December 26, 2025 5:00pm

Profits were taken, not deep but cashing some including 3 sessions #s

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

Never leave a retail investor uninformed!  It’s not always time to buy or sell; but it is time to KNOW and why! I chose to speak-up when many analysts have shut-up!

TGIF

Today’s session falls within the time of a"Santa Claus Rally", a historically strong 7-day stretch (12/24/25 – 1/5/26) for stocks that spans the final days of December and early January with trading volumes thin

 

Friday: The Dow closed DOWN -20.19 points or -0.04%, the S&P closed DOWN -2.11 points or -0.03% while the Nasdaq closed DOWN -20.2 points or -0.09%

  • Theme of the session: Christmas hangover

Thursday was Christmas and markets were closed

Wednesday’s The Dow closed UP +22.26 points or +0.32%, the S&P closed UP +31.30 points or +0.46% while the Nasdaq closed UP +133.015 points or +0.57%

  • Theme of the session: continue to hope for the coveted Santa Claus rally

 

Friday’s (my) 40-company covered sector’s advance/decline line opened negative with 3 incliners, 35 decliners and 2 flats ending with a negative close of 11 incliners, 28 decliners and 1 flat

  • Thursday was Christmas Holiday and markets were closed
  • Wednesday (my) 40-company covered sector’s advance/decline line opened positive with 29 incliners, 10 decliners and 1 flat ending with a posiive close of 31 incliners, 5 decliners and 4 flats

The CBOE Fear (VIX) index, Friday closed at 13.60, Thursday was Christmas, Wednesday closed at 13.80, Tuesday’s 13.95, Monday’s 14.11 and last Friday’s 14.96,

Metrics: Friday …

  • The RUT was down -13.74 points or -0.54%,
  • The XLV was up +0.25. points or +0.16%,
  • The NBI was down -32.49 points or -0.59%;
  • The XBI was down -1.32 points or -1.05%
  • The IWM was down -1.29 or -0.51%;
  • The IBB was down -1.22 points or -0.70%,
  • The VIX was up +0.13 points or +0.97% at to 13.60

 

Q4/25 – December – 1 holiday, 8 positive and 11 negative closes

  • November – 1 holiday, 8 positive and 11 negative closes
  • October -1 neutral, 11 positive and 12 negative closes

 

Friday Closing UP (11 of 11)

  • IQVIA Holdings (IQV +$0.80),
  • AxoGen (AXGN +$0.16),
  • Mesoblast (MESO +$0.10),
  • Vericel (VCEL +$0.10),
  • Brainstorm Cell Therapeutics (BCLI +$0.08)
  • Generation Bio (GBIO +$0.04),
  • Compass Therapeutics (CMPX +$),
  • Harvard Apparatus RT (OTCQB: HRGN +$0.03 with 50 shares traded),
  • Capricor Therapeutics (CAPR +$00.03.).
  • Voyager Therapeutics (VYGR +$0.01)

Flat (1)

  • Adverum Biotechnologies ADVM) – acquired

Friday’s Closing DOWN (10 of 28):

  • CRISPR Therapeutics (CRSP -$1.63),
  • Moderna (MRNA -$1.55),
  • Ionis Pharmaceuticals (IONS -$0.72),
  • BioNTech (BNTX -$0.51),
  • BioLife Solutions (BLFS -$0.51),
  • Wave Life Sciences (WVE -$0.48),
  • Ultragenyx Pharmaceuticals (RARE -$0.39),
  • uniQure NV (QURE -$0.38),
  • Regenxbio (RGNX -$0.30),
  • Lenz Therapeutics (LENZ -$0.27)

 

The Bottom Line: More of the … WHYs

Friday, indexes showed minor losses … volume was higher on the Nasdaq and lower on the NYSE versus Wednesday.

Share pricing declines weren’t that bad, probably enough to pay the Mastercharge!

Thursday was Christmas day

Wednesday, markets closed early as US stocks set more records, riding into the Christmas holiday on a high note.

 

Sanofi (SNY) will buy U.S. vaccines company Dynavax Technologies (DVAX) for around $2.2 billion (1.9 billion euros), the ‍French drugmaker <Wednesday>, a ‍deal that will give it ‍access to an approved hepatitis B vaccine.

  • Sanofi has made a string of acquisitions this year, as it looks to diversify growth beyond its blockbuster asthma drug Dupixent. It bought UK private biotech firm Vicebio for $1.5 billion in July, shortly after finalizing an ‌up ‌to $9.5 billion deal for U.S.-based rare disease drugmaker BluePrint Medicines
  • The company will ​pay $15.50 in cash per share of Dynavax, representing a 39% premium over the vaccine maker’s closing share price of $11.13 on Tuesday. Shares of Dynavax jumped 37.5% to $15.31 in U.S. pre-market hours on Wednesday.
  • Sanofi said it expected to complete the acquisition in the first quarter of 2026 and said ⁠it would use available cash. The deal would not affect its 2025 financial outlook, it added.

 

As I had also written, cash is king for investors who want to keep some liquidity and avoid having to sell in a down market,

  • I would be following share pricing’s ascension on current biotech, cell and gene therapy sector upsides; so, some profiteering can be “situated” while maintaining a position, less elevated!

Most C&GT sector equities dramatically Friday closed negative after Thursday's holiday, Wednesday's positive close having dived on Tuesday, popped on Monday, following the previous Friday and Thursday’s positive closes after Wednesday and the previous Tuesday and Monday’s decline.

 

Re Capricor Therapeutics (CAPR Friday closed +$0.01 after Wednesday’s -$0.57) …  I am STICKING to my CONVICTION that CAPR is overbought and whose valuation is disconnected from fundamentals.

  • Doubts still abound re: regulatory fragility and marginal HOPE-3 results and valuation concerns remain a key hang-up!
  • CAPR remains a structurally challenged, chronically unprofitable company whose valuation is disconnected from fundamentals.
  • It has begun; timing will be everything!

Take it a session at a time … the REAL question is … how long will this sentiment and conviction “run” last in the “clean-out-the-exposure” December?

 

4th week of December:

  • Friday closed negative with 11 positive, 28 negative and 1 flat
  • Thursday was a holiday
  • Wednesday closed positive with 31 positive, 5 negative and 4 flats - not published
  • Tuesday closed negative with 14 positive, 24 negative and 2 flats
  • Monday closed positive with 30 positive, 8 negative and 2 flats

 

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!

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 facts and truth are its products; I can always be WRONG but, I am mostly EARLY!
  • if I wanted to be liked, I wouldn’t have been an analyst/journalist.

 

Why do I keep repeating, framed in a different para, so investors can make the connection

The top three (3) performing in the session:   

  • Friday: IQVIA Holdings (IQV), AxoGen (AXGN) and Mesoblast (MESO),
  • Thursday: was a holiday
  • Wednesday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and uniQure NV (QURE)
  • Tuesday: BioNTech (BNTX), Arrowhead Pharma (ARWR) and Sarepta Therapeutics (SRPT)
  • Monday: Alnylam Pharmaceuticals (ALNY), IQVIA Holdings (IQV) and Ionis Pharmaceuticals (IONS)

The worst three (3) in the session:

  • Friday: CRISPR Therapeutics (CRSP) and Moderna (MRNA) and Ionis Pharmaceuticals (IONS)
  • Thursday: was a holiday
  • Wednesday: AxoGen (AXGN), Prime Medicine (PRME) and Entrada Therapeutics (TRDA)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Moderna (MRNA) and CRISPR Therapeutics (CRSP)
  • Monday: Lenz Therapeutics (LENZ), Entrada Therapeutics (TRDA) and BioNTech (BNTX)

 

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.