October 22, 2025 4:35pm

Danger was perceived in this morning’s post and many others are a reminder of the importance of being alert to early warning signs … as the canary in the C&GT (coal) mine, I today identify the probable toxicity of share pricing breadth

The cell and gene therapy (C&GT) sector faces elevated risk advancing through October as earnings LPS (loss-per-share) releases are being prepared predicating the usual downward spiral. IQV Holdings (IQV) on 10/28 will be the 1st followed by MiMedx (MDXG), AxoGen AXGN) MiMedx (MDXG) Ionis Pharmaceuticals IONS), AxoGen AXGN) on 10/29.

RMi collects, interprets and disseminates cell and gene therapy sector (C&GT) news, intel and share pricing data to bridge the gap to an investment decision

Never leave an investor uninformed!  

The C&GTY sector responded in its usual alternating downtrend as I have written “algos have been poison” to our universe

Wednesday’s RMi pre-open: Impressions … https://www.regmedinvestors.com/articles/14160

The US government shutdown persists 22 days after 11 Senate votes to continue rejection

 

Wednesday: The Dow closed DOWN -334.33 points or -0.71%, the S&P closed DOWN -35.94 points or -0.53% while the Nasdaq closed DOWN -213.27 points or -0.93%

  • Theme of the session: China trade fears and missed earnings’ expectation

Wednesday’s (my) 40-company covered sector’s advance/decline line opened negative with 18 incliners, 29 decliners and 3 flat ending with a negative close of 4 incliners, 34 decliners and 2 flats

  • The Cboe Volatility Index popped to 18.69 from Tuesday’s 18.03, Monday’s 18.48 as compared to Friday’s 20.83 (having seen 28 at one point on Friday)

Metrics:  Wednesday …

  • The RUT was down -36.14 points or -1.45%,
  • The IBB was down -2.11 points or -1.35%,
  • The XLV was up +0.83 points or +0.57%,
  • The XBI was up +2.24 points or +2.04% while
  • The VIX was up +0.83 points or +3.85% at 18.69

 

Q4 – 1 neutral, 8 positive and 7 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

 

Wednesday Closing UP (4 of 4) 

  • AxoGen (AXGN +$0.56 after Tuesday’s +$0.52),
  • Vertex (VRTX -$0.17 after Tuesday’s +$7.17 after Monday’s +$2.29),
  • Compass Therapeutics (CMPX +$0.06)
  • Sangamo therapeutics (SGMO +$0.0155),

Flat (2)

  • Harvard Apparatus RT (OTCQB: HRGN)
  • Supernus Therapeutics (SUPN),

Wednesday’s Closing DOWN (10 of 34): 

  • Alnylam Pharmaceuticals (ALNY -$9.10 after Tuesday’s -$7.22 after Monday’s +$9.55),
  • CRISPR Therapeutics (CRSP -$5.80 after Tuesday’s -$1.65 after Monday’s +$4.82),
  • uniQure NV (QURE -$3.16 after Tuesday’s -$0.85 after Monday’s +$5.92),
  • Intellia Therapeutics (NTLA -$2.39 after Tuesday’s -$1.01 after Monday’s +$3.23),
  • Beam Therapeutics (BEAM -$2.21 after Tuesday’s -$0.73 after Monday’s +$4.64),
  • Mesoblast (MESO -$1.19 after Tuesday’s +$0.72),
  • Ultragenyx Pharmaceuticals (RARE -$1.05),
  • Regenxbio (RGNX -$0.90 after Tuesday’s +$0.45),
  • Sarepta Therapeutics (SRPT -$0.88 after Tuesday’s +$0.30),
  • Lenz Therapeutics (LENZ -$0.86 after Tuesday’s -$2.75 after Monday’s -$1.95),

 

The Bottom Line: More of the … WHYs

As I wrote this a.m., “Retail investors may want to be cautious about directional/trending equities, keeping 1 finger ready for a BUY ticket and another on a SELL button if the market moves decisively higher or lower.”

  • The small cap-focused Russell 2000 tumbled 2% in the session.
  • The S&P 500 fell just under 1%.

US stocks slid on Wednesday as investors fielded the latest wave of earnings …

  • While markets remain on alert or trade-war developments, with President Trump injecting fresh uncertainty around tensions with China and as a report said the president could consider steep restrictions on US software exports to China.
  • At the same time, the US and India are reportedly closing in on a deal to cut tariffs on Indian exports to as low as 15% from the current 50%.

“I also 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!”

The government shutdown continues, now the 3rd-longest 22nd day federal work stoppage in US history; with no plans in motion to end the closure, even as economic pressures mount having completed its 4th week (depends how one counts).

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 Supernus Therapeutics (SUPN) on 11/4 followed by 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” …

This week:

  • 10/22 – Wednesday closed negative with 4 positive, 34 negative and 2 flats
  • 10/21 - Tuesday closed negative with 17 positive, 23 negative and 0 flat
  • 10/20 - Monday closed positive with 34 positive, 4 negative and 2 flats

Last week:

  • 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

 

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:   

  • Wednesday: AxoGen (AXGN), Compass Therapeutics (CMPX) and Sangamo Therapeutics (SGMO)
  • Tuesday: Vertex (VRTX), IQV Holdings (IQV) and Mesoblast (MESO)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQV Holdings (IQV) and uniQure NV (QURE)
  • Friday: Vertex (VRTX), CRISPR Therapeutics (CRSP) and Alnylam Pharmaceuticals (ALNY)

The worst three (3) in the session:

  • Wednesday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and uniQure NV (QURE)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Lenz Therapeutics (LENZ) and Ionis Pharmaceuticals (IONS)
  • Monday: Lenz Therapeutics (LENZ), Compass Therapeutics (CMPX) and Cellectis SA (CLLS)
  • Friday:  Lenz Therapeutics (LENZ), Arrowhead Pharma (ARWR) and uniQure NV (QURE)

 

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.