Active · established relationshipLatest completed snapshot · Jul 14 · 18:03 ET

MARKET-DISCOVERED GROUP

Rare Disease Biotech

THE TRADER READShared activity without a clean directional read

Price direction is split across 4 measured members. Capital-flow agreement is 23%, so the basket is not yet clean.

Price breadth2 up · 2 downRelative median unavailable

Capital-flow alignment23%Price breadth is not yet confirmed by flow

Activity nowExtremeActivity score 97/100 · lift 1.3×

Evidence depth2 episodesLow sample—context, not a validated playbook

EVIDENCE CLOCK

What happened, in timestamp order

0 timed events

TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

WED, OCT 29ARDX filing documented shared operating contextproduct pipeline / R&D affecting expense · date precision only

WED, NOV 5AMLX filing documented shared operating contextproduct pipeline / R&D affecting expense · date precision only

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations

Price sequence unavailableA timestamped price sequence is unavailable.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast

WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

24/24 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across AMLX, ARTV, BIOA, CBIO, CRBP, CTMX, IMMX, JANX, LENZ, MBX, MIRM, MLYS, PCVX, PTGX, RARE, STOK, TECX, TENX, VIR, VKTX, VSTM.

product pipeline / R&D affecting expense

“The decrease was partially offset by a $17.3 million increase in expenses related to the pivotal Phase 3 LUCIDITY clinical trial in PBH and other costs related to avexitide, a $2.0 million increase in expenses related to AMX0035 for the treatment of PSP, and a $2.1 million increase in expenses related to other research and development activities.”
AMLX 10-Q · 2025-11-06

credit / rates affecting interest expense

“The increase in non-cash interest expense related to the sale of future royalties in 2025 and 2024 primarily reflected the imputed interest accrued on the increasing carrying value of the deferred royalty obligation, partially offset by royalties and commercialization milestones received from Kyowa Kirin related to the sale of PHOZEVEL, which were remitted to HCR.”
ARDX 10-K · 2026-02-19

product pipeline / R&D

“All of the Company's tax years are subject to examination by federal and state tax authorities due to the carryforward of unutilized net operating losses and research and development credits.”
JANX 10-K · 2026-02-26

CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

XNCRNot confirming

JANX · text peer

NBIXNot confirming

BIOA · text peer

REPLNot confirming

CBIO · text peer

CMPXNot confirming

CTMX · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately

JANXSTOKMIRMCTMXRAREMBXLENZTENXVSTMPTGXASMBBIOACBIOAMLXVKTXCRBPVIRPCVXARTVARDXIMMXUNCYMLYSTECX

23/24 active2 rising · 2 falling

MemberUnusual activityToday's moveRead now

JANXJanux Therapeutics, Inc.

Most unusual · 100/100

—

Active; unclassifiedActive in 16.7% of observed group sessions

STOKStoke Therapeutics, Inc.

Elevated · 97/100

—

Active; unclassifiedActive in 16.7% of observed group sessions

MIRMMirum Pharmaceuticals, Inc.

Elevated · 60/100

-0.9%

Flow confirmerActive in 50% of observed group sessions

CTMXCytomX Therapeutics, Inc.

Elevated · 52/100

—

Active; unclassifiedActive in 33.3% of observed group sessions

RAREUltragenyx Pharmaceutical Inc.

Elevated · 51/100

—

Flow confirmerActive in 50% of observed group sessions

MBXMBX Biosciences, Inc.

Elevated · 38/100

—

Flow confirmerActive in 16.7% of observed group sessions

LENZLENZ Therapeutics, Inc.

Elevated · 37/100

—

Active; unclassifiedActive in 66.7% of observed group sessions

TENXTenax Therapeutics, Inc.

Elevated · 36/100

—

Active; unclassifiedActive in 33.3% of observed group sessions

VSTMVerastem, Inc.

Elevated · 35/100

—

Flow confirmerActive in 16.7% of observed group sessions

PTGXProtagonist Therapeutics, Inc.

Elevated · 34/100

+2.5%

Active; unclassifiedActive in 0% of observed group sessions

ASMBAssembly Biosciences, Inc.

Elevated · 25/100

—

Active; unclassifiedActive in 50% of observed group sessions

BIOABioAge Labs, Inc.

Elevated · 25/100

—

Active; unclassifiedActive in 33.3% of observed group sessions

CBIOCrescent Biopharma, Inc.

Elevated · 24/100

—

Active; unclassifiedActive in 0% of observed group sessions

AMLXAmylyx Pharmaceuticals, Inc.

Elevated · 21/100

—

Active; unclassifiedActive in 0% of observed group sessions

VKTXViking Therapeutics, Inc.

Elevated · 21/100

-1.5%

Active; unclassifiedActive in 0% of observed group sessions

CRBPCorbus Pharmaceuticals Holdings

Elevated · 19/100

—

Active; unclassifiedActive in 0% of observed group sessions

VIRVir Biotechnology, Inc.

Participating · 18/100

—

Active; unclassifiedActive in 0% of observed group sessions

PCVXVaxcyte, Inc.

Participating · 17/100

+2.1%

Active; unclassifiedActive in 0% of observed group sessions

ARTVArtiva Biotherapeutics, Inc.

Participating · 16/100

—

Active; unclassifiedActive in 0% of observed group sessions

ARDXArdelyx, Inc.

Participating · 14/100

—

Active; unclassifiedActive in 0% of observed group sessions

IMMXImmix Biopharma, Inc.

Participating · 13/100

—

Active; unclassifiedActive in 0% of observed group sessions

UNCYUnicycive Therapeutics, Inc.

Participating · 13/100

—

Active; unclassifiedActive in 0% of observed group sessions

MLYSMineralys Therapeutics, Inc.

Participating · 12/100

—

Active; unclassifiedActive in 33.3% of observed group sessions

TECXTectonic Therapeutic, Inc.

Quiet · 6/100

—

Watch / laggardActive in 0% of observed group sessions

View exact member values

TICKER	Company	Role now	Today	Observed history	Trader interpretation
JANX	Janux Therapeutics, Inc.	Most unusual	—	16.7% of 6 sessions	Most unusual activity in this snapshot; performance direction may differ.
STOK	Stoke Therapeutics, Inc.	Participating	—	16.7% of 6 sessions	Price participation is not yet confirmed by per-name flow.
MIRM	Mirum Pharmaceuticals, Inc.	Participating	-0.9%	50% of 6 sessions	Price participation with accumulating signed flow.
CTMX	CytomX Therapeutics, Inc.	Participating	—	33.3% of 6 sessions	Price participation is not yet confirmed by per-name flow.
RARE	Ultragenyx Pharmaceutical Inc.	Participating	—	50% of 6 sessions	Price participation with accumulating signed flow.
MBX	MBX Biosciences, Inc.	Participating	—	16.7% of 6 sessions	Price participation with accumulating signed flow.
LENZ	LENZ Therapeutics, Inc.	Participating	—	66.7% of 6 sessions	Price participation is not yet confirmed by per-name flow.
TENX	Tenax Therapeutics, Inc.	Participating	—	33.3% of 6 sessions	Price participation is not yet confirmed by per-name flow.
VSTM	Verastem, Inc.	Participating	—	16.7% of 6 sessions	Price participation with accumulating signed flow.
PTGX	Protagonist Therapeutics, Inc.	Participating	+2.5%	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
ASMB	Assembly Biosciences, Inc.	Participating	—	50% of 6 sessions	Price participation is not yet confirmed by per-name flow.
BIOA	BioAge Labs, Inc.	Participating	—	33.3% of 6 sessions	Price participation is not yet confirmed by per-name flow.
CBIO	Crescent Biopharma, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
AMLX	Amylyx Pharmaceuticals, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
VKTX	Viking Therapeutics, Inc.	Participating	-1.5%	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
CRBP	Corbus Pharmaceuticals Holdings	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
VIR	Vir Biotechnology, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
PCVX	Vaxcyte, Inc.	Participating	+2.1%	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
ARTV	Artiva Biotherapeutics, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
ARDX	Ardelyx, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
IMMX	Immix Biopharma, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
UNCY	Unicycive Therapeutics, Inc.	Participating	—	0% of 6 sessions	Price participation is not yet confirmed by per-name flow.
MLYS	Mineralys Therapeutics, Inc.	Participating	—	33.3% of 6 sessions	Price participation is not yet confirmed by per-name flow.
TECX	Tectonic Therapeutic, Inc.	Quiet / lagging	—	0% of 6 sessions	Not participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome

POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Low structural sample

Only 2 completed episodes across 6 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support10 daysHow often the cohort identity was observed

Completed episodes2Separate periods of broad group activity

Active sessions6Completed session observations, not trades

2026-07-07 → 2026-07-103 active sessionsNo name was active through every recorded session

2026-06-26 → 2026-07-023 active sessions8.3% composition consistency through the episode

MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS

LENZ66.7% · 2 episodes

ASMB50% · 2 episodes

MIRM50% · 2 episodes

RARE50% · 2 episodes

BIOA33.3% · 1 episode

CTMX33.3% · 2 episodes

MLYS33.3% · 2 episodes

TENX33.3% · 1 episode

JANX16.7% · 1 episode

MBX16.7% · 1 episode

STOK16.7% · 1 episode

VSTM16.7% · 1 episode

AMLX0% · 0 episodes

ARDX0% · 0 episodes

ARTV0% · 0 episodes

CBIO0% · 0 episodes

CRBP0% · 0 episodes

IMMX0% · 0 episodes

PCVX0% · 0 episodes

PTGX0% · 0 episodes

TECX0% · 0 episodes

UNCY0% · 0 episodes

VIR0% · 0 episodes

VKTX0% · 0 episodes