November 24, 2025 5:00pm

Indexes and the C&GT sector bolted upward again while the VIX, CBOE Fear index closed at 20.52 after Friday’s 23.51

News: Capricor Therapeutics (CAPR -$1.11 or -19.30% to $4.64) New Data Demonstrating a Scalable Framework for Loading Therapeutic Oligonucleotides into Exosomes – GOBBLEDYGOOK, keep walking away!

Pre-open Indication Scoring: 6 Hits and 3 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

It’s not always time to buy or sell; but, it’s time to KNOW why!

Never leave an investor uninformed!  

Sarepta Therapeutics (SRPT +$1.22 or +6.90% to $18.91) progress in the P1/2 multiple ascending dose (MAD) clinical study of SRP-1003 (formerly ARO-DM1), an investigational small interfering RNA (siRNA) therapeutic for the treatment of type 1 myotonic dystrophy (DM1).

Arrowhead Pharmaceuticals (ARWR +$3.81 or +9.42% to $44.26) has earned a $200 M milestone payment from Sarepta Therapeutics (SRPT). The milestone was earned when ARWR achieved the second development milestone event in a P1/2 clinical study of ARO-DM1, also called SRP-1003, an investigational RNA interference (RNAi) therapeutic for the treatment of type 1 myotonic dystrophy (DM1), the most common adult-onset muscular dystrophy. In accordance with the license and collaboration agreement, ARWR expects to receive this payment within 60 days.

 

Investors are heading into the shortened Thanksgiving trading week still debating the odds of an interest-rate cut; as San Francisco Fed President Mary Daly said she would support an interest rate cut at the central bank’s December meeting.

RMi Pre-opening Bell: Always waiting … https://www.regmedinvestors.com/articles/14206

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 UP +202.86 points or +0.44%, the S&P closed UP +102.13 points or +1.55% while the Nasdaq closed UP +598.922 points or +2.69%

  • Theme of the session: a rebound into the coming Thanksgiving holiday

Monday’s (my) 40-company covered sector’s advance/decline line opened positive with 30 incliners, 9 decliners and 1 flat ending with a positive close of 25 incliners, 14 decliners and 1 flat

  • Trading volumes expect to be thin in the coming days

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

  • Expectations for a December rate cut jumped noticeably after NY Fed President Williams signaled he sees room for “further adjustment” to interest rates; with a 70% probability that the Fed will trim rates by another ¼ point at its final meeting on Dec. 10

Metrics:  Monday …

  • The RUT was up +44.70 points or +11.89%,
  • The XLV was up +0.65 points or +0.42%,
  • The NBI was up +81.57 points or +1.46%;
  • The XBI was up +2.93 points or +2.51%
  • The IWM was up +4.30 or +1.83%;
  • The IBB was up +2.19 points or +1.31%,
  • The VIX was down -2.91 points or -12.42% at to 20.52

 

Q4 – November - 5 positive and 11 negative closes

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

 

Monday Closing UP (10 of 25)

  • Arrowhead Pharma (ARWR +$3.81 after Friday’s +$2.36),
  • IQVIA Holdings (IQV +$3.28 after Friday’s +$7.81),
  • Ionis Pharmaceuticals IONS +$2.43 after Friday’s +$2.97),
  • Lenz Therapeutics (LENZ +$2.38 after Friday’s +$1.84),
  • AxoGen (AXGN +$1.52),
  • Beam Therapeutics (BEAM +$1.41 after Friday’s +$1.61),
  • Sarepta Therapeutics (SRPT +$1.22),
  • CRISPR Therapeutics (CRSP +$1.02),
  • BioNTech (BNTX +$0.95 after Friday’s -$1.38,
  • Cellectis SA (CLLS +$0.66 after Friday’s -$0.09),

Flat (1)

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

Monday’s Closing DOWN (10 of 14):

  • Vertex (VRTX -$2.76 after Friday’s +$4.44),
  • Alnylam Pharmaceuticals (ALNY -$2.15 after Friday’s -$9.41),
  • Capricor Therapeutics (CAPR -$1.11),
  • Ultragenyx Pharmaceuticals (RARE -$0.81 
  • Vericel (VCEL -$0.70 after Friday’s +$1.73),
  • Entrada Therapeutics (TRDA -$0.22),
  • BioLife Solutions (BLFS -$0.18 after Friday’s +$2.33),
  • Supernus Therapeutics (SUPN -$0.17),
  • Voyager Therapeutics (VYGR -$0.08),
  • uniQure NV (QURE -$0.06 after Friday’s -$0.07),

 

The Bottom Line: More of the … WHYs

The Nasdaq popped … while the S&P and Dow moved as renewed expectations that the Fed may slash its benchmark interest rate at its December meeting.

The final stretch of November may be no easier.

  • With trading volumes expected to thin out in the coming days and few meaningful catalysts ahead of the Fed’s December policy meeting, volatility could pick up.
  • Brown noted that any upcoming economic data releases – including September U.S. retail sales and September producer price index data on Tuesday – that signal a “stagflationary environment” could be a driver. <CNBC>

Delayed economic data releases will start to flow in this week, helping with those calculations.

  • On Tuesday, markets get September updates on producer prices and retail sales, and a November reading of consumer confidence, among other data. <Yahoo Finance>

President Trump's tariffs are also in play, as top US and EU trade officials meet for their first talks since the 2 sides reached a deal in July.

  • Markets are weighing how the Supreme Court might jump in its ruling on whether the orders imposing tariffs were legal.
  • The Commerce Department and the Office of the US Trade Representative are reportedly preparing a roadmap if the decision goes against the administration. <yahoo Finance>

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.

 

November: understand the “flow” …

This week:

  • 11/24 - Monday closed positive with 25 positive, 14 negative and 1 flat

Last week:

  • 11/21 - Friday closed positive with 30 positive, 9 negative and 1 flat
  • 11/20 – Thursday closed negative with 8 positive, 31 negative and 1 flat
  • 11/19 – Wednesday closed negative with 10 positive, 27 negative and 3 flats
  • 11/18 – Tuesday closed negative with 18 positive, 21 negative and 1 flat
  • 11/17 – Monday closed negative with 19 positive, 20 negative and 1 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:   

  • Monday: Arrowhead Pharma (ARWR), IQVIA Holdings (IQV) and Ionis Therapeutics (IONS)
  • Friday: Vertex (VRTX), IQVIA Holdings (IQV) and Ionis Therapeutics (IONS)

The worst three (3) in the session:

  • Monday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Capricor (CAPR)
  • Friday: Alnylam Pharmaceuticals (ALNY), BioNTech (BNTX) and Cellectis SA (CLLS)

 

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.