April 28, 2026 4:34pm

Reiterating, as markets balance a tough global risk appetite, Ai jitters and looming econs

Sector Earnings:

  • AxoGen (AXGN); Q1/26 net loss of -$19.6 M or -$0.38 per share, revenue of $61.5 M versus Q1/25 of $48.6 M with a gross margin of 75.2% and cash of $103.6 M with a runway until 2028
  • Wave Life Sciences (WVE) Q1/26 net loss of -$26.1 M or -$0.13 per share versus $46.9 M in Q1/25, G&A and R&D increased with revenue of $32.8 M versus Q1/25 of $9.2 M and cash of $544.6 M with a runway until Q3/28

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!

News: Rocket Pharmaceuticals (RCKT) strengthened its financial position following the sale of its Rare Pediatric Disease Priority Review Voucher (PRV) for $180 M. The PRV was awarded following the FDA accelerated approval of KRESLADI™ (marnetegragene autotemcel). Non-dilutive capital and extends cash runway into Q2/28.

 

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.  I am more frequently right than consequentially wrong; thus, mostly EARLY in my prognostications!

Tuesday’s RMi Pre-opening: None, knew it was going to be a bad day at “Boot Hill”

 

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!

 

Tuesday: The Dow closed DOWN -25.86 points or -0.05%, the S&P closed DOWN -35.08 points or -0.49% while the Nasdaq closed DOWN -223.301 points or -0.90%

  • Theme of the session: little changed as Iran peace talks stall and oil rises

Tuesday (my) 40-company covered sector’s advance/decline line opened positive with 24 incliner, 14 decliners and 2 flats, ending with a negative close of 17 incliners, 20 decliners and 3 flats

  • Sector earnings have begun, with cash positions <so far>to 2028

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 average price for a gallon of regular gas has hit $4.176, the highest since 8/2/22, according to AAA.
  • West Texas Intermediate futures jumped 3% to trade above $100 per barrel. Brent futures gained 2% to above $111 per barrel.
  • U.S. consumer confidence unexpectedly edged higher in April. The Conference ​Board said its index climbed 0.6 point to 92.8 this month. Economists had forecast the index easing to 89.0. The preliminary results of the survey were ⁠collected ⁠between April 1 and April 22. It ⁠was in stark contrast with the University of ​Michigan's Surveys of Consumers, which last week showed its Consumer Sentiment Index slumping to a record low in April.

 

The CBOE Fear (VIX) index, Tuesday closed at 17.80, after Monday’s 18.02, Friday’s 18.70, Thursday’s 19.29, Wednesday’s 18.74 and last Tuesday’s 20.59

Metrics: Tuesday …

  • The RUT was down -31.89 points or -1.14%,
  • The XLV was up +0.32 points or +0.23%,
  • The NBI was down -45.20 points or -0.77%;
  • The XBI was down -1.88 points or -1.41%
  • The IWM was down -3.29 or -1.19%;
  • The IBB was down -1.21 points or -0.72%,
  • The VIX was down -0.22 points or -1.22% at to 17.80
  • The SPX was down -32.96 or -0.46% to 7,140.95

 

Q2/26 – 1 holiday, 1 neutral, 9 negative and 8 positive closes

  • 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

 

Tuesday Closing UP (10 of 17) 

  • Vertex (VRTX +$4.13 after Monday’s -$4.49 after Friday’s -$4.81),
  • AxoGen (AXGN +$2.61 after Monday’s +$0.14 after Friday’s +$1.84),
  • Beam Therapeutics (BEAM +$11.39 after Monday’s +$2.06 after Friday’s -$3.05),
  • CRISPR Therapeutics (CRSP +$1.07 after Monday’s +$2.21 after Friday’s -$6.40),
  • Wave Life Sciences (WVE +$0.58 after Monday’s -$0.24),
  • Ultragenyx Pharmaceuticals (RARE +$0.54),
  • Intellia Therapeutics (NTLA +$0.117 after Monday’s -$0.60 after Friday’s -$2.24),
  • Brainstorm Cell Therapeutics (BCLI +$0.1521),
  • uniQure NV (QURE +$0.15),
  • Dyne Therapeutics (DYN +$0.12),

Flat (3)

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

Tuesday’s Closing DOWN (10 of 20): 

  • Alnylam Pharmaceuticals (ALNY -$6.40 after Monday’s +$2.97 after Friday’s -$8.25),
  • IQVA Holdings (IQV -$4.88 after Monday’s +$1.51 after Friday’s +$1.60),
  • Arrowhead Pharmaceuticals (ARWR -$3.45 after Monday’s -$0.31 after Friday’s -$0.49),
  • Moderna (MRNA -$1.56 after Monday’s -$2.03 after Friday’s -$2.12),
  • Vericel (VCEL -$1.27 after Monday’s +$1.28 after Friday’s +$1.24),
  • Capricor Therapeutics (CAPR -$1.12),
  • BioLife Solutions (BLFS -$0.51 after Monday’s +$0.03),
  • Lenz Therapeutics (LENZ -$0.47 after Monday’s +$0.38 after Friday’s +$0.23),
  • Ionis Pharmaceuticals (IONS -$0.45 after Monday’s -$1.04 after Friday’s -$0.82),
  • Agenus (AGEN -$0.19 after Monday’s +$0.19 after Friday’s +$0.14),

 

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

The S&P 500 and Nasdaq fell on Tuesday, weighed down by a report that pointed to weakness in OpenAI as well as the rise in oil prices.

  • OpenAI recently saw revenue and new users’ growth that were below its own targets, according to a Wall Street Journal report. The report added that CFO Sarah Friar told leadership she was concerned OpenAI may not be able to pay computing contracts in the future if its top line doesn’t expand fast enough. <CNBC>

 

April 5th Week:

  • 4/28 – Tuesday closed negative with 17 incliners, 20 decliners and 3 flats
  • 4/27 - Monday closed negative with 13 incliners, 24 decliners and 3 flats

April 4th Week:

  • 4/24 – Friday closed negative with 11 incliners, 27 decliners and 2 flats
  • 4/23 - Thursday closed negative with 7 incliners, 30 decliners and 3 flats
  • 4/22 – Wednesday closed positive with 30 incliners, 9 decliners and 1 flat
  • 4/21 – Tuesday closed negative with 5 incliners, 33 decliners and 2 flats
  • 4/20 - Monday closed negative with 16 incliners, 21 decliners and 3 flats

 

Q1/26 Earnings Release Dates:

  • Alnylam Pharmaceuticals (ALNY) -Thursday, 4/30
  • Moderna (MRNA) - Friday, 5/1
  • IQVIA Holdings (IQV), uniQure NV (QURE) and Supernus Therapeutics (SUPN) – Tuesday, 5/5
  • Vericel (VCEL) – Thursday, 5/7

 

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 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

  • Tuesday: Vertex (VRTX), AxoGen (AXGN) and Beam Therapeutics (BEAM)
  • Monday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Beam Therapeutics (BEAM)
  • Friday: AxoGen (AXGN), IQVA Holdings (IQV) and Capricor Therapeutics (CAPR)

The worst three (3) in the session: Losers’

  • Tuesday: Alnylam Pharmaceuticals (ALNY), IQVA Holdings (IQV) and Arrowhead Pharmaceuticals (ARWR)
  • Monday: Vertex (VRTX), BioNTech (BNTX) and Compass Therapeutics (CMPX)
  • Friday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Vertex (VRTX),

 

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.