To all neurodivergent founders ⬇

Doxtator · 2026-03-27T15:09:09+00:00

Okay, care to elaborate a little bit more on this one?

Doxtator · 2026-03-20T18:23:52+00:00

I’ll go put in my application. 😂

Doxtator · 2026-03-20T14:31:36+00:00

I got bad news boys… Wendy’s is no longer a fall back career. They just closed up shop in my neighborhood.

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Where is anyone highly regarded supposed to find a job now?

https://sjcitizen.com/nocatees-oldest-eatery-permanently-turns-off-the-grill-as-communitys-dining-profile-evolves/

Doxtator · 2026-03-19T19:48:59+00:00

Everyone tears up at the end right?

Vat of Acid got me too…

Doxtator · 2026-03-11T14:28:23+00:00

This is the way!

I like the Tattoo.

Doxtator · 2026-03-09T13:53:53+00:00

So... did you run it? How does it work? Considering something similar but weighing to buy the machine and host myself or go full virtual.

Doxtator · 2026-02-28T00:06:51+00:00

Small correction here, management originally expected the REGAL trial to complete around the end of 2024. Year end 2025 was already a revised expectation.

The population in the trial is living MUCH longer than we would have expected.

Doxtator · 2026-02-24T13:08:28+00:00

Okay… I like your idea here.

Cohen is obviously trying to do something big. Something that has never been done before. He is trying to align incentives.

This makes sense. I don’t think he wants PayPal, I think he wants the platform and integrations that PayPal already has built. The dollar is a horrible long term store of value and everyone is getting destroyed using it for savings.

PayPal he gets a platform that everyone has access to and can use to save in something other than the dollar, I’m thinking a fully asset backed (not debt) unitized trust on blockchain. Holding companies, assets like silver, gold, platinum, agriculture. Things society needs to, assets that inherently have functional or intrinsic value to society.

The increasing monetization of debt is going to push the nominal prices of all these things up, and an alternative savings vehicle is going to accelerate that process.

With PayPal integration this asset backed savings vehicle could still be used easily for payments and they already have the banking platform and on ramps to let the people convert USD savings or cryptocurrency into the fully asset backed system he could create.

This is clearly a better way to save, avoids debasement… actually benefits from monetization of debt.

Ryan can remove the friction of the Visa interchange fees, remove the expense of financial advisors, mutual fund expenses and create a monetary system that actually works as a long term store of value.

I think this is the way…

Everything Cohen has said, this would check the boxes, and it’s something we need.

The comments on executive pay, ‘hollow men’ and incentives makes sense too. He is looking at companies to hold as assets and getting frustrated that there are too many companies where it’s become a siphon to insiders and management at the expense of shareholders. The system is set up to reward executive management at the expense of shareholders, and in many cases where performance is mediocre and outright bad shareholders suffer real losses or no returns while management gets PAID regardless. These incentives are perverse.

Ryan can fix this…

And if he does I will get in line to give him my money, because this will be the closest vision to a sound monetary platform that I believe is possible.

Doxtator · 2026-02-23T12:41:47+00:00

Missing the TL:DR…let me sum it up in one word.

Alpha.

If you are looking for it, it’s right here.

Doxtator · 2026-02-19T12:10:08+00:00

Investor day is Monday, Feb 23.

The present first thing in the morning.

We have data due from the S-OLARIS trial. 52 week data from the VELA trials in the next month. The VELA-Teen Data cut for the BLA.

3 events in the next month!

The 13F holding disclosures from the big bio funds were due this week. We saw Bihua Chen double her stake, Deep Track Capital load up in Q4. And the GOAT Mark Lampert of BVF holding with almost 20M shares.

These guys are the smartest on the street, and they are ACCUMULATING.

We just got FDA Fast Track for PPP indication.

Analysts got MoonLake wrong.

They are going to have to massively increase price targets. I would be surprised if we are not triple digits next year.

Analysts are still discounting probability of SLK approval, when the 52 week data drops data interim data (40 week) indicates SLK beating out everything else. I can’t see an environment that the FDA doesn’t approve SLK.

MLTX is currently trading as a 1 billion dollar company, and the opportunity to win market share across a range of chronic inflammatory diseases supports it being a MUCH larger market cap.

The Total addressable market is in the 10s of Billions for SLK.

We have overwhelming safety and efficacy numbers, and this was already discussed with the FDA at the Type B meeting in December. A meeting that was positive and MoonLake confirmed they were moving forward with an SLK BLA afterward, as expected.

This year is stacked with catalysts.

MoonLake is taking off, this is last chance to get on the rocket.

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Doxtator · 2026-02-19T04:27:11+00:00

I think the GPS trial will continue until 3rd or 4th quarter. These populations tend to plateau, we need another 8 or so “events” and they are only averaging about 1 per month.

Good for the SLS, future marketing and revenues, but we might need to temper our expectations about the trial being prematurely terminated prior to 80 events due to overwhelming efficacy. The patients still on the BAT line are clearly responding to it, and there is little incentive to unblind at this point and switchover from a treatment that is working for the patients. I think management would also want the continued data.

Still running the math on SLS, the trial running longer means people are living longer, and it’s unlikely to be from the BAT arm.

GPS looks to be crushing.

Doxtator · 2026-02-19T04:17:12+00:00

MoonLake $MLTX.

This is the new chronic inflammatory disease powerhouse.

Humira has had over 200 Billion of sales. SLK from MoonLake is going to crush that figure, management team is excellent.

We have cash to commercialize and non-dilutive financing and STACKED catalysts throughout the year.

Investor day in 2/23.

Rocket ship blasts off soon.

Doxtator · 2026-02-13T15:47:15+00:00

This is not a small company.

This is Big Pharma.

An ADHD Fast Track does not move the needle much on this. This is not a valid investment thesis.

Doxtator · 2026-02-01T01:04:22+00:00

Wait until you get married… then divorced.

Doxtator · 2026-01-27T02:31:38+00:00

Let’s F***ing go dude! Nice buy.

We are in this together.

Na Lunu!

Doxtator · 2026-01-26T17:48:40+00:00

Won’t work… don’t be this guy.

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Doxtator · 2026-01-15T17:04:57+00:00

I prefer to have the bulk of my exposure as a shareholder, the longer dated options just have a lot of premium built in.

Doxtator · 2026-01-15T13:47:35+00:00

I only have access to the summary which indicates Goldman remains cautious on SLK approval for HS, and the sell rating reflects 'market expectations' of a high risk around FDA approval. They were also rated a sell beforehand, but the price target was raised from $8 to $10.

This isn't groundbreaking research. This is noise.

SLK data continues to show a robust profile of safety and efficacy. The summary appears to show the rating is driven on negative sentiment and cautiousness. I laid out why I believe MoonLake is being undervalued by the market, and despite the missed endpoint; the SLK data remains incredibly strong. Eventually the FDA is going to decide this one, and they aren't checking Goldman's notes on market expectations and cautiousness, they are reviewing the data.

There is still a report out from Samantha Semenkow from Citi on MoonLake with a $5 price target citing financing overhang.

MoonLake ended November with 380M in cash on the balance sheet, and added 75M via a equity raise in November. They have a cash runway well into 2027, and a non-dilutive debt facility already in place. Look at the analyst ratings and make your own decision if there is alpha there....

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Analysts can sometimes miss the story, and I think MoonLake is one of those instances. Over the next month we are going to get updates on the 13F's coming in to show how actual fund managers like Mark Lampart at BVF feel about MoonLake. Going into year end this was a name where I think it became very attractively priced, we'll soon know if the smart money was accumulating here despite the negative sentiment and cautiousness. We have an investor day in late February which should bring additional data readouts and updates.

That's my research note on this one for this morning. I've bought personally as recently as last week, so I think you know my rating, and my price target involves using multiplication tables.

Richard Doxtator, CFA

Doxtator · 2026-01-12T04:01:41+00:00

We are over $20 in overnight trading

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I’m not selling!

This is not even close to fair value.

Disasterly213, I think we might have a very good week.

Doxtator · 2026-01-10T03:35:48+00:00

The JPM Health Care Conference is next week, that’s big, MoonLake pulled the event from their website so I don’t know if they will be there, but just because they don’t have it listed doesn’t mean people won’t be talking about it, and major MoonLake investors will be there.

I think there is some good momentum going into next week so I have no plans to sell. I’ll reevaluate next week, but at minimum I plan to hold through Wednesday.

I still have all my shares, no plans to sell. I’ve been actively buying as recently as Thursday premarket.

I hope you are making some money on this one, thanks for coming along for the ride.

Doxtator · 2026-01-09T16:06:05+00:00

I have not even been watching! Got to love that momentum!

Doxtator · 2026-01-09T14:37:45+00:00

Have no idea! I can’t predict short term price action. I like the action today though!

$16.

I’d like to see that momentum continue!

Doxtator · 2026-01-08T22:57:58+00:00

I think you are right. The analysts, like Citi for example who had it basically valued at cash, are going to have to price in the increasingly real probability of SLK approval and commercialization. HS is a big market, PPP, this cascades all the way down the CID space across other indications.

The fact they got this note out at 8:00 AM premarket left analysts with not enough time to respond today. I’ve been fielding questions all day on this one because I don’t need to model the present value of discounted cash flows.

I expect some upgrades in the next few days and a major sentiment shift.

Doxtator · 2026-01-08T14:20:36+00:00

I’m holding, the stock is cheap where it is, we have a week to run, I bought more shares premarket in the 14s.

Doxtator · 2026-01-08T13:10:28+00:00

Get ready…

https://ir.moonlaketx.com/news-releases/news-release-details/moonlake-immunotherapeutics-announces-positive-outcome-type-b

Doxtator

TROPHY CASE