RegMed Investors’ (RMi) pre-open: Walking into a brick wall or another econ dimension

July 14, 2025 7:22am

Econs This Week: CPI, PPI, more Initial Jobless Claims, Fed Beige book, Empire State and Philadelphia Fed manufacturing survey and a few more contributing to this week 7/14 to 7/18

NEWS: Ultragenyx Pharmaceutical (RARE -$1.11 or -3.76% to $28.40 aftermarket) the FDA has issued a Complete Response Letter (CRL) for its Biologics License Application (BLA) for UX111 (ABO-102) AAV gene therapy as a treatment for patients with Sanfilippo syndrome type A (MPS IIIA). While the CRL will delay the potential approval of UX111 to 2026, we are working with urgency to respond and resubmit. Once resolution is achieved, the company expects to resubmit the BLA and anticipates up to a 6-month review period to follow the resubmission.

Pre-Open Signals: 4 Negative and 1 Positive Indications

Never leave an investor uninformed …

I say what others won’t, so you can do what others can’t!

If you’re interested in investing in the cell and gene therapy sector, it’s required to identify/postulate if “conditions” are attractive

Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.

My interpretation of the morning’s numbers is written to be informative; it’s built on what happened to make “it” happen today!

Friday’s night’s … RegMed Investors (RMi) Closing Bell:  the market and sector toed the trip wire … https://www.regmedinvestors.com/articles/13994

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB): PONZI Scheme at its best or was convicted Bernie Madoff also resurrected … https://www.regmedinvestors.com/articles/13812

Monday: The pre-open Dow futures are DOWN -0.27% or (-120 points), the S&P futures are DOWN -0.31% or (-20 points) and the Nasdaq futures are DOWN -0.36% or (-82 point)

• U.S. equity futures dived Monday, 7/14 with further tariff news and Q2 earnings beginning,
• European stocks opened lower as investors react to latest tariff news,
• Asia-Pacific markets closed mixed

Expectation economists polled by the WSJ expect headline inflation to rise 0.3% for June:

• Tuesday’s CPI report is a market mover this week…
• That would raise the 12-month headline CPI rate to 2.7%, up from 2.4% in the prior month.
• Core inflation, a more closely watched measure that strips out volatile food and energy costs, is also forecasted to increase 0.3% on a monthly basis and 3% on an annual basis.
• Services inflation carries much more weight in the CPI report — accounting for roughly 57% of the reading, compared with just 20% for core goods inflation.
• However, if the June CPI report shows services inflation spiking again, along with a broad demand-driven increase in price pressures, investors will be “much more concerned that there’s something underlying the numbers that is not related to tariffs, and it could give the Fed more justification for delaying a rate cut.” <Thierry Wizman, global foreign-exchange and rates strategist at Macquarie Group. MarketWatch>

Henry’omics: We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies

• Friday: The Dow closed DOWN -279.13 points or -0.63%, the S&P closed DOWN -20.71 points or -0.33% while the Nasdaq closed DOWN -45.14 points or -0.22%
• Thursday: The Dow closed UP +192.34 points or +0.43%, the S&P closed UP +17.20 points or +0.27% while the Nasdaq closed UP +19.33 points or +0.09%
• Wednesday: The Dow closed UP +217.54 points or +0.49%, the S&P closed UP +37.74 points or +0.61% while the Nasdaq closed UP +192.87 points or +0.95%
• Tuesday: The Dow closed DOWN -165.60 points or -0.37%, the S&P closed DOWN -4.46 points or -0.07% while the Nasdaq closed UP +5.95 points or +0.03%
• Monday: The Dow closed points or DOWN -422.17 points or -0.94%, the S&P closed DOWN – 49.37points or -0.79% while the Nasdaq closed DOWN -188.59 points or -0.92%
• Last week, the S&P 500 dipped 0.3%, the Dow fell 1% and the Nasdaq dived -0.1%.

Economic Data Docket: NONE

Q3 – July – 1 market holiday, 6 positive and 2 negative closes

Q2  

• June – 1 market holiday, 1 neutral, 8 negative, and 11 positive closes
• May – 1 market holiday, 10 negative and 11 positive closes
• April – 10 negative and 11 positive closes

Companies in my headlights – It’s your decision; I provide ideas and context

I post about “indication intelligence” looking toward investment conferences … to assist investors with insight into sector vulnerabilities and strengths.  A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

• Yet again, I am passing on forecasting the daily indications due to algos and electronic trading, vacation and newest highs after a pillage (Friday) of share pricing … it is still a mix of ups, downs and just uncertainty

Although …

Ultragenyx Pharmaceuticals (RARE) see in title with a negative -$1.01 or -3.63% to $28.44 pre-open

Agenus (AGEN) closed up +$1.14 with a negative -$0.11 or -0.99% pre-open

Alnylam Pharmaceuticals (ALNY) closed down -$7.70 after Thursday’s +$1.77, Wednesday’s +$3.32, Tuesday’s -$6.63 and Monday’s -$7.78 with a negative -$1.01 or -0.32% pre-open

CRISPR Therapeutics (CRSP) closed down -$2.20 after Thursday’s -$1.08, Wednesday’s+$5.28, Tuesday’s +$3.62 and Monday’s -$0.980 with a negative -$0.62 or -1.09% pre-open

Beam Therapeutics (BEAM) closed down -$0.87 after Thursday’s +$0.57, Wednesday’s +$1.17, Tuesday’s +$1.11 and Monday’s -$0.83 with a positive +0.03 or +0.14% pre-open

The BOTTOM LINE: July is here and summer doldrums, econs, tariff conflicts, vacations and selling before the earnings cycle to pay for the lobster rolls.

• CPI, PPI, more IJC, Fed Beige book, Empire State and Philadelphia Fed manufacturing survey … this week 7/14 to 7/18

We are about to enter the heart of earnings season with the S&P 500 (SPX) & (SPY) facing a critical test as major financial institutions kick off quarterly results amid escalating trade tensions.

• Financial markets, which have shown increasing insensitivity to tariff threats from the US, will ALSO … face a test at the Monday open after President Trump declared a 30% rate for the European Union and Mexico effective Aug. 1.

Analysts are watching themes including the expectation of continued growth and the effect of tariffs on corporate results.

“I also 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!”

Cell and gene therapy sector equities closed Friday negative after positive Thursday and Wednesday continued the run to the upside after Tuesday positive close after diving on Monday

• After last week popping multiple positive closes (Thursday, Wednesday, Tuesday and Monday) in this new month, July and Q.

To characterize July, to understand the “flow” of markets, the cell and gene therapy sector and economic karma…

• 7/11 – Friday closed negative with 5 positive, 28 negative and 2 flats
• 7/10 – Thursday closed positive with 19 positive, 14 negative and 2 flats
• 7/9 – Wednesday closed positive with 28 positive, 5 negative and 2 flats
• 7/8 - Tuesday closed positive with 22 positive, 10 negative and 3 flats
• 7/7 – Monday closed negative with 6 positive, 27 negative and 2 flats
• 7/4 – Friday was a market holiday
• 7/3 – Thursday closed positive with 23 positive, 6 negative and 6 flats
• 7/2 - Wednesday closed positive with 24 positive, 7 negative and 4 flats
• 7/1 – Tuesday closed positive with 21 positive, 11 negative and 3 flats
• 6/30 - Monday closed positive with 20 positive, 11 negative and 4 flats

Reiterating, “There are always some big ifs, especially given some of the headlines that could emanate after a past few months of news flatulence.

• Some believe in a “June Swoon;” however, June will be no better or worse than any other month. Although, I consider the so-called summer rally after the peripatetic or wandering.”

As always, I brace myself for more volatility, economics and their down trending affect?

Welcome to my world of defining the “grey’ in our universe!

• I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

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. All investments are subject to risks. Investors should consider investment objectives.

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.  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.