July 13, 2016 6:27am
… A green light for the company from the FDA, an indicator which could “tune” the sector
The worst of the worst and JUNO survived to come-back in days …
… Under the revised protocol, the ROCKET trial will continue enrollment using JCAR015 with cyclophosphamide pre-conditioning only.
I offer a tool set of pertinent facts and targeted analysis defining the who, when, where, which and what of it!
Where is today’s market going – subscribe and find out!
Where do investors turn for insight and perspective - I say intelligently what others won't, so you can do what others can't!
Companies in the headlights: AGTC, BLFS, JUNO, KITE, MDXG and XON
Indexes and ETFs: The IBB (+0.01), XBI (+0.54%), IWM (+0.23%) are UP and the XLV (-0.06%) is DOWN
Dow futures are UP +0.43% and NASDAQ futures are UP +0.13%
U.S. stock-index futures traded narrowly higher on Wednesday after the Dow Jones Industrial Average and the S&P 500 indexes closed at record highs on Tuesday.
European stocks traded mildly higher after a rally in markets in the U.S. and Asia as markets try to continue their post-Brexit recovery amid hopes of further monetary policy easing.
Asia markets advanced, extending a global rally that pushed major U.S. indexes to records amid expectations of further easing from Japan and the resolution of some concerns over the U.K. political muddle.
The stem, cell and gene and regenerative therapy (SCG&RT) sector closed POSITIVE on Tuesday, NEGATIVE on Monday, POSITIVE on Friday, Thursday and last Wednesday.
The SCG&RT sector’s record after the last 5 days (of 43 covered companies):
- Tuesday closed POSITIVE with 16 decliners, 24 advancers and 3 flats;
- Monday closed NEGATIVE with 25 decliners, 16 advancers and 2 flats;
- Friday closed POSITIVE with 13 decliners, 29 advancers and 1 flat;
- Thursday closed POSITIVE with 15 decliners, 24 advancers and 4 flats;
- Last, Wednesday closed POSITIVE with 19 decliners, 22 advancers and 2 flats;
Remembering Monday’s post, “As far as advance/decline lines are concerned, it is pretty clear as “our” universe tests, retests and regenerates as traders “play” the trading range zone … which usually happens.”
- We should be ready for a good day as JUNO gets the green light to resume their “Rocket” trial.
It’s truly rare for the turn-around time by the company and the FDA to release the HOLD on the trial – truly remarakable!
- A “buy” signal requires “our” universe to undergo a series of back fillings however, interrupted rallies over the past couple of weeks satisfies a continued march but mot always appreciation.
But, I’d take a day at a time as a “true” positive was achieved by JUNO’s rebound!
You’ve made it to the office, turned on the monitor, having just gotten your coffee and it hits you - what could be today’s trades?
Watch list:
- The iShares Nasdaq Biotechnology (IBB) closed Tuesday up +0.74% and is UP +0.01% in Wednesday’s pre-market;
- The SPDR S&P Biotech ETF (XBI) closed Tuesday up +0.98% and is UP +0.54% in Wednesday’s pre-market;
- The Health Care Select Sector SPDR ETF (XLV) closed up Tuesday +0.38% and DOWN -0.06% in Wednesday’s pre-market;
- The iShares Russell 2000 (IWM) closed Tuesday up +1.33% and is UP +0.23% in Wednesday’s pre-market.
Companies in my spotlight:
Applied Genetic Technologies (AGTC) closed UP +$0.02 to $15.99 after Monday’s $15.97 (+ $0.16) following Friday’s $15.81(+$0.24) post being UP on Thursday to $15.57 (+$0.16) after last Wednesday’s close of $15.41 (+$0.69). AGTC is a very polarized equity; many love it to ultimately trade it – Maintaining SELL;
BioLife Solutions (BLFS) closed DOWN -$0.30 to $2.07 after being UP +$0.80 after announcing a 10 year contract with KITE. The aftermarket indication is UP +$0.08. I also believe that BLFS has more problems i.e. “a going concern issue”. At the end of 3/31/16, BLFS had $1.66 M in cash and is spending $8.832 M per quarter <$1.379 M for R&D and $7.543 M in SG&A expenses> offset by a gross profit from revenue of $3.814 M. However, the market speaks for itself - SELL to BUY;
Intrexon (XON) closed DOWN -$0.34 to $25.89. Zika is spreading <39 new cases in Massachusetts> and what remedial offset stems the spread? XON is one deterrent - BUY;
Juno Therapeutics (JUNO) closed UP +$0.46 to $27.79 following Monday’s $27.33 (-$0.48) following Friday’s to $27.81(-$13.01) after being UP on Thursday +$0.88. U.S. health regulators have removed a clinical hold on its cancer drug trial that was put in place last week following the death of three patients, sending its shares up. The aftermarket indication is positive and up +$7.44 or + 26.77%. A gold star for me –Maintaining BUY;
Kite Pharma (KITE) closed DOWN -$0.72 to $46.96 after Monday’s $47.68 (-$0.85) after Friday’s $48.53 (-$3.57). It is time for KITE to get beyond the pain of JUNO’s trial’s halt and it has. The aftermarket indication is positive +$4.05 or +8.62%. I felt it was coming –Maintaining BUY;
MiMedx (MDXG) closed UP +$0.03 to $8.20 after being down on Monday to $8.17 (-$0.08). MDXG reported Q2 revenue of $57.3 M versus $56.20 M which exceeded the upper end of the guidance range. Prior 2016 guidance: Adjusted EPS estimated to be in the range of $0.30-0.32 versus $0.30 consensus. The aftermarket indication is +$0.60. Maintaining BUY
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
