April 22, 2024 4:35pm

A Monday risk-on mode was supported by signs of easing tensions in the Middle East, after a weakened April share pricing month

G-2, Intel: Is Agenus (AGEN) preparing for an offering … $300 common <134, 512,851 shares) stock, preferred stock, warrants and debt securities … Shelf Filing … Post Effective Amendment … reasoning for the Share Reverse on 4/12? <see The Bottom Line>

A 360-degree review of the who, why, when and what happened in the sector as the market and economics surround your portfolio defense.

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The present and future value of RegMed Investors (RMi) NEWS sheds light on the stem, cell and gene therapy sector’s risks to share pricing and the sector’s upside acrobatics and potential downslides.

I write this blog/newsletter about – facts in evidence! 

 

Monday: The Dow closed UP +253.91 points or +0.67%, the S&P closed UP +43.38 points or +0.87% while the Nasdaq closed UP +169.29 points or +1.11%

 

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 …

U.S. markets and the cell and gene therapy sector rose on Monday in choppy trading after steep losses through the month of April as easing Middle East tensions buoyed risk appetite, while investors looked ahead to earnings and a key inflation data.

Economic Data Docket: GDP due out on Thursday and a key inflation reading on Friday, when the Commerce Department reports personal consumption expenditures price index data for March. The PCE deflator is the Fed’s preferred inflation gauge.

 

Monday’s RegMed Investors’ (RMi) opening bell: “questionable timing. As cell and gene therapy sector’s equities struggles from April’s start and Friday’s aftermarket in its journey to Monday’s session. Other impediments are Q1/24 earnings season early beginning, the March reading of the Personal Consumption Expenditures index (on Thursday) and the Fed's preferred inflation gauge (on Friday).” … https://www.regmedinvestors.com/articles/13427

 

Advance/Decline (A/D) Line:

  • Monday’s advance/decline line at the open was negative with 12 incliner, 21 decliners and 2 flats; ending with a positive close of 26 incliners, 6 decliners and 3 flats

 

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

Q2/24: 13 negative and 3 positive closes

Q1/24:

  • March, 1 holiday, 8 positive and 12 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:

  • Monday, the IBB was up +1.11% and the XBI was up +1.16%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -1.78 point or -9.51% at 16.93

 

Monday’s Closing Down (6 of 6):

  • Sage Therapeutics (SAGE -$2.36 after Friday’s +$0.30
  • Graphite Bio (GBIO -$0.09),
  • Adverum Biotechnologies (ADVM -$0.05)
  • Generation Bio (GBIO -$0.05 after Friday’s +$0.02),
  • bluebird bio (BLUE -$0.0428 after Friday’s +$0.067),
  • Bellicum Pharmaceuticals (BLCM -$0.0054),
  • Sangamo Therapeutics (SGMO -$0.0047 after Friday’s +$0.0264),

Flat (3):

  • Adverum Biotechnologies (ADVM)
  • Harvard Apparatus RT (OTCQB: HRGN)
  • Fate Therapeutics (FATE)

Monday’s Closing Up (10 of 26):

  • Blueprint Medicine (BPMC +$3.76 after Friday’s -$2.06
  • Vericel (VCEL +$1.64),
  • Alnylam Pharmaceuticals (ALNY +$1.38 after Friday’s -$0.75),
  • Ultragenyx Pharmaceuticals (RARE +$1.32 after Friday’s -$1.01),
  • BioLife Solutions (BLFS +$0.94 after Friday’s $0.00),
  • CRISPR Therapeutics (CRSP +$0.61 after Friday’s -$1.11),
  • Agenus (AGEN +$0.46 after Friday’s +$0.34),
  • Ionis Pharmaceuticals (IONS +$0.39 after Friday’s -$0.13),
  • AxoGen (AXGN +$0.36),
  • Solid Biosciences (SLDB +$0.34 after Friday’s -$0.56),

 

Q2/24 – April:

  • (4/22) Monday closed positive with 26 incliners, 6 decliners and 3 flat

 

The BOTTOM LINE:  I believe a fake-out is in play in the cell and gene therapy sector as the week is back-ended or bracketed by Q1’ earnings reporting and inflation oriented dat releases.

CAUTION …

On the docket this week would be the price consumption expenditure (PCE) index reading for March - the Fed's preferred inflation gauge - to further ascertain the monetary policy trajectory.

It’s STILL all about the lack of demand with plenty of supply …

  • Cell and gene therapy sector equities have sold off … 8 sessions in a row and 13 to date this month of April!

Last week, I wrote that I favor … caution over the next few weeks! 

 

Is Agenus (AGEN preparing for an offering … $300 common stock, preferred stock, warrants and debt securities … Shelf Filing … Post Effective Amendment … reasoning for the Share Reverse?

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001098972/2aeed437-11b5-4133-be70-d8c22ec43843.pdf

  • A sales agreement prospectus supplement that covers the potential offering, issuance and sale from time to time of up to 134,512,851 shares of Agenus’ common stock pursuant to a sales agreement with B. Riley Securities, Inc. (formerly B. Riley FBR, Inc.).
  • The base prospectus immediately follows this explanatory note. The sales agreement prospectus supplement immediately follows the base prospectus. Upon termination of the sales agreement with B. Riley Securities, Inc., any amounts included in the sales agreement prospectus supplement that remain unsold will be available for sale in other offerings pursuant to the base prospectus, and if no shares are sold under the sales agreement, the full amount of this registration statement may be sold in other offerings pursuant to the base prospectus and a corresponding prospectus supplement.

Agenus (AGEN) shares jumped 4/22 +$0.39 or +7.34 to $5.70 after Friday’s $5.31 (+$0.34 or +6.8%) after Thursday’s $4.97 (-$0.43). This move can be attributable to notable volume with a higher number of shares being traded than in a typical session.

  • This compares to the stock's 55.8% loss over the past four weeks.
  • 4/12 a stock reverse of 1/20 split

 

The top three (3) performing in the session:  

  • Monday: Blueprint Medicine (BPMC), Alnylam Pharmaceuticals (ALNY) and Vericel (VCEL)

The worst three (3) in the session:  

  • Monday: Sage Therapeutics (SAGE), Graphite BIO (GBIO) and bluebird bio (BLUE)

 

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.