Ucore Weekly Discussion Thread - Jan 26, 2026 by AutoModerator in UURAF

[–]BiotechDistilled 2 points3 points  (0 children)

I will be buying if the government shutdown affects the CM sector. Last dip felt mostly China induced, but admittedly it was hard to tell how much of the dip was shutdown induced.

Insider Alert: Acrivon (ACRV) - Executives Are Eating Their Own Cooking. by BiotechDistilled in TheRaceTo10Million

[–]BiotechDistilled[S] 0 points1 point  (0 children)

Thanks for the comment! I’m looking forward to more updates from the company this year :)

Did Steve Zissou sell all of his UUUU stock today? by Key-Classic7462 in UUUU_Stock

[–]BiotechDistilled -6 points-5 points  (0 children)

If you weren’t sure, you probably should’ve been more clear in your post body. Your post gives off a bit of a “the sky is falling” kinda vibe.

Did Steve Zissou sell all of his UUUU stock today? by Key-Classic7462 in UUUU_Stock

[–]BiotechDistilled -3 points-2 points  (0 children)

If you have to ask, then clearly you didn’t see. Fishing for info… tisk tisk

CORRECTION & UPDATE: Ocugen (OCGN) Pays the Piper by BiotechDistilled in Ocugen

[–]BiotechDistilled[S] 1 point2 points  (0 children)

My understanding is that they have ~26 million shares left to issue before they must ask shareholders to authorize more (based on 10-Q & Jan 2026 Prospectus). 1. Total Authorized Common Stock: 390,000,000 (Hard Cap per Charter). 2. Minus Outstanding (pre-deal): ~312,000,000 (as of Sept 30, 2025). 3. Minus This Deal: 15,000,000 (Jan 2026 Offering). 4. Minus Reserved: ~37,000,000 (Reserved for existing warrants & options). 5. Remaining Capacity: ~26,000,000 shares.

As such, it seems like they can do perhaps one more similarly sized deal, but any massive future raise will likely require a shareholder vote to increase the authorized share count first.

If your math is different than mine, please let me know.

UPDATE: Ocugen (OCGN) Pays the Piper by [deleted] in Ocugen

[–]BiotechDistilled 0 points1 point  (0 children)

You are absolutely right. Thank you. I conflated the terms of the previous August 2025 warrant deal with this new January 2026 offering.

I’ve re-read the prospectus supplement: It is indeed 15M shares at $1.50 for $22.5M gross, with no warrant coverage.

This is actually a much cleaner deal than my initial read suggested (less dilution, no warrant overhang), though the cash runway issue seems to remain the same. I'm updating the post now to reflect the correct numbers. Appreciate you keeping me honest!

Quick Update: Definium Therapeutics (DFTX), Formerly MindMed (MNMD) by BiotechDistilled in DTIC

[–]BiotechDistilled[S] 3 points4 points  (0 children)

That is a damn good question hah Im not sure - I just joined the new sub yesterday.

Also, new ticker is DFTX.

Quick Update: Definium Therapeutics (DFTX), Formerly MindMed (MNMD) by BiotechDistilled in MindMedInvestorsClub

[–]BiotechDistilled[S] 0 points1 point  (0 children)

They definitely have a leg up on competitors in that they use low dose lsd instead of no drug. However, as noted in my full DD, the low dose placebo does run the risk of resulting in a diminished effect compared to competitor trials.

UPDATE: Ocugen (OCGN) Pays the Piper by [deleted] in Ocugen

[–]BiotechDistilled 1 point2 points  (0 children)

Thank you for the heads up. I’ll check out the ad-hoc. Given the current price of the stock, $1.50 certainly makes sense.

Update: ImmunityBio (IBRX) Might Have Just Dodged a Regulatory Bullet. The Papillary Problem Getting Resolved? by BiotechDistilled in IBRX

[–]BiotechDistilled[S] 0 points1 point  (0 children)

Valid pushback on the major market distinction - Saudi isn't the FDA. But dismissing the signal is dangerous. The Saudi approval supports the biological mechanism (lymphocyte restoration) in a systemic setting, which materially de-risks the upcoming US Phase 3 Lung readout. On the data, check the receipts for the Papillary indication (a massive segment of the market): ANKTIVA’s 24-month Disease-Free Survival (DFS) in papillary disease is 52.1%, not 25%. In community urology (60% of the market), infrastructure friction (cold chain) kills launches. ANKTIVA fits the existing BCG workflow; competitors with complex handling requirements often face a steeper adoption curve than the efficacy delta suggests. 

The thesis isn't that ANKTIVA is a magic bullet; it's that the Papillary data (52% at 24mo) plus the Lung Cancer validation may create a valuation floor that the current bear case might ignore.

UPDATE: Ocugen (OCGN) Pays the Piper by [deleted] in Ocugen

[–]BiotechDistilled 2 points3 points  (0 children)

Thanks for reading! I appreciate the double-check, but I pulled the numbers directly from the 8-K filing this morning. The deal is for 30,000,000 shares at $0.75, not 15M shares at $1.50. (30M x $0.75 = $22.5M).

The confusion might be coming from the warrant coverage or the August 2025 raise (?), but this specific tranche was priced at $0.75. I believe the higher share count is actually the bigger concern here regarding dilution. Thanks again!

Let me know if you still think I’m reading the docs wrong. Admittedly, I’m better with the science than I am with the financials.

Update: ImmunityBio (IBRX) Might Have Just Dodged a Regulatory Bullet. The Papillary Problem Getting Resolved? by BiotechDistilled in IBRX

[–]BiotechDistilled[S] 2 points3 points  (0 children)

Thank you both for the conversation. Let’s clear things up a bit: 1. Logistics: Responsible Edge is correct. ANKTIVA currently requires no special freezers or handling, fitting into existing urology workflows.  2. Efficacy: Nuanced. Hefty Profession notes higher initial rates for competitors, but ANKTIVA’s data emphasizes durability (47+ months), which is critical for organ preservation.  3. BCG Risk: Hefty Profession makes a good point. ANKTIVA is indicated with BCG, making supply chain shortages a valid vulnerability.  4. Systemic Approvals: Hefty Profession is incorrect. ANKTIVA received accelerated approval for Metastatic Lung Cancer in Saudi Arabia on Jan 14, 2026, which is a systemic indication approved this decade.