RMi Pre-opening: Wobbling

February 11, 2026 8:06am

Updated ...

News: Moderna (MRNA -$4.15 or -9.87% to $37.85) the FDA Center for Biologics Evaluation and Research (CBER) has notified the Company that it will not initiate a review of the biologics license application (BLA) for its investigational influenza vaccine, mRNA-1010, and has issued a Refusal-to-File (RTF) letter. MRNA had exercised a Priority Review Voucher to facilitate a timely review of the application.  CBER's RTF letter, signed by Center Director Vinayak Prasad, MD, MPH, identified the choice of a licensed standard-dose seasonal influenza vaccine comparator as the sole reason for the refusal to initiate the review of Moderna's application.

Coming earnings: Thursday - Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Ultragenyx Pharmaceuticals (RARE) followed by Friday’s Moderna (MRNA)

Pre-open Signals: 2 Negative and 1 Positive Indication; if you understand probabilities, the inevitable is easier to maneuver

Remember that overnight action in futures don't necessarily translate into actual trading in today’s regular stock market session.

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

“I hate to be considered 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!”

RMi Closing Bell: Perception becomes reality … https://www.regmedinvestors.com/articles/14307

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

Wednesday: The pre-open Dow futures are UP +0.49% or (+246 points), the S&P futures are UP +0.57% or (+39 points) and the Nasdaq futures are UP +0.78% or (+193 points)

• U.S. stock futures are higher after a much better-than-expected January jobs report on Wednesday, 2/11
• European markets moved lower,
• Asia Pacific markets mostly rose

Economic Data: they just keep coming …

8:30 am                U.S. employment report               Jan.                        55,000   50,000

8:30 am                U.S. unemployment rate              Jan.                        4.4%      4.4%

8:30 am                U.S. hourly wages            Jan.                        0.3%      0.3%

8:30 am                Hourly wages year over year                                       3.7%      3.8%

10:10 am             Kansas City Fed President Jeff Schmid speaks                                                     

2:00 pm               Monthly U.S. federal budget                                       -$89.0B -$129.0B

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 UP +52.27 points or +0.10%, the S&P closed DOWN -23.02 points or -0.33% while the Nasdaq closed DOWN -136.196 points or -0.59%
• Monday: The Dow closed UP +20.20 points or +0.04%, the S&P closed UP +32.51 points or +0.47% while the Nasdaq closed UP +207.457 points or +0.90%
• Friday: The Dow closed UP +1206.95 points or +2.47%, the S&P closed UP +133.90 points or +1.97% while the Nasdaq closed UP +490.627 points or +2.18%

• Last week: The S&P 500 closed down -0.1%, the Nasdaq fell -1.84% and the Dow rose +2.5%
• The previous week: The S&P 500 closed up +0.04% and the Nasdaq -0.2%, while the Dow dropped -0.2%.
• January: The S&P 500, Dow were up more than 1% and the Nasdaq had a 0.7% gain.

Q1/26 – Q1 February – 3 positive and 4 negative closes

• January – 2 holiday, 2 neutral, 9 negative and 9 positive closes  

Q4 – December,

• 1 holiday, 8 positive and 12 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.

• Multiple earnings next week as sector releases Qs and FY25 …

Consider:

Vertex (VRTX) closed down -$7.39 after Monday’s -$7.05 with a negative -$0.53 or -0.11% pre-open

BioNTech (BNTX) closed down -$1.41 after Monday’s +$3.72 with a negative -$0.30 or -0.27% pre-open

uniQure NV (QURE) closed down -$1.34 after Monday’s +$0.40 with a positive +$0.54 or +2.19% pre-open

The BOTTOM LINE: Welcome to my world of defining the “grey’ in our universe!

The stock market rally paused Tuesday after 2 strong sessions, with the key indexes mixed despite solid breadth.

• The Dow rose 0.1% in Tuesday's stock market trading; the S&P 500 index fell 0.3% and the Nasdaq declined 0.6% while the small-cap Russell 2000 dipped 0.3%

Key theme: Since October, the Nasdaq has tended to rally for a few days, followed by some declines. The S&P 500 has a had slight upward tilt, with the Dow and Russell 2000 doing better. But the volatility, especially in high-beta names, has been tough to handle. <IBD>

Expectation ... choppy trading, undrinkable econ “mash”, more earnings and still waiting for more econs as I prepare for more snow!

Since, the Q4 and FY25 earnings reporting cycle ….

• Thursday - 2/12 - Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Ultragenyx Pharmaceuticals (RARE)
• Friday - 2/13 – Moderna (MRNA)
• Tuesday - 2/24 – AxoGen (AXGN)
• Wednesday – 2/25 – Ionis Pharmaceuticals (IONS)

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.

February – 2nd week

• 2/10 - Tuesday closed negative with 19 incliners, 20 decliners and 1 flat
• 2/9 - Monday closed positive with 23 incliners, 14 decliners and 3 flats

February continues …

• 2/6 – Friday closed positive with 35 incliners, 5 decliners and 0 flat
• 2/5 -Thursday closed negative with 2 incliners, 36 decliners and 2 flats
• 2/4 -Wednesday closed negative with 10 incliners, 29 decliners and 1 flat
• 2/3 - Tuesday closed negative with 18 incliners, 21 decliners and 1 flat    
• 2/2 - Monday closed positive with 29 incliners, 10 decliners and 1 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.