P.K.

full-time amateur, tech/biotech long-term trader🧠🔬🔭📈

[P.K. @intimepk]

$QURE company raised net $323.7 million at $47.50/share in September after data. The stock then rose north of $70/share. Maybe cash balance post raise until now has decreased by $150M.

Market cap at $70:
$70 × 62.7M ≈ $4.39 billion

Subtracting only the ~$150M of spend:
$4.39B − $0.15B ≈ $4.24 billion

The market cap at Friday close was $2.92B.

That’s 45% up from current levels. (pps was expected imo to continue climbing above $70 in November).

Company is better positioned now for approval than previously imo, has received BLA guidance and has preliminary agreement on design of confirmatory trial to include with BLA submission.

BLA submission Q3 following trial design.

Confirmatory trial likely to begin soon thereafter.

Could be $15B on acquisition.

[P.K. @intimepk]

$QURE A look at analyst price targets before 2025 data and after and today after BLA guidance. Notice how with the exception of Leerink thus far (which has a low PT btw) and RBC and Barclays which didn't have price targets before data I beleive, these nuts have LOWER price targets AFTER BLA guidance, which we did not have after data in September 2025. Nuts in my opinion. Stock should be trading north of $60-$80 already imo. I think it's here at 47.10 right now mainly on sentiment given the FDA FUBAR.

[P.K. @intimepk]

$QURE Claude “So I’d put it this way: the fact that confirmatory design talks are happening pre-submission isn’t itself a signal. But the content of those talks — accepting the data, softening the control-arm requirement, committing to move “expeditiously” — is a real signal that the agency wants a workable route to approval here, not just going through the motions. That’s a meaningfully different and more favorable posture than where this same review stood five months ago.”

[P.K. @intimepk]

@SenWarren Idiotic

[P.K. @intimepk]

@DeItaone @grok I’m guessing the demand is a lot higher than expected.

[P.K. @intimepk]

$XBI brutal day. Zero changed thesis though in portfolio.

[P.K. @intimepk]

@GadSaad @zipjet @grok did Clinton say this?

[P.K. @intimepk]

$TSHA Claude calling these pps’s “gift pricing”

[P.K. @intimepk]

$LUCD Matheis Dennis (Director) Buys 245,000 @ Avg Price: $1.00 (Form4). Insiders buy for one reason.

[P.K. @intimepk]

$IMMX What's your 12-month price target?

UNDERSTANDING THE MARKET AND POTENTIAL FOR IN AL AMYLOIDOSIS

THE INDICATION: A DESPERATE LACK OF OPTIONS .
AL Amyloidosis is a rare, life-threatening blood disorder where abnormal plasma cells produce faulty light chain proteins. These misfolded proteins aggregate into amyloid deposits, physically clogging and damaging vital organs—most notably the heart and kidneys. .
High Mortality: Historically, up to 30% of patients die within the first year of diagnosis due to rapid cardiac failure.

Zero Competition in R/R: While J&J's Darzalex Faspro dominates first-line therapy, there are currently ZERO FDA-approved drugs specifically indicated for relapsed or refractory (R/R) AL Amyloidosis. When patients relapse, they hit a clinical brick wall.

HOW NXC-201 LEADS THE SPACE
Curative Potential: NXC-201 is a BCMA-targeted CAR-T therapy that targets and wipes out the faulty plasma cells at the source, stopping the production of toxic light chains entirely. Today's 95% Complete Response rate proves it is doing exactly that.

Outpatient Potential: Unlike older CAR-T therapies that require heavy, expensive inpatient hospitalization due to severe toxicities, NXC-201 has shown a uniquely clean safety profile. Immix is positioning this to be administered in an outpatient setting, drastically expanding its market reach.

TAM AND PEAK SALES POTENTIAL
The Total Addressable Market: The global AL Amyloidosis market is growing rapidly and is projected to cross $4B this year, scaling toward $6.4B by 2030. Immix estimates the U.S. patient prevalence alone represents a targeted population of roughly 34,600 patients.

Established Pricing Floor: Thanks to existing commercial oncology benchmarks, the billing code pricing floor for BCMA CAR-T therapies sits at roughly $425,000 per dose.

Peak Sales Estimate: Because it has a massive first-mover advantage with Breakthrough Therapy designation, analysts model NXC-201's peak annual sales potential between $1.4 Billion and $2.8 Billion. . THE BOTTOM LINE: With a $425K pricing floor, zero approved competitors in the relapse space, and an outpatient-friendly safety profile, NXC-201 isn't just looking to participate in the AL Amyloidosis market—it is positioned to completely monopolize the advanced lines of therapy.

[P.K. @intimepk]

$IMMX DE-RISKING THE SEPTEMBER 2026 TOPLINE READOUT (EFFICACY)

The Baseline is Already Established: The interim Phase 2 data dropped this morning shows a 95% Complete Response (CR) rate (19/20 patients), with zero relapses to date and all 4 previous MRD-negative patients successfully converting to full CRs.

Minimal Statistical Friction: Because the expansion cohort only needed to scale up to complete the 45-patient trial, the efficacy signal from the initial 20 patients is so overwhelmingly strong that the statistical risk of the remaining data destroying the efficacy profile in September is extraordinarily low. We aren't guessing if the drug works; we are just waiting for the final cohort's data to mature.

DE-RISKING THE MARCH 2027 BLA FILING (REGULATORY AND CAPITAL)

The Dilution Buffers the Timeline: The immediate $150M public offering at $8.94 removes the single biggest structural overhang for the March 2027 regulatory milestone.

Execution Runway Secured: By extending their cash runway into mid-2028, Immix completely removes the capital crunch risk. They no longer have to worry about running out of cash while waiting out the FDA-mandated 1-year patient safety/durability follow-up window required to file the BLA. They can now fund the trial completion, prepare the formal filing, and build out manufacturing infrastructure from a position of financial strength.

[P.K. @intimepk]

$IMMX Clinical Update: NEXICART-2 Trial Data

- 95% Complete Response (CR) Rate: 19 out of the first 20 patients treated achieved a complete response. This improvement happened because all 4 patients who were previously flagged as "MRD-negative" (minimal residual disease negative) fully converted into complete responses.
- Zero Relapses: All complete responses were achieved within 1 year of dosing, and absolutely no patients who reached a CR have relapsed so far.
- Rapid Action: 17 of the 20 patients saw their diseased light chains normalize rapidly, boasting a median time to initial response of just 7 days.

Next data in September, final data in March '27, and BLA filing soon after.

[P.K. @intimepk]

$KYTX initiated BLA. Rolling basis. No mention of use of ATM yet that I see.

[P.K. @intimepk]

$KYTX should rerate on BLA filing (I still think May), and confirmation of funds (use of ATM)

[Michel Doepke @doepke_michel]

$KYTX up 12%. Patience, just the beginning imo. Great science - CAR-T for autoimmune disorders.

[P.K. @intimepk]

$XBI down today on Fed comments of keeping interest rates steady for a while. Plus $INSM drop given the market cap.

[P.K. @intimepk]

Name a time in history where surrender did not come by force. Think this time is any different, think again.

[*Walter Bloomberg @DeItaone]

IRAN WARNS OF TOUGH TIMES AHEAD

Parliament Speaker Mohammad Ghalibaf cautioned Iranians to brace for economic strain and potential attacks, accusing the U.S. of seeking to force surrender through pressure. He urged frugality and public resilience as tensions rise and negotiations remain uncertain.

[P.K. @intimepk]

@Rainmaker1973 @zipjet @grok is this true?

[P.K. @intimepk]

$CADL $XBI I was wrong. May 15. Up 16% today on anticipation of good data.

On market cap post-good AUA data:
The key question is what “good” means here. The market already knows the primary DFS endpoint was met. What moves the needle at AUA is:
•DFS curves continuing to separate (not converging)
•Secondary endpoints — time to salvage therapy, time to metastasis — showing meaningful benefit
•Any OS signal emerging, even preliminary
•PCSS (prostate cancer-specific survival) data strengthening beyond the HR 0.62 already disclosed
If all of those trend positive, the market should begin pricing this as a probable approval rather than a possible one. Pre-BLA submission, a credible approval story for a drug with $1B+ peak sales potential (per RTW’s implied model) in a company with $213M cash and no near-term dilution risk should command a market cap in the $800M-$1.2B range — roughly $11-16/share at 73M shares.

[P.K. @intimepk]

$CADL $XBI up 45% last two days. On anticipation of final prostate cancer data later in the year? Likely end of June I think.

[P.K. @intimepk]

@doepke_michel Nice. According to Claude, that was 5 months after her hire.

[P.K. @intimepk]

@ThomasSowell @zipjet @grok what is closer to the truth according to Sowell?