August 21, 2025 4:48pm

Like “Waiting for Godot”, a tragic comedy plays-out and rate cuts also don’t arrive

After writing this a.m., “Anticipating a pop or am I dreaming?” – was right again

My “fact posts” are conveyed with a simplicity of language to highlight what is informative.

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

 

Thursday’s RegMed Investors’ (RMi) pre-open: … https://www.regmedinvestors.com/articles/14072

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

 

Thursday: The Dow closed DOWN -152.81 points or -0.34%, the S&P closed DOWN -25.61 points or -0.40% while the Nasdaq closed DOWN -72.545 points or -0.34%

  • Theme of the session, Investors are looking to hear from Fed chief Powell
  • This week so far, the Dow is down about 0.1%, the S&P 500 is down almost 1%, while the Nasdaq has lost about 2.1%.

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

  • Initial unemployment benefit filings saw a bump last week through layoffs still appear to be limited. Jobless claims totaled 235,000 for the week ending Aug. 16, up 11,000 from the prior period and higher than the consensus estimate for 225,000. It was the highest level since June 21 though still within the range of the past few years. Continuing claims, which run a week behind, rose to 1.97 M, an increase of 30,000 and the highest level since Nov. 6, 2021.
  • The Philadelphia Fed’s manufacturing index for August posted an unexpectedly weak reading of -0.3, down from 15.9 the prior month and below the estimate for 7.0. The new orders index slid to -1.9 while the prices paid index hit its highest level since May 2022. The index measures companies reporting growth against contraction.

Thursday’s advance/decline line opened negative with 10 incliners, 24 decliners and 1 flat ending with a positive close of 22 incliners, 12 decliners and 1 flat

Metrics:  Thursday, the IBB was up +0.34%, the XBI was up +0.70% while the VIX was up +1.02 points or +6.50% at 16.71

 

Q3 – August – 7 negative and 7 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

 

Thursday Closing UP (10 of 22) +$ after Wednesday’s

  • Alnylam Pharmaceuticals (ALNY +$9.24),
  • Lenz Therapeutics (LENZ +$1.31 after Wednesday’s +$0.93 after Tuesday’s -$1.16 after Monday’s +$0.92),
  • Supernus Therapeutics (SUPN +$0.64 after Wednesday’s +$0.68 after Tuesday’s -$0.99 after Monday’s +$0.30),
  • Precigen (PGEN +$0.43),
  • Ionis Pharmaceuticals (IONS +$0.42 after Wednesday’s +$0.33 after Tuesday’s -$0.95 after Monday’s -$0.35),
  • Wave Life Sciences (WVE +$0.31),
  • AxoGen (AXGN +$0.28 after Wednesday’s +$0.20),
  • Ultragenyx Pharmaceuticals (RARE +$0.16 after Wednesday’s +$0.24 after Tuesday’s -$0.58),
  • Mesoblast (MESO +$0.16 after Wednesday’s -$0.13 after Tuesday’s -$0.79 after Monday’s -$0.32),
  • Adverum Biotechnologies (ADVM +$0.15),

Flat (0)

  • Solid Biosciences (SLDB)

Thursday’s Closing DOWN (12 of 12): 

  • IQV Holdings (IQV -$6.64 after Wednesday’s -$0.15),
  • Moderna (MRNA -$0.67 after Wednesday’s -$1.02),
  • BioNTech ES (BNTX -$0.53)
  • Sarepta Therapeutics (SRPT -$0.52 after Wednesday’s +$0.40 after Tuesday’s -$0.81 after Monday’s -$0.82),
  • CRISPR Therapeutics (CRSP -$0.25 after Wednesday’s -$1.09 after Tuesday’s -$3.43 after Monday’s -$2.14),
  • MiMedx (MDXG -$0.14),
  • Intellia Therapeutics (NTLA -$0.09),
  • Cellectis SA (CLLS -$0.05 after Wednesday’s -$0.16 after Tuesday’s +$0.08),
  • Beam Therapeutics (BEAM -$0.05 after Wednesday’s -$0.29 after Tuesday’s -$0.75 after Monday’s -$0.72),
  • Fate Therapeutics (FATE -$0.02),
  • Prime Medicine (PRME -$0.02),
  • Brainstorm Cell Therapeutics (BCLI -$0.015)

 

The BOTTOM LINE:  The Dow, S&P and Nasdaq can't climb back … posting losses in the final hour of trading Thursday,

The Nasdaq trimmed a larger loss to 0.34% and is holding below its 21-day line. But small caps on the Russell 2000 index reversed higher, rising +0.2%.

Volume was significantly lower on the Nasdaq.

  • As investors seemed concerned over the Labor Department's weekly unemployment claims unexpectedly jumped
  • Concurrently, forecasts call for the Philadelphia Fed Manufacturing Index to drop to 8.0 in August, from 15.9 in July.

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!”
  • Yet, I was again on target … this a.m.

Earnings today: None

  • As earnings slowly come to the last few releases, collaborator revenues and runways has instilled share pricing with forward stability
  • Q2 results so far:  4 net incomes and 25 net losses of 29 releases to date

 

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

  • 8/21 - Thursday closed positive with 22 positive, 12 negative and 1 flat
  • 8/20 - Wednesday closed negative with 14 positive, 19 negative and 2 flats
  • 8/19 - Tuesday closed negative with 5 positive, 28 negative and 2 flats
  • 8/18 -Monday closed neutral with 18 positive, 17 negative and 0 flat
  • 8/15 – Friday - closed positive with 25 positive, 9 negative and 1 flat
  • 8/14 – Thursday closed barely positive with 18 positive, 17 negative and 0 flat
  • 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:   

  • Thursday: Alnylam Pharmaceuticals (ALNY), Lenz Pharmaceuticals (LENZ) and Supernus Therapeutics (SUPN)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Supernus Therapeutics (SUPN) and Ionis Pharmaceuticals (IONS)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Precigen (PGEN) and Cellectis SA (CLLS)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQVIA Holdings (IQV) and Lenz Pharmaceuticals (LENZ)
  • Friday: Alnylam Pharmaceuticals (ALNY), IQVIA Holdings (IQV) and Sarepta Therapeutics (SRPT)

The worst three (3) in the session: 

  • Thursday: IQVIA Holdings (IQV), Moderna (MRNA) and BioNTech (BNTX)
  • Wednesday: CRISPR Therapeutics (CRSP), Moderna (MRNA) and IQVIA Holdings (IQV)
  • Tuesday: CRISPR Therapeutics (CRSP), Lenz Pharmaceuticals (LENZ) and BioNTech (BNTX)
  • Monday: CRISPR Therapeutics (CRSP), BioNTech (BNTX) and Sarepta Therapeutics (SRPT)
  • Friday: Lenz Pharmaceuticals (LENZ), BioLife Solutions (BLFS) and Generation Bio (GBIO)

 

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.