March 1, 2024 5:41pm

Earnings: Prime Medicine (PRME) FY23 only

Pre-open Indications: 1 Hits and 1 Miss

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The week in review

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 – facts in evidence! 

 

Friday: The Dow closed UP +90.99 points or +0.23%, the S&P closed UP +40.81 points +0.80% while the Nasdaq closed UP +183.02 points or +1.14%

Thursday: The Dow closed up +47.37 points or +0.12%, the S&P closed UP +26.51 points +0.52% while the Nasdaq closed UP +144.18 points or +0.90%

Wednesday: The Dow closed DOWN -23.39 points or -0.06%, the S&P closed DOWN -8.42 points -0.17% while the Nasdaq closed DOWN -87.56 points or -0.55%

Tuesday: The Dow closed DOWN -96.82 points or -0.25%, the S&P closed UP +8.65 points +0.17% while the Nasdaq closed UP +59.05 points or +0.37%

Monday: The Dow closed DOWN -62.30 points or -0.16%, the S&P closed DOWN -190.27 points -0.38% while the Nasdaq closed DOWN -20.57 points or -0.13%

 

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 …

All indexes advanced Friday while the Nasdaq rose to an all-time high Friday, surpassing its 2021 record.

 

Pre-open Indication: 1 Hit <AxoGen (AXGN +0.13)> and 1 MISS < Vericel (VCEL -$0.97>)

 

Thursday’s RegMed Investors’ (RMi) opening bell: “Resistance? As a new month begins, March and more Q4/FY23 earnings” … https://www.regmedinvestors.com/articles/13352

 

Advance/Decline (A/D) Line:

  • Friday’s advance/decline line at the open was positive with 28 incliner, 6 decliners and 1 flat; ending with a positive close of 23 incliners, 10 decliners and 2 flats
  • Thursday’s advance/decline line at the open was negative with 14 incliner, 18 decliners and 3 flats; ending with a negative close of 7 incliners, 26 decliners and 2 flat
  • Wednesday’s advance/decline line at the open was negative with 14 incliner, 18 decliners and 3 flats; ending with a negative close of 10 incliners, 25 decliners and 0 flat
  • Tuesday’s advance/decline line at the open was positive with 28 incliner, 5 decliners and 2 flats; ending with a positive close of 31 incliners, 3 decliners and 1 flat
  • Monday’s advance/decline line at the mid-day was positive with 10 incliner, 25 decliners and 0 flats; ending with a positive close of 7 incliners, 28 decliners and 0 flats

 

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

Q1/24: March, 1 positive

  • February, 1 holiday, 9 negative and 11 positive closes
  • January: 2 holiday, 12 negative and 8 positive closes

 

Key Metrics:

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

  • Friday, the IBB was up +2.17% and the XBI was up +3.16%
  • Thursday, the IBB was down -1.85% and the XBI was down -3.05%
  • Wednesday, the IBB was down -1.04% and the XBI was down -1.32%
  • Tuesday, the IBB was up +1.24% and the XBI was up +5.74%
  • Monday, the IBB was up +0.70% and the XBI was up +22.73%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -029 point or -2.16% at 13.11
  • Thursday down -0.44 point or -13.18 to 13.40
  • Wednesday was up +0.38 point or +2.83% at 13.81
  • Tuesday was down -0.30 point or -2.18% at 13.44
  • Monday was down -0.01 point or -0.07% at 13.74

 

Friday’s Closing Down (7 of 7):

  • Vericel (VCEL -$0.97 after Thursday’s -$2.12),
  • Verve Therapeutics (VERV -$0.76
  • CRISPR Therapeutics (CRSP -$0.47 after Thursday’s -$3.46, Wednesday’s -$1.44, Tuesday’s +$3.06 and Monday’s +$2.07),
  • uniQure NV (QURE -$0.16),
  • Caribou Biosciences (CRBU -$0.12),
  • Sangamo Therapeutics (SGMO -$0.05 after Thursday’s +$0.09),
  • Homology Medicine (FIXX -$0.0269),
  • Brainstorm Cell Therapeutics (BCLI -$0.0218 after Thursday’s +$0.0004 and Wednesday’s +$0.0036)
  • Adverum Biotechnologies (ADVM -$0.01 after Thursday’s +$0.01),
  • Agenus (AGEN -$0.0099),

Friday’s Closing Up (10 of 23):

  • Regenxbio (RGNX +$3.75 after Thursday’s -$2.46, Wednesday’s -$0.87, Tuesday’s +$1.68 and Monday’s +$0.93),
  • Ultragenyx Pharmaceuticals (RARE +$0.97 after Thursday’s -$1.03, Wednesday’s -$0.91, Tuesday’s +$3.41 and Monday’s +$0.77),
  • Blueprint Medicine (BPMC +$1.60 after Thursday’s -$1.93, Wednesday’s -$4.34, Tuesday’s +$4.74 and Monday’s +$5.56
  • Alnylam Pharmaceuticals (ALNY +$1.52 after Thursday’s -$4.14 and Wednesday’s -$3.77),
  • Voyager Therapeutics (VYGR +$1.12)
  • BioLife Solutions (BLFS +$1.07),
  • Fate Therapeutics (FATE +$0.65),
  • Intellia Therapeutics (NTLA +$0.54)
  • MiMedx (MDGX +$0.47),
  • Editas Medicine (EDIT +$0.47 after Thursday’s -$1.01 after Wednesday’s +2.21$ after Tuesday’s +$0.80)

Flat (2):

  • Homology Medicine (FIXX),
  • Bellicum Pharmaceuticals (BLCM),

 

Q1/24 – February

  • (3/1) Friday closed positive with 23 incliners, 10 decliners and 2 flats

 

The BOTTOM LINE: The stock market today closed the Friday positive …

The cell and gene therapy sector zipped-lined to the downside Thursday and Wednesday after closing positive on Tuesday after Monday positive close following after Friday’s positive close after last Thursday’s positive close

Earnings, net losses, and per-share losses, runways and guidance have begun Q4 and FY23 which WILL be crucial to continue downside force in the sector as history has taught us i.e., investors.

I have seen 4 net income for the Q4 and FY23 - MiMedx (MDXG) and Voyager Therapeutics (VYGR) followed by Q4 CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM) <but each had a FY23 loss>

17 have reported …

Friday -PRME -

Thursday – VCEL and BLFS

Wednesday – QURE, EDIT, VERV, MDXG, VYGR

Tuesday -BEAM, VERV, RGNX;

Monday -FATE;

Last week -NTLA, CRSP, IONS, SAGE, RARE, BPMC and ALNY.

•              RegMed Investors (RMi) - Q4/23 & FY23 Cell and Gene Therapy Earnings Scorecard Results https://www.regmedinvestors.com/articles/11628

 

Earnings - today:

Prime Medicine (PRME):

  • Q4/23 – hiding
  • FY23 net loss of -$198.1 M or -$2,18 with a cash position of $135.3 M (raised2/24 $161. M)  and a runway until 2025

 

 I ALSO reiterate, “Don't chase the cell and gene therapy sector, especially with the Nasdaq extended.”

Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

 

The top three (3) performing in the session:

  • Friday: Regenxbio (RHNX), Blueprint Medicine (BLMC) and Ultragenyx Pharmaceuticals (RARE)
  • Thursday: AxoGen (AXGN), Graphite Bio (GRPH) and Sangamo Therapeutics (SGMO)
  • Wednesday: Editas Medicine (EDIT), Intellia Therapeutics (NTLA) and Verve Therapeutics (VERV)
  • Tuesday: Beam Therapeutics (BEAM), Blueprint Medicine (BLMC) and Ultragenyx Pharmaceuticals (RARE)
  • Monday: Blueprint Medicine (BLMC), CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM)

The worst three (3) in the session:  

  • Friday: Vericel (VCEL), Verve Therapeutics (VERV) and CRISPR Therapeutics (CRSP)
  • Thursday: Alnylam Pharmaceuticals (ALNY), Beam Therapeutics (BEAM) and CRISPR Therapeutics (CRSP)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BLMC) and Beam Therapeutics (BEAM)
  • Tuesday: BioLife Solutions (BLFS), Compass Therapeutics (CMPX) and Vericel (VCEL)
  • Monday: Solid Biosciences (SLDB), Cellectis SA (CLLS) and Harvard Apparatus RT (HRGN)

 

BEWARE… I MANY TIMES AM I RIGHT …

The Harvard Apparatus RT (OTC QB HRGN) formerly the Biostage (BSTG) Chronicles: shows how the “pimp/pump and promote” works …my treatise is VALIDATED!

  • Friday closed up +$0.05 with 15,125 shares traded
  • Thursday closed down -$0.05 with 301 shares traded
  • Wednesday closed up +$0.05 WITH 12,187 shares traded (aver 3-mo=2,311 shares)
  • Tuesday dropped -$0.01 with 1,314 shares traded,
  • (2/26) Monday closed down -$0.09 with 350 shares traded
  • Friday closed up +$0.0625 with 8,114 shares traded <aver 3-mo = 2,186>
  • Thursday closed up +$0.0075 with 15,907 shares traded
  • Wednesday close down -$0.02 with 1,106 shares traded,
  • Tuesday closed up +$0.24 with 24,963 shares traded <3-month average = 1,545 shares> WOW, if this doesn’t prove my point – nothing will!!

Did you notice how it barely trades unless volume is being “pumped.”  This question needs to be answered as HRGN is desperate to finance by any means as past Chinese private placement investors must be feeling … WHAT … TAKEN to the cleaners?

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.