August 7, 2025 4:39pm

Econs and earnings affects share pricing spewing confidence chaos

Earnings today: Prime Medicine (PRME), Intellia Therapeutics (NTLA) and Regenxbio (RGNX) <see The Bottom Line>

While the present and future value of RegMed Investors (RMi) earnings sheds light on the cell and gene therapy sector’s “current” acrobatics

Never leave an investor uninformed!  

My perspective is retail investors should roll-the-dice with econ readings as earnings season kicks-in and momentum wains in the cell and gene therapy sector.

NO all ins as historically “our” universe slips and slides as the “season’ resumes; so, hang-in with those with solid partners, lengthened runways and solid cash positions leveraged by solid/stable management teams!

 

Thursday’s RegMed Investors’ (RMi) pre-open: Econs and tariffs set the tone but not the content … BREAKING … https://www.regmedinvestors.com/articles/14052

Wednesday’s RegMed Investors’ (RMi) Closing Bell: An undertow depleted the sector … https://www.regmedinvestors.com/articles/14051

RegMed Investors (RMi) Research Note: Sustaining a Loser … https://www.regmedinvestors.com/articles/13812

 

Thursday: The Dow closed DOWN -224.48 points or -0.51%, the S&P closed DOWN -5.06 points or -0.08% while the Nasdaq closed UP +73.27 points or +0.35%

  • Theme of the session, bogged by earning, impacted by tariffs and taunted by econs

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

  • Jobless claims nudged higher last week while long-term unemployment continued to rise. Initial filings for unemployment insurance totaled a seasonally adjusted 226,000 for the week ending Aug. 2, up 7,000 from the prior period and higher than the consensus estimate for 221,000. Continuing claims, which run a week behind, continued their ascent. The rolls of those collecting for multiple weeks increased to 1.97 M, up 38,000 from the prior week and the highest since Nov. 6, 2021.
  • Nonfarm productivity increased 2.4% in Q2, higher than the 2% estimate, while unit labor costs rose 1.6%, just 0.1% point above forecast.

Thursday’s advance/decline line opened negative with 12 incliners, 21 decliners and 2 flats ending with a negative close of 9 incliners, 22 decliners and 2 flats

  • Week to date, the S&P 500 is up 1.3%, the Nasdaq +2.4% and the Dow nearly +1%.

Metrics:  Thursday, the IBB was down -0.26%, the XBI was down -0.83% while the VIX was down -0.06 points or -0.36% at 16.71

 

Q3 – August – 4 negative and 1 positive closes

  • July – 1 market holiday, 13 positive and 9 negative closes

Q2/25: June – 1 market holiday, 1 neutral, 9 negative and 11 positive closes, May – 1 market holiday, 10 negative and 11 positive closes and April – 11 positive and 10 negative closes

 

Coverage Dropped: bluebird bio (BLUE) Private Equity acquired, Blueprint Medicine (BPMC) acquired by SNY, Homology Medicine (FIXX), Sage Therapeutics (SAGE) acquired by SUPN, Verve Therapeutics (VERV) – acquired by LLY

Added: BioNTech (BNTX), Sarepta Therapeutics (SRPT), Supernus Pharma (SUPN), IQVIA Holdings (IQV) and Wave Life Sciences Ltd. (WVE)

 

Thursday Closing UP (9 of 9) 

  • Alnylam Pharmaceuticals (ALNY +$6.96 after Wednesday’s +$9.23 after Tuesday’s -$0.64 after Monday’s +$17.76),
  • Lenz Therapeutics (LENZ +$1.95),
  • Sarepta Therapeutics (SRPT +$1.70 after Wednesday’s -$0.40 after Tuesday’s -$0.35 after Monday’s +$1.19),
  • IQVIA Holdings (IQV +$ after Wednesday’s -$6.44 after Tuesday’s +$1.17),
  • Ionis Pharmaceuticals (IONS +$1.46 after Wednesday’s -$2.36 after Tuesday’s -$0.40 after Monday’s +$0.42),
  • AxoGen (AXGN +$0.36 after Wednesday’s +$0.03 after Tuesday’s +$1.17 after Monday’s -$0.12),
  • Intellia Therapeutics (NTLA -$0.32),
  • Precigen (PGEN +$0.05),
  • BioNTech SE (BNTX +$0.05)

Flat (2)

  • Agenus (AGEN)
  • Harvard Apparatus RT (OTCQB: HRGN)

Thursday’s Closing DOWN (10 of 24): 

  • Supernus Pharmaceuticals (SUPN -$0.98 after Wednesday’s +$4.91 after Tuesday’s +$0.48 after Monday’s +$1.54),
  • BioLife Solutions (BLFS -$0.45 after Wednesday’s +$0.36),
  • Beam Therapeutics (BEAM -$0.44 after Wednesday’s -$0.31 after Tuesday’s -$0.42),
  • Wave Life Sciences (WVE -$0.42 after Wednesday’s -$0.30),
  • Prime Medicine (PRME -$0.39),
  • CRISPR Therapeutics (CRSP -$0.38 after Wednesday’s +$0.75 after Tuesday’s -$4.00 after Monday’s +$3.50),
  • Mesoblast (MESO -$0.37 after Wednesday’s +$0.07 after Tuesday’s +$0.16),
  • Regenxbio (RGNX -$0.33),
  • Solid Biosciences (SLDB -$0.32),
  • Ultragenyx Pharmaceuticals (RARE -$0.22 after Wednesday’s -$0.87 after Tuesday’s +$0.46),

 

The BOTTOM LINE: The summer doldrums and the earnings release cycle have … led to pullbacks in July and August with an upcoming rise in September.

  • Investors are squirming through this depreciation but should bask in an upcoming rally and should be focused on buying these dips and not sell the rips to play catch-up…

Botton line, once earnings season abates, cell and gene therapy equities will be due for gains over the coming months, as they face a 2-prong seasonally weak period.

 

Reiterating, the market is … also bracing for a historically weak month … August is the worst month for the Dow in data going back to 1988, and the 2nd worst for the S&P 500 and Nasdaq according to the Stock Trader’s Almanac.

  • Investors should buckle up as August and September roll around, according to Canaccord Genuity pointing to the historical underperformance of the 2 months — particularly September, known as “The September Effect.”
  • “Going back to 1957, the S&P 500 in September has been down on average -0.74% and has shown positive performance only 43% of the time. August on its own is marginally better with an average return of ~0.20%, and Aug-Sep taken together is the worst-performing 2-month sequential combination on the calendar,” the bank wrote.

 

August began In a downward spiral after July ended barely better than past months; although, I considered the so-called summer rally … “peripatetic or wandering.”

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

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!”

 

Earnings today:

Prime Medicine (PRME) a net loss of -$33.4 M or -$0.57 per share, revenue of $5.2 M, a cash position of $262 M with a runway until 2028

Intellia Therapeutics (NTLA) a net loss of -$33.4 M or -$0.57 per share, revenue of $5.2 M, a cash position of $262 M with a runway until 2028

Regenxbio (RGNX) a net loss of -$33.4 M or -$0.57 per share, revenue of $5.2 M, a cash position of $262 M with a runway until 2028

Voyager Therapeutics (VYGR) a net loss of -$33.4 M or -$0.57 per share, revenue of $5.2 M, a cash position of $262 M with a runway until 2028

 

Earnings to date:

Sarepta Therapeutics (SRPT) a net income of +$196.9 M or -$1.89 per share, revenue of $611.1 M, a cash position of $850.3 M and a runway until 2027

Supernus Pharma (SUPN) a net income of +$22.5M or +$0.40 per share with revenue of $165.5 M and a cash position of $522.6 and a runway beyond 2028

Ultragenyx Pharmaceuticals (RARE) a net loss of -$114.9 M or -$1.17 per share, revenue of $166.5 M, a cash position of $339 M with a runway until 2027

Beam Therapeutics (BEAM) a net loss of -$102.3M or -$1.00 per share with revenue of $8.7 M and a cash position of $1.2 B and a runway beyond 2028

AxoGen (AXGN) a net income of +$579 K or +0.01 per share, revenue of $56.7 M, a cash position of $35.9 M with a runway until 2026

Moderna (MRNA) a net loss of -$0.8 B, or -$2.13 per share with revenue of $142 M, an R&D and an SG&A decrease and a cash position of $7.5 B with a runway until 2026 <beats revenue estimate and earnings consensus>.

Sage Therapeutics (SAGE): net loss of -$49.7 M or -$0.79 per share, revenue of $23.2M, a cash position of $366 M – acquired

Vericel (VCEL): net loss of -$0.06 M or -$0.01 per share, revenue of $63.2M, a cash position of $164 M and a runway until 2027

Alnylam Pharmaceuticals (ALNY): net loss of -$66.3 M or -$0.51 per share, revenue of $773.7 M, a cash position of $2.86 B and a N/A runway

Lenz Therapeutics (LENZ): net loss of -$14.9 M or -$0.53 per share, revenue of $5 M, a cash position of $209.6 M and a runway until 2026

uniQure NV (QURE) a net loss of -$37.7 M, or -$0.69 per share with revenue of $5.3 M, an R&D increase and an SG&A decrease and a cash position of $377.7 M with a runway until 2H/27 <missed revenue estimate and consensus>

Ionis Pharmaceuticals (IONS) a net income of +124 M, or +$0.70 per share with revenue of $452 M, and a cash position of $2.3 B with a runway until FY28 < estimate and consensus beats>

MiMedx (MDXG) a net income of +$100 M or +$0.06 per share with revenue of $99 M and a cash position of $100 M with a runway until 2026.

BioNTech (BNTX) a net loss of (€)387 M or (€)1.60 per share with revenue of (€)260.8 M and a cash position of (€)160.8 B and a runway beyond 2027

Wave Life Sciences Ltd. (WVE) a net loss of -$50.5 m or -0.31 per share, revenue of $8.7 M, a cash position of $208.5 M with a runway until 2027

 

More earnings are a’comin: 8/7 Thursday = Intellia Therapeutics (NTLA) and Regenxbio (RGNX)

 

August begins: understand the “flow” …

  • 8/7 – Thursday closed negative with 9 positive, 24 negative and 2 flats
  • 8/6 - Wednesday closed negative with 11 positive, 22 negative and 2 flats
  • 8/5 – Tuesday closed negative with 15 positive, 19 negative and 1 flat
  • 8/4 – Monday closed positive with 27 positive, 8 negative and 0 flat
  • 8/1 – Friday closed negative with 9 positive, 20 negative and 6 flats

Last week (July):

  • 7/31 - Thursday closed negative with 3 positive, 25 negative and 7 flats
  • 7/30 - Wednesday closed negative with 12 positive, 18 negative and 5 flats
  • 7/29 – Tuesday closed negative with 8 positive, 22 negative and 5 flats
  • 7/28 – Monday closed negative with 14 positive, 16 negative and 5 flats

“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 was once told by a “very” prominent figure early in my career, “write it right, keep it tight without hype and never lose the stride to guide the reader” – they were pretty simple instructions to follow!

 

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

The top three (3) performing in the session:   

  • Thursday: Alnylam Pharmaceuticals (ALNY), Lenz Pharmaceuticals (LENZ) and Sarepta therapeutics (SRPT)
  • Wednesday: Supernus Pharmaceuticals (SUPN), Alnylam Pharmaceuticals (ALNY) and CRISPR Therapeutics (CRSP)
  • Tuesday: Lenz Pharmaceuticals (LENZ), AxoGen (AXGN) and Supernus Pharmaceuticals (SUPN)
  • Monday: Alnylam Pharmaceuticals (ALNY), BioNTech (BNTX) and CRISPR Therapeutics (CRSP)

The worst three (3) in the session: 

  • Thursday: Supernus Pharmaceuticals (SUPN), BioLife Solutions (BLFS) and Beam Therapeutics (BEAM)
  • Wednesday: IQVIA Holdings (IQV), Ionis Pharmaceuticals (IONS) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: Vericel (VCEL), Alnylam Pharmaceuticals (ALNY) and Beam Therapeutics (BEAM)
  • Monday: Lenz Pharmaceuticals (LENZ), AxoGen (AXGN) and Compass Therapeutics (CMPX)

 

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.