August 8, 2025 4:56pm

Another stalled advance/decline session during earnings season; sector breadth lackluster again, while the Russell 2000 small-cap index trimmed gains and hugged the flat line

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

Never leave an investor uninformed! 

TGIF

 

As a quantamental “plotter” I equate myself to a quantitative analyst straddling fundamental stock picking to produce better results for investors. the term “quantamental,” blends two (2) styles setting forth my difference re: retail, trading and multiple investor categories.

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

 

Friday’s RegMed Investors’ (RMi) pre-open: Fluttering and flipping … https://www.regmedinvestors.com/articles/14054

Thursday’s RegMed Investors’ (RMi) Closing Bell: Cause and effect … https://www.regmedinvestors.com/articles/14053

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

 

Friday: The Dow closed UP +206.97 points or +0.47%, the S&P closed UP +49.45 points or +0.78% while the Nasdaq closed UP +207.32 points or +0.98%

  • Theme of the session, a winning week as Trump’s trade policies play out

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

  • None

Friday’s advance/decline line opened negative with 15 incliners, 19 decliners and 1 flat ending with a negative close of 11 incliners, 23 decliners and 1 flat

  • For the week, the S&P 500 is up 2.5%, the Nasdaq +3.9% and the Dow nearly +1.4%.

Metrics:  Friday, the IBB was up +0.81%, the XBI was up +0.11% while the VIX was down – 1.42 points or -8.57% at 15.15

 

Q3 – August – 5 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)

 

Friday Closing UP (11 of 11) 

  • Alnylam Pharmaceuticals (ALNY +$3.83 after Thursday’s +$6.96 after Wednesday’s +$9.23 after Tuesday’s -$0.64 after Monday’s +$17.76),
  • Lenz Therapeutics (LENZ +$2.56),
  • BioLife Solutions (BLFS +$2.04 after Thursday’s -$0.45 after Wednesday’s +$0.36),
  • IQVIA Holdings (IQV +$0.97 after Wednesday’s -$6.44 after Tuesday’s +$1.17),
  • Ionis Pharmaceuticals (IONS +$0.59 after Thursday’s +$1.46 after Wednesday’s -$2.36 after Tuesday’s -$0.40 after Monday’s +$0.42),
  • BioNTech (BNTX +$0.31),
  • Sarepta Therapeutics (SRPT +$0.27 after Thursday’s +1.70 after Wednesday’s -$0.40 after Tuesday’s -$0.35 after Monday’s +$1.19),
  • Prime Medicine (PRME +$0.105 after Thursday’s -$0.39),
  • Solid Biosciences (SLDB +$0.10 after Thursday’s -$0.32),
  • Vericel (VCEL +$0.09),
  • Agenus (AGEN +$0.04 after Thursday’s $0.00),

Flat (1)

  • Harvard Apparatus RT (OTCQB: HRGN)

Friday’s Closing DOWN (10 of 23): 

  • CRISPR Therapeutics (CRSP -$0.96 after Thursday’s -$0.38 after Wednesday’s +$0.75 after Tuesday’s -$4.00 after Monday’s +$3.50),
  • Intellia Therapeutics (NTLA -$0.67),
  • Moderna (MRNA -$0.49),
  • Ultragenyx Pharmaceuticals (RARE -$0.29 after Thursday’s -$0.22 after Wednesday’s -$0.87 after Tuesday’s +$0.46),
  • Editas Medicine (EDIT -$0.28),
  • Mesoblast (MESO -$0.26 after Thursday’s -$0.37 after Wednesday’s +$0.07 after Tuesday’s +$0.16),
  • Beam Therapeutics (BEAM -$0.24 after Thursday’s -$0.44 after Wednesday’s -$0.31 after Tuesday’s -$0.42),
  • Supernus Pharmaceuticals (SUPN -$0.23 after Thursday’s -$0.98 after Wednesday’s +$4.91 after Tuesday’s +$0.48 after Monday’s +$1.54),
  • AxoGen (AXGN +$0.17 after Wednesday’s +$0.03 after Tuesday’s +$1.17 after Monday’s -$0.12),
  • uniQure NV (QURE -$0.17),

 

The BOTTOM LINE: Indexes rose on Friday, marking their 3rd winning week in the last 4.

My perspective is retail investors should roll-the-dice after econ readings as earnings season rolls-on and momentum wains in the cell and gene therapy sector ... might time to start ... NIBBLING some share pricing carrots!

  • 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!

For the week:

  • The S&P 500 is up 151.44 points, or 2.4%.
  • The Dow is up 587.03 points, or 1.3%.
  • The Nasdaq is up 799.89 points, or 3.9%.
  • The Russell 2000 is up 51.64 points, or 2.4%.

For the year:

  • The S&P 500 is up 507.82 points, or 8.6%.
  • The Dow is up 1,631.39 points, or 3.8%.
  • The Nasdaq is up 2,139.23 points, or 11.1%.
  • The Russell 2000 is down 11.74 points, or 0.5%.

 

Next week, investors will assess a fresh inflation print in the lead-up to the Fed's Jackson Hole symposium.

  • Optimism over a September Fed rate cut has grown since last week's poor labor market data release. Trump's nomination of Miran to serve as a Fed board governor has also fueled speculation that the central bank will be less restrictive in its monetary policy.

The summer doldrums and the earnings release cycle have … led to cell and gene therapy sector 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 with a continuous downward spiral after July ended 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 to date:

BioLife Solutions (BLFS) a net loss of -$15.8 M or -$0.02 per share, revenue of $18.3 M, a cash position of $100.2 M with a runway until 2027

Sangamo Therapeutics (NTLA) a net loss of -$20 M or -$0.08 per share, revenue of $18.3 M, a cash position of $38.3 M with a runway until Q4/25

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

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: 8/11, Monday –Agenus (AGEN) and Compass Therapeutics, 8/14, Thursday - Brainstorm Cell Therapeutics (BCLI)

 

August began as July ended: understand the “flow” …

  • 8/8 – Friday closed negative with 11 positive, 23 negative and 1 flat
  • 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:   

  • Friday: Alnylam Pharmaceuticals (ALNY), Lenz Pharmaceuticals (LENZ) and BioLife Solutions (BLFS)
  • 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: 

  • Friday: Intellia Therapeutics (NTLA), CRISPR Therapeutics (CRSP) and Moderna (MRNA)
  • 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.