November 17, 2025 4:48pm

As I wrote this a.m., the C&GT sector was “due a “pos”itive that didn’t show!

Responding to market forces, breath and down trend to descend again in a very close (1) A/D (advance/decline) Line

While the VIX was up +2.58 points or +13% at to 22.73 from Friday’s 19.83

Pre-open Indication Scoring: 3 Hits and 5 Miss

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

Never leave an investor uninformed!  

Investors will also be eyeing Thursday’s release of the September nonfarm payrolls reading, the first to be released in the wake of the economic data blackout from the U.S. government shutdown.

RMi pre-open: Risk-on or risk-off trading? … https://www.regmedinvestors.com/articles/14198  

RMi Research Note: Harvard Apparatus GT (OTCQB): Broke … https://www.regmedinvestors.com/articles/13812

The peril facing the cell and gene therapy (C&GT) sector’s share pricing isn’t just applications of macro or even micro econs, sentiment or algorithms within electronic trading; it’s losing highly reliable, accurate and transparent data.

 

Monday: The Dow closed DOWN -557.24 points or -1.18%, the S&P closed DOWN -61.70 points or -0.92% while the Nasdaq closed DOWN -192.514 points or +0.84%

  • Theme of the session: dragged anxiety, rumor and weak knees

Monday’s (my) 40-company covered sector’s advance/decline line opened positive with 21 incliners, 18 decliners and 1 flat ending with a negative close of 19 incliners, 20 decliners and 1 flat

  • Monday’s moves, the S&P 500 is now off nearly 3% in November after notching gains for 6-straight months, the Nasdaq is down -6% and the S&P 500 is off by -6% this month and down -8% from its high.

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

  • New York Fed Empire State Manufacturing Index much higher than expecting posted a reading of 18.7 for the month, up 8 points from the prior month and the highest level in a year. The index measures the percentage difference in companies seeing growth against those reporting contraction. Internally, the new orders index jumped more than 12 points while inventories also increased and the employment measure inched higher. Both the prices paid and received indexes fell on a monthly basis but were still showing that most companies intend to raise prices.

Metrics:  Monday …

  • The RUT was down -46.85 points or -1.96%,
  • The IWM was down -4.74 or -2%;
  • The IBB was up +1.07 points or +0.65%,
  • The NBI was up +48.52 points or +0.88%;
  • The XLV was down -0.13 points or -0.09%,
  • The XBI was up +0.82 points or +0.72% … while
  • The VIX was up +2.58 points or +13% at to 22.73 from Friday’s 19.83

 

Q4 – November - 3 positive and 8 negative closes

  • October -1 neutral, 11 positive and 12 negative closes

 

Monday Closing UP (10 of 19)

  • Alnylam Pharmaceuticals (ALNY +$11.38 after Friday’s -$4.81),
  • CRISPR Therapeutics (CRSP +$2.79 after Friday’s +$1.42),
  • Ionis Pharmaceuticals (IONS +$1.71 after Friday’s +$1.71),
  • uniQure NV (QURE +$0.45 after Friday’s -$0.46),
  • Prime Medicine (PRME +$0.437),
  • Mesoblast (MESO +$0.32),
  • Beam Therapeutics (BEAM +$0.30),
  • Cellectis SA (CLLS +$0.24 after Friday’s +$0.33),
  • Voyager Therapeutics (VYGR +$0.18),
  • Lenz Therapeutics (LENZ +$0.10 after Friday’s -$0.89),

Flat (1)

  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Friday’s -$0.010 (with 3800 shares traded), Thursday’s $0.00, Wednesday’s -$0.01, Tuesday’s $0.00 and Monday’s $0.00)

Monday’s Closing DOWN (10 of 20):

  • IQVIA Holdings (IQV -$4.47 after Friday’s -$2.95),
  • Vertex (VRTX -$3.13 after Friday’s +$2.63),
  • Sarepta Therapeutics (SRPT -$1.27 after Friday’s +$0.99),
  • Arrowhead Pharma (ARWR -$1.11 after Friday’s +$0.12),
  • Ultragenyx Pharmaceuticals (RARE -$0.54 after Friday’s +$0.18),
  • Vericel VCEL -$0.43),
  • BioNTech (BNTX -$0.42 after Friday’s -$0.79),
  • Regenxbio (RGNX -$0.37),
  • MiMedx (MDXG -$0.28)
  • Entrada Therapeutics (TRDA -$0.28)

 

The Bottom Line: More of the … WHYs

Indexes extended their losses … with the C&GT sector equities barely squeezing through the A/D (advance/decline) Line.

  • C&GT sector equities continue to be level share pricing as Q3 earnings release

I have seen share pricing interruption … from earnings expectation and consensus always considering earnings season LPS (loss-per-share).

  • Think about it; one of the biggest problems with the cell and gene therapy sector’s share pricing is …  99% of them have no earnings! Revenue from collaborations and runways have become indications of sustainability.
  • 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
  • As earnings evolve, 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!

A real question, are cell and gene therapy (C&GT) sector companies with high insider ownership present … opportunity?

  • Do they often demonstrate alignment between management and shareholder interests … a critical factor in navigating volatile market conditions?
  • I will be looking into this …! Stay tuned.

 

New week and month, November: understand the “flow” …

New week:

  • 11/17 – Monday closed negative with 19 positive, 20 negative and 1 flat

Last week:

  • 11/14 - Friday closed negative with 19 positive, 21 negative and 0 flats
  • 11/13 – Thursday closed negative with 8 positive, 32 negative and 0 flat
  • 11/12 – Wednesday closed negative with 18 positive, 22 negative and 0 flat
  • 11/11 – Tuesday closed positive with 34 positive, 4 negative and 2 flats
  • 11/10 - Monday closed positive with 26 positive, 14 negative and 0 flats

 

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:   

  • Monday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Ionis Pharmaceuticals (IONS)
  • Friday: Vertex (VRTX), Ionis Pharmaceuticals (IONS) and CRISPR Therapeutics (CRSP)

The worst three (3) in the session:

  • Monday: IQVIA Holdings (IQV), Vertex (VRTX) and Vertex (VRTX)
  • Friday: Alnylam Pharmaceuticals (ALNY), IQVIA Holdings (IQV) and BioLife Solutions (BLFS)

 

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.