Arbutus Biopharma Corporation (ABUS)
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Aethlon Medical: the blood-filter high-risk thesis racing a $7 million cash clock
AEMD is not a revenue story yet. It is a clinical-stage Hemopurifier bet with FDA Breakthrough Device designations, an Australian oncology trial, a going-concern warning, reverse splits, warrant mechanics and a cash balance that makes every new data point matt
OpenAddex: The Tiny Biotech Racing Its Cash Clock With a Cough Drug and a Spin-Out Option
Addex has real allosteric-modulator science, but the public-company story now turns on CHF 1.6 million of year-end cash, a delayed 2025 Form 20-F, chronic-cough preclinical data, dipraglurant repositioning, and a 20% Neurosterix option.
OpenAdaptive Biotechnologies: Can clonoSEQ outrun the cash-burn clock?
Adaptive's clonoSEQ MRD business is finally showing scale, but the proof gate is whether test volume, reimbursement, pharma milestones, and operating leverage can absorb cash burn and the OrbiMed revenue-interest obligation.
OpenADC Therapeutics: the lymphoma readout trying to beat the royalty wall
ADCT already sells ZYNLONTA, but the story is not solved by having revenue. The next question is whether the 2026 lymphoma data can widen the drug's role before cash burn, royalties, debt, and dilution take the lead.
OpenACADIA (ACAD): two drugs, $1.25 billion guidance, and one Alzheimer readout that can change the stock
ACAD is no longer the kind of biotech where everything hangs on a single trial. The sharper question is whether NUPLAZID and DAYBUE can fund a third CNS franchise before concentration, payer pressure, and pipeline risk catch up.
OpenAdagene: the masked-antibody bet trying to outrun dilution
Adagene is trying to turn SAFEbody antibody masking into a broader immuno-oncology platform. The hook is muzastotug's early dose-dependent signal; the catch is that randomized proof, partner execution, and financing still decide the stock.
OpenActuate Therapeutics: the survival signal with a July cash wall
Actuate has a company-defining elraglusib Phase 2 pancreatic-cancer survival signal and a new oral IND, but the same source set shows no product revenue, going-concern disclosure, and a need for capital beyond July 2026.
OpenArbutus (ABUS): the $179M settlement windfall hiding inside a pre-commercial HBV biotech
ABUS is suddenly cash-relevant because of a Moderna/Genevant settlement receivable, but the core company is still a small clinical-stage HBV developer that must prove imdusiran can move beyond Phase 2a signals.
OpenAcumen Pharmaceuticals (ABOS): the Alzheimer readout racing a cash clock
Acumen's sabirnetug story is dominated by one late-2026 ALTITUDE-AD readout, a going-concern warning, and a cash runway that may not reach commercial proof.
OpenAscentage Pharma (AAPG) Coverage Bootstrap: commercial-stage oncology biotech with China approvals and global Phase 3 optionality
Official-source baseline for Ascentage Pharma using SEC submissions, FY2025 Form 20-F, SEC companyfacts, company-filed FY2025 results releases, ASCO 2026 update, annual meeting materials, and oncology peer filings.
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