October 17, 2025 5:02pm

Sector equities’ back-and-forth week’s pricing at week’s end, after Friday’s dive capped a turbulent week of 2 negative, 2 positive closes and 1 neutral close

News: Agenus (AGEN -$0.11 or -2.76% to $3.88) new data from its botensilimab (BOT), a multifunctional, Fc-enhanced CTLA-4 antibody and balstilimab (BAL), a PD-1 inhibitor, combination demonstrating durable survival across multiple cancer types in late-stage patients who have limited treatment options. The results, include emerging 2-year survival plateaus indicating a strong clinical signal that BOT/BAL’s benefit may be agnostic to tumor type.

Me, no Don Quixote as 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 and complex.  I see myself as a collector and my responsibility is to further educate and lead investors to interpreted data as I bridge the gap to an investment decision.

Never leave an investor uninformed! 

TGIF

Sector wipes-out after sell-off as risk factors heightened by the fear quotient, VIX closing Friday at 20.83, Thursday’s 25.12, Wednesday’s 20.41, Tuesday’s 20.36 following Monday’s 19.05 as shutdown proceeds to 17 days. A separate gauge of the volatility of the VIX; the VVIX, is up around 40% over the same time period and trading at the highest levels since early April

RMi pre-open: BYE … https://www.regmedinvestors.com/articles/14154

Bigger issue, easing unemployment would complicate investors' growing confidence that the Fed will cut rates in both October and December.

 

Friday: The Dow closed UP +238.37 points or +0.52%, the S&P closed UP +34.94 points or +0.53% while the Nasdaq closed UP +117.437 points or +0.52%

  • Theme of the session: indexes inched as Friday cell and gene therapy sector’s FEAR sell-off

Henry’omics: We need to more than consider the macro-economic environment to comprehend the micro re “our” universe of cell and gene therapy

  • Thanks, there’s no government-compiled econ data dealt …
  • Although, Goldman Sachs’ economists estimated initial weekly jobless claims falling to about 217,000 for the week ending Oct. 11. That’s down from the previous week’s 234,000 and below the Dow consensus estimate for 230,000 with continuing claims were little changed at 1.92 M.
  • Bloomberg also chimed-in, applications for US unemployment benefits fell to 215,000 during the week that ended Oct. 11 from 234,000 the previous week.

Friday’s (my) 40-company covered sector’s advance/decline line opened negative with 9 incliners, 31 decliners and 0 flat ending with a negative close of 11 incliners, 28 decliners and 1 flat

Metrics:  Friday, the RUT was down -11.84 points or -0.60%, the IBB was up +0.77 points or +0.50%, the XLV was up +0.95 points or +0.67%, the XBI was down -0.11 points or -0.10% while the VIX was down -4.48 points or -17.70% at 20.83

 

Q4 – 1 neutral, 7 positive and 5 negative closes

Q3 – September - 1 holiday, 9 negative and 12 positive closes; August - 12 negative and 9 positive closes; July - 1 market holiday, 13 positive and 9 negative closes

 

Friday Closing UP (11 of 11)

  • Vertex (VRTX +$8.20 after Thursday +$0.71 after Wednesday’s -$4.32, Tuesday’s +$4.85 and Monday +$0.42),
  • CRISPR Therapeutics (CRSP +$0.72 after Thursday -$7.39 after Wednesday’s +$2.44, Tuesday +$1.09 and Monday -$4.81),
  • Alnylam Pharmaceuticals (ALNY +$0.60 after Thursday +$10.80),
  • Vericel (VCEL +$0.57 after Thursday +$1.16, Wednesday -$1.05, Tuesday’s +$1.15 and Monday +$1.64),
  • Precigen (PGEN +$0.51),
  • Supernus Therapeutics (SUPN +$0.41),
  • Beam Therapeutics (BEAM +$0.19 after Thursday -$1.40 and Wednesday’s +$1.77),
  • Capricor Therapeutics (CAPR +$0.09 after Thursday -$0.53, Wednesday’s -$0.01, Tuesday’s -$0.02 and Monday’s -$0.37),
  • MiMedx (MDXG +$0.06),
  • BioNTech (BNTX +$0.06 after Thursday +$0.74 after Wednesday +$1.73),
  • Ionis Pharmaceuticals (IONS +$0.02 after Thursday +$0.68),

Flat (1)

  • Harvard Apparatus RT (OTCQB: HRGN)

Friday’s Closing DOWN (10 of 28):

  • Lenz Therapeutics (LENZ -$2.19 after Thursday’s -$1.40 and Wednesday’s +$3.05),
  • Arrowhead Pharma (ARWR -$2.16 after Thursday’s +$0.78, Wednesday +$2.23, Tuesday -$0.29 and Monday’s +$0.84),
  • uniQure NV (QURE -$1.99 after Thursday’s -$2.84, Wednesday’s +$3.87, Tuesday -$3.06 and Monday’s +$0.57),
  • Ultragenyx Pharmaceuticals (RARE -$1.34 and Thursday’s +$0.54),
  • IQV Holdings (IQV -$1.20 after Thursday’s +$2.67, Wednesday -$1.64, Tuesday’s +$0.87 and Monday +$5.60),
  • Moderna (MRNA -$1.13 after Thursday’s -$0.58, Wednesday’s +$1.47 and Tuesday -$0.49),
  • Mesoblast (MESO -$1.02),
  • Sarepta Therapeutics (SRPT -$0.83 and Thursday’s +$1.14),
  • Regenxbio (RGNX -$0.61),
  • BioLife Solutions (BLFS -$0.54 after Thursday’s -$1.02, Wednesday’s +$1.09 and Tuesday +$0.24),

 

The Bottom Line: More of the … WHYs …

Indexes luckily rose on Friday as President Trump softened his tariff stances on China, while regional bank stocks began to recover from significant losses amid investor jitters over bad loans and US credit quality.

  • Drawing parallels to 2023's Silicon Valley Bank collapse.
  • As global credit markets are on edge as fresh loan blowups fuel credit risk concerns and stir memories of the 2023 US regional banking crisis.

For the week:

  • The S&P 500 is up 111.50 points, or 1.7%.
  • The Dow is up 711.01 points, or 1.6%.
  • The Nasdaq is up 475.54 points, or 2.1%.
  • The Russell 2000 is up 57.58 points, or 2.4%.

With and in a probabilistic approach: “Risk” is binary; in my view volatile and algorithmic!

  • The shutdown completed its 3rd week.

 

Sector Q3 earnings begin with IQV Holdings (IQV) on 10/28, MiMedx (MDXG), AxoGen AXGN) MiMedx (MDXG) Ionis Pharmaceuticals IONS), AxoGen AXGN) on 10/29 with Moderna (MRNA) on 11/6

  • I believe earnings per share (EPS) estimates need to be revised along with the response to their share pricing declines upon their release to shake-off pipeline uncertainties
  • Meeting earnings expectation and/or missing consensus will deem share pricing outcomes
  • Post earnings, I think it's important to focus on fundamentals, advancing clinical catalysts, “runways” and sector company’s capacity/ability to finance

As the leading voice of cell and gene therapy investors; I am NOT always a doom and gloom analyst/journalist but a man who has been “there” (BUY, SELL, VC and multiple operating roles) with the gray hair and a readership following with real numbers to prove it!

 

October: understand the “flow” …

  • 10/17 – Friday closed negative with 11 positive, 28 negative and 1 flat
  • 10/16 - Thursday closed negative with 17 positive, 22 negative and 1 flat
  • 10/15 - Wednesday closed positive with 31 positive, 9 negative and 1 flat
  • 10/14 - Tuesday closed positive with 28 positive, 12 negative and 0 flat
  • 10/13 - Monday closed neutral with 20 positive, 20 negative and 0 flat

Last week:

  • 10/10 – Friday closed negative with 3 positive, 37 negative and 0 flat
  • 10/9 - Thursday closed positive with 21 positive, 19 negative and 0 flat
  • 10/8 – Wednesday closed positive with 29 positive, 10 negative and 1 flat
  • 10/7 – Tuesday closed negative with 15 positive, 25 negative and 0 flat
  • 10/6 – Monday closed negative with 17 positive, 22 negative and 1 flat

The previous week:

  • 10/3 – Friday closed positive with 27 positive, 10 negative and 3 flats
  • 10/2 - Thursday closed positive with 26 positive, 13 negative and 1 flat
  • 10/1 – Wednesday closed positive with 26 positive, 14 negative and 0 flat

 

Welcome to my world of defining the “grey’ in our universe!

  • I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.
  • “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!”

 

Why do I keep repeating, framed in a different para, so investors can make the connection

The top three (3) performing in the session:   

  • Friday: Vertex (VRTX), CRISPR Therapeutics (CRSP) and Alnylam Pharmaceuticals (ALNY)
  • Thursday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and Vericel (VCEL)
  • Wednesday: uniQure NV (QURE), Lenz Therapeutics (LENZ) and CRISPR Therapeutics (CRSP)
  • Tuesday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Vericel (VCEL)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and Vericel (VCEL)

The worst three (3) in the session:

  • Friday:  Lenz Therapeutics (LENZ), Arrowhead Pharma (ARWR) and uniQure NV (QURE)
  • Thursday: CRISPR Therapeutics (CRSP), uniQure NV (QURE) and Beam therapeutics (BEAM)
  • Wednesday: Vertex (VRTX), IQV Holdings (IQV) and Vericel (VCEL)
  • Tuesday: uniQure NV (QURE), Sarepta Therapeutics (SRPT) and Moderna (MRNA)
  • Monday: CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM) and Adverum Biotechnologies (ADVM)

 

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.