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RegMed Daily Dialogue, 8/10/11, so UGLY, the indexes are swooning and slumping

The 6 W’s: Who, what, where, when, why and what of it… 

 

Stock futures tumbled sharply Wednesday 8/10/11as investors paused after the previous session’s rally triggered by the Federal Reserve’s intention to keep rates low at least for 2 more years and EU banks slid.

Stocks fell hard again Wednesday, threatening the prior day’s sharp gains, with the Dow falling more than 400 points on worries the French credit rating might be downgraded. The Dow fell 412.13 points to 10,827.64. The S&P’s 500 Index dropped 42.44 points to 1,130.03. The NASDAQ declined 83.99 points to 2,398.53.

The NASDAQ is still … DOWN -49.97 <from 80.75> (-2.01%) to 2, 432.55. The Dow is also … DOWN -290.28 <from 405.32> (-2.32%) to 10,979.53. Remembering, my old and recent fear component; the DOW is still UNDER 12,000.

Regenerative medicine/stem cell universe shares on 8/10/11 are “floating in the kind of day, you blink and the market forgets … the fear trade is on while the risk trade is off … being long is OUT, trade what you see not what you think … for NOW”!  How much of this volatility is computer (high frequency trading) driven?

Who is UP … NO ONE … if they were up – they are down in a blink …

What’s new in the regenerative medicine/stem cell market … EARNINGS

 Supporting the stock, with a Form 4 filing, TIMOTHY M MAYLEBEN, ASTM’s CEO, buys another 10,000 shares on 8/8/11  

Biotime (AMEX: BTX) Q2/11 Results: A net loss of $4.3M or $0.09. Net loss attributable to BTX for Q2/11 was $4.3M or $0.09 per share, compared to a net loss of $2.3M or $0.06 per share for Q2/10. Guidance: BTX expects to put considerable effort into marketing products to the research and scientific community as they lay the groundwork for becoming a leading provider of products designed to transition from research to clinic use.  Cash and cash equivalents totaled $27.4M as of 6/30/11.

Cytori (NASDAQ:CYTX) Q2/11 Results: A net loss of $5.138M or $0.10 per share. Guidance: Q2/11operating expenses supported the launch of the EU pivotal acute heart attack trial (ADVANCE), commercial activities related to regenerative medicine applications such as reimbursement, and preparations for a US clinical trial. Ongoing global and regional organizational improvements are expected to result in lower operating expenses and cash utilization in the 2nd half of 2011. CYTX ended Q2/11with $33.2M in cash and cash equivalents, plus $2.5M in accounts receivable. Subsequent to the end of Q2/11, Cytori raised $6M in gross proceeds as part of a financing agreement.

Tengion (TNGN) Q2/11 Results: A net loss of $6.6M or $ 0.28 per share. For Q2/11, TNGN reported an adjusted net loss of $6.6M, or $0.28 per basic and diluted common share, compared with an adjusted net loss of $6.5M, or $0.58 per basic and diluted common share for Q1/10 The adjusted net loss per basic and diluted common share was significantly affected by the issuance of common stock in connection with equity financings completed in 4/10 and 3/11. As of 6/30/11, TNGN held $25.2M in cash, cash equivalents, and short-term investments.