November 5, 2024 4:38pm

Losses, revenue lags, clinical progress with some program uncertainty, a death all followed by estimate misses

Today’s earnings (below)

Never leave an investor uninformed!  

On point, short on words, long on facts and being judicious!

It’s hard to be right so often, it’s about defining insight. Who speaks out while standing in-front, beside and behind investors – RMi

 

RegMed Investors’ (RMi) pre-open: do your duty … https://www.regmedinvestors.com/articles/13684

RegMed Investors (RMi) Research Note: Q3/24 earnings reporting dates, net losses, cash positions, revenue and runway outcomes … https://www.regmedinvestors.com/articles/13441

RegMed Investors (RMi) - Q3/24 Cell and Gene Therapy Earnings Scorecard Results… https://www.regmedinvestors.com/articles/11628

 

Tuesday: The Dow closed UP +427.28 points or +1.02%, the S&P closed UP +70.07 points or +1.23% while the Nasdaq closed UP +259.19 points or +1.43%

  • Indexes jumped on Tuesday as investors as traders awaited the results from a high-stakes U.S. presidential election

Henry’omics: We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

  • Bracing for the election results and latest rate decision from the Fed on Thursday.              

Tuesday’s advance/decline line at the open was positive with 20 incliners, 14 decliners and 1 flat; ending with a positive close at the close of 25 incliner, 8 decliners and 2 flats

  • Cell and gene therapy sector jumped after negative on Monday

Metrics:  Tuesday, the IBB was up +1.55% and the XBI was UP +1.42% while the VIX was down -1.46 points or -6.64% at 20.52

 

As compared to: Monday: The Dow closed DOWN -257.59 points or -0.61%, the S&P closed DOWN -16.11 points or -0.28% while the Nasdaq closed DOWN -59.93 points or 0.33-%

  • Indexes dumped on Monday as investors prepped for the presidential election and a potential Fed rate cut later this week …

Henry’omics: We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

  • Bracing for the latest rate decision from the Fed on Thursday.      

Monday’s advance/decline line at the open was positive with 24 incliners, 9 decliners and 2 flats; ending with a negative close at the close of 15 incliner, 18 decliners and 2 flats

  • Cell and gene therapy sector jumped after negative on Friday, 11/1 having dived (last Thursday, Wednesday and Tuesday) after a positive close on Monday

Metrics:  Monday, the IBB was up +0.05% and the XBI was down -0.05% while the VIX was up +0.10 points or +0.46% at 21.98

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”: 

Q4/24 November – 1 negative and 2 positive closes       

  • October: 8 positive and 15 negative sessions

Q3/24

  • September – 10 positive and 11 negative closes
  • August: 1 neutral, 10 positive and 11 negative closes
  • July: 1 market holiday. 1 day off, 6 negative, 1 neutral and 12 positive closes

 

Earnings:

  • Adverum Biotechnologies (ADVM) reported Q3/24 earnings, a net loss of -$27 M or -$1.30 per share, revenue was $1 M with a 2026 runway and a cash position of $153.2 M.
  • uniQure NV (QURE) reported Q3/24 earnings, a net loss of -$44.4 M or -$0.91 per share, revenue was $2.3 M with a 2026 runway and a cash position of $435 M with -$50 M debt outstanding.
  • Verve Therapeutics (VERV) reported Q3/24 earnings, a net loss of -$50.1 M or -$0.59 per share, revenue was $6.9 M with a 2026 runway and a cash position of $539.9 M.
  • BEAM Therapeutics (BEAM) reported Q3/24 earnings, a net loss of -$96.7 M or -$1.17 per share, licensing and collab revenue was $14.2 M with a 2027 runway and a cash position of $925.8 M.
  • Editas Medicine (EDIT) reported Q3/24 earnings, a net loss of -$62.1 M or -$0.75 per share, revenue was $1 K with a 2Q/2026 runway and a cash position of $265.1 M.

 

Tuesday’s Closing Down (8 of 8):

  • Alnylam Pharmaceuticals (ALNY -$4.66 after Monday’s -$3.96),
  • Beam Therapeutics (BEAM -$0.43 after Monday’s +$1.43),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.40 after Monday’s +$0.;15),
  • Moderna (MRNA -$0.25 after Monday’s -$0.97),
  • CRISPR Therapeutics (CRSP -$0.23),
  • Brainstorm Cell Therapeutics (BCLI -$0.12 after Monday’s -$0.09),
  • Fate Therapeutics (FATE -$0.08 after Monday’s +$0.33),
  • bluebird bio (BLUE -$0.0106),

Flat (2):

  • Homology Medicine (FIXX)
  • Voyager Therapeutics (VYGR $0.00 after Monday’s -$0.35),

Tuesday’s Closing Up (10 of 25):

  • Blueprint Medicine (BPMC +$5.67 after Monday’s+$1.18),
  • Ultragenyx Pharmaceuticals (RARE +$1.12),
  • AxoGen (AXGN +$0.76 after Monday’s +$0.25).
  • uniQure NV (QURE +$0.50 after Monday’s -$0.30),
  • Mesoblast (MESO +$0.43 after Monday’s -$0.07),
  • Sangamo Therapeutics (SGMO +$0.42 after Monday’s -$0.14),
  • Vericel (VCEL +$0.38 after Monday’s +$0.38),
  • Ionis Pharmaceuticals (IONS +$0.36 after Monday’s -$0.32),
  • BioLife Solutions (BLFS +$0.36 after Monday’s +$1.49),
  • Verve Therapeutics (VERV +$0.33)

 

The BOTTOM LINE:  new month, 3rd session …more earnings’ sessions to “kick” November!

 

Quote, “The 2024 US presidential election carries significant market (^DJI, ^IXIC, ^GSPC) implications, with different potential outcomes depending on whether Vice President Kamala Harris or former President Donald Trump wins the White House.” <Yahoo Finance>

 

I CONTINUE to write about earnings’ season of concern, "I’m just not sure what's going to reignite share pricing SUSTAINABILTY as earnings season is about to … HIT with LPS (loss-per-share) expectation and consensus. "

  • Although, the wide dispersion of potential outcomes in elections, interest rates, and geopolitical situations globally has created volatility.
  • Looking ahead, brace for more market volatility!

Cell and gene therapy sector equities closed POSITIVE again on Tuesday after Monday's negative close after Friday's closing positive on November’s 1st session,

 

Sector LPS (loss-per-share) earnings are hitting the stride of releases – and then it is time – to thin the ranks of some I.e., SELL before any collapse of share pricing.

  • FOCUS and be aware on those with development partners, runways and ATM usage

Also, be aware that portfolio managers will be addressing rotations as year comes to an end trying to be careful to spread them out over the last few months in Q4.

I keep writing about uncertainty and skepticism … and coming realities.

  • Even with the potential for some market hiccups along the way, the good news is Q4 has historically skewed positively, even as sector earnings kicked the bucket down the road!

 

Ranking the end of October:      

  • 11/5 – Tuesday closed positive with 25 incliner, 8 decliners and 2 flats
  • 11/4 – Monday closed negative with 15 incliner, 18 decliners and 2 flats
  • 11/1 - Friday advance/decline line closed positive with 26 incliner, 7 decliners and 2 flats

 

The top three (3) performing in the session:    

  • Tuesday: Blueprint Medicine (BPMC), Ultragenyx Pharmaceuticals (RARE) and AxoGen (AXGN)
  • Monday: BioLife Solutions (BLFS), Beam Therapeutics (BEAM) and Blueprint Medicine (BPMC)

The worst three (3) in the session: 

  • Tuesday: Alnylam Pharmaceuticals (ALNY), Beam Therapeutics (BEAM) and Harvard Apparatus RT (OTCQB: HRGN)
  • Monday: Alnylam Pharmaceuticals (ALNY), Moderna (MRNA) and Voyager Therapeutics (VYGR)

 

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”

 

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.