December 10, 2025 8:16am

Financing: Wave Life Sciences (WVE) prices upsized $350 M Offering of 17,789,475 shares at $19.00. With pre-funded warrants to purchase up to 2,631,578 ordinary shares at an offering price of $18.9999 per pre-funded warrant. Expecting to raise $350 M. Get it while you can!

Pre-open Signals: 1 Positive and 4 Negative Indications

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

WVE Offering:  Jefferies, Leerink Partners and BofA Securities are acting as joint book-running managers for the offering. Truist Securities and Mizuho are acting as book-runners for the offering.

RMi Closing Bell: Speed bump … https://www.regmedinvestors.com/articles/14222  

RMi Research Note: Harvard Apparatus GT (OTCQB: HRGN): I reiterate WHO is PACKING the Pig that’s Broke … https://www.regmedinvestors.com/articles/13812

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

 

Wednesday: The pre-open Dow futures are DOWN -0.08% or (-40 points), the S&P futures are DOWN -0.12% or (-8 points) and the Nasdaq futures are DOWN -0.25% or (-64 points)

  • Stock futures are light and negative, Wednesday, 12/10
  • European markets are also slipping lower,
  • Asia Pacific markets are mixed and mostly down

 

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

  • Tuesday: The Dow closed DOWN -179.03 points or -0.38%, the S&P closed DOWN -6 points or -0.09% while the Nasdaq closed UP +30.582 points or +0.13%
  • Monday: The Dow closed DOWN -215.67 points or -0.45%, the S&P closed DOWN -23.89 points or -0.35% while the Nasdaq closed DOWN -32.224 points or -0.14%
  • Last week: The S&P 500 is up +0.3%, the Dow +0.5% and the Nasdaq is up +0.9%.
  • The previous week: The S&P 500 increased +4%. the Dow +3% and the Nasdaq jumped 1%.
  • November ended: the S&P 500 and Dow were slightly higher, as the Nasdaq fell 2%,

Economic reporting: NFIB optimism index, Job Openings (delayed report)

 

Q4 – December, 3 positive and 4 negative closes

  • November, 1 holiday, 8 positive and 11 negative sessions
  • October, 1 neutral, 10 positive and 12 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.

Pre-open, I take the top 10 and bottom 10 of the previous session's closes to measure the potential of the morning’s possibles ...

Vericel (VCEL) closed up +$1.08 after Monday’s +$1.07 after Friday’s -$0.56 with a negative -$0.20 or -0.52% pre-open

Arrowhead Pharma (ARWR) closed up +$0.23 after Monday’s +$1.76 after Friday’s -$3.22 with a negative -$0.83 or +1.21% pre-open

Vertex (VRTX) closed down -$5.03 after Monday’s -$13.44 after Friday’s -$1.88 with a negative -$1.08 or -0.25% pre-open

Capricor Therapeutics (CAPR) closed down -$1.18 after Monday’s +$1.67 after Friday’s +$1.49 with a positive +$0.19 or +0.99% pre-open.

  • The indicators reflect the pre-open; my opinion does NOT; I believe a SEC investogation is due to dramatic/rapid uplift post news and pre-offering!

uniQure NV (QURE -$0.99 after Monday’s +$0.44 after Friday’s -$1.41 with a negative -$0.08 or -0.38% pre-open

 

The BOTTOM LINE: Still feeling the what … anxiety with a small dose/feeling of optimism!

Welcome to my world of defining the “grey’ in our universe!

  • The stock market rally continues to show strength and breadth, with the key indexes nearing record highs and a variety of leading stocks flashing buy signals but, I say a downdraft!
  • With a downside end-of-month and year rotation and rebalance, In the last of December and 2025, it means investors have to be careful of slippage targets.

 

Limit the risk …

 

This week:

  • 12/9 - Tuesday closed negative with 10 positive, 27 negative and 3 flats
  • 12/8 - Monday closed positive with 22 positive, 16 negative and 2 flat

Last week:

  • 12/5 – Friday closed negative with 13 positive, 26 negative and 1 flat
  • 12/4 – Thursday closed positive with 26 positive, 12 negative and 2 flats
  • 12/3 – Wednesday closed positive with 35 positive, 4 negative and 1 flat
  • 12/2 - Tuesday closed negative with 10 positive, 29 negative and 1 flat
  • 12/1 – Monday closed negative with 5 positive, 31 negative and 0 flat

 

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!

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

 

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.