Generate Biomedicines Stock Slides 20% as 103 Million Shares Clear Lock-Up
Generate Biomedicines Inc. shares fell 20.3% to $16.25 at 15:06 EDT. The decline erased about $530 million of quoted equity value.
VolitionRx Shares Surge 97.5% Before Market Open as Sepsis Test Validation Sparks Tenfold Volume
VolitionRx Limited stock surged almost 100% ahead of Thursday’s U.S. market open, following news of clinical validation for its Nu.Q NETs blood biomarker in sepsis. Shares reached $0.67 at 07:30 EDT, marking a gain of 97.49%, with premarket volume at 143.86 million shares.
VolitionRx Limited · NYSE American: VNRX
Sepsis validation reprices a cash-burning microcap
Market: Aug. 27, 2026, 07:30 EDT
Financials: Q2 ended June 30, reported Aug. 13
Financials: Q2 ended June 30, reported Aug. 13
Premarket price
$0.67
+97.49% · +$0.33
Premarket volume
143.86M
10.5× implied shares outstanding
Implied value added
$4.50M
86.6% of Q2 operating cash use
Implied equity value
$9.15M
At $0.67 and 13.65M implied shares
Trading and operating snapshot
| Measure | Period | Value |
|---|---|---|
| Close before catalyst | Aug. 26 | $0.34 |
| Premarket range | Aug. 27, 07:30 EDT | $0.66–$0.68 |
| Q2 revenue | Quarter ended June 30 | ~$0.4M |
| H1 revenue | Six months ended June 30 | $1.4M · +112% |
| Q2 operating loss | Quarter ended June 30 | $4.2M · −34% |
| Q2 operating cash use | Quarter ended June 30 | $5.2M · −18% |
| Cash | June 30 | $2.79M |
Scale comparison
The market added almost one quarter's cash consumption. That is meaningful for a microcap, but small beside the funding needed to commercialize diagnostics.
Catalyst-to-revenue ladder
Peer-reviewed clinical validation
→
Licensing agreement
→
Regulatory and reimbursement path
→
Routine clinical adoption
→
Recurring assay revenue
Status at Aug. 27: validation completed; commercial discussions disclosed, but no contract value or revenue timetable announced. The $2.8B annual sepsis opportunity is a company estimate, not guidance.
Commercial riskIndependent validation may not convert into licensing economics, reimbursement or hospital uptake.
Financing riskJune 30 cash was below one quarter's operating cash use. Shares, warrants and an ATM facility funded Q2.
Trading riskPremarket turnover exceeded ten times implied shares. Thin liquidity can amplify both gains and reversals.
Sources: Public market data; VolitionRx clinical release; Q2 results; Yahoo Finance statistics. Calculations use rounded public figures.
NASDAQ: GENB · Investor dashboard
Lock-up supply resets the valuation debate
A 103.14 million-share resale block became eligible as Generate Biomedicines returned near its $16 IPO price. The September 8 GB-0895 data now become the next fundamental test.
Market snapshot
Aug. 26, 2026 · 15:06 EDT
Aug. 26, 2026 · 15:06 EDT
STOCK MOVELOCK-UP
Share price
$16.25
Aug. 26, 15:06 EDT
Session move
−20.3%
−$4.13 per share
Volume
3.06M
3.4× 3-month average
Market value
$2.09B
At 15:06 EDT
Information gain: the day’s $4.13 decline erased roughly $530 million of quoted equity value. The unlocked block itself was worth about $1.68 billion at $16.25.
Potentially sale-eligible share pool
SEC share count: 128.27M at June 30, 2026. Eligibility does not prove actual selling.
Price path: rally, reversal, reset
Aug. 21 close
$16.12
Aug. 24 close
$17.72
Aug. 25 close
$20.38
Aug. 26, 15:06
$16.25
GENB rose 26.4% from Aug. 21 through Aug. 25, then gave back nearly the entire advance. It remained 1.6% above the $16 IPO price at 15:06 EDT on Aug. 26.
Balance-sheet and operating signals
| Metric | Latest | Investor read |
|---|---|---|
| Cash + securities | $457.4M | 21.9% of market cap |
| H1 operating cash use | $138.3M | Runway into H1 2028 |
| Q2 collaboration revenue | $6.3M | −37.7% year over year |
| Q2 net loss | $67.3M | Widened from $56.7M |
| Q2 GB-0895 external R&D | $20.5M | +54.3% year over year |
Catalyst clock
Feb. 27IPO priced at $16; 25M shares sold for $400M gross.
Aug. 25 closeRestrictions lift on 103.14M shares, subject to securities laws.
Sept. 8GB-0895 Phase 1b COPD safety, PK and PD poster at ERS 2026.
H1 2028Management’s current cash-runway horizon and planned Phase 3 enrollment window.
What changes next: ownership supply drove this session. September data can shift the focus back to GB-0895’s pharmacology and the twice-yearly dosing case.
Analyst expectations
Average target
$25.60
Six analysts
Target range
$22–$30
S&P Global poll
As of Aug. 26, 2026. Morgan Stanley reiterated Buy with a $22 target on Aug. 17; Piper Sandler reiterated Buy with a $24 target on Aug. 7.
Investor frame
Bull case: little actual lock-up selling would make the 20% drop look like a temporary supply discount. Positive COPD data could strengthen the six-month dosing proposition ahead of larger severe-asthma readouts.
Risk case: sustained insider or venture-holder sales could cap rebounds. Weak September pharmacology, faster cash use, or Phase 3 delays would raise financing and dilution risk before commercialization.
Rasonque FDA Approval Lifts Revolution Medicines Stock 0.8% at $45.7 Billion Valuation
Rasonque won U.S. approval Wednesday, giving Revolution Medicines, Inc. its first commercial product. The stock rose 0.77% to $213.01 at 11:55 a.m. EDT.
Rasonque approval dashboard
Revolution Medicines moves from trial risk to launch risk
NASDAQ:RVMD · PRODUCT/COMMERCIAL CATALYST
Market data: August 26, 2026
11:55 EDT / 17:55 Europe/Warsaw
11:55 EDT / 17:55 Europe/Warsaw
RVMD price
$213.01
+$1.63 · +0.77%
Market value
$45.65B
≈ $351M added today
Session range
8.3%
$198.91 low · $216.50 high
Volume by 11:55
1.10M
64% of 1.71M daily average
Session price map
Range positions are scaled from the verified session low and high. This is not a minute-by-minute price chart.
What changed
Rasonque is now a first-in-class, once-daily oral RAS inhibitor for certain adults with metastatic pancreatic cancer.
First product revenueNow possible
PricingNot disclosed
AvailabilityNot disclosed
Expanded-access patients2,000+
Phase 3 survival comparison
Rasonque median overall survival13.2 months
Standard chemotherapy6.7 months
Absolute improvement+6.5 months
Relative improvement+97%
Trial population500 adults
Valuation versus operating base
| Metric | Amount | Ratio to market cap |
|---|---|---|
| Quoted market value | $45.65B | 100% |
| Cash and securities, June 30 | $3.94B | 8.6% |
| 2026 operating-expense midpoint | $2.15B | 4.7% |
| Q2 operating expenses | $505.1M | 1.1% |
| Q2 net loss | $644.4M | 1.4% |
Cash equals 1.83× the midpoint of the current annual expense guide. It is not a formal runway estimate.
Analyst expectations
Buy ratings18
Hold ratings1
Average target$222.89
Implied upside4.6%
Target range$179–$291
Based on Google Finance’s 19-analyst, three-month set at the market-data timestamp.
What the valuation requires
Launch pricing and reimbursementNear term
Initial prescriptions and net salesNext reports
First-line pancreatic expansionPhase 3
RAS-mutant lung cancer readoutExpected 2027
Broad peak-sales estimate>$20B
The >$20B estimate assumes success beyond today’s approved patient group; current market value is about 2.3× that figure.
Catalyst timeline
Phase 3 survival data established the approval case.
Company reported U.S. launch readiness and $3.94B liquidity.
FDA approved Rasonque for the initial metastatic setting.
Pricing, availability, reimbursement and prescription uptake.
Risk monitor
Commercial
Pricing remains unknown. Slow coverage decisions can defer revenue even after approval.
Execution
Manufacturing limits or weak real-world uptake would pressure launch estimates.
Valuation
The average analyst target offers only 4.6% upside. Failed expansion trials would narrow the revenue base.
Investor bridge
Approval creates the first direct sales channel for Revolution Medicines. The financial test is whether Rasonque’s launch and later-label expansion can grow into a $45.65 billion valuation while annual operating expenses run near $2.15 billion.
CRISPR Therapeutics Stock Rises 6.7% Before CTX310 Data as $80 Target Signals 31% Upside
CRISPR Therapeutics AG rose 6.70% before a late-breaking CTX310 presentation. The stock closed Tuesday at $60.90. Volume reached 2.08 million shares.
NASDAQ: CRSP · CTX310 event monitor
CRISPR Therapeutics
Investors paid for clinical optionality before the August 28 durability update.
U.S. market closedClose: Aug. 25, 2026, 16:00 EDT
After hours: $60.77, −0.21% at 17:01 EDT
After hours: $60.77, −0.21% at 17:01 EDT
Close
$60.90
Aug. 25, 16:00 EDT
Daily move
+6.70%
+$3.83 per share
Quoted value added
≈$370M
Estimate using ≈96.7M shares
Volume
2.08M
1.24× 1.69M average
Market value
$5.89B
At Aug. 25 close
Seven-session price path
Daily closes, Aug. 17–25, 2026. The latest move recaptured the prior week's high.
What moved: Citizens reiterated Market Outperform and an $80 target before the CTX310 late-breaking presentation. The target stood 31.4% above Tuesday's close.
Catalyst clock
The valuation test shifts from anticipation to durability.
Citizens kept an $80 target. CRSP closed 6.70% higher on 1.24× average volume.
Late-breaking ESC presentation. The scheduled 10:30 EDT session covers Phase 1a CTX310 durability.
Management expects another CTX310 update as Phase 1b evaluates additional patients and dose selection.
The key question
Can one-time ANGPTL3 editing preserve lipid reductions without new safety signals? Durable effects would strengthen the cardiovascular-platform case. Short-lived effects would weaken it.
CTX310 efficacy seen so far
Mean reductions at the highest tested dose in initial Phase 1 data; investigational treatment, not an approved product.
Maximum individual reductions were 89%, 84% and 87%, respectively. Initial analysis covered 15 participants with average follow-up of at least 60 days. No treatment-related serious adverse events or grade 3-or-higher liver-transaminase changes were reported.
Balance-sheet buffer
Reported for the quarter ended June 30, 2026.
Cash + securities$2.36B40.1% of market value
Q2 net loss$91.2MGAAP
Simple runway≈26 qtrsCash ÷ one quarter's loss
Q2 revenue$10.2MCollaboration revenue
R&D$67.2MQ2 expense
Convertible proceeds$585.4MIncluded in liquidity build
The 26-quarter figure is a mechanical ratio, not management guidance. Clinical spending, milestones and working capital will change the actual runway.
Analyst valuation range
Targets available Aug. 25, 2026; upside or downside versus the $60.90 close.
| Reference | Target | Implied move |
|---|---|---|
| Citizens | $80.00 | +31.4% |
| S&P Global average | $87.56 | +43.8% |
| S&P Global median | $80.00 | +31.4% |
| S&P Global low | $44.00 | −27.8% |
BUY S&P Global consensus across 22 analysts. Targets are opinions, not forecasts.
Commercial anchor: CASGEVY
Vertex leads commercialization; economics are shared with CRISPR Therapeutics.
Q2 revenue$76MReported by Vertex
Sequential growth+78%Quarter over quarter
Annual growth+151%Year over year
Vertex and CRISPR Therapeutics share CASGEVY profits and costs 60%/40%. The approved therapy provides commercial validation, but CTX310 has a different delivery method, target and risk profile.
Risk monitor
The stock move came before detailed durability data.
- CTX310 remains in early clinical development and generates no product revenue.
- The initial sample was small. Longer follow-up could change efficacy or safety conclusions.
- Durability, dose selection, liver safety and off-target editing remain central clinical tests.
- Convertible financing supports cash runway but can create interest expense and future dilution.
- CASGEVY uptake does not guarantee success for an in-vivo cardiovascular program.
Moderna Shares Surge 14.4% After Cancer-Vaccine Repricing Boosts Valuation by $8 Billion
Moderna Inc. surged 14.36% on Tuesday to close at $158.83 after Wolfe Research raised its rating on the stock to Peer Perform from Underperform. The $19.94 increase boosted Moderna's quoted equity value by approximately $8.0 billion.
Moderna · NASDAQ:MRNA
Cancer-vaccine repricing dashboard
Stock move, valuation, trial evidence and cash runway
Market closed · Aug. 25, 2026, 16:00 EDT
Close
$158.83
Aug. 25, 2026, 16:00 EDT
One-day move
+14.36%
+$19.94 per share
Volume
49.05M
3.7× three-month average
Quoted market value
$63.41B
Aug. 25 close
Six-session price path
+152.3% vs. Aug. 18Daily close, EDTSource: market history through Aug. 25, 2026
Valuation bridge
Post-readoutMarket value added Aug. 25≈$8.0B
Market value added vs. Aug. 18≈$38.3B
Q2 2026 revenue$145M
Q2 2026 net loss-$782M
Cash and investments, June 30$6.9B
2026 year-end cash outlook$4.7B–$5.2B
Financial figures reported July 31, 2026. A $950M settlement payment followed in July.
Analyst expectations
Updated through Aug. 25S&P Global consensus: Hold, 23 analysts; average target implies 37.2% downside from Tuesday's close.
Catalyst timeline
Next evidence mattersAug. 19
Phase 3 INTerpath-001 met recurrence-free and distant-metastasis-free survival endpoints; detailed figures withheld.
Aug. 24
Barclays raised its target to $125 from $48 and kept Equal Weight.
Aug. 25
Wolfe Research upgraded MRNA to Peer Perform; shares closed 14.36% higher.
Next
Full Phase 3 presentation, regulator discussions and continued overall-survival follow-up.
Trial and peer context
Aug. 19 catalyst| Measure | Reading | Investor meaning |
|---|---|---|
| INTerpath-001 enrollment | 1,137 patients | First positive Phase 3 individualized mRNA cancer-therapy readout |
| Treatment design | Up to 34 neoantigens; nine intismeran doses | Patient-specific manufacturing adds cost and turnaround risk |
| Phase 2b five-year result | 49% lower recurrence/death risk; 59% lower distant-metastasis/death risk | Supports mechanism, but Phase 3 effect size remains undisclosed |
| Moderna reaction | +176.97% on Aug. 19 | Largest direct platform repricing |
| Merck reaction | +12.6% on Aug. 19 | Extends the Keytruda franchise opportunity |
| BioNTech reaction | about +22% on Aug. 19 | Read-through for personalized mRNA oncology |
Investor bridge
The August 25 rally added about $8.0 billion in value. Since the pre-readout close, the gain is about $38.3 billion. That premium now depends on regulatory timing, manufacturing economics and success beyond melanoma.
Risks
Hazard ratios, absolute event rates and overall-survival data are pending. Personalized production may constrain margins. Other tumors may not reproduce the melanoma result. Cash burn remains material.
Timestamp: Aug. 26, 2026, 03:07 EDT / 09:07 CESTReuters market closeTrial releaseTreatment economicsModerna Q2Analyst consensus
Tenax Shares Surge 28% After $1.81 Million Insider Purchase Prior to Trial Presentation
Shares of Tenax Therapeutics, Inc. surged 27.84% on Tuesday following the disclosure that a significant shareholder made $1.81 million in open-market buys.
TENX investor dashboard
Insider conviction meets clinical uncertainty
Tenax Therapeutics · NASDAQ close · August 25, 2026, 16:00 EDT
Close
$2.37
▲ 27.84%
Volume
12.16M
3.15× recent average
Insider purchase
$1.81M
1,025,867 shares
Cash / equity value
1.33×
$118.0M / ~$88.7M
Price shock and rebound
$13.44 before LEVEL results → $2.37 Tuesday
Tuesday’s 27.84% rally recovered only a fraction of the post-trial loss. The stock remains 82.4% below August 7.
ADAR1 purchase economics
Open-market buying across three sessions
| Metric | Value |
|---|---|
| Average cost | $1.7684 |
| Cost | $1.814M |
| Value at close | $2.431M |
| Paper gain | +$617K / +34.0% |
| Reported holding | 4,853,818 shares |
The filer is a 10% owner/director, not a Tenax operating executive. Filing published August 24, 2026, 18:13 EDT.
LEVEL Phase 3 signal map
| Measure | Result |
|---|---|
| 6-minute walk distance | Primary endpoint missed |
| KCCQ symptom score | Key secondary missed |
| Lower-walk subgroup | +26.3m; nominal p=0.0112 |
| NT-proBNP | 49% greater reduction |
| RV systolic pressure | −3.5 mmHg |
| Serious adverse events | 10.8% vs 10.7% |
Financial runway
| Q2 2026 metric | Value | Comparison |
|---|---|---|
| Cash, June 30 | $117.98M | Runway through Q2 2028 |
| Net loss | $17.80M | $10.85M prior year |
| R&D | $12.85M | $6.12M prior year |
| Operating expense | $18.78M | $11.79M prior year |
| Shares at June 30 | 31.9M | 9.3M at Dec. 31 |
Post-readout analyst reset
| Firm | August action | Target | Upside from $2.37 |
|---|---|---|---|
| Canaccord Genuity | Buy maintained | $4 from $35 | 68.8% |
| Guggenheim | Buy maintained | $4 from $40 | 68.8% |
| Chardan | Buy → Neutral | $5 from $27 | 111.0% |
| Evercore ISI | Outperform → In-Line | $5 from $39 | 111.0% |
Targets can lag rapidly changing biotechnology probabilities. Actions shown are dated August 11, 2026.
What comes next
August 29 · 11:15 CESTLate-breaking LEVEL presentation at ESC Congress.
Next regulatory stepPlanned FDA Type C meeting on the subgroup path.
Core riskA subgroup signal may not support approval after two missed endpoints.
Market data: Public and Benzinga, regular-session close at August 25, 2026, 16:00 EDT. Insider data: Form 4 published August 24. Trial and event data: Tenax releases. Financial data: Tenax Form 10-Q for June 30, 2026. Equity value is derived from 37.42 million shares at $2.37 and may differ from vendor market-cap fields.
CRISPR Therapeutics Shares Advance 5.8% Ahead of CTX310 Results Release
Shares of CRISPR Therapeutics AG rose 5.8% on Tuesday, increasing its market capitalisation by roughly $319 million ahead of new CTX310 clinical results.
NASDAQ: CRSP · Stock move
CRISPR Therapeutics
CTX310 durability data becomes the next valuation test
Market data: Aug. 25, 2026, 12:38:56 EDT
U.S. regular session · Prices intraday
U.S. regular session · Prices intraday
Share price
$60.38
▲ $3.30 · +5.79%
Market cap
$5.84B
96.69M shares outstanding
Value added today
≈$319M
$3.30 × 96.69M shares
Citizens target
$80
+32.5% · ≈$7.74B implied cap
Intraday range and reference levels
The $80 target sits above the displayed 52-week high. Levels as of 12:38:56 EDT.
Balance-sheet and earnings frame
| Cash + marketable securities | $2.364B |
| Cash as share of market cap | 40.5% |
| Q2 revenue | $10.2M |
| Q2 R&D expense | $67.2M |
| Q2 net loss | $91.2M |
| CASGEVY Q2 global revenue | $76M |
Company data for quarter ended June 30, 2026; CASGEVY revenue is global product revenue reported by CRISPR.
Analyst map
| Firm | Latest action | Rating | Target | Implied return |
|---|---|---|---|---|
| Citizens | Aug. 25 | Market Outperform | $80 | +32.5% |
| Goldman Sachs | Aug. 10 | Hold | $55 | −8.9% |
| Bank of America | Aug. 5 | Buy | $82 | +35.8% |
| Morgan Stanley | Aug. 4 | Hold | $60 | −0.6% |
| Piper Sandler | Aug. 4 | Buy | $110 | +82.2% |
Google Finance displayed 13 analysts: eight Buy, five Hold and no Sell; average target $74.33. Implied returns use $60.38.
Catalyst clock
Aug. 25 · 12:38:56 EDTCRSP +5.79%; intraday high $61.55.
Aug. 28 · 16:30 CEST · MunichLate-breaking ESC presentation: durability of CTX310 effects.
Second half 2026Broader Phase 1b CTX310 update expected.
What the price is discounting
A durable ANGPTL3 response could add an in-vivo cardiovascular franchise beside CASGEVY. Tuesday's move capitalized that possibility before the data.
Risk check
CTX310 is early-stage. Small cohorts, safety findings or weaker durability could erase the move. Clinical value remains distinct from commercial value.
Investor bridge
$319 million gained versus $2.364 billion of liquidity. The stock's one-day market-value increase equals roughly 13.5% of reported cash and securities. Citizens' $80 target adds another $1.90 billion of implied equity value from the midday base. The August 28 data therefore tests whether investors will assign meaningful value to CTX310 before later-stage evidence.
Sources: CRISPR Therapeutics Q2 2026 business update; Google Finance; Citizens research note reported by Investing.com. Calculations may differ slightly because market capitalization and shares outstanding are rounded.
Generate Biomedicines Shares Up 12% as 103 Million-Share Placement Looms
Shares of Generate Biomedicines Inc. rose 12.3% on Tuesday ahead of its initial significant post-IPO supply challenge. The biotech company was trading at $19.90 as of 12:36 EDT.
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NASDAQ · GENB · Live supply test
Generate Biomedicines
The stock is rallying before 103.14 million restricted shares become eligible for resale.
Market snapshot
August 25, 2026 · 12:36 EDT
Regular session open
August 25, 2026 · 12:36 EDT
Regular session open
Share price
$19.90
▲ 12.30% · +$2.18
Intraday range
$17.38–22.67
Record high reached intraday
Volume
3.16M
3.75× three-month average
Quoted market value
$2.55B
≈ $280M added today
Potential supply: the main investor variable
103.14M restricted shares · 80.4% of outstanding25.0M IPO sharesRestricted pool is 4.13× the IPO blockRestrictions expire following the August 25 close. Eligibility does not mean holders will sell; securities-law and affiliate limits still apply.
Price context
IPO price · Feb. 2026$16.00
Premium to IPO+24.4%
52-week low$11.00
52-week high$22.67
Average target$25.60
Target upside+28.6%
Analyst expectations
| Firm | Rating | Target | Upside |
|---|---|---|---|
| Morgan Stanley | Buy | $22 | 10.6% |
| Piper Sandler | Buy | $24 | 20.6% |
| H.C. Wainwright | Buy | $25 | 25.6% |
| Goldman Sachs | Buy | $26 | 30.7% |
| Guggenheim | Buy | $30 | 50.8% |
Six-analyst consensus: Strong Buy. Targets current through Aug. 25, 2026; upside uses $19.90.
Operating signal · Q2 2026
Collaboration revenue$6.3M −37.7% YoY
R&D expense$64.3M +7.7%
Net loss$67.3M +18.5%
H1 operating cash use$138.3M +35.7%
Cash + securities$457.4M
Management runwayInto H1 2028
Catalyst timeline
Feb. 27$400M IPO priced at $16; 25M shares sold.
Aug. 25 closeLock-up expires on 103.14M restricted shares.
Aug. 26Restricted holders may gain resale eligibility, subject to limits.
Sept. 8Phase 1 COPD data for GB-0895 at ERS Congress.
Bull case
Strong volume and a price above the $16 IPO level suggest buyers are absorbing the known supply event. The average analyst target still implies 28.6% upside. Phase 3 severe-asthma studies and near-term COPD data offer clinical catalysts.
Risk case
The eligible resale pool is more than four times the IPO block. Generate has no approved products or product-sales revenue. A disappointing trial result, faster cash use or broad holder selling could compress valuation and bring forward financing risk.
Sources: Generate Biomedicines Form 10-Q filed Aug. 6, 2026; company Q2 release; Reuters IPO report; Yahoo Finance and StockAnalysis market/analyst data. Live figures timestamped Aug. 25, 2026, 12:36 EDT. Calculations use 128.269M shares outstanding and the $19.90 snapshot.
Autonomix Medical Shares Surge 52% After $4.9 Million Warrant Agreement Alters Dilution Outlook
Shares of Autonomix Medical, Inc. surged 52.51% on Tuesday following a $4.9 million warrant exercise that provided the pre-revenue device maker with additional funds.
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NASDAQ: AMIX · Stock move
Autonomix Medical
financing math
Market open snapshot
August 25, 2026 · 09:50:42 EDT
August 25, 2026 · 09:50:42 EDT
Share price
$8.19
▲ 52.51% vs. $5.37 prior close
Volume
11.0M
2.77× 3-month average
Quoted market cap
$7.95M
Yahoo Finance intraday
Gross cash
$4.9M
Before fees and expenses
The deal is large on both sides of the ledger
The immediate raise equals about 142% of June cash and 61.6% of the quoted market value. Future warrant cash requires exercise and is not assured.
Capital structure
| Instrument | Shares |
|---|---|
| Existing warrants exercised | 857,462 |
| New E-1 warrants | 535,913 |
| New E-2 warrants | 535,913 |
| Replacement coverage | 125% |
New warrants strike at $6.25 and expire five years after issuance.
Share-count sensitivity
0.971M1.829M2.900MAug. 6 reportedAfter exerciseIf new warrants exerciseIllustrative only; excludes other securities and any share changes after August 6.
Balance-sheet pressure
| June quarter | Value |
|---|---|
| Revenue | $0 |
| Net loss | $2.7M |
| Cash used in operations | $3.5M |
| Working capital | $3.1M |
| Funding need to commercialization | $25M–$30M |
The warrant cash helps, but it does not close the disclosed long-term financing gap.
What moved the shares
Aug. 24Company announces exercise of 857,462 warrants at $5.75.
Aug. 25AMIX opens at $7.60 and trades between $7.38 and $8.73 by 09:50 EDT.
Aug. 26Expected closing, subject to customary conditions.
Five yearsNew E-1 and E-2 warrants remain exercisable at $6.25.
Analyst signal
Sparse coverage
$58.80
Two-analyst average target
Maxim Group: Buy, $42 target. Latest cited update: June 2, 2026. Targets predate this financing and carry high uncertainty.
Investor bridge
The immediate cash can fund clinical and device work. The stock's 52.5% gain prices that liquidity quickly. Existing holders must weigh it against an immediate share increase and a larger replacement-warrant overhang.
Risks
Closing conditions, further equity raises, clinical execution, FDA timing, sparse liquidity and a going-concern disclosure all matter. The technology is investigational and has not been cleared for U.S. marketing.
Sources: Autonomix Medical announcement dated August 24, 2026; Yahoo Finance AMIX quote at August 25, 2026, 09:50:42 EDT; Autonomix June-quarter filing; StockAnalysis analyst data last updated June 2, 2026. Calculations are TS2 estimates from disclosed figures and are rounded.
Moderna Shares Drop 4% as $17 Billion Valuation Gap Challenges Cancer Vaccine-Fueled Surge
Shares of Moderna, Inc. dropped 4.3% on Monday, as investors weighed the extent to which a milestone cancer-vaccine result could sustain the company's value ahead of regulators reviewing the complete data.
Investor dashboard · NASDAQ: MRNA
Moderna’s cancer-vaccine valuation test
Science reset the probability. Full Phase 3 data must now justify the price.
Market closed
24 Aug 2026 · 16:30 EDT
24 Aug 2026 · 16:30 EDT
Close
$138.89
−4.30% Monday
Volume
31.50M
2.39× three-month average
Since Aug. 18
+120.6%
Pre-readout close: $62.96
Market value
$55.5B
Approx.; 399.24M shares
Five-session repricing
Closing priceAug. 19 volume: 199.25MAug. 24 volume: 31.50M
Valuation gap
Current price
$138.89
Consensus target
$95.67
−31.1% implied price gap. At current shares outstanding, that is about $17.3B of equity value.
Fresh analyst reset
| Firm | Rating | Target | Date |
|---|---|---|---|
| Barclays | Hold | $48 → $125 | Aug 24 |
| UBS | Hold | $50 → $150 | Aug 20 |
| Morgan Stanley | Hold | $39 → $89 | Aug 19 |
| Jefferies | Hold | $60 | Aug 19 |
| BofA | Hold | $40 → $170 | Aug 19 |
23-analyst consensus: Hold · range $25–$170
Catalyst and disclosure gap
| Trial | Phase 3 INTerpath-001; 1,137 patients |
|---|---|
| Combination | Intismeran autogene + Keytruda |
| Result | Both primary endpoints met |
| Known | RFS and DMFS statistically significant |
| Not yet disclosed | Hazard ratios, absolute curves, filing timetable |
| Next trigger | Medical-meeting presentation or regulatory guidance |
Fundamentals and runway
| Metric | 2026E | 2027E |
|---|---|---|
| Revenue | $2.11B | $2.46B |
| Growth | +8.35% | +16.66% |
| EPS | −$8.62 | −$4.58 |
Year-end 2026 cash forecast: $4.7B–$5.2B
Q2 GAAP net loss: about $0.8B. Operating-expense outlook improved by about $0.2B.
Investor decision map
| Scenario | What changes | Likely read-through |
|---|---|---|
| Bull | Large effect, clean safety, quick filing | Pipeline value broadens across tumors |
| Base | Clinically useful result, normal review | Wide target range persists |
| Bear | Modest effect or manufacturing friction | Premium over consensus compresses |
Sources and timestamps: price and volume at 24 Aug 2026, 16:30 EDT — StockAnalysis, Investing.com; analyst targets as of 24 Aug 2026 — StockAnalysis and The Fly/TipRanks; trial — company release; financials — Moderna IR. Calculations use unrounded inputs where available.
SELLAS Shares Build on 15% Surge Ahead of $2.98 Billion Pipeline Milestone
SELLAS Life Sciences Group, Inc. shares built on Friday’s 15.37% surge in premarket trade Monday, rising a further 1.62% to $15.71 at 08:40 EDT. The stock was 1.1% shy of its 52-week peak at $15.88.
NASDAQ · SLS
SELLAS catalyst dashboard
Market data timestamp: August 24, 2026, 08:40 EDT · U.S. premarket
$15.71+1.62% premarket
Friday: +15.37%
Friday close
$15.46
$2.06 daily gain
52-week high
$15.88
Premarket price is 1.1% below it
Market value
$3.12B
Based on Friday's close
Beta
2.49
High event-driven volatility
Five-session price path
Five-session gain: 18.9%. Friday volume reached 15.11 million, 2.8× Monday's turnover.
What the valuation assumes
$2.982B
Implied pipeline and other value after subtracting June cash from Friday's equity value.
Cash 4.4%Pipeline/other 95.6%
Catalyst clock
| Program | Status | Next event |
|---|---|---|
| GPS / REGAL Phase 3 | 78 of 80 events as of May 11 | 80th event → final analysis |
| SLS009 frontline AML | 28 of 80 patients enrolled | Topline Q4 2026 |
| SLS009 pancreatic | Preclinical | Conference data |
Street view
| Consensus | BUY |
| Average target | $32.50 |
| Maxim | $30 |
| Alliance Global | $35 |
Only two analysts comprise the cited consensus.
Balance-sheet buffer
$138.3M
Cash at June 30. Q2 net loss was $9.6 million; R&D expense was $6.3 million.
Dilution marker
+31.9%
Shares outstanding: 201.9 million at June 30, versus 153.1 million at December 31.
Why it is moving
Investors are front-running the REGAL event threshold and repricing the cancer-vaccine readout. Friday had no new SELLAS release, so expectation—not fresh clinical evidence—drove the move.
Risk frame
REGAL is a binary clinical catalyst with event-driven timing. A negative result could unwind much of the $2.98 billion non-cash premium. Delays, regulatory setbacks, rising trial costs and additional share issuance remain material.
Sources: SELLAS Q2 2026 corporate update and balance sheet; StockAnalysis / S&P Global Market Intelligence; Maxim and Alliance Global notes reported by The Fly via TipRanks. Pipeline value is an arithmetic estimate, not company guidance.
Capricor’s FDA Delay Leaves a $2.20-a-Share Bet on Deramiocel
Capricor Therapeutics, Inc. ended Friday with only about $2.20 per share of equity value above its June cash. That preliminary figure frames the wager on deramiocel after regulators delayed their decision.
NASDAQ: CAPR · Event-driven biotech
Deramiocel: more review, more runway risk
Market data through August 21, 2026, 4:00 p.m. EDT · Financial data through June 30, 2026
$6.29
−8.04% Friday
After hours: $6.38 at 7:59 p.m. EDT
Cash per share
$4.09
June cash ÷ 58.1m reported shares
Price above cash
$2.20
Preliminary; not liquidation value
Market cap
$365.5m
Friday close × June share count
Target range
$2–$28
Consensus Hold · median $6
Six-session repricing
August 14 volume reached 66.3m shares. Friday volume was 8.3m, while the close sat 5.4% below August 14.
Regulatory evidence stack
Bar lengths are visual emphasis, not probabilities. The committee vote was advisory and nonbinding.
Cash versus burn
| Metric | 2026 | Comparison |
|---|---|---|
| Cash & securities | $237.9m | −$80.2m in H1 |
| Q2 operating expense | $42.9m | +55.0% YoY |
| Q2 net loss | $40.7m | +57.2% YoY |
| Runway at H1 loss pace | ~19 months | Preliminary |
Company guidance: resources fund at least the next 12 months.
Analyst recommendation map
| Firm | Action | Rating | Target | Versus $6.29 |
|---|---|---|---|---|
| Cantor Fitzgerald | Upgrade | Buy | $28 | +345% |
| Piper Sandler | Maintain | Hold | $2 | −68% |
| B. Riley | Maintain | Hold | $5 | −21% |
| Consensus | — | Hold | $10.50 avg. | +67% |
| Median | — | — | $6 | −5% |
Wall Street Targets Trail Moderna as Cancer-Vaccine Surge Continues
Moderna, Inc. closed the week, its best in years, at $145.13. The biotech company's shares climbed 8.9% on Friday, following a near-tripling of the stock's value on Wednesday and a sharp drop on Thursday. From August 14, the five-day rally amounted to a 129.2% increase.
NASDAQ · MRNA
The cancer-vaccine rerating
Market data as of August 21, 2026, 16:00 EDT (22:00 CEST). U.S. market closed.
Friday close
$145.13
+8.86% Friday
Five-session move
+129.2%
From $63.32 on Aug. 14
Friday volume
86.7M
6.7× 3-month daily average
Market value
$57.9B
399.2M shares outstanding
Five-session price shock
Why the stock moved
Phase 3 crossed the lineIntismeran plus Keytruda met recurrence-free and metastasis-free survival endpoints.
First-of-kind proofThe companies called it the first positive Phase 3 result for an individualized neoantigen therapy.
Short squeeze amplified itS3 estimated a $5.5 billion one-day mark-to-market loss for short sellers.
Full data remain pendingNo Phase 3 hazard ratios or overall-survival figures were disclosed.
Analyst targets after the readout
| Firm | Rating | Target | Gap |
|---|---|---|---|
| BofA | Hold | $170 | +17.1% |
| UBS | Hold | $150 | +3.4% |
| Goldman | Hold | $120 | -17.3% |
| Morgan Stanley | Hold | $89 | -38.7% |
| Consensus | Neutral | $78.78 | -45.7% |
Clinical and financial bridge
| Phase 3 patients | 1,137 |
| Prior Phase 2b recurrence/death reduction | 49% |
| Q2 revenue | $145M |
| Q2 GAAP net loss | $782M |
| June cash and investments | $6.9B |
| 2026 year-end cash outlook | $4.7B-$5.2B |
What matters next
Detailed Phase 3 data
Highest-impact catalyst
Regulatory path
Approval discussions and timing
Commercial economics
Personalized manufacturing, pricing and margin
Sources: Moderna and Merck Phase 3 release, Moderna Q2 2026 SEC filing, Nasdaq/Yahoo Finance closing data, Investing.com analyst targets, S3 Partners estimate reported by Business Times. Percentages are calculated from cited closes and targets. This dashboard is informational, not investment advice.
SELLAS Shares Gain $416 Million With REGAL Trial Approaching Final Analysis
SELLAS Life Sciences Group, Inc. ended Friday at $15.46, marking a 15.4% increase. Based on its share count as of June 30, the gain represents an approximate $416 million boost in market capitalization. The figure is provisional, as the number of outstanding shares may have varied since the end of the quarter.
NASDAQ:SLS · Weekend investor dashboard
$416M added without new company data
SELLAS' rally now rests on an event-driven Phase 3 survival readout. Cash is meaningful, but it explains only 4.4% of market value.
Market closed · Data through August 21, 4:00 p.m. EDT
Friday close
$15.46
+15.4% · 2.6% below 52-week high
Estimated value added
$416M
Friday · June 30 share count
Market capitalization
$3.12B
22.6× reported cash
Cash
$138.3M
June 30 · 4.4% of market value
Three-week repricing
SLS gained 54.4% across three consecutive winning weeks.
Valuation split
What Friday's equity value represents
No product revenue was reported for the first half of 2026.
The binary center
REGAL is event-driven; the date cannot be fixed.
Success path
Statistically significant, clinically meaningful survival could support a potential BLA filing.
Failure path
A missed survival endpoint would remove the main late-stage pillar beneath valuation.
127 patients
Actual enrollmentRandomized Phase 3 AML maintenance study
80th death
Final-analysis triggerDatabase lock, review, unblinding, topline disclosure
Cash came with dilution
Six months ended June 30, 2026
Oncology momentum and analyst expectations
Weekly stock moves use August 14–21 closes. Targets are current S&P Global consensus data.
| Company | Weekly move | Consensus | Analysts | Average target | Implied return |
|---|---|---|---|---|---|
| Moderna · NASDAQ:MRNA | +129.2% | Hold | 23 | $91.39 | -37.0% |
| SELLAS · NASDAQ:SLS | +21.0% | Buy | 2 | $32.50 | +110.2% |
| Merck · NYSE:MRK | +12.3% | Buy | 28 | $147.77 | -3.1% |
| ImmunityBio · NASDAQ:IBRX | +2.9% | Strong Buy | 4 | $12.75 | +63.7% |
Next checkpoints
Event-driven
REGAL 80th eventNo fixed announcement date
Q4 2026
SLS009 topline dataFront-line AML study
Upcoming
Pancreatic preclinical dataMedical conference planned
Risk lens
REGAL could miss its survival endpoint or face regulatory demands for more evidence. SLS009 remains early. Warrant exercises and future equity sales can dilute holders. A reversal in cancer-vaccine sentiment could erase gains before company-specific data arrive.
Stock data: August 21, 2026, 4:00 p.m. EDT. Dashboard status: August 22, 2026, 6:24 a.m. EDT. Sources: SELLAS SEC filings; ClinicalTrials.gov; Yahoo Finance; StockAnalysis. Peer programs differ in platform, indication and stage.
Moderna Shares (NASDAQ:MRNA) Finish Landmark Week, Surging 70% Over Wall Street Consensus
Moderna, Inc. closed its most turbulent week since the pandemic at $145.13. The stock rose 8.86% on Friday, following two days of sharp gains and losses. After-hours trading added a further 0.43%, bringing shares to $145.75.
Moderna · NASDAQ:MRNA
Endpoints met.
The valuation ran ahead.
Official close: August 21, 2026, 16:00:01 EDT
Nasdaq · U.S. dollars
Nasdaq · U.S. dollars
Friday close
$145.13▲ 8.86%
Day range $132.42–$159.47 · Volume 86.74M vs. 15.08M average
15-analyst average target
$85.46
41.1% below Friday's close
Consensus: 2 Buy · 12 Hold · 1 Sell
Since Tuesday+130.5%
$62.96 before the readout to $145.13 Friday.
Equity value added≈$32.81B
$82.17 per share × 399.24M shares.
Current market cap$57.94B
About 8.4× June cash and investments.
June liquidity$6.90B
Before the $950M litigation payment made in July.
Three-session repricing
Analyst target map
Bank of America · Alec StranahanHOLD $170
UBS · Michael YeeHOLD $150
RBC Capital · Luca IssiHOLD $130
Goldman Sachs · Salveen RichterHOLD $120
J.P. Morgan · Jessica FyeSELL $77
Only Bank of America's $170 target sits clearly above Friday's close. UBS's $150 target leaves 3.4% upside.
What the market has—and has not—seen
INTerpath-001 enrolled 1,137 melanoma patients and met recurrence-free and distant-metastasis-free survival endpoints. No new safety signal emerged. The full Phase 3 hazard ratios, confidence intervals, subgroup results and overall-survival data remain undisclosed. Investors have added $32.81 billion of equity value without the effect size.
Next proof points
- Full data at an international medical meeting
- Regulatory filing timeline
- Manufacturing economics for personalized doses
- Success beyond melanoma across nine Phase 2/3 studies
- 50/50 profit split with Merck
Risk: the price can reverse if detailed efficacy, safety or regulatory timing falls short of the expectations embedded in the rally.
Sources: Google Finance · Phase 3 release · SEC Q2 filing
SELLAS Shares Climb 15% as Market Values Company $2.98 Billion Over Cash Pre-AML Update
SELLAS Life Sciences Group, Inc. climbed 15.37% on Friday, ending the session at $15.46 — just 2.6% shy of its 12-month peak. The surge lifted the market capitalization of the clinical-stage biotech firm to $3.12 billion.
NASDAQ:SLS · Investor dashboard
Almost all value sits in the pipeline
Market snapshot: August 21, 2026 · 16:33 EDT
Regular session closed
Regular session closed
Closing price
$15.46
▲ 15.37% Friday
Market value
$3.12B
Near the yearly high
Cash
$138.3M
June 30, 2026
52-week high gap
−2.6%
High: $15.88
Friday's risk-on move
SELLAS
+15.37%
Nasdaq
+0.43%
S&P 500
+0.43%
Volume
1.74×
SLS beat the Nasdaq by 14.94 percentage points.
What backs the valuation?
$2.98B
market value beyond cash
Arithmetic, not formal enterprise value
Two AML catalysts
REGAL Phase 378 of 80 eventsCount reported May 11. Final analysis follows event 80.
ThenLock and unblindBlinded data review precedes the final statistical result.
SLS009 Phase 228 of 80 patientsTopline data targeted for Q4 2026.
No exact REGAL result date has been announced.
Financial runway signals
| Q2 net loss | $9.6M |
| Q2 R&D | $6.3M |
| Cash / share | $0.68 |
| Shares outstanding | 201.9M |
| Share-count growth | +31.9% |
Analyst target range
Friday close$15.46
Maxim$30
Consensus$32.5
Alliance$35
Both named firms carry Buy recommendations.
What matters next week
Primary watch80th eventWould trigger the REGAL analysis process.
Tape risk52-week highOnly $0.42 above Friday's close.
Bull caseSurvival winCould support BLA preparation.
Bear caseBinary missCash supports little of current value.
Investor takeaway
Friday's rally was not a cash story. At $15.46, investors assigned roughly 95.6% of SELLAS's market value to clinical programs, execution and future commercial economics.
Sources: Yahoo Finance market data at August 21, 2026, 16:33 EDT; SELLAS Q2 2026 release and SEC filings; analyst actions dated August 13 and August 17, 2026. Clinical timelines and potential regulatory steps are forward-looking and subject to trial outcomes.
Werewolf Therapeutics Shares Surge Twofold After Ambros Merger, Investors Retain 6.8% Stake
WALTHAM, Massachusetts, August 21, 2026, 16:25 EDT — Shares of Werewolf Therapeutics doubled in value after the company merged with Ambros, with Werewolf shareholders holding 6.8% of the combined entity.
NASDAQ: HOWL · Transaction dashboard
The stock doubled.
The ownership math matters more.
The ownership math matters more.
Werewolf Therapeutics × Ambros Therapeutics
$0.8735▲ 102.6%
Regular-session close · Aug. 21, 2026 · 16:00 EDT
Market cap
$42.5M
10.6% below the deal's $47.5M implied Werewolf value
Friday volume
290.4M
196.9× the three-month daily average
PIPE financing
$150M
3.5× Friday's HOWL market capitalization
Cash runway
H1 2029
Company estimate, including planned PIPE proceeds
Expected post-merger ownership
Percentages can change with Werewolf's net cash at closing.
Valuation bridge · pre-financing
Ambros implied value$500.0M
Werewolf implied value$47.5M
Value ratio10.5×
Friday HOWL cap$42.5M
Market cap equals 89.4% of negotiated Werewolf value.
Friday price discovery
The close was 16.8% below the session high.
Clinical clock
NowCRPS-RISE Phase 3
Q1 2027Target merger close
2028Topline data expected
H1 2029Runway estimate
Breakthrough TherapyFast TrackOrphan Drug
Legacy analyst screen · pre-deal
Buy2
Hold4
Sell1
ConsensusHold
Average target$3.75
Seven-analyst aggregation dated Aug. 5. It covers the old Werewolf story, not the Ambros transaction.
What can break the thesis
Deal riskVotes, S-4 and Nasdaq listing remain
Ownership risk6.8% can move with net cash
Clinical riskOne pivotal readout carries most value
Liquidity riskFriday turnover was extraordinary
Residual valueCVR proceeds remain uncertain
Investor takeaway
The rally repriced a public shell into a funded Phase 3 biotechnology bet.
The key number is 6.8%, not 102.6%. The next evidence is the registration statement, closing net cash and new analyst work built around neridronate.
Jupiter Neurosciences Jumps 59% as Volume Hits 59 Times Its Share Count
JUPITER, Florida, August 21, 2026, 11:25 EDT — Jupiter Neurosciences, Inc. surged 59.4% to $8.24 by 11:16:20 EDT. More than 45.3 million shares had changed hands. That volume was about 59 times the company’s entire reported share count.
NASDAQ:JUNS · Investor dashboard
A 59% rally, but a $28.7M listing gap
Market snapshot: August 21, 2026, 11:16:20 EDT (UTC−04:00) · Market open
$8.24▲ 59.38%
Volume
45.31M
By late morning
Volume / shares
58.8×
Exceptional intraday recycling
Market value
$6.35M
Only 18.1% of Nasdaq threshold
Below day high
26.4%
$8.24 versus $11.20
Nasdaq market-value test
At 770,081 shares, the threshold implies $45.45 per share. That is math, not a price target.
Price path
Previous close$5.17
Friday open$8.23
Session high$11.20
11:16:20 EDT$8.24
High churn · wide $7.66–$11.20 rangeBalance-sheet pressure · six months ended June 30
Cash$1.52M
Operating cash used$3.73M
Net loss$4.34M
Net revenue$42.9K
Cash equaled 40.8% of first-half operating cash use. This is a mechanical comparison, not a runway forecast.
What the move appears to reflect
Fresh SEC filing after August 14No
Reverse split1-for-75 on August 6
Reported shares770,081
Best-supported readTechnical / low-float churn
The trading explanation is an inference from turnover, post-split structure and the absence of a newer disclosure.
Investor checklist
Minimum-bid compliancePrice above $1; formal status still matters
$35M market-value testLarge gap remains
FinancingPotential dilution under existing facility
Clinical valueDepends on future Nugevia/JOTROL evidence
BioNTech jumps $5.1 billion in premarket; analyst target now just 8% higher
BioNTech SE retained the majority of a $5.1 billion rise in market value following positive data from a competing cancer vaccine. Shares ended Thursday at $110.89, a decline of 1.97% after surging 21.96% on Wednesday.
NASDAQ:BNTX · Event read-through
A $5.1bn rally before BioNTech's own proof
Moderna and Merck validated the category. BioNTech kept most of the sympathy gain, compressing the gap to the existing analyst consensus.
Price: $110.89
Aug. 20, 2026 · 16:00 EDT
U.S. regular close
Aug. 20, 2026 · 16:00 EDT
U.S. regular close
Event-day move
+21.96%
Aug. 19 close: $113.12
Value added
$5.12bn
Estimate using 251.2m shares
Volume shock
9.1×
8.61m vs 0.945m recent average
Gain retained
89%
Through Aug. 20 close
Analyst targets: rally consumed the cushion
Average target implies 8.4% upside; targets predate the Aug. 19 rally.
Capital to fund the test
Q2 revenue: €105.6m · IFRS net loss: €820.8m
What the market validated—and what it did not
| Program | Stage | Evidence | Investment read |
|---|---|---|---|
| Moderna/Merck intismeran | Phase 3 | Positive topline in 1,137 resected melanoma patients | Direct category validation |
| BioNTech BNT111 | Phase 2 | Positive response-rate endpoint vs historical control | Promising, not registrational proof |
| BioNTech autogene cevumeran | Phase 2 | Missed primary PFS endpoint in advanced melanoma | Platform outcomes can diverge |
Investor lens
The market has already paid BioNTech for part of the platform validation. At $110.89, the pre-rally analyst average is only 8.4% higher. The next durable leg likely needs BioNTech-specific efficacy.
Risk check
Detailed peer data are still pending. Manufacturing, regulation and reimbursement remain unresolved. BioNTech's own trials may not reproduce Moderna's result.
Sources: Yahoo Finance, Reuters, BioNTech Q2 2026, S&P Global analyst poll via StockAnalysis. Market-value estimate uses the latest reported 251.2m shares. Analyst targets and consensus are estimates, not guarantees.
Tempus AI Shares Jump $3 Billion After Moderna Victory Boosts Value of $1.5 Billion Personalis Stake
Tempus AI, Inc. saw its market capitalisation increase by roughly $3.03 billion since the close on Tuesday. Shares climbed 24.1% on Wednesday, followed by an additional 8.8% advance to $66.65 on Thursday. The stock surged 35.0% over the two sessions.
NASDAQ:TEM · Investor dashboard
A $3.03bn repricing meets a $1.50bn deal
Tempus's two-session rally prices a broader cancer-monitoring opportunity, not merely the pending Personalis acquisition.
Market data: Aug. 20, 2026 · 16:00 EDT
Close
$66.65
▲ 8.82% on Thursday
Two sessions
+35.0%
From $49.36 on Aug. 18
Equity value added
$3.03bn
Using 175.39m shares
Vs. Personalis deal
2.02×
Rally value ÷ $1.50bn EV
The catalyst arrived in two steps
TEM closeWednesday: Moderna/Merck readoutThursday: BTIG target increase
Deal math
Personalis enterprise value$1.50bn
Two-session TEM value gain$3.03bn
Personalis annualized Q2 sales$89.6m
Deal / annualized sales16.7×
Close above $46 deal threshold44.9%
Second-quarter operating scorecard
Tempus revenue$382.5m · +22%
Tempus adjusted EBITDA$8.0m
Tempus cash$820.7m
Personalis revenue$22.4m · +30%
Personalis clinical revenue$2.6m · +442%
Personalis clinical tests10,384 · +199%
What the price now assumesTempus must convert the trial signal into repeat testing volume and integrate Personalis. Detailed Phase 3 efficacy data remain undisclosed, approvals are pending, and the stock-funded deal adds price risk.
Sources: Google Finance; Tempus Q2 2026; Tempus–Personalis terms; Personalis Q2 2026. Calculations by TS2. Market cap change uses 175.39 million shares. Targets are not guarantees.
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