March 8, 2026 3:18pm

Equities were disappointing econ by the latest jobs data

News:  Vinay Prasad, the head of the US FDA’s division of vaccines and gene therapies is leaving the agency after a tumultuous tenure. Dr. Prasad will depart the Center for Biologics Evaluation and Research next month to return to his prior career in academia. Prasad sparked controversy for overruling his own scientific review staff at times and taking a confrontational approach that critics said would stymie scientific innovation and slow approvals for rare disease drugs.

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!

It’s a Sunday update following Friday’s sick call

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about – facts in evidence!  I’m NOT at all writing a doom-and-gloom predictions as I am more frequently right than consequentially wrong; I am mostly EARLY in my prognostications!

US equities ended the week starkly in the red as the war in Iran and the ensuing surge in global oil prices have rankled the global economy. No corner of the market has been left untouched, and most of the market's 2026 gains have evaporated. 

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

 

Friday: The Dow closed DOWN -453.19 points or -0.95%, the S&P closed DOWN -90.69 points or -1.33% while the Nasdaq closed DOWN -361.307 points or -1.59%

  • Theme of the session: more of the same, the economic toll of the Iran conflict

Friday’s (my) 40-company covered sector’s advance/decline line opened negative with 7 incliners, 30 decliners and 3 flats, ending with a negative close of 14 incliners, 24 decliners and 2 flats

Henry’omics: We need to more than consider the macro-economic environment to comprehend the cause and effect of the macro versus micro data affecting “our” universe of cell and gene therapy (C&GT) sector

  • The Bureau of Labor Statistics reported that nonfarm payrolls fell by 92,000 in February, a sharp contrast from the downwardly revised January gain of 126,000 and far below the growth of 50,000 that economists expected for the month. The unemployment rate also rose to 4.4% from 4.3%.

The CBOE Fear (VIX) index, Friday closed at 20.49, after Thursday’s 23.64, Wednesday’s 21.15, after Tuesday’s 23.72, Monday’s 21.42 and last Friday’s 19.90

Metrics: Friday …

  • The RUT was down -60.27 points or -2.33%,
  • The XLV was down -1.21 points or -0.79%,
  • The NBI was down -38.43 points or -0.66%;
  • The XBI was up +0.10 points or +0.08%
  • The IWM was down -5.87 or -2.29%;
  • The IBB was down -1.11 points or -%,
  • The VIX was up +5.74 points or +24.17% at to 20.94

 

Q1/26 – March – 1 positive and 4 negative closes

  • February – 1 holiday, 8 negative and 11 positive sessions
  • January – 2 holidays, 2 neutral, 9 negative and 9 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

 

Friday Closing UP (14 of 14)

  • Capricor Therapeutics (CAPR +$2.08 after Thursday’s +$0.32 after Wednesday’s -$0.34),
  • uniQure NV (QURE +$3.62 after Thursday’s +$1.61),
  • Solid Biosciences (SLDB +$1.14),
  • Beam Therapeutics (BEAM +$1.02 after Thursday’s -$1.92),
  • Entrada therapeutics (TRDA +$0.96),
  • Sarepta Therapeutics (SRPT +$0.48 after Thursday’s +$0.14),
  • Intellia Therapeutics (NTLA +$0.29),
  • Mesoblast (MESO +$0.17 after Thursday’s +$1.10),
  • Alnylam Pharmaceuticals (ALNY +$0.15 after Thursday’s $6.79 after Wednesday’s +$8.65 after Tuesday’s -$6.42 after Monday’s -$7.85),
  • Caribou Biosciences (CRBU +$0.11),
  • Prime Medicine (PRME +$0.08),
  • Agenus (AGEN +$0.04),
  • Brainstorm Cell Therapeutics (BCLI +$0.01 after Thursday’s +$0.01 after Wednesday’s -$0.01 after Tuesday’s $0.00),
  • Sangamo Therapeutics (SGMO +$0.0006),

Flat (2)

  • Generation Bio (GBIO) – acquired
  • Harvard Apparatus RT (OTCQB: HRGN)

Friday’s Closing DOWN (10 of 24):

  • Vertex (VRTX -$4.13 after Thursday’s -$17.07 after Wednesday’s +$3.62 after Tuesday’s -$11.76 after Monday’s -$10.80),             
  • IQAI Holdings (IQV -$4.01 after Thursday’s +$0.73 after Wednesday’s +$3.92),
  • Arrowhead Pharmaceuticals (ARWR -$3.78 after Thursday’s -$1.50 after Wednesday’s +$1.00),
  • Moderna (MRNA -$1.31 after Thursday’s -$3.97 after Wednesday’s +$7.97),
  • Ionis Pharmaceuticals (IONS -$1.12 after Thursday’s -$4.29 after Wednesday’s +$0.79 after Tuesday’s -$3.30 after Monday’s +$0.81),
  • CRISPR Therapeutics (CRSP -$0.83 after Thursday’s -$2.67 after Wednesday’s +$1.94 after Tuesday’s -$2.71 after Monday’s +$0.63),
  • AxoGen (AXGN -$0.61),
  • BioNTech (BNTX -$0.45 after Thursday’s -$1.86 after Wednesday’s +$3.04 after Tuesday’s -$6.72 after Monday’s -$2.75),
  • Supernus Therapeutics (SUPN -$0.40 after Thursday’s -$1.31 after Wednesday’s +$1.02),
  • Lenz Therapeutics (LENZ -$0.39)

 

The Bottom Line: More of the … WHY

"The jobs report was weaker than expected …

Markets ended a tumultuous week on an even worse note after U.S. employers unexpectedly cut nearly 100,000 non-farm payroll jobs in February, according to the BLS (Bureau of Labor Statistics), a having expected the economy to add 55,000 jobs.

  • A drop in hiring in the health care sector, recently a source of strong employment gains, dragged down job growth in February. That sector shed 28,000 jobs, which the Labor Department attributed to recent strike activity. A nurses' strike in California ended late last month.

The Dow was down more than 3% for the week, the S&P 500 pared back steeper losses earlier in the day, and was down 1.6% for the week.

More earnings this week and coming… Earnings release dates: soon to be catching up

  • Tuesday - 2/24 – AxoGen (AXGN), Beam Therapeutics (BEAM) and Supernus Therapeutics (SUPN)
  • Wednesday – 2/25 – MiMedx (MDXG), Ionis Pharmaceuticals (IONS) and Sarepta Therapeutics (SRPT)
  • Thursday – 2/26 – Rocket Pharmaceuticals (RCKT), Intellia Therapeutics (NTLA), Wave Life Sciences (WVE), Vericel (VCEL) and BioLife Solutions (BLFS)
  • Monday - 3/2 – Dyne Therapeutics (DYN)
  • Thursday – 3/5 – Regenxbio (RGNX), Compass therapeutics (CMPX)
  • Monday – 3/16 – Agenus (AGEN)

 

RISK is always a factor remaining below the surface …  boiled-up as slight shocks of profiteering on upsides shook but not rocked 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,

 

March – 1st week

  • 3/6 - Friday closed negative with 14 incliners, 24 decliners and 2 flats
  • 3/5 – Thursday closed negative with 7 incliners, 32 decliners and 1 flat
  • 3 /4 – Wednesday closed positive with 32 incliners, 6 decliners and 2 flats
  • 3/3 - Tuesday closed negative with 2 incliners, 36 decliners and 2 flats
  • 3/2 - Monday closed negative with 15 incliners, 23 decliners and 3 flats

February – 4th week

  • 2/27 – Friday closed negative with 12 incliners, 26 decliners and 2 flats
  • 2/26 – Thursday closed positive with 24 incliners, 14 decliners and 2 flats
  • 2/25 - Wednesday closed positive with 20 incliners, 19 decliners and 1 flat
  • 2/24 - Tuesday closed positive with 32 incliners, 5 decliners and 3 flats
  • 2/23 - Monday closed positive with 24 incliners, 13 decliners and 3 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!

 

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

  • Friday: UniQure NV (QURE), Capricor Therapeutics (CAPR) and Solid Biosciences (SLDB)
  • Thursday: UniQure NV (QURE), Mesoblast (MESO) and IQIA Holdings (IQV)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Moderna (MRNA) and IQIA Holdings (IQV)
  • Tuesday: IQIA Holdings (IQV) and Entrada Therapeutics (TRDA)
  • Monday: Intellia Therapeutics (NTLA), Arrowhead Pharmaceuticals (ARWR) and Ionis Pharmaceuticals (IONS)

The worst three (3) in the session: Losers

  • Friday: Vertex (VRTX), IQIA Holdings (IQV) and Arrowhead Pharmaceuticals (ARWR)
  • Thursday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and Ionis Pharmaceuticals (IONS)
  • Wednesday: AxoGen (AXGN), Capricor Therapeutics (CAPR) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: Vertex (VRTX), BioNTech (BNTX) and Alnylam Pharmaceuticals (ALNY)
  • Monday: Vertex (VRTX), uniQure NV (QURE) and IQIA Holdings (IQV)

 

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.