August 13, 2025 4:35pm

As earnings slowly come to the last few releases, collaborator revenues and runways has instilled share pricing with forward stability

Earnings: Fate Therapeutics (FATE), Solid Biosciences (SLDB) and Harvard Apparatus RT (OTCQB: HRGN <se The Bottom line>

  • Q2 results so far:  4 net incomes and 24 net losses of 28 releases to date

The thing about trading stocks is everyone has an opinion. There is a distinct difference between investing with indication intelligence and/or guidance to understand potential risks and reward.

Never leave an investor uninformed!  

“When you’re riding" ahead of the sector "herd", take a look back every now and then to make sure your share pricing “cows” are moving”

I answer or qualify the sector’s equity’s movement; with an emphasis on which company is gaining or losing stride in their portfolio for the short-term

 

Wednesday’s RegMed Investors’ (RMi) pre-open: a pre-vacation sojourn

RegMed Investors (RMi) Financing note: Compass Therapeutics (CMPX) Launches $129 M offering … https://www.regmedinvestors.com/articles/14061

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB): Just another wrinkle – Q2/25’s 10-Q – liabilities exceed cash position … https://www.regmedinvestors.com/articles/13812

 

Wednesday: The Dow closed UP +463.66 points or +1.04%, the S&P closed UP +20.82 points or +0.32% while the Nasdaq closed UP +31.236 points or +0.14%

  • Theme of the session, expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs

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

  • All about Thursday’s producer price index (PPI) report on wholesale inflation will add another piece of the economic picture

Wednesday’s advance/decline line opened positive with 32 incliners, 2 decliners and 1 flat ending with a positive close of 32 incliners, 2 decliners and 1 flat

  • The Russell 2000 gaining 1.4% on Wednesday as small-cap stocks are a beneficiary of lower interest rates, since they also lower the cost of capital and possibly boost consumer spending.

Metrics:  Wednesday, the IBB was up +3.10%, the XBI was up +2.60% while the VIX was down -0.32 points or -2.17% at 14.41

 

Q3 – August – 6 negative and 3 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

 

Wednesday Closing UP (10 of 32) 

  • IQVIA Holdings (IQV +$4.27 after Tuesday’s +$5.90 after Monday’s +$0.28),
  • Lenz Therapeutics (LENZ +$3.03 after Tuesday’s -$2.44 after Monday’s +$4.09),
  • Alnylam Pharmaceuticals (ALNY +$2.59 after Tuesday’s -$5.07 after Monday’s -$3.93),
  • Generation Bio (GBIO +$2.56),
  • BioNTech (BNTX +$1.78 after Tuesday’s +$1.74 after Monday’s -$2.40),
  • Ionis Pharmaceuticals (IONS +$1.69 after Tuesday’s +$0.57 after Monday’s -$0.80),
  • BioLife Solutions (BLFS +$1.62 after Tuesday’s +$1.69),
  • Sarepta Therapeutics (SRPT +$1.60 after Tuesday’s +$0.86 after Monday’s -$0.33),
  • Supernus Pharmaceuticals (SUPN +$1.40 after Tuesday’s +$0.67 after Monday’s -$0.66),
  • Vericel (VCEL +$1.39 after Tuesday’s +$1.11 after Monday’s -$0.81),

Flat (1)

  • Harvard Apparatus RT (OTCQB: HRGN)

Wednesday’s Closing DOWN (2 of 2): 

  • Agenus (AGEN -$0.27)
  • Brainstorm Cell therapeutics (BCLI -$0.07),

 

The BOTTOM LINE:  Indexes climbed on Wednesday notching back-to-back record highs as investors bet almost unanimously on a Fed rate cut at its next meeting following the latest inflation data.

  • The Dow is once again within striking distance of an all-time high last reached in December.
  • The result has been a surge in bets that the Fed would cut interest rates at its September policy meeting, especially in light of recent warning signs the labor market is weakening.
  • By Wednesday afternoon, traders had fully priced in a September cut, according to the CME Group, with bets also rising on a potential "jumbo" cut of 50 basis points.
  • Later this week, investors will get two more snapshots on the state of the economy with the release of the Producer Price Index on Thursday and retail sales data on Friday. <Yahoo finance>

The Russell 2000, which is composed of the smallest 2,000 stocks, is up 1.6% today, its 2ndconsecutive day of gains. The Russell 2000 is also on pace for its largest 2-day outperformance over the S&P 500 since Nov. 6, the day after the election.

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!

This 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.

Reiterating, the market is … has braced 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.

 

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:

Solid Biosciences (SLDB) a net loss of -$39.5 M or -$0.42 per share, zero (0) revenue, a cash position of $286.1 M with $91 M due from Kydus transaction in Q3/25 and an upcoming runway until 2026

Fate Therapeutics (FATE) a net loss of -$34.1 M or -$0.29 per share, revenue of $1.9 M, a cash position of $249 M and an upcoming runway until Q4/26

Harvard Apparatus RT (OTCQB: HRGN) a net loss of -$18.23 M or -$0.11 per share, revenue of $317 K, liabilities -$1.376 M>, a cash position of $786 K with a runway until Q3/25

Earnings yesterday:

Adverum Biotechnologies (ADVM) a net loss of -$49.2 M or -$2.34 per share, zero ($0) revenue, a cash position of $44.4 M with a $10 M PIPE closing 8/11 and a runway until 2026

 

More earnings are a’comin: Thursday - Brainstorm Cell Therapeutics (BCLI)

 

August begins as July ends: understand the “flow” …

  • 8/13 – Wednesday closed positive with 32 positive, 2 negative and 1 flat
  • 8/12 - Tuesday closed positive with 28 positive, 6 negative and 1 flat
  • 8/11 – Monday closed negative with 10 positive, 25 negative and 0 flat
  • 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

 

“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:   

  • Wednesday: CRISPR Therapeutics (CRSP), IQVIA Holdings (IQV) and Alnylam Pharmaceuticals (ALNY),
  • Tuesday: IQVIA Holdings (IQV), BioLife Solutions (BLFS) and BioNTech (BNTX)
  • Monday: Lenz Pharmaceuticals (LENZ), uniQure NV (QURE) and Compass Therapeutics (CMPX)

The worst three (3) in the session: 

  • Wednesday: Compass therapeutics (CMPX) and Agenus (AGEN)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Lenz Pharmaceuticals (LENZ) and Beam therapeutics (BEAM)
  • Monday: BioNTech (BNTX), Alnylam Pharmaceuticals (ALNY) and Vericel (VCEL)

 

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.