May 16, 2024 4:45pm

Remember the myth of Icarus flying too high and melting his wings with a big drop to the sea 

News: Biogen (BIIB -$5.28) and Ionis Pharmaceuticals (IONS -$1.59) are DISCONTINUING development of an experimental “compound” for ALS following new clinical trial results that didn’t meet their expectations. <see below>

The days of being long are not the strongest investing rationale as the cell and gene therapy sector runs out of buyers, it runs into trouble (just like a fire that runs out of wood).

Never leave an investor uninformed! A trusted source of factual reporting!

 

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! 

 

Thursday: The Dow closed DOWN -38.62 points or -0.10%, the S&P closed DOWN -11.05 points or -0.21% while the Nasdaq closed DOWN -44.07 points or -0.26%

 

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 …

The Dow hit 40,051 and then dropped with a gravity apple … as indexes closed LOWER.

From the title: Biogen (BIIB) and Ionis Pharmaceuticals (IONS)

The drug didn’t appear to change the trajectory of the disease. It didn’t impact breathing, strength and overall function — key health measures that diminish as ALS progresses. BIIB105 also didn’t substantially reduce a different protein, “neurofilament light chain,” that recently became important across this area of research. Qalsody, another ALS medicine developed by Biogen and Ionis, won marketing approval last year based on its ability to lower that protein.

  • "While BIIB105 lowered ATXN2 protein, it did not reduce neurofilament, which gives us confidence that BIIB105 did not slow the disease process."

Economic Data Docket: Initial claims for unemployment benefits drifted back. First-time filings totaled 222,000 for the week ended May 11, just 1,000 above the estimate and a 10,000 decline from the previous week’s upwardly revised total, which was the highest since late August. Continuing claims rose to 1.794 million, up 13,000 from the previous week and a bit above the FactSet estimate.

  • The Commerce Department reported that building permits fell to 1.44 million, below the 1.48 million estimate, while housing starts rose to 1.36 million, but well below the 1.4 million estimate.

 

RegMed Investors (RMi) - Q1/24 Cell and Gene Therapy Earnings Scorecard Results … https://www.regmedinvestors.com/articles/11628

 

Advance/Decline (A/D) Line:

  • Thursday’s advance/decline line at the open was negative with 9 incliner, 25 decliners and 1 flat; ending with a negative close of 13 incliners, 21 decliners and 1 flat

 

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

Q2/24: 8 positive and 4 negative closes

  • April; 16 negative and 6 positive closes

 

Key Metrics:

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

  • Thursday, the IBB was down -0.04% and the XBI was down -0.01%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was up +0.01 point or +0.08% at 12.46

 

Thursday’s Closing Down (10 of 21):

  • Vericel (VCEL -$1.08 after Wednesday’s +$0.88),
  • Ionis Pharmaceuticals (IONS -$1.59 after Wednesday’s +$0.94 after Tuesday’s -$0.53 after Monday’s -$0.28,
  • CRISPR Therapeutics (CRSP -$1.29 after Wednesday’s +$1.25 after Tuesday’s +$0.06),
  • BioLife Solutions (BLFS -$1.02 after Wednesday’s +$0.56 after Tuesday’s +$1.77 after Monday’s +$1.12),
  • Adverum Biotechnologies (ADVM -$0.50 after Tuesday’s -$0.24 after Monday’s -$0.13),
  • Solid Biosciences (SLDB -$0.39 after Tuesday’s +$0.21 after Monday’s -$0.64),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.38 after Wednesday’s +$0.36, Tuesday’s and Monday’s flats),
  • Beam Therapeutics (BEAM -$0.32 after Wednesday’s +$0.30 after Tuesday’s -$0.21 after Monday’s +$2.76),
  • Agenus (AGEN -$0.28)
  • Regenxbio (RGNX -$0.22 after Wednesday’s +$0.43 after Tuesday’s +$0.06),

Flat (1):

  • Bellicum Pharmaceuticals (BLCM) – dropped)

Thursday’s Closing Up (10 of 13):

  • Alnylam Pharmaceuticals (ALNY +$2.82),
  • Ultragenyx Pharmaceuticals (RARE +$1.49),
  • Lenz Therapeutics (LENZ +$0.89),
  • Sage Therapeutics (SAGE +$0.30),
  • Prime Medicine (PRME +$0.28),
  • Verve Therapeutics (VERV +$0.15)
  • Voyager Therapeutics (VYGR +$0.06),
  • Compass Therapeutics (CMPX +$0.06 after Wednesday’s -$0.075),
  • Brainstorm Cell Therapeutics (BCLI +$0.032 after Wednesday’s -$0.016 and Tuesday’s -$0.0479),
  • Sangamo Therapeutics (SGMO +$0.0286),

 

Q2/24 – May

  • Thursday closed negative with 13 incliners, 21 decliners and 1 flat <dropped>

 

The BOTTOM LINE:  Science is thriving, but has share pricing uneven and while new cell and gene therapies may continue bringing in value to companies, real growth will come when clinical outcomes and pricing of treatments catch up and get on the same page.

  • My guide to 'good news seems to be bad news' and 'bad news is good news. 'In normal times, no one really questions whether good news in the economy is actually good.

 

The cell and gene therapy stocks flipped negative on Thursday after being positive – 3 sessions in a row and 8 of 11 so far this May.

Investors should be “playing” the cell and gene therapy sector, but not for all their invested “marbles” while share pricing is struggling for direction where economic releases are misaligned, equities get downtrodden

 

The top three (3) performing in the session:  

  • Thursday: Alnylam Pharmaceuticals (ALNY), Ultragenyx Pharmaceuticals (RARE) and Lenz Therapeutics (LENZ)
  • Wednesday: Blueprint Medicine (BLMC), CRISPR Therapeutics (CRSP) and Ionis Pharmaceuticals (IONS) 
  • Tuesday: BioLife Solutions (BLFS), Generation Bio (GBIO (GBIO) and Intellia Therapeutics (NTLA)
  • Monday: CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM) and Blueprint Medicine (BLMC)

The worst three (3) in the session:

  • Thursday: Ionis Pharmaceuticals (IONS), Vericel (VCEL) and CRISPR Therapeutics (CRSP)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Sage Therapeutics (SAGE) and Solid Biosciences (SLDB)
  • Tuesday: Blueprint Medicine (BLMC), Alnylam Pharmaceuticals (ALNY) and Ionis Pharmaceuticals (IONS) 
  • Monday: Solid Biosciences (SLDB), Alnylam Pharmaceuticals (ALNY) and Mesoblast (MESO)

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.