March 14, 2024 4:35pm

A similar “happening” when CPI was announced; inflation served up multiple reminders this week and month that they aren’t going-away anytime soon

Earnings: AGEN (in The Bottom Line)

The Harvard Apparatus RT (OTC QB HRGN) formerly <Biostage (BSTG)> Chronicles: shows how the “pimp/pump and promote” works <in Bottom Line>

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Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment.

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! 

 

Thursday: The Dow closed down -137.66 points or -0.35%, the S&P closed DOWN -14.83 points -0.29% while the Nasdaq closed DOWN -49.24 points or -0.30%

 

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 closed down after the release of hotter-than-expected U.S. inflation data sent Treasury yields higher.

Economic Data Docket: February’s producer price index, a measure of wholesale inflation, advanced 0.6% last month. Excluding food and energy prices, core PPI climbed 0.3% in February. E

 

Thursday’s RegMed Investors’ (RMi) opening bell: “three inflation reports due out. Their releases effect, infect and affect our cell and gene therapy universe.” … https://www.regmedinvestors.com/articles/13371

 

Advance/Decline (A/D) Line:

  • Thursday’s advance/decline line at the open was negative with 5 incliner, 28 decliners and 2 flats; ending with a negative close of 3 incliners, 30 decliners and 2 flats

 

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

Q1/24: March, 3 positive and 7 negative closes

  • 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:

  • Thursday, the IBB was down -1.84% and the XBI was down -2.75%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was up +0.72 point or +5.24% at 14.47

 

Thursday’s Closing Down (10 of 30):

  • Blueprint Medicine (BPMC -$2.89 after Wednesday’s +$0.90, Tuesday’s +$0.23 and Monday’s -$2.83
  • CRISPR Therapeutics (CRSP -$2.77 after Wednesday’s -$0.52, Tuesday’s -$1.52 and Monday’s -$2.10
  • Beam Therapeutics (BEAM -$2.76 after Wednesday’s +$1.57, Tuesday’s -$0.77 and Monday’s -$0.96
  • Ultragenyx Pharmaceuticals (RARE -$1.90 after Wednesday’s +$0.89, Tuesday’s -$0.85 and Monday’s -$2.02)
  • Intellia Therapeutics (NTLA -$1.15 after Wednesday’s +$0.89, Tuesday’s -$1.76 and Monday’s -$0.43),
  • Prime Medicine (PRME -$1.04),
  • Ionis Pharmaceuticals (IONS -$0.98),
  • Sage Therapeutics (SAGE -$0.80),
  • Verve Therapeutics (VERV -$0.74 after Wednesday’s +$0.42, Tuesday’s -$0.50 and Monday’s -$0.54),

Flat (2);

  • Harvard Apparatus RT (HRGN)
  • Mesoblast (MESO $0.00 after Wednesday’s -$0.22, Tuesday’s $0.00 and Monday’s +$0.51),

Thursday’s Closing Up (3 of 3):

  • Alnylam Pharmaceuticals (ALNY +$0.11 after Wednesday’s +$1.77. Tuesday’s -$2,46 and Monday’s -$0.72),
  • Solid Biosciences (SLDB +$0.05 after Wednesday’s +$0.83),
  • Homology Medicine (FIXX +$0.0173),

 

Q1/24 – March

  • Thursday closed negative with 3 incliners, 30 decliners and 2 flats

 

The BOTTOM LINE: A squeeze is happening over many markets, sectors and investors as well as the US populous.

  • The problem is likely to get worse as new government budgets do NOT address debt build-up!

The cell and gene therapy sector closed negative on Thursday after Wednesday positive close, which I believed was aided by algorithms and electronic trading.

… after Tuesday, Monday, Friday and Thursday negative after the previous Wednesday 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>

Earnings: Today …

Agenus (AGEN) a Q4/23 net loss of -$48.5 M or -$0.13 per share part of FY23’s net loss of -$257.4 M or -$0.69 per share with a cash position of $76.1 M with additional $25 M from Bristal Meyers (BMS) and a runway until Q3/25 with a potential $100 M to $200 M upon launch

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

 

As I wrote yesterday, “There is ALWAYS a however, the cell and gene therapy sector is DUE a (negative) rebound EVEN if it is due to algorithms and electronic trading RECOGNIZING risk and the overbought!”

  • “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!

 

Quotes to ponder:

“I think one question is, are yields going to go higher still, and if they do, do we have more downside in the market? I think the answer is yes to both.” <Thierry Wizman, global FX and rates strategist at Macquarie>

Other data showed U.S. retail sales rebounded last month with a 0.6% rise, but were below the 0.8% estimate, while weekly initial jobless claims fell to 209,000 versus the 218,000 forecasts. <Reuters>

"The slight rebound in retail sales coupled with the bigger than expected jump in producer prices probably will shift the Fed’s dot plot to indicate two rate cuts in 2024 instead of three." <Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin>

 

The top three (3) performing in the session:

  • Thursday: Alnylam Pharmaceuticals (ALNY), Solid Biosciences (SLDB) and  Homology Medicine (FIXX) 
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Beam Therapeutics (BEAM) and BioLife Solutions (BLFS)
  • Tuesday: Blueprint Medicine (BPMC), Cellectis SA (CLLS), and Compass Therapeutics (CMPX)
  • Monday:  Graphite Bio (GRPH), Mesoblast (MESO) and Solid BioSciences (SLDB)

The worst three (3) in the session:  

  • Thursday: CRISPR Therapeutics (CRSP), Blueprint Medicine (BPMC) and Beam Therapeutics (BEAM)
  • Wednesday: CRISPR Therapeutics (CRSP), Mesoblast (MESO) and AxoGen (AXGN)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Caribou Biosciences (CRBU) and Intellia Therapeutics (NTLA)
  • Monday: Blueprint Medicine (BPMC), CRISPR Therapeutics (CRSP) and Ultragenyx Pharmaceuticals (RARE)

 

BEWARE… How MANY TIMES AM I RIGHT … MORE than MOST!!

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

  • Thursday closed flat with 0 shares traded
  • Wednesday closed up +$0.20 with 31,253 shares traded
  • Tuesday closed down -$0.15 with 2,232 shares traded <aver 3-m=2,955 shares>
  • (3/11) Monday closed down -$0.12 was -$0.23 and -$0.28) with 6,020 shares traded
  • Friday closed down -$0.28 with 914 shares traded
  • Thursday closed flat with 7 shares traded
  • Wednesday closed up +$0.50 with 500 shares traded
  • Tuesday closed up +$0.0-9 with 851 shares traded
  • (3/4) Monday closed down -$0.69 with 10,409 shares traded (aver 3-mo= 2,765 shares)
  • (3/1) Friday closed up +$0.05 with 15,125 shares traded

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.