April 22, 2025 4:29pm

Yet, macro uncertainty still breeds volatility; nor a “sustainable” bottom

News: New FDA Commissioner Marty Makary’s vow to back innovation might ease fears stoked by HHS chief Kennedy. Newly appointed FDA Commissioner Marty Makary—a former Johns Hopkins surgeon—delivered a relatively bullish message for the biotech sector. Speaking with Megyn Kelly, Makary said he would speed up approvals for rare-disease treatments, cut reliance on animal testing by incorporating computational models and shorten the industry’s typical 10-year drug- development timeline. (WSJ>

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.

 

Tuesday’s, RegMed Investors’ (RMi) pre-open: Who’s on first, what’s on second?... https://www.regmedinvestors.com/articles/13888

Monday night’s RegMed Investors (RMi) Closing Bell: sell-off starts the week …https://www.regmedinvestors.com/articles/13887

 

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB: HRGN), formerly Biostage (OTCQB: HRGN) “The latest, WHAT happens to OTCQB: HRGN if the White House and the new head of the SEC starts to "DELIST" Chinese companies??? … https://www.regmedinvestors.com/articles/13812

 

News (cont.): For investors, though, the bigger picture is that fears of Kennedy dismantling the U.S. drug ecosystem might be overblown. His vaccine skepticism and embrace of fringe theories have called the scientific credibility of HHS under his leadership into question and hurt vaccine-focused companies. But at this stage, his subordinates don’t appear to be out to undermine innovation.

 

Tuesday: The Dow closed UP +1,016.57 points or +2.66%, the S&P closed UP +129.56 points or +2.51% while the Nasdaq close UP +429.52 points or +2.71%

  • Indexes rallied Tuesday on hopes that U.S.-China trade tensions could ease soon, as investors recovered the steep declines suffered in the previous session.

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

  • Treasury Secretary Bessent sees likely tariff de-escalation with China <Bloomberg>

Tuesday’s advance/decline line opened with a positive 26 incliner, 7 decliners and 2 flats ending with a positive close of 30 incliners, 3 decliners and 2 flats    

Metrics:  Tuesday, the IBB was +3.19%, the XBI was +2.13% while the VIX was down -3.49 points or -10.30% at 30.33

 

Q2/24 -April – 8 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

 

Tuesday’s Closing UP (10 of 30) 

  • Alnylam Pharmaceuticals (ALNY +$4.00 after Monday’s -$1.81 after Thursday’s +$4.06),
  • Lenz Therapeutics (LENZ +$1.68 after Monday’s +$0.29 after Thursday’s +$0.76
  • CRISPR Therapeutics (CRSP +$1.41),
  • Regenxbio (RGNX +$1.15 after Monday’s +$0.73 after Thursday’s -$0.22
  • uniQure NV (QURE +$1.10 after Monday’s +$0.29 after Thursday’s +$3.61),
  • Beam Therapeutics (BEAM +$0.89 after Monday’s +$1.24 after Thursday’s +$0.38
  • BioLife Solutions (BLFS +$0.74 after Monday’s -$0.76 after Thursday’s -$0.35),
  • Moderna (MRNA +$0.61 after Monday’s +$0.41 after Thursday’s -$0.47
  • Agenus (AGEN +$0.56 after Monday’s +$0.23 after Thursday’s +$0.43),
  • Ionis Pharmaceuticals (IONS +$0.52)

Flat (2)

  • Harvard Apparatus RT (OTCQB: HRGN)
  • Homology Medicine (FIXX)

Tuesday’s Closing DOWN (3 of 3): 

  • Vericel (VCEL -$1.45 after Monday’s -$0.36 after Thursday’s +$0.41),
  • Blueprint Medicine (BPMC -$0.77 after Monday’s -$0.51 after Thursday’s +$2.60
  • Generation Bio (GBIO -$0.0075),

 

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

STILL, 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” …

  • 4/22 – Tuesday closed positive with 30 positive, 3 negative and 2 flats
  • 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 DESPERITE 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:   

  • Tuesday: Alnylam Pharmaceuticals (ALNY), Lenz Therapeutics (LENZ) and CRISPR Therapeutics (CRSP
  • Monday: Beam Therapeutics (BEAM), Regenxbio (RGNX) and Intellia Therapeutics (NTLA)
  • Friday, markets closed

The worst three (3) in the session: 

  • Tuesday: Vericel (VCEL), Blueprint Medicine (BPMC) and Generation Bio (GBIO)
  • Monday: Alnylam Pharmaceuticals (ALNY), BioLife Solutions (BLFS) and Blueprint Medicine (BPMC)
  • Friday, markets closed

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.