September 17, 2025 4:35pm
The cell and gene therapy sector responded in its usual alternating downtrend as I have written “econs have been poison” to our universe
Again, investors felt pain, “riding the skids of uncle algo and his electronic trading dwarfs” by the cell and gene therapy sector’s being sold through
Never leave an investor uninformed!
The Federal Open Market Committee lowered its benchmark overnight lending rate by a ¼% (25-basis) point in an 11 to 1 vote, putting the overnight funds rate in a range between 4%-4.25%. The central bank also signaled 2 interest rate cuts will be implemented during the remainder of the year.
No Don Quixote … yet, I continually ask, what do all these stock sources, I-Banks and brokers do for you anyway? Technological advances and the increasing availability of data have made intel both available, capable and complex. I see myself as a better collector and my responsibility is to lead investors to interpreted data as I bridge the gap to an investment decision.
Wednesday’s RMi pre-open: A fait-accompli … https://www.regmedinvestors.com/articles/14110
RMi Research note: Sanofi (SAN-PA) has frozen R&D investment decisions in the U.K. … https://www.regmedinvestors.com/articles/14106
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 +260.42 points or +0.57%, the S&P closed DOWN -6.41 points or -0.10% while the Nasdaq closed DOWN -72.63 points or -0.33%
- Theme of the session, the “dot plot” grid determined the quarterly Summary of Economic Projections
- One of the biggest winners of the day was the small cap-focused Russell 2000, which jumped 0.4%. The index is now around 1% away from its closing all-time high record notched in November 2021.
- “There are no risk-free paths now. It’s not incredibly obvious what to do,” Powell said.
Henry’omics: We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy
- Building permits and new construction both were well below expectations in August. Permits totaled a seasonally adjusted annualized rate of 1.31 M for the month, down 3.7% from the upwardly revised July rate and below the consensus estimate for 1.37 M. Housing starts, the numbers were almost identical, at 1.307 M, down 8.5% from the slightly revised July level and also below the 1.37 M forecast. Completions rose 8.4% from July but were off the same % from a year ago.
Wednesday’s my 40-company covered sector’s advance/decline line opened positive with 26 incliners, 13 decliners and 1 flat ending with a negative close of 10 incliners, 30 decliners and 0 flat
Metrics: Wednesday, the IBB was up +0.06%, the XBI was up +0.03% while the VIX was down -0.72 points or -4.40% at 15.64
Q3 – 1 holiday, 6 negative and 6 positive closes
- August – 12 negative and 9 positive closes
- July – 1 market holiday, 13 positive and 9 negative closes
Wednesday Closing UP (10 of 10)
- Lenz Therapeutics (LENZ +$0.94 after Tuesday’s +$1.28 after Monday’s -$1.33),
- Supernus Therapeutics (SUPR +$0.81 after Tuesday’s $0.00 after Monday’s -$1.47),
- Harvard Apparatus RT (OTCQB: HRGN +$0.165),
- Moderna (MRNA +$0.16 after Tuesday’s +$0.96 after Monday’s +$0.37),
- Intellia Therapeutics NTLA +$0.14 after Tuesday’s +$0.70 after Monday’s +$0.15),
- AxoGen (AXGN +$0.09),
- Agenus AGEN +$0.08),
- Solid Biosciences (SLDB +$0.06 after Tuesday’s -$0.08 and Monday’s +$0.10),
- Brainstorm Cell Therapeutics BCLI +$0.04 after Tuesday’s -$0.0955),
- Voyager Therapeutics (VYGR +$0.01)
Flat (0)
Wednesday’s Closing DOWN (10 of 30):
- Alnylam Pharmaceuticals (ALNY -$9.51),
- Vertex Pharmaceuticals (VRTX -$4.21 after Tuesday’s -$1.85 and Monday’s -$1.12),
- Vericel (VCEL -$3.21 after Tuesday’s +$1.81 and Monday’s -$0.76),
- CRISPR Therapeutics (CRSP -$2.12 after Tuesday’s +$3.35 and Monday’s +$1.58),
- BioNTech SE (BNTX -$1.11 after Tuesday’s +$1.38 and Monday’s +$1.14),
- Sarepta Therapeutics (SRPT -$1.04),
- Ultragenyx Pharmaceuticals (RARE -$0.77),
- Mesoblast (MESO -$0.53)
- Beam Therapeutics (BEAM -$0.46 after Tuesday’s +$1.63 and Monday’s +$0.68),
- BioLife Solutions (BLFS -$0.40),
The BOTTOM LINE: More of the … WHYs …
Fed cuts, cell and gene therapy sector “ruts” being sold from the news.
- Indexes were mixed on Wednesday after the Fed ushered in the first US interest rate cut of 2025.
- The Fed delivered its first interest-rate cut of the year, as the “the Fed sees this as the first cut of a bunch or whether we could quickly be back in wait-and-see mode. New quarterly projections lean toward the former scenario.”
Fed Chair Powell said during a press conference that the Fed decision was a "risk management cut" as the labor market has been deteriorating against a backdrop of elevated inflation.
- That balance of risks, Powell noted, is unusually complex: “Ordinarily, when the labor market is weak, inflation is low. And when the labor market is really strong, that’s when you should be careful about inflation. We have a situation where we have two-sided risk. There’s no risk-free path.”
- The Summary of Economic Projections showed a wide range of views among Fed officials, with most penciling in at least one additional cut this year. But opinions diverged on how far policy should ease.
- Powell said the dispersion was “natural” given the highly "unusual" backdrop facing the US economy.
A VERY interesting review:
From the pharma front: a catalyst
- Eli Lilly (LLY) said its experimental pill outperformed Novo Nordisk’s (NVO) own oral drug in the first head-to-head study comparing the 2 medicines in patients with Type 2 diabetes. Eli Lilly said its pill, orforglipron, was superior at the trial’s main goal of lowering blood sugar levels at 52 weeks compared to NVO’s oral semaglutide, and helped patients lose more weight. But it’s less clear how LLY’s pill compares to a higher dose of oral semaglutide, especially in patients who are overweight or have obesity without diabetes.
As I have written, “Econs have been poison to our universe” … onerous as they have been today Wednesday
September: understand the “flow” …
- 9/17 – Wednesday closed negative with 10 positive, 30 negative and 0 flat
- 9/16 - Tuesday closed positive with 29 positive, 9 negative and 2 flats
- 9/15 - Monday closed negative with 17 positive, 22 negative and 1 flat
Interesting: President Trump suggested that companies should report earnings results on a semi-annual basis — or every 6 months — rather than every Q.
Also, the market priced a 25-basis point cut to interest rates, the 1st of this year. The biggest question now is what the US central bank's rate path will be for the remainder of 2025.
Welcome to my world of defining the “grey’ in our universe!
- “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: Lenz Therapeutics (LENZ), Supernus Therapeutics (SUPN) and Harvard Apparatus RT (OTCQB: HRGN)
- Tuesday: CRISPR Therapeutics (CRSP), Vericel (VCEL) and Beam Therapeutics (BEAM)
- Monday: CRISPR Therapeutics (CRSP), Mesoblast (MESO) and Beam Therapeutics (BEAM)
- Friday: Solid Biosciences (SLDB), Lenz Therapeutics (LENZ) and CRISPR Therapeutics (CRSP)
The worst three (3) in the session:
- Wednesday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Vericel (VCEL)
- Tuesday: Vertex (VRTX), uniQure NV (QURE) and Wave Life Sciences (WVE)
- Monday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and uniQure NV (QURE)
- Friday: BioNTech (BNTX), Vertex (VRTX) and IQV Holdings (IQV)
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.
