Welcome

Pre-Open

RMi Pre-opening Bell: Reassurance

November 19, 2025

The A/D <advance/decline> Line has narrowed between sessions <see The Bottom Line>

Traders are totally enamored about Nvidia’s (NVDA) Q3 earnings, due after Wednesday’s close to set the stage for Wednesday’s sector’s session, ridiculous!

Pre-open Signals: 7 Positive and a few penny moves and non-indications

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

Out and About

RMi Research Note: Harvard Apparatus GT (OTCQB): Broke

November 22, 2025

Q3 net loss of -$1,700 or -$0.10 per share, cash position of $1.319 K and runway until 10/25

Revenue of $123 K (cost of dietary supplements sales: 112 K), accounts payable/outstanding debts to partners ($130 K to Yale University, $133 K to former employees), no clinical results, during Q3 recorded interest expense of approximately $7 K on convertible debt and approximately $4 K on insurance installment payments, recorded a 1-time offering cost loss totaling $500 K related to an anticipated offering that was not completed.Outstanding shares: 17,033,109. Ongoing Concern label still attached.

Who is wasting lipstick on this pig?

Challenging and questionable "aspects" state the obvious – a Ponzi Scheme!

Accumulated deficit to date= $103.2 M in 12 years

U.S. investors BEWARE, forewarned is forearmed?

Closing Bell

RMi Closing Bell: Boom

November 21, 2025

A wild week that was, exploding upward today; coming-off fierce sell-offs fueled by downside volatile equities while uncertainty was supplemented by fear of Ai and which way the Fed, now maybe not?

The fear index the CBOE Volatility index, “choked”; with the VIX closing Friday at 23.51 after Thursday’s 26.42, Wednesday’s 23.81, Tuesday’s 24.67, Monday’s 22.73 and last Friday’s 19.83

RMi collects, interprets and disseminates cell and gene therapy sector (C&GT) fact-based news, trusted and verified intel and share pricing data to bridge the gap to an investment decision

Never leave an investor uninformed!

TGIF

Research Notes

RMi Research Note: Harvard Apparatus GT (OTCQB): Broke

November 22, 2025

Q3 net loss of -$1,700 or -$0.10 per share, cash position of $1.319 K and runway until 10/25 Revenue of $123 K (cost of dietary supplements sales: 112 K), accounts payable/outstanding debts to partners ($130 K to Yale University, $133 K to former employees), no clinical results, during Q3 recorded interest expense of approximately $7 K on convertible debt and approximately $4 K on insurance installment payments, recorded a 1-time offering cost loss totaling $500 K related to an anticipated offering that was not completed.Outstanding shares: 17,033,109. Ongoing Concern label still attached. Who is wasting lipstick on this pig? Challenging and questionable "aspects" state the obvious – a Ponzi Scheme! Accumulated deficit to date= $103.2 M in 12 years U.S. investors BEWARE, forewarned is forearmed?

RMi Research Note: Fanning the faith, NVS to acquire RNA

October 26, 2025

A sector catalyst Novartis NVS) has agreed to buy Avidity Biosciences (RNA) closed up Friday +$0.60 or +1.24% to $49.15 for about $12 billion. NVS will pay Avidity shareholders $72 a share in cash, a premium of 46% to the company’s Friday closing price. Avidity Biosciences is a biopharmaceutical company. RNA is engaged in delivering a new class of ribonucleic acid (RNA) therapeutics called antibody oligonucleotide conjugates (AOCs). These AOCs are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to address targets and diseases previously unreachable with existing RNA therapies.

RMi Note: Adverum Biotechnologies (ADVM) to be acquired for +$12.47 a share by Eli Lilly (LLY)

October 24, 2025

ADVM is up +$0.14 or +3.349% to $4.32 ADVM's lead program, Ixo-vec, is a P3 intravitreal gene therapy designed to treat vision loss associated with wet age-related macular degeneration with a single intravitreal dose Ixo-vec is designed as a single 1-time treatment to deliver continuous and stable intraocular aflibercept levels, thereby reducing the significant patient burden associated with current chronic anti-VEGF therapies, while also potentially leading to improved vision outcomes.

Research Notes

November 22, 2025 RMi Research Note: Harvard Apparatus GT (OTCQB): Broke Q3 net loss of -$1,700 or -$0.10 per share, cash position of $1.319 K and runway until 10/25 Revenue of $123 K (cost of dietary supplements sales: 112 K), accounts payable/outstanding debts to partners ($130 K to Yale University, $133 K to former employees), no clinical results, during Q3 recorded interest expense of approximately $7 K on convertible debt and approximately $4 K on insurance installment payments, recorded a 1-time offering cost loss totaling $500 K related to an anticipated offering that was not completed.Outstanding shares: 17,033,109. Ongoing Concern label still attached. Who is wasting lipstick on this pig? Challenging and questionable "aspects" state the obvious – a Ponzi Scheme! Accumulated deficit to date= $103.2 M in 12 years U.S. investors BEWARE, forewarned is forearmed? October 26, 2025 RMi Research Note: Fanning the faith, NVS to acquire RNA A sector catalyst Novartis NVS) has agreed to buy Avidity Biosciences (RNA) closed up Friday +$0.60 or +1.24% to $49.15 for about $12 billion. NVS will pay Avidity shareholders $72 a share in cash, a premium of 46% to the company’s Friday closing price. Avidity Biosciences is a biopharmaceutical company. RNA is engaged in delivering a new class of ribonucleic acid (RNA) therapeutics called antibody oligonucleotide conjugates (AOCs). These AOCs are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to address targets and diseases previously unreachable with existing RNA therapies. October 24, 2025 RMi Note: Adverum Biotechnologies (ADVM) to be acquired for +$12.47 a share by Eli Lilly (LLY) ADVM is up +$0.14 or +3.349% to $4.32 ADVM's lead program, Ixo-vec, is a P3 intravitreal gene therapy designed to treat vision loss associated with wet age-related macular degeneration with a single intravitreal dose Ixo-vec is designed as a single 1-time treatment to deliver continuous and stable intraocular aflibercept levels, thereby reducing the significant patient burden associated with current chronic anti-VEGF therapies, while also potentially leading to improved vision outcomes. October 12, 2025 RMi Research Note: Japan’s Takeda (TAK) exits cell and gene therapy (CGT) research with $395 M write-off In 2020, they looked and now in 2025, vaccines will become a core business. Reuters reported “The move marks a significant shift for the Japanese drugmaker, which had spent years trying to build a presence in cell therapy, particularly in cancer treatment.” TAK will focus on small molecule drugs, biologics and antibody-drug conjugates – areas it believes can deliver innovative medicines to patients more quickly and at greater scale. Takeda's current 5 core businesses are oncology, gastroenterology, neuroscience, rare diseases, and plasma-derived therapies September 29, 2025 RMi Research Note: uniQure NV (QURE) Closes 6.736 M share offering priced at $47.50 For gross proceeds of $345 M QURE closed up +$5.09 or +9.37% to $59.40 with an aftermarket pricing of -$1.25 or -2.10% to $58.15 QURE had soared by 291% week-on-week to climb to a new all-time high based on astronomical performance of its delivered gene therapy treatment AMT-130 for Huntington’s disease.

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