May 8, 2025 5:23pm

Those sector equites that have suffered are bounding on positive market news as yesterday, Wednesday’s post: the “sector share pricing bends, blends and ultimately extends to a positive close”

Earnings:

  • Vericel (VCEL) Net loss of -$11.2 M or -$0.23, collaboration revenue or $52.6 M, $162 M in cash with a 2027 runway.
  • Intellia Therapeutics (NTLA) Net loss of -$44.3M or -$1.10 per share, collaboration revenue or $16.63 M, cash $707.1 M in cash with a Q1/2027 runway.
  • AxoGen (AXGN) Net loss of -$3.8 M or -$0.08 per share, collaboration revenue or $48.56 M, $295 M in cash with a 2026 runway.
  • Prime Medicine (PRME) Net loss of -$51.9 M or -$0.40 per share, collaboration revenue or $1.454 K, cash of $158.3 M with a 2026 runway.
  • Compass Therapeutics (CMPX) Net loss of -$16.6 M or -$0.12 per share, collaboration revenue or 0, cash of $113 M with a 2027 runway.
  • Generation Bio (GBIO) Net loss of -$14.8 M or -$0.22 per share, collaboration revenue or $8.72, cash of $157.6 M with a 2H/2027 runway.
  • Lenz Therapeutics (LENZ) Net loss of -$14.6 M or -$0.01 per share, 0 collaboration revenue, cash of $194.1 M with a 2028 runway.
  • BioLife Solutions (BLFS) Net loss of -$400 K or -$0.53 per share, collaboration revenue or $23.9, cash of $107.6 M with a 2027 runway.
  • Caribou Biosciences (CRBU) Net loss of -$40 M or -$0.43 per share, collaboration revenue or $23.9, cash of $107.6 M with a 2027 runway.

Coming Earnings: RGNX on 5/9

Never leave an investor uninformed!  

On point, short on words, long on facts and being judicious!

My mission is to provide clear, actionable guidance on a regular basis to help investors and traders navigate the uncertain and often irrational financial markets. I put hours of effort to create reporting, while leveraging my 40 years of operating and research experiences to analyze the key market-moving events and distill that into a cogent outlook.

 

Thursday’s RegMed Investors’ (RMi) pre-open: Risk is always apparent … https://www.regmedinvestors.com/articles/13910

Wednesday night’s RegMed Investors (RMi) Closing Bell: sector flips as Fed stands pat … https://www.regmedinvestors.com/articles/13909    

 RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB: HRGN) Chronicles: Yet another "screw job" for/on investors ... "wanting to effect a reverse split of its outstanding common stock" in its recent proxy statement filing!! … https://www.regmedinvestors.com/articles/13812

 

Thursday: The Dow closed UP +254.48 points or +0.62%, the S&P closed UP +32.66 points or +0.58% while the Nasdaq closed UP +189.98 points or +1.07%

  • Indexes were bouncing due to trade deal framework between the U.S. and United Kingdom

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

  •  Nonfarm business labor productivity contracted at a seasonally adjusted annualized rate of 0.8% for the 3-month period, the result of a 0.3% drop in output and a 0.6% increase in hours worked. The headline number was in line with the estimate. At the same time, unit labor costs jumped 5.7%, as hourly compensation increased 4.8% and productivity fell. The consensus forecast was for a 5.1% increase.

Thursday’s advance/decline line opened with a barely positive 17 incliner, 16 decline and 2 flats ending with a positive close of 25 incliners, 8 decliners and 2 flats        

Metrics:  Thursday, the IBB was down -0.22%, the XBI was up +0.69% while the VIX was down -1.07 points or -4.55% at 22.48

 

Q2/25 – May – 3 negative and 3 positive closes

  • April – 11 positive and 10 negative closes

Q1/25

  • March, 10 positive and 12 negative closes
  • February – 12 holiday, 11 negative and 7 positive closes
  • January - 2 holidays, 1 market close, 10 negative and 10 positive closes

 

Thursday’s Closing UP (10 of 25)

  • Ultragenyx Pharmaceuticals (RARE +$2.56 after Wednesday’s -$1.64 after Tuesday’s -$3.81 after Monday’s -$0.43),
  • uniQure NV (QURE +$2.19 after Wednesday’s -$1.42 after Tuesday’s -$4.41 after Monday’s +$1.12),
  • CRISPR Therapeutics (CRSP +$1.89 after Wednesday’s +$1.09 after Tuesday’s -$4.57 after Monday’s -$0.63),
  • Vericel (VCEL +$1.40 after Wednesday’s +$2.02),
  • BioLife Solutions (BLFS +$1.02 after Wednesday’s -$0.61 after Tuesday’s -$2.25 after Monday’s -$1.07),
  • Intellia Therapeutics (NTLA +$0.99),
  • Lenz Therapeutics (LENZ +$0.53 after Wednesday’s -$0.55 after Tuesday’s -$3.21 after Monday’s -$0.42),
  • MiMedx (MDXG +$0.44 after Wednesday’s +$0.37 after Tuesday’s +$0.03 after Monday’s +$0.30)
  • Mesoblast (MESO +$0.38 after Wednesday’s +$0.17),
  • Moderna (MRNA +$0.32 after Wednesday’s -$0.37 after Tuesday’s -$3.41 after Monday’s +$0.23),

Flat (2)

  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Friday’s $0.00)
  • Homology Medicine (FIXX)

Thursday’s Closing DOWN (8 of 8): 

  • Alnylam Pharmaceuticals (ALNY -$18.20 after Wednesday’s +$6.74 after Tuesday’s -$3.74 after Monday’s +$14.16),
  • AxoGen (AXGN -$3.80) earnings and CFO loss,
  • Blueprint Medicine (BPMC -$1.04 after Wednesday’s +$0.64 after Tuesday’s -$2.67 after Monday’s -$2.81),
  • Ionis Pharmaceuticals (IONS -$0.32 after Wednesday’s +$1.21),
  • Sage Therapeutics (SAGE -$0.11),
  • Prime Medicine (PRME -$0.10 after Wednesday’s +$0.09),
  • Regenxbio (RGNX -$0.09 after Wednesday’s -$0.68 after Tuesday’s -$1.84 after Monday’s -$0.64),
  • Generation Bio (GBIO -$0.03),

 

The BOTTOM LINE: cell and gene therapy sector started the week …weak, then weaker followed by a Thursday second positive screech after a positive Wednesday squeak … followed by 2 negative closes (Tuesday and Monday)

 

However, biopharma stocks are continuing to lose ground. While off the lows, Regeneron shares were down about 2%, Merck and Amgen shares fell about 1%, while Eli Lilly slid about 3%. Alnylam Pharmaceuticals was down 5%.

  • “Alongside several other areas of regulatory/policy uncertainty, we expect drug pricing to also remain an overhang on the biopharma sector, with potential for continued volatility in the group pending greater clarity,” Goldman analyst Asad Haider wrote in a note to clients. <CNBC>

 

My perspective is retail investors should NOT be dipping their toes back into the cell and gene therapy sector until after LPS (loss-per-share) earnings report.

  • NO all ins – just add those with solid partners, lengthened runways and solid cash positions leveraged by solid management teams – there I see losses going forward!

Market news i.e., tariff drive upside yet estimate and consensus misses with continued earnings LPS (loss-per-share) will shake the sector down – the vig must/will want to be be paid!

“I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!”

  • If I have learned one thing as a former research analyst in a venture and public fund, operating executive, x-FBI, x-military officer and an adjunct (MBA) business school professor now a journalist; my life and your portfolio are largely tied to knowledge of price movements and questioning pricing targets and more.

I don’t have much to write/say other than “electronic trading and uncle algo” slips in and out, back doors reaping sector disharmony and then pops right back for some profiteering.

  • What can I say, love ‘em, leave ‘em and welcome back to save the sector’s honor – “uncle algo and his electronic dwarfs.” <me>

 

May ‘25: understand the “flow” …

  • 5/8 – Thursday closed positive with 25 positive, 8 negative and 2 flats
  • 5/7 - Wednesday closed positive with 16 positive, 15 negative and 4 flats
  • 5/6 – Tuesday closed negative with 2 positive, 31 negative and 2 flats
  • 5/5 - Monday closed negative with 9 positive, 23 negative and 3 flats
  • 5/2 – Friday closed positive with 24 positive, 8 negative and 3 flats
  • 5/1 - Thursday closed negative with 14 positive, 19 negative and 2 flats

 

What could 2025 have in store for the capital access space – DESPERATE  

  • "You'll see a number of cell and gene therapy companies DESPARITE drive for financings – they’re desperate for cash, but I do think a lot of cell and gene therapy sector companies NEED to be focused on what is driving their own growth —they're focused on a lot of change BUT … that's happening in pipelines … capital expansion is second.

 

Why do I keep repeating, so investors can make the connection …

The top three (3) performing in the session:   

  • Thursday: Ultragenyx Pharmaceuticals (RARE), uniQure NV (QURE) and CRISPR therapeutics (CRSP)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and Ionis Pharmaceuticals (IONS)
  • Tuesday: MiMedx (MDXG) and Cellectis SA (CLLS)
  • Monday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and uniQure NV (QURE)

The worst three (3) in the session: 

  • Thursday: Alnylam Pharmaceuticals (ALNY), AxoGen (AXGN) and Blueprint Medicine (BPMC)
  • Wednesday: Ultragenyx Pharmaceuticals (RARE), uniQure NV (QURE) and Solid Biosciences SLDB)
  • Tuesday: uniQure NV (QURE), CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM)
  • Monday: Blueprint Medicine (BPMC), BioLife Solutions (BLFS) 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 it’s 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.