January 15, 2026 5:07pm

The Bottom Line’s theme was/is cautious optimism as we are about to enter the Q4 and FY25 earnings cycle

Although volatility seems to be the directional trend

Pre-Open Indications: 3 Hits and 1 Miss

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!

 

RMi Pre-opening: Day #4, JP Morgan healthcare Conference, ends as share pricing got breeched this week ...  https://www.regmedinvestors.com/articles/14269       

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

 

Thursday: The Dow closed UP +292.81 points or +0.60%, the S&P closed UP +17.86 points or +0.26% while the Nasdaq closed UP +58.272 points or +0.25%

  • Theme of the session: rebound of chip and bank stocks

Tuesday’s (my) 40-company covered sector’s advance/decline line opened negative with 8 incliners, 29 decliners and 3 flats ending with a negative close of 8 incliners, 30 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

  • Jobless claims data for the week ending Jan. 10 came in at 198,000, lower than the 215,000 expected. The 4-week moving average fell to 205,000, the lowest since Jan. 20, 2024.
  • The Empire State Manufacturing Index for January came in at 7.7, up 11 points from December and better than the estimate for 1.0, according to the New York Fed.
  • The Philadelphia Fed manufacturing index was at 12.6, up from -8.8 the prior month and far better than the forecast for -4.5.

The CBOE Fear (VIX) index, Thursday at 15.95, after Wednesday’s 16.74, Tuesday’s 15.98, Monday’s 15.09, Friday’s 14.48 and last Thursday’s 15.47

Metrics: Thursday …

  • The RUT was up +25.84 points or +0.86%,
  • The XLV was down -0.90 points or -0.57%,
  • The NBI was down -81.97 points or -1.40%;
  • The XBI was down -2.46 points or -1.94%
  • The IWM was up +2.35 or +0.89%;
  • The IBB was down -2.27 points or -1.31%,
  • The VIX was down -0.80 points or -4.78% at to 15.95

 

Q1/26 – 1 holiday, 2 neutral, 4 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

 

Thursday Closing UP (8 of 8) 

  • Vericel (VCEL +$1.24),
  • AxoGen (AXGN +$0.42 after Wednesday’s -$0.13 after Tuesday’s -$0.62 after Monday’s -$1.96),
  • Arrowhead Pharmaceuticals (ARWR +$0.34),
  • Entrada Therapeutics (TRDA +$0.24),
  • BioLife Solutions (BLFS +$0.18 after Wednesday’s +$0.39 after Tuesday’s -$0.14 after Monday’s -$0.82),
  • Mesoblast (MESO +$0.09 after Wednesday’s -$0.12 after Tuesday’s -$0.91 after Monday’s -$2.29),
  • MiMedx (MDXG +$0.06 after Wednesday’s -$0.19),
  • Brainstorm Cell Therapeutics (BCLI +$0.02),

Flat (2)

  • Adverum Biotechnologies ADVM) – acquired
  • Harvard Apparatus RT (OTCQB: HRGN $0.00 with 1100 shares traded after Wednesday’s -$0.10 after Tuesday’s -$0.38 after Monday’s +$0.01)

Thursday’s Closing DOWN (10 of 30): See any indications for Friday??

  • Vertex (VRTX -$10.61 after Wednesday’s -$5.14 after Tuesday’s -$5.92 after Monday’s -$3.27),
  • Alnylam Pharmaceuticals (ALNY -$7,53 after Wednesday’s -$3.10 after Tuesday’s -$0.95 after Monday’s -$27.38),
  • Beam Therapeutics (BEAM -$3.36 after Wednesday’s +$0.86 after Tuesday’s +$0.86 after Monday’s +$6.14),
  • BioNTech (BNTX -$3.05 after Wednesday’s +$1.93 after Tuesday’s +$5.01 after Monday’s +$2.33),
  • CRISPR Therapeutics (CRSP -$2.68 after Wednesday’s +$0.71 after Tuesday’s +$0.88 after Monday’s +$1.46),
  • Ionis Pharmaceuticals (IONS -$1.66 after Wednesday’s -$0.61 after Tuesday’s -$2.18 after Monday’s +$1.36),
  • Supernus Therapeutics (SUPN -$1.54),
  • Sarepta Therapeutics (SRPT -$1.49 after Wednesday’s +$1.34),
  • Moderna (MRNA -$1.22 after Wednesday’s +$0.98 after Tuesday’s +$5.76 after Monday’s -$0.46),
  • Regenxbio (RGNX -$1.19 after Wednesday’s -$0.66),

 

The Bottom Line: More of the … WHY

Indexes rose on Thursday, in a recovery from back-to-back losses.

As the C&GT sector dived ...

  • The market’s mood stayed the course dragging indexes.
  • Concerns over AI spending continue to drive much of investor’s hearts and minds in the first few weeks of 2026.

 

Interesting: “Moody's analysts published a report on Thursday about what would occur in the event of an AI bubble bursting. Though the credit rating agency said it's unclear whether the market is in a bubble, analysts wrote that if a hypothetical burst occurs and AI-related companies lose 40% of their value, it would have "far-ranging credit consequences." <Yahoo>

 

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

Capricor Therapeutics (CAPR) closed Thursday down -$0.75 or -3.03% with 1.586 M shares traded <was as low of -$1.11> after 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) closed flat ($0.00 with 1100 shares traded) after 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:

  • 1/15 - Thursday closed negative with 8 incliners, 30 decliners and 2 flats
  • 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 marginally less 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

  • Thursday:
  • 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)
  • Last Thursday: Mesoblast (MESO), AxoGen (AXGN) and Intellia Therapeutics (NTLA)

The worst three (3) in the session: Losers

  • Thursday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Beam Therapeutics (BEAM)
  • 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)
  • Last Thursday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Moderna (MRNA)

 

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.