November 26, 2025 4:39pm

After a very difficult November for C&GT

Earnings: Arrowhead Pharmaceuticals (ARWR +$10.92 or +23.34% to $57.71) popped after reported FY revenue that beat analyst expectations. ARWR’s top line for the period totaled $829.4 M, beating a consensus of $861.2 M. Last week, ARWR created the 1st and only FDA approved medicine to treat complications related to familial chylomicronemia syndrome (rare autosomal recessive metabolic disorder caused by the mutation in lipoprotein lipase. It correlates with significant morbidity and distress amongst the patients)

The C&GT sector closed positive again while the CBOE Fear (VIX) index closed at 17.15 after Tuesday’s 18.56 and Monday’s 20.52

RMi collects, curates, 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 is time to KNOW and why!

Never leave an investor uninformed!  

Heading into the shortened Thanksgiving trading week still debating the odds of an interest-rate cut

RMi Pre-opening Bell: None

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.

 

The NYSE, Nasdaq, and bond markets will be closed on Thursday for the Thanksgiving holiday. The stock market will reopen on Friday for a shortened trading day, ending at 1 p.m. ET. The bond market will close early at 2 p.m. ET on Friday.

 

Wednesday: The Dow closed UP +314.67 points or +0.67%, the S&P closed UP +46.73 points or +0.69% while the Nasdaq closed UP +189.099 points or +0.82%

  • Theme of the session: a snap back to the risk-off action

Wednesday’s (my) 40-company covered sector’s advance/decline line opened positive with 20 incliners, 19 decliners and 1 flat ending with a positive close of 28 incliners, 12 decliners and 0 flat

  • 4th straight day of gains ahead of the Thanksgiving holiday.

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

  • Beige Book: Economic activity showed cooler consumer spending, muted hiring, higher prices. Overall consumer spending declined further, while higher-end retail spending remained resilient … Manufacturing activity increased somewhat. Revenues in the non-financial services sector were mostly flat to down, and reports of loan demand were mixed.  https://www.federalreserve.gov/monetarypolicy/beigebook202511-summary.htm  
  • Weekly claims for unemployment benefits dropped to their lowest level since April. During the week ending Nov. 22, initial jobless claims fell to 216,000, a decrease of 6,000 from the previous week's revised number of 222,000. The four-week average for initial jobless claims decreased slightly to 223,750 claims. Continuing claims for the week ending Nov. 15 reached 1.96 M, an increase from the previous week's level of 1.95 M, indicating that those out of work are taking longer to find new jobs.
  • Mortgage rates dropped slightly this week amid new signals that the labor market is weakening and the Federal Reserve will cut interest rates again next month.

Metrics:  Wednesday …

  • The RUT was up +20.14 points or +0.82%,
  • The XLV was down -0.35 points or -0.22%,
  • The NBI was up +50.43 points or +0.87%;
  • The XBI was up +1.48 points or +1.22%
  • The IWM was up +2.17 or +0.89%;
  • The IBB was up +1.33 points or +0.77%,
  • The VIX was down -1.41 points or -7.60% at to 17.15

 

Q4 – November - 7 positive and 11 negative closes

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

 

Wednesday Closing UP (10 of 28)

  • Alnylam Pharmaceuticals (ALNY +$15.32 after Tuesday’s -$4.43 after Monday’s -$2.15),
  • Arrowhead Pharma (ARWR +$10.92 after Tuesday’s +$2.53 after Monday’s +$3.81),
  • BioNTech (BNTX +$2.99 after Tuesday’s +$317 after Monday’s +$0.95),
  • Vertex (VRTX +$2.35 after Tuesday’s +$5.82 after Monday’s -$2.76),
  • Ionis Pharmaceuticals IONS +$1.77 after Tuesday’s +$2.41),
  • Sarepta Therapeutics (SUPN +$1.60),
  • Mesoblast (MESO +$1.31),
  • Lenz Therapeutics (LENZ +$0.84 after Tuesday’s +$2.06),
  • Capricor Therapeutics (CAPR +$0.59 after Tuesday’s -$0.04 after Monday’s -$1.11),
  • Compass therapeutics (CMPX +$0.38)

Flat (0)

Wednesday’s Closing DOWN (12 of 12):

  • Vericel (VCEL -$2.17 after Tuesday’s +$3.66 after Monday’s -$0.70),
  • uniQure NV (QURE -$0.33),
  • BioLife Solutions (BLFS -$0.31),
  • CRISPR Therapeutics (CRSP -$0.27 after Tuesday’s +$2.32 after Monday’s +$1.02),
  • Cellectis SA (CLLS -$0.20 after Tuesday’s -$0.11 after Monday’s +$0.66),
  • Regenxbio (RGNX -$0.19 after Tuesday’s +$1.22),
  • MiMedx (MDXG -$0.07),
  • Entrada Therapeutics (TRDA -$0.04),
  • Intellia Therapeutics (NTLA -$0.03),
  • IQVIA Holdings (IQV -$0.02 after Tuesday’s +$3,61 after Monday’s +$3.28),
  • Brainstorm Cell Therapeutics (BCLI -$0.02),
  • Prime Medicine (PRME -$0.01),

 

The Bottom Line: More of the … WHYs

Indexes moved higher (4th straight advance) on Wednesday, on the last day of trading before Thanksgiving as the “Street” stays upbeat on an interest-rate cut next month.

 

ENJOY your Turkey Day, try to forget the market but remember the 2 national Guard troops wounded on Wednesday in Washington, DC

 

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:

  • 11/26 – Wednesday closed positive with 28 positive, 12 negative and 0 flat
  • 11/25 – Tuesday closed positive with 24 positive, 15 negative and 1 flat
  • 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:   

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Arrowhead Pharma (ARWR) and BioNTech (BNTX)
  • Tuesday: Vertex (VRTX), Vericel (VCEL) and IQVIA Holdings (IQV)
  • Monday: Arrowhead Pharma (ARWR), IQVIA Holdings (IQV) and Ionis Therapeutics (IONS)

The worst three (3) in the session:

  • Wednesday: Vericel (VCEL), BioLife Solutions (BLFS) and UniQure NV (QURE)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Lenz Therapeutics (LENZ) and Harvard Apparatus RT (OTCQB: HRGN)
  • Monday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Capricor (CAPR)

 

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.