April 2, 2026 4:48pm

As losses are suddenly erased pre-close … and another I told you so!

As written 4/1, “I harbor lingering uncertainty about this market’s positioning related to ending the war, headline risks and role of econ release pain and their derived volatility.” As I wrote 4/1, “The market and C&GT sector may not be out of the woods yet; until there’s “some type of all-clear announcement,” trading still could “remain volatile” in the short term”

Warning 3/31, “Corrections are normal lately; there are still various scenarios of war continuation that could initiate more volatility in equities”

Warning 3/27, the cell and gene therapy sector (C&GT) is “Stuck in the middle … of uncertainty, war and commodity pricing.” As I wrote 3/25, ““uncle algo and his electronic trading dwarfs” are thirsting after the oversold and are up to their necks on this but will they belch over next few days?”

News: Vericel (VCEL) and MediWound Ltd. (MDWD) BARDA $197 M Award for procurement and advanced development of NexoBrid (below)

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!

Thursday marks the last trading day of the shortened week, as markets are closed for Good Friday.

 

News: MediWound Ltd. (MDWD), a global leader in next-generation enzymatic therapeutics focused on non-surgical tissue repair, with Vericel (VCEL), its exclusive distributor of NexoBrid® in North America,

VCEL  has been awarded a 10-year contract valued at up to $197 M by the U.S. Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services (HHS), for the procurement of NexoBrid®, establishment and maintenance of a Vendor Managed Inventory (VMI) system, design and validation of a U.S based manufacturing facility, and the development of a next generation formulation and additional indication for NexoBrid.

  • The base period contract of $35 million includes approximately $10 million over the next 12 months for the initial procurement of NexoBrid for the U.S. Strategic National Stockpile and VMI establishment, funding for VMI-related services and initial development activities for a potential expanded NexoBrid indication for the treatment of blast trauma injuries.

 

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!

RMi Pre-opening: None, why re-write what I have written for past weeks …

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

 

What happened and some of the whys with the numbers behind …

... it’s NOT always about BUYs/SELLs … it’s about knowing when and what!

 

Thursday: The Dow closed DOWN -61.07 points or -0.13%, the S&P closed UP +7.37 points or +0.11% while the Nasdaq closed UP +38.234 points or +0.18%

  • Theme of the session: volatile trading as oil prices surged following President Trump’s remarks that the Iran war would continue for weeks

Thursday’s (my) 40-company covered sector’s advance/decline line opened negative with 8 incliners, 29 decliners and 3 flats, ending with a neutral close of 19 incliner, 19 decliners and 2 flats

  • As I had written, “Sentiment wasn’t out of the woods., let’s see how many consecutive sessions going forward i.e., follow-through”?

Henry’omics: We need to more than consider the economic/political 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 U.S. trade deficit rose in February but was less than expected and down nearly 55% from the same period a year ago, the Commerce Department reported. The shortfall in goods and services total3d $57.3 B for the month, up 4.9% from January but below the consensus estimate for $62 B.
  • Initial jobless claims unexpectedly fell last week, continuing a low-layoff trend for the U.S. economy.  1st-time filings for unemployment benefits totaled a seasonally adjusted 202,000 for the week ended 3/28, down 9,000 from the prior period and below the 212,000-consensus estimate.  Continuing claims, which run a week behind, fell 25,000 to 1.841 M. The 4-week moving average for continuing claims edged lower to 1.838 M, its lowest since Sept. 28, 2024.
  • It’s still about the pricing of oil which surged 10% today. U.S. West Texas Intermediate crude futures for May were up 10% at $110.21 a barrel. June futures for international benchmark Brent crude rose 8% to $109.25 per barrel.

The CBOE Fear (VIX) index, Thursday closed at 24.04, after Wednesday’s 24.61, Tuesday’s 25.39, Monday’s 30.61, Friday’s 30.87 and last Thursday’s 28.31

Metrics: Thursday …

  • The RUT was up +17.67 points or +0.70%,
  • The XLV was down -0.92 points or -0.62%,
  • The NBI was down -21.81 points or -0.37%;
  • The XBI was up +0.41 points or +0.32%
  • The IWM was up +1.73 or +0.69%;
  • The IBB was down -0.70 points or -0.41%,
  • The VIX was down -0.50 points or -2.04% at to 24.04

 

Q2/26 – 1 neutral, 1 positive closes and 1 holiday (Friday) coming

  • Q1 -March – 9 positive and 13 negative closes
  • February – 1 holiday, 8 negative and 11 positive sessions
  • January – 2 holidays, 2 neutral, 9 negative and 9 positive closes

 

Thursday Closing UP (10 of 19) 

  • Capricor Therapeutics (CAPR +$1.99 after Wednesday’s -$0.28 after Tuesday’s +$2.63 after Monday’s -$1.13),
  • BioNTech (BNTX +$1.76 after Wednesday’s +$0.54 after Tuesday’s +$3.63 after Monday’s -$0.43 after last Friday’s -$1.78),
  • Vericel (VCEL +$1.58),
  • Sarepta Therapeutics (SRPT +$1.10),
  • Ultragenyx Pharmaceuticals (RARE +$1.03 after Wednesday’s +$0.47),
  • AxoGen (AXGN +$0.86 after Wednesday’s+$0.45),
  • IQVIA Holdings (IQV +$0.85 after Wednesday’s +$1.86 after Tuesday’s +$4.38 after Monday’s +$2.31 after last Friday’s -$5.52),
  • DYNE Therapeutics (DYN +$0.74 after Wednesday’s -$0.03),
  • Beam Therapeutics (BEAM +$0.70),
  • Lenz Therapeutics (LENZ +$0.32),

Flat (2)

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

Thursday’s Closing DOWN (10 of 19): -

  • Alnylam Pharmaceuticals (ALNY -$9.88 after Wednesday’s -$2.16 after Tuesday’s +$14.80 after Monday’s -$1.27 after last Friday’s -$10.80),
  • Vertex (VRTX -$8.55 after Wednesday’s +$0.72 after Tuesday’s +$3.38 after Monday’s +$10.09 after Friday’s -$20.67),
  • Arrowhead Pharmaceuticals (ARWR -$1.89),
  • Mesoblast (MESO -$0.99 after Wednesday’s +$0.42),
  • Supernus Therapeutics (SUPN -$0.96 after Wednesday’s -$0.25 after Tuesday’s +$2.34),
  • Moderna (MRNA -$0.83 after Wednesday’s -$0.77 after Tuesday’s +$2.57 after Monday’s -$1.33 after Friday’s -$4.01),
  • Ionis Pharmaceuticals (IONS -$0.34),
  • Entrada Therapeutics (TRDA -$0.33 after Wednesday’s +$0.86),
  • Intellia Therapeutics (NTLA -$0.14 after Wednesday’s +$0.45),
  • Regenxbio (RGNX -$0.10)

 

The Bottom Line: More of the … WHY and a lot of what ifs …

Thursday marks the final trading session of the holiday-shortened week ahead of the Good Friday closure.

  • Initial jobless claims data out Thursday morning showed initial claims fell by 9,000 to 202,000 for the week ending March 28, with the closely watched March jobs report due Friday.

The cell and gene therapy sector shook-off its losses while … I wai for the multi-colared jelly beans; even at my age!

Indexes turned red as strait of Hormuz’s control stayed in the news!

  • A volatile Thursday for the stock market continued after oil prices kicked it back into a spiral.
  • The Nasdaq, which also briefly turned positive, was down 0.4%.
  • The latest pullback occurred as WTI crude oil futures rose 11% to $111.55 after briefly pulling back from their highs.

U.S. to potentially impose 100% tariff on patented drugs, related ingredients

  • U.S. President Trump plans to impose a 100% tariff on patented drugs and related ingredients, (according to a draft document reviewed by CNBC).
  • The new trade tax, which could go out as soon as Thursday, would apply to drugmakers that have not signed deals with the Trump administration.
  • However, the draft document does not call for the tariffs to be applied to generic and orphan drugs, in addition to carving out several other exemptions for drugmakers.
  • More than a dozen drug companies, including Eli Lilly, Pfizer and Johnson & Johnson have already signed deals to exempt themselves from tariffs.  <Liz Napolitano, CNBC>

 

April – 1st week

  • 4/2 - Thursday closed neutral with 19 incliners, 19 decliners and 2 flats
  • 4/1 – Wednesday closed positive with 29 incliners, 8 decliners and 3 flats

March – 5th week

  • 3/31 – Tuesday closed positive with 36 incliners, 2 decliners and 2 flats
  • 3/30 - Monday closed negative with 12 incliners, 26 decliners and 2 flats

March – 4th week:

  • 3/27 – Friday closed negative with 1 incliner, 36 decliners and 3 flats
  • 3/26 – Thursday closed negative with 15 incliner, 22 decliners and 3 flats
  • 3/25 – Wednesday closed positive with 30 incliners, 5 decliners and 5 flats
  • 3/24 – Tuesday closed negative with 11 incliner, 27 decliners and 2 flats
  • 3/23 - Monday closed positive with 26 incliners, 12 decliners 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 – closed end funds” (BUY, SELL, VC and multiple operating roles) with less and 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: markets closed
  • Thursday: Capricor Therapeutics (CAPR), BioNTech (BNTX) and Vericel (VCEL
  • Wednesday: IQIA Holdings (IQV), Vertex (VRTX) and CRISPR Therapeutics (CRSP)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Arrowhead Pharmaceuticals (ARWR) and IQIA Holdings (IQV)
  • Monday: Vertex (VRTX), IQIA Holdings (IQV) and Vericel (VCEL)
  • Friday: Wave Life Sciences (WVE)

The worst three (3) in the session: Losers

  • Friday: markets closed
  • Thursday: Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Arrowhead Pharmaceuticals (ARWR)
  • Wednesday: Moderna (MRNA), Alnylam Pharmaceuticals (ALNY) and Wave Life Sciences (WVE)
  • Tuesday: Sangamo Therapeutics (SGMO) and Voyager Therapeutics (VYGR)
  • Monday: Alnylam Pharmaceuticals (ALNY), Moderna (MRNA) and CRISPR Therapeutics (CRSP)
  • Friday: Vertex (VRTX), Alnylam Pharmaceuticals (ALNY) and IQVA 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.