Biosciences (SLDB +$0.29 after Friday’s -$0.01),
  • BioLife Solutions (BLFS +$0.14 after Friday’s +$0.21),
  • Regenxbio (RGNX +$0.14 after Friday’s +$0.56),
  • AxoGen (AXGN +$0.05),
  • MiMedx (MDXG +$0.04),
  • Graphite Bio (GRPH +$0.04),
  • Bellicum Pharmaceuticals (BLCM +$0.005),
  • Brainstorm Cell therapeutics (BCLI +$0.0015 after Friday’s +$0.0089)

 

Q1/24 – January

  •  Tuesday closed negative with 9 incliners, 25 decliners and 1 flat
  • (1/15) Monday was market holiday

 

The BOTTOM LINE: the cell and gene therapy sector showed yet another “touch” of weakness on Monday, Friday, Thursday and Wednesday after last Tuesday’s decline and the previous Monday’s positive close.

  • Sentiment is slipping as we are about the kick-off earnings’ LPS (loss-per-share) season as estimates and consensus usually get beaten.
  • Remember, “Pricing for gene therapies medications will continue to dominate share ascensions and downfalls!” <me>

 

Today’s non-attractives or maybe not:

  • Lack of optimism
  • Dampening sentiment were remarks by Fed Governor Christopher Waller, who said that while he was more confident of inflation being on track to the 2% target, there should be no rush to cut rates.
  • Benchmark 10-year notes last fell 24/32 in price to yield 4.041%, from 3.95% late on Friday.
  • The 30-year bond last fell 48/32 in price to yield 4.2815%, from 4.198% late on Friday.

The top three (3) performing in the session:

  • Tuesday: Vericel (VCEL), Solid Biosciences (SLDB) and BioLife Solutions (BLFS)
  • Monday was a market holiday

The worst three (3) in the session:

  • Tuesday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Blueprint medicine (BPMC)
  • Monday was a market holiday

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; 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. 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.