January 14, 2026 4:53pm

Connections are solidified post/during conference in hallway chance, off-site and cocktail “meetings”; CEOs visiting as many as possible

Pre-Open Indications: 3 Hits and 0 Miss

Beige Book economic activity increased at a slight to modest pace, wholesale prices moved up less than expected while consumers kept up a heavy buying pace in November; excluding food and energy, core PPI was flat on the month against expectations for a 0.2% gain

RMi collects, curates, interprets and disseminates cell and gene therapy sector (C&GT) fact-based news, trustable and verified intel of share pricing data bridging 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 why!

I chose to speak-up when many analysts, brokers and commentators have shut-up!

 

Wednesday’s RMi Pre-opening: Day #3, JP Morgan healthcare Conference … https://www.regmedinvestors.com/articles/14267   

RMi Research Note: Capricor Therapeutics (CAPR) DUMP before the next big SLUMP! … https://www.regmedinvestors.com/articles/14249

RMi Research Note: Harvard Apparatus GT (OTCQB: HRGN): A new financing attempt? … https://www.regmedinvestors.com/articles/13812

 

The U.S. Supreme Court again passed on delivering a ruling regarding President Trump’s tariffs, prolonging a cloud of uncertainty over a major economic issue.

Wednesday: The Dow closed DOWN -42.36 points or -0.09%, the S&P closed DOWN -37.14 points or -0.53% while the Nasdaq closed DOWN -238.123 points or -1%

  • Theme of the session: earnings and geopolitical developments

Tuesday’s (my) 40-company covered sector’s advance/decline line opened negative with 17 incliners, 20 decliners and 3 flats ending with a positive close of 27 incliners, 11 decliners and 2 flats

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

  • The producer price index, a measure of final demand prices that producers get in the marketplace, rose just 0.2% for the month, according to seasonally adjusted figures from the Bureau of Labor Statistics. That was below the consensus for a 0.3% gain though 1/10th of a % point higher than October. Excluding food and energy, core PPI was flat on the month against expectations for a 0.2% gain.
  • Shares of homebuilders fell in early trading Wednesday after Federal Housing Finance Authority Director Bill Pulte told The Wall Street Journal that the Trump administration is looking into stock buybacks made by those companies.
  • Beige Book: Overall economic activity increased a slight to modest pace in 8 of the 12 Federal Reserve Districts, with 3 Districts reporting no change and one reporting a modest decline. This marks an improvement over the last 3 report cycles where a majority of Districts reported little change. Most banks reported slight to modest growth in consumer spending this cycle, largely attributed to the holiday shopping season.  <https://www.federalreserve.gov/monetarypolicy/beigebook202601-summary.htm  >

The CBOE Fear (VIX) index, Wednesday closed at 16.74, after Tuesday’s 16.74, Monday’s 15.09, Friday’s 14.48, Thursday’s 15.47 and last Wednesday’s 15.34

Metrics: Wednesday …

  • The RUT was up +18.53 points or +0.70%,
  • The XLV was up +1.12 points or +0.71%,
  • The NBI was up +66.16 points or +1.15%;
  • The XBI was up +2.97 points or +%
  • The IWM was up + or +2.40%;
  • The IBB was up +0.88 points or +1.51%,
  • The VIX was up +0.76 points or +4.76% at to 16.74

 

Q1/26 – 1 holiday, 2 neutral, 3 negative and 4 positive closes

Q4/25 …

  • December – 1 holiday, 8 positive and 14 negative closes
  • November – 1 holiday, 8 positive and 11 negative closes
  • October -1 neutral, 11 positive and 12 negative closes

 

Wednesday Closing UP (10 of 27) 

  • Lenz Therapeutics (LENZ +$1.99 after Tuesday’s +$1.03),
  • BioNTech (BNTX +$1.93 after Tuesday’s +$5.01 after Monday’s +$2.33),
  • Sarepta Therapeutics (SRPT +$1.34),
  • Moderna (MRNA +$0.98 after Tuesday’s +$5.76 after Monday’s -$0.46),
  • Beam Therapeutics (BEAM +$0.86 after Tuesday’s +$0.86 after Monday’s +$6.14),
  • uniQure NV (QURE +$0.85 after Tuesday’s -$1.54 after Monday’s -$2.28),
  • CRISPR Therapeutics (CRSP +$0.71 after Tuesday’s +$0.88 after Monday’s +$1.46),
  • Solid Biosciences (SLDB +$0.65),
  • Compass Therapeutics (CMPX +$0.46),
  • BioLife Solutions (BLFS +$0.39 after Tuesday’s -$0.14 after Monday’s -$0.82),

Flat (2)

  • Adverum Biotechnologies ADVM) – acquired
  • Capricor Therapeutics (CAPR)

Wednesday’s Closing DOWN (11 of 11): 

  • Vertex (VRTX -$5.14 after Tuesday’s -$5.92 after Monday’s -$3.27),
  • Alnylam Pharmaceuticals (ALNY -$3.10 after Tuesday’s -$0.95 after Monday’s -$27.38),
  • Ionis Pharmaceuticals (IONS -$0.61 after Tuesday’s -$2.18 after Monday’s +$1.36),
  • IQIA Holdings (IQV -$0.22 after Tuesday’s +$0.71 after Monday’s -$1.55 after Friday’s -$0.75),
  • MiMedx (MDXG -$0.19),
  • AxoGen (AXGN -$0.13 after Tuesday’s -$0.62 after Monday’s -$1.96),
  • Mesoblast (MESO -$0.12 after Tuesday’s -$0.91 after Monday’s -$2.29 after Friday’s +$1.09),
  • Regenxbio (RGNX -$0.66),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.08 after Tuesday’s -$0.38 after Monday’s +$0.01)
  • Ultragenyx Pharmaceuticals (RARE -$0.04 after Tuesday’s -$0.26 after Monday’s +$1.86),
  • Sangamo Therapeutics (SGMO -$0.0154)

 

The Bottom Line: More of the … WHY

Indexes retreated on Wednesday as investors dumped tech and big bank stocks, continuing a dim start to Q4 earnings season.

On the macro front, investors parsed wholesale inflation data that added to a mild reading on consumer inflation. Together, the flurry of this week's data has showed price pressures remain sticky, firming up bets for a near-term hold on interest rates but keeping hopes alive for two cuts this year. >Yahoo Finance>

This new subclade K … flu S c s!  It’s just NOT quite over – tomorrow is day 5 and should subside; never been this tired! And I got ALL the SHOTS

What a week from JPM healthcare conference, I keep say H&Q – my old alma mater; if I am not mistaken last year, 2025 was about the same in market flux and timing?

 

For all my … <some say> … RANTINGS, I say TRUTH …

Capricor Therapeutics (CAPR) closed Wednesday neutral ($0.00) < was at a low of -$0.45> post Tuesday’s +$0.28 (having opened -$0.26) after Monday closed up +$0.67 after being DOWN Friday -$1.71 or -6.69% to $23.84 after Thursday’s -$0.76 or -2.89% to $25.55 after Wednesday’s +$0.20 …

  • CAPR’s I-Banks seemed to be executing the “PUMP” to protect the offering share pricing – LOT of daily volume, institution driven … DON’T be distracted – Make a buck, CONTINUE the SELL of the overbought.
  • Right again after again and yet another again … downward!

RIGHT as always on this “pig” …

Harvard Apparatus RT (OTCQB: HRGN) was down Wednesday -$0.08 or -5.235 to $1.45 with 6,980 shares traded after Tuesday’s -$0.38 after Monday’s +$0.01 after Friday’s $0.00) after writing this a.m. 

  • As I wrote…
  • Financing on Deck: Harvard Apparatus RT (OTCQB: HRGN (Notice of Exempt Offering of Securities); who or what US institution would invest in this “entity” – broke, no patient data in 4 years, questionable management, serious unpaid bills in hundreds of thousands – partners and employees past and present.
  • An adjunct, who has the lipstick for this pig!

 

The recent profit-taking could also foreshadow some of the volatility ahead and …

  • RISK is always a factor remaining and … will boil-up under the surface until or as slight shocks rock the C&GT sector and markets!

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!

 

January – 3nd week:

  • 1/14 – Wednesday closed positive with 27 incliners, 11 decliners and 2 flats
  • 1/13 – Tuesday closed neutral with 19 incliners, 19 decliners and 2 flats
  • 1/12 – Monday closed neutral with 19 incliners, 19 decliners and 2 flats

January 2nd week

  • 1/9 - Friday closed negative with 10 incliners, 28 decliners and 2 flats
  • 1/8 – Thursday closed negative with 7 incliners, 30 decliners and 3 flats
  • 1/7 – Wednesday closed positive with 33 incliners, 4 decliners and 2 flats
  • 1/6 – Tuesday closed positive with 27 incliners, 11 decliners and 2 flats
  • 1 /5 - Monday closed negative with 18 incliners, 21 decliners and 1 flat

January’s 1st week:

  • 1 /2 - Friday closed positive with 18 incliners, 17 decliners and 5 flats
  • 1/1 -Thursday was a holiday, New Years Day

 

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!

 

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

The top three (3) performing in the session:    Winners

  • Wednesday: Lenz Therapeutics (LENZ), BioNTech (BNTX) and Sarepta Therapeutics (SRPT)
  • Tuesday: Moderna (MRNA), BioNTech (BNTX) and Lenz Therapeutics (LENZ)
  • Monday: Beam Therapeutics (BEAM), BioNTech BNTX) and Ultragenyx Pharmaceuticals (RARE
  • Friday: uniQure NV (QURE), Mesoblast (MESO) and BioNTech (BNTX)
  • Thursday: Mesoblast (MESO), AxoGen (AXGN) and Intellia Therapeutics (NTLA)
  • Last Wednesday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and IQVIA Holdings (IQV),

The worst three (3) in the session: Losers

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Ionis Therapeutics (IONS)
  • Tuesday: Vertex (VRTX), Ionis Therapeutics (IONS) and uniQure NV (QURE)
  • Monday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Sarepta Therapeutics (SRPT)
  • Friday: Vertex (VRTX), CRISPR Therapeutics CRSP) and Vericel (VCEL)
  • Thursday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Moderna (MRNA)
  • Last Wednesday: Arrowhead Pharmaceuticals (ARWR), BioLife Solutions (BLFS) and LENZ Therapeutics (LENZ)

 

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.