RMi pre-open: Navigating

October 27, 2025 7:54am

Sector earnings releases begin adding to investor agita although… an expected Fed rate cut and a Trump-Xi meeting will lighted the mood as the week and October comes to an end (Friday)

Earnings this week: IQV Holdings (IQV) on Tuesday 10/28; MiMedx (MDXG) Ionis Pharmaceuticals IONS), AxoGen (AXGN) on 10/29

Pre-open Signals: 11 Positive and 1 Negative Indications

News: Fate Therapeutics (FATE +$0.12 or +7.27% to $1.77) new and updated data from the 1^st 10 patients dosed with FT819 in a P1 clinical trial for the treatment of moderate-to-severe systemic lupus erythematosus (SLE). SLE patients with lupus nephritis (LN) surpassing a 3-month post-treatment time point (n=2) achieved complete renal response (CRR) at 6 months; first patient continues in drug-free Definition of Remission in SLE (DORIS) at 15 months follow-up

Never leave an investor uninformed … I say what others won’t, so you can do what others can’t!

Short on words, long on being judiciously predictive!

Fanning the <sector catalyst> faith: Novartis (NVS pre-open +$21.00 or +42.73% to $70.15) has agreed to buy biotechnology company Avidity Biosciences (RNA) which closed up Friday +$0.60 or +1.24% to $49.15) for about $12 billion. NVS will pay Avidity shareholders $72 a share in cash, a premium of 46% to the company’s Friday closing price… https://www.regmedinvestors.com/articles/14167

Friday night’s … RMi Closing Bell: Restoring … https://www.regmedinvestors.com/articles/14166

Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.

Monday: The pre-open Dow futures are UP +0.45% or (+215 points), the S&P futures are UP +0.79% or (+54 points) and the Nasdaq futures are UP +1.23% or (+313 points)

• Stock futures climbed up-and-away Monday 10/27
• European markets inched higher,
• Asia Pacific markets were also higher.

Henry’omics: We need to more than consider the market’s setting to grasp the micro re “our” universe of cell and gene therapy companies

• Friday: The Dow closed UP +472.51 points or +1.01%, the S&P closed UP +53.29 points or +0.79% while the Nasdaq closed UP +263.069 points or +1.15%
• Thursday: The Dow closed UP +144.20 points or +0.31%, the S&P closed UP +39.04 points or +0.58% while the Nasdaq closed UP +201.402 points or +0.89%
• 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%
• Tuesday: The Dow closed UP +218.16 points or +0.47%, the S&P closed UP +0.22 points or +0.00% while the Nasdaq closed DOWN -36.877 points or -0.16%
• Monday: The Dow closed UP +515.97 points or +1.12%, the S&P closed UP +71.12 points or +1.07% while the Nasdaq closed UP +310.568 points or +1.37%
• Last week: the S&P 500 is up +2%, the Dow +2% and the Nasdaq added +2%.
• The previous week: the S&P 500 was up +1.7%, the Dow +1.6% and the Nasdaq +2.1%.
• Last month and Q3’s numbers, the S&P 500 Q was up +7% and the month -4.2%, the Nasdaq’s Q is up +11% and the month +5% while the Dow’s Q is up +5% and the month +1%

Economic Data Docket: Durable goods (DR) and DR - transportation

• Most government economic data — including weekly and monthly jobs figures — remains postponed because of the shutdown.
• The week ahead will see central banks commanding the spotlight as the Fed, the EU Central Bank, Bank of Japan, and Bank of England weigh-in on both interest rates and the balance of economic risks.

Q4 – 1 neutral, 9 positive and 8 negative closes

• Q3 – September, 1 holiday, 9 negative and 12 positive closes; August - 11 negative and 9 positive closes; July – 1 market holiday, 13 positive and 9 negative closes

Companies in my headlights – It’s your decision; I provide ideas and context

I post about “indication intelligence” looking toward investment conferences … to assist investors with insight into sector vulnerabilities and strengths.  A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

• October began with a government shutdown and much fewer econs… along with the usual ups, downs
• Now uncertainty rules

Info:

uniQure NV (QURE) closed up +$1.68 after Thursday’s -$0.58, Wednesday’s -$3.16, Tuesday’s -$0.85 and Monday’s +$5.92 with a positive +$0.99 or +1.62% pre-open

BioNTech (BNTX) closed up +$0.91 after Thursday’s -$1.48 with a positive +$0.45 or +0.43% pre-open

Arrowhead Pharma (ARWR) closed up +$0.65 after Thursday’s -$0.28 with a positive +$1.71 or +4.50% pre-open

IQVIA Holdings (IQV) closed up +$0.62 after Thursday’s +$1.99 with a positive +$1.11 or +0.50% pre-open

Lenz Therapeutics (LENZ) closed up +$0.59 after Thursday’s -$1.32, Wednesday’s -$0.86, Tuesday’s -$2.75 and Monday’s -$1.95 with a positive +$1.58 or +4.94% pre-open

Regenxbio (RGNX) closed up +$0.45 after Thursday’s +$0.39, Wednesday’s -$0.90 after Tuesday’s +$0.45 with a positive +0.10 or +0.77% pre-open

Vertex (VRTX) closed up +$1.24 after Thursday’s -$3.81 after Wednesday’s -$0.17 after Tuesday’s +$7.17 and Monday’s +$2.29 with a positive +$0.66 or +0.16% pre-open

Ionis Pharmaceuticals (IONS) closed down -$0.64 with a positive +$0.14 or +0.20% pre-open

Mesoblast (MESO) closed down -$0.29 with a positive +0.69 or +4.10% pre-open

Intellia Therapeutics (NTLA) closed down -$0.29 after Thursday’s +$1.31 after Wednesday’s -$2.39 after Tuesday’s -$1.01 and Monday’s +$3.23 with a positive +$0.65 or +2.54% pre-open

Beam Therapeutics (BEAM) closed down -$0.24 after Thursday’s +$0.52, Wednesday’s -$2.21 after Tuesday’s -$0.73 and Monday’s +$4.64 with a negative -$3.73 or -13.34% pre-open

Fate Therapeutics (FATE closed up +$0.13 with a positive +$0.12 or +7.27% pre-open on news of clinical data

The BOTTOM LINE: I’m getting on my horse with a lantern as I ride yelling … “earnings are coming, earnings are coming”!

Earnings: IQVIA (NYSE: IQV) will be reporting earnings this Tuesday morning …

• Q3, analysts are expecting IQVIA’s revenue to grow 4.7% year on year to $4.08 billion, in line with the 4.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.98 per share.

• Looking at IQVIA’s peers in the life sciences tools & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. West Pharmaceutical Services delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 2.1%, and Medpace reported revenues up 23.7%, topping estimates by 2.7%. West Pharmaceutical Services traded up 7.5% following the results while Medpace was also up 8.9%.

All 3 of the major indexes finished last week at record closing highs, lifted by a cooler-than-expected consumer inflation report. Monday’s session equities are to open higher on Monday after top Chinese and U.S. negotiators sounded positive on their latest talks.

• The progress bolstered hopes that President Trump and Chinese leader Xi Jinping will be able to sign off on a trade agreement later this week.

Good news (Sunday post) … Novartis NVS) has agreed to buy biotechnology company Avidity Biosciences (RNA closed up Friday +$0.60 or +1.24% to $49.15) for about $12 billion. NVS will pay Avidity shareholders $72 a share in cash, a premium of 46% to the company’s Friday closing price. The deal is expected to close in the 1H/26, after RNA spins out parts of its business, including its early-stage precision cardiology programs.

Bad news, not so bad or no news … in the coming week is a reason to consider adding or subtract as needed to “portfolio exposure” as proximity to earnings release come to appear …

• If the Fed meeting and trade talks are positive catalysts, investors will want to get more aggressive.
• As sector earnings meet, beat or miss expectations; whipsaw actions could ensue depreciations or the stock market heads south, back pedal -- fast.

The shutdown enters its 27th day today, with lawmakers still unable to agree on a funding bill … as Democrats block the 13th negotiation

Two days of U.S.-China trade talks in Malaysia ended with both sides saying they reached agreement on many issues, setting the stage for President Trump and Chinese President Xi Jinping to finalize a deal.

• U.S. Trade Representative Jamieson Greer told reporters early Sunday that "we're moving forward to the final details" and "we have a really good chance of making a very comprehensive deal."
• A Chinese official said there's agreement on export controls, fentanyl and shipping levels.
• However, Trump has already imposed a 35% base tariff on Canadian goods, but those that fall under the US-Canada-Mexico Agreement are exempted. <IBD>

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

October: understand the new “flow” …

Last week:

• 10/24 - Friday closed positive with 25 positive, 13 negative and 2 flats
• 10/23 – Thursday closed negative with 15 negative, 22 negative and 3 flats
• 10/22 – Wednesday closed negative with 4 positive, 34 negative and 2 flat
• 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

The previous 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

Q3 Earnings are in the front-view mirror; we start this week …!

• More with Supernus Therapeutics (SUPN) on 11/4 followed by Moderna (MRNA) and Vericel (VCEL) on 11/6with Moderna (MRNA) on 11/6

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. All investments are subject to risks. Investors should consider investment objectives.

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.  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.