May 9, 2025 5:11pm

Writing this a.m., “end it, be ready for fallback positions, the algos always want their “vig” for upside assistance”
The sector dropped like a stone post the mid-session

As investors await much-anticipated trade talks between U.S. and Chinese officials this weekend

Earnings: uniQure NV (QURE) Net loss of -$43.6 M or -$0.52, collaboration revenue or $1.6 M, cash of $409 M in cash with a 23H/2027 runway.

Never leave an investor uninformed!  

The week of 5/5 - 5/9 ends on a sour note

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.

 

Friday’s RegMed Investors’ (RMi) pre-open: end it … https://www.regmedinvestors.com/articles/13912

Thursday night’s RegMed Investors (RMi) Closing Bell: UK trade deal helps sector share pricing … https://www.regmedinvestors.com/articles/13911

 

 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

 

Friday: The Dow closed DOWN -119.07 points or -0.29%, the S&P closed DOWN -4.03 points or -0.07% while the Nasdaq closed UP +0.78 points or +0.00%

  • Indexes were skimming along the surface like a stone in a shallow pool and then sinking

 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

  • Total household credit and debit card spending only rose 1% year-over-year in April. On a monthly basis, card spending per household was flat, according to according to BofA economist Aditya Bhave.

Friday’s advance/decline line opened with a positive 23 incliner, 10 decline and 2 flats ending with a negative close of 10 incliners, 23 decliners and 2 flats  

Metrics:  Friday, the IBB was down -2.55%, the XBI was down -1.65% while the VIX was down -0.58 points or -2.58% at 21.90

 

Q2/25 – May – 4 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 10) 

  • BioLife Solutions (BLFS +$0.93 after Thursday’s +$1.02 after Wednesday’s -$0.61 after Tuesday’s -$2.25 after Monday’s -$1.07),
  • uniQure NV (QURE +$0.54 after Thursday’s +$2.19 after Wednesday’s -$1.42 after Tuesday’s -$4.41 after Monday’s +$1.12),
  • Lenz Therapeutics (LENZ +$0.47 after Thursday’s +$0.53 after Wednesday’s -$0.55 after Tuesday’s -$3.21 after Monday’s -$0.42),
  • Regenxbio (RGNX +$0.37 after Thursday’s -$0.09 after Wednesday’s -$0.68 after Tuesday’s -$1.84 after Monday’s -$0.64),
  • Beam Therapeutics (BEAM +$0.16),
  • Cellectis SA (CLLS +$0.06),
  • Editas Medicine (EDIT +$0.06),
  • Compass Therapeutics (CMPX +$0.04),
  • Fate Therapeutics (FATE +$0.01),
  • Generation Bio (GBIO +$0.0002 after Thursday’s -$0.03),

Flat (2)

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

Friday’s Closing DOWN (10 of 23): 

  • Alnylam Pharmaceuticals (ALNY -$7.20 after Thursday’s -$18.20 after Wednesday’s +$6.74 after Tuesday’s +$3.74 after Monday’s +$14.16),
  • Blueprint Medicine (BPMC -$1.59 after Thursday’s -$1.04 after Wednesday’s +$0.64 after Tuesday’s -$2.67 after Monday’s -$2.81),
  • AxoGen (AXGN -$1.23 after Thursday’s -$3.80) earnings and CFO loss,
  • Ultragenyx Pharmaceuticals (RARE -$0.87 after Thursday’s+$2.56 after Wednesday’s -$1.64 after Tuesday’s -$3.81 after Monday’s -$0.43),
  • CRISPR Therapeutics (CRSP -$0.52 after Thursday’s+$1.89 after Wednesday’s +$1.09 after Tuesday’s -$4.57 after Monday’s -$0.63),
  • Ionis Pharmaceuticals (IONS -$0.49 after Thursday’s-$0.32 after Wednesday’s +$1.21),
  • Mesoblast (MESO -$0.44 after Thursday’s +$0.38 after Wednesday’s +$0.17),
  • MiMedx (MDXG -$0.37 after Thursday’s +$0.44 after Wednesday’s +$0.37 after Tuesday’s +$0.03 after Monday’s +$0.30)
  • Adverum Biotechnology (ADVM -$0.31),
  • Voyager Therapeutics (VYGR -$0.26),

 

The BOTTOM LINE: cell and gene therapy sector started the week …weak, then weaker ending with a Friday Humpty-Dumpty negative fall post Thursday and Wednesday’s positive closes … followed by 2 negative closes (Tuesday and Monday)

May ‘25: understand the “flow” …

  • 5/9 - Friday closed negative with 10 positive, 23 negative and 2 flats
  • 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

 

I usually write/say “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>

 

From Thursday, “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 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.

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

The top three (3) performing in the session:   

  • Friday: BioLife Solutions (BLFS), uniQure NV (QURE) and Lenz Therapeutics (LENZ)
  • 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: 

  • Friday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and AxoGen (AXGN)
  • 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.