April 21, 2025 5:10pm

The S&P 500 is down more than 9% since 4/2, when Trump announced a raft of levies on imports from other countries; the Nasdaq has lost nearly 10% in that time, and the Dow has fallen 9.6%.

The cell and gene therapy sector rambles along the tracks and passes through the tunnels of uncertainty

Q1/25 earnings beginning to be posted: MDXG, 4/30 and ALNY, 5/1

Never leave an investor uninformed!  

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

My mission is to provide clear, actionable guidance on a regular basis to help investors and traders navigate the uncertain and often irrational financial markets. I put hours of effort to create reporting, while leveraging my 40 years of operating and research experiences to analyze the key market-moving events and distill that into a cogent outlook.

 

Monday’s, RegMed Investors’ (RMi) pre-open: something to say or nothing to add? … https://www.regmedinvestors.com/articles/13886

Tuesday night’s RegMed Investors (RMi) Closing Bell: got some … https://www.regmedinvestors.com/articles/13885

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB: HRGN), formerly Biostage (OTCQB: HRGN) The chokehold got tighter cutting-off any capacity to lift multiple going concern at-risk marker … https://www.regmedinvestors.com/articles/13812

 

Monday: The Dow closed DOWN -971.82 points or -2.48%, the S&P closed DOWN -124.50 points or -2.36% while the Nasdaq close DOWN -415.55 points or -2.55%

  • Indexes fell again on Monday as President Trump ramped up his attacks on Fed Chair Powell, raising questions about the central bank’s independence, while traders received few signs of progress on global trade talks

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

  • Investors are dealing with macro anxiety

Monday’s advance/decline line opened with a positive 20 incliner, 13 decliners and 2 flats ending with a positive close of 21 incliners, 13 decliners and 1 flat        

Metrics:  Monday, the IBB was down -1.05%, the XBI was down -0.42% while the VIX was up +4.17 points or +14.06% at 33.82

 

Q2/24 -April – 7 positive and 7 negative closes

  • Q1/25 – March, 10 positive and 12 negative closes
  • February – 12 holiday, 11 negative and 7 positive closes
  • January - 2 holidays, 1 market close, 10 negative and 10 positive closes

 

Monday’s Closing UP (10 of 21) +$ after Thursday’s

  • Beam Therapeutics (BEAM +$1.24 after Thursday’s +$0.38
  • Regenxbio (RGNX +$0.73 after Thursday’s -$0.22
  • Intellia Therapeutics (NTLA +$0.69 after Thursday’s +$0.37
  • Solid Biosciences (SLDB +$0.48),
  • Moderna (MRNA +$0.41 after Thursday’s -$0.47
  • Lenz Therapeutics (LENZ +$0.29 after Thursday’s +$0.76
  • uniQure NV (QURE +$0.29 after Thursday’s +$3.61),
  • Agenus (AGEN +$0.23 after Thursday’s +$0.43),
  • Verve Therapeutics (VERV +$0.19),
  • Prime Medicine (PRME +$0.15),

Flat (1)

  • Homology Medicine (FIXX)

Monday’s Closing DOWN (13 of 13): 

  • Blueprint Medicine (BPMC -$0.51 after Thursday’s +$2.60
  • BioLife Solutions (BLFS -$0.76 after Thursday’s -$0.35),
  • Alnylam Pharmaceuticals (ALNY -$1.81 after Thursday’s +$4.06),
  • Mesoblast (MESO -$0.44 after Thursday’s +$0.41
  • AxoGen (AXGN -$0.39 after Thursday’s -$0.01),
  • Vericel (VCEL -$0.36 after Thursday’s +$0.41),
  • Ultragenyx Pharmaceuticals (RARE -$0.29 after Thursday’s +$0.71),
  • bluebird bio (BLUE -$0.24 after Thursday’s -$0.01)
  • Adverum Biotechnologies (ADVM -$0.20 after Thursday’s -$0.05),
  • MiMedx (MDXG -$0.13),
  • Cellectis SA (CLLS -$0.06),
  • Precigen (PGEN -$0.02),
  • Brainstorm Cell Therapeutics (BCLI -$0.016),

 

Friday, markets were closed for Good Friday

 

As compared to … Thursday: The Dow closed DOWN -527.28 points or -1.33%, the S&P closed UP +6.93 points or +0.13% while the Nasdaq close DOWN -20.71 points or -0.13%

  • Choppy trading on Thursday
  • The Dow and Nasdaq have each pulled back nearly 2% week to date, while the S&P 500 has shed 1%

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

  • The Philadelphia Fed diffusion index for general activity dropped to -26.4 in April, down from 12.5 in March. Economists were expecting a reading of 3.5. “Nearly 39% of the firms reported decreases in general activity this month, while 13% reported increases; 41% reported no change. The index for new orders also fell sharply, from 8.7 in March to -34.2 this month, its lowest reading since April 2020,”

Thursday’s advance/decline line opened with a positive 23 incliner, 10 decliners and 2 flats ending with a positive close of 25 incliners, 7 decliners and 3 flats         

Metrics:  Thursday, the IBB was up +0.50%, the XBI was up +0.80% while the VIX was down -3.02 points or -9.20% at 29.62

 

The BOTTOM LINE:  Reiterating, “Tariff tools” clog the way forward … toward continuous market appreciation beyond alternate sessions.

  • Although econs came in on target estimates
  • While volatility as investors searched for further clarity on tariff policy

Also, the clash between President Trump and Fed Chair Powell are adding pressure across asset classes.

 

I was once told by a “very” prominent figure early in my career, “write it right, keep it tight without hype and never lose the stride to guide the reader - me” – they were pretty simple instructions to follow!

 

Reiterating … My message, “The Trump administration … realizes drugs need to be made in America, not in foreign companies to be imported.

  • Also, most drug research is American based and if Kennedy slows or impedes their development or more – he will be bounced faster than a bond sell-off!!
  • Mark my words …!!

My perspective is to continue to nibble on sector equities, NO all ins – just add those with solid partners, lengthened runways and solid cash positions leveraged by solid management teams – there I see losses going forward!

“I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!”

  • If I have learned one thing as a former research analyst in a venture and public fund, operating executive, x-FBI, x-military officer and an adjunct (MBA) business school professor now a journalist; my life and your portfolio are largely tied to knowledge of price movements and questioning pricing targets and more.

I don’t have much to write/say other than “electronic trading and uncle algo” slips in and out, back doors reaping sector disharmony and then pops right back for some profiteering.

  • What can I say, love ‘em, leave ‘em and welcome back to save the sector’s honor – “uncle algo and his electronic dwarfs.” <me>

 

April ‘25: understand the “flow” …

  • 4/21 - Monday closed positive with 21 positive, 13 negative and 1 flat
  • 4/18 – Friday, markets closed for Good Friday
  • 4/17 – Thursday closed positive with 25 positive, 7 negative and 3 flats
  • 4/16 – Wednesday closed negative with 2 positive, 31 negative and 2 flats
  • 4/15 – Tuesday closed barely positive with 17 positive, 16 negative and 2 flats
  • 4/14 - Monday closed positive with 23 positive, 7 negative and 5 flats
  • 4/11 – Friday closed positive with 28 positive, 5 negative and 2 flats
  • 4/10 – Thursday closed negative with 4 positive, 30 negative and 1 flat
  • 4/9 – Wednesday closed positive with 33 positive, 1 negative and 1 flat
  • 4/8 - Tuesday closed negative with 4 positive, 30 negative and 1 flat
  • 4/7 - Monday closed negative with 13 positive, 20 negative and 2 flats
  • 4/4 – Friday closed negative with 3 positive, 30 negative and 2 flats
  • 4/3 – Thursday closed negative with 2 positive, 32 negative and 1 flat
  • 4/2 - Wednesday closed positive with 9 positive, 25 negative and 1 flat
  • 4/1 - Tuesday closed negative with 5 positive, 28 negative and 2 flats

 

What could 2025 have in store for the capital access space?

  • "You'll see a number of cell and gene therapy companies DESPARITE drive for financings – they’re desperate for cash, but I do think a lot of cell and gene therapy sector companies NEED to be focused on what is driving their own growth —they're focused on a lot of change BUT … that's happening in pipelines … capital expansion is second.

Why do I keep repeating, so investors can make the connection …

The top three (3) performing in the session:   

  • Monday: Beam Therapeutics (BEAM), Regenxbio (RGNX) and Intellia Therapeutics (NTLA)
  • Friday, markets closed
  • Thursday: Alnylam Pharmaceuticals (ALNY), uniQure NV (QURE), and Blueprint Medicine (BPMC)

The worst three (3) in the session: 

  • Monday: Alnylam Pharmaceuticals (ALNY), BioLife solutions (BLFS) and Blueprint Medicine (BPMC)
  • Friday, markets closed
  • Thursday: Moderna (MRNA), BioLife solutions (BLFS) and Regenxbio (RGNX)

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.