product pipeline / R&D affecting expense
“These increases were partially offset by a reduction in paltusotine-related research and development expenses following the commercialization of PALSONIFY in the fourth quarter of 2025.”
CRNX 10-Q
Confirmed
Biotech Rare Diseases
5 names are moving together; 60% are participating in the current session.
3 observed daily builds
Co-movement
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Members
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| ADMA | ADMA Biologics Inc | Healthcare | -2.5% | Group member |
| KNSA | Kiniksa Pharmaceuticals Interna | Healthcare | -4.9% | Group member |
| TARS | Tarsus Pharmaceuticals, Inc. | Healthcare | -0.9% | Group member |
| MDGL | Madrigal Pharmaceuticals, Inc. | Healthcare | -5.0% | Group member |
| CRNX | Crinetics Pharmaceuticals, Inc. | Healthcare | -0.1% | Most structurally connected |
Why we believe this
Cohort
5 namesParticipation
60% this sessionObserved history
3 daily buildsFiling coverage
5/5 memberscredit / rates affecting expense
“Loss on Extinguishment of Debt As a result of the repayment of all obligations outstanding under the Ares Credit Facility (as defined in Liquidity and Capital Resources below), we have incurred prepayment penalties and wrote off the remaining unamortized debt issuance costs and discount associated with that facility, which resulted in recognition of debt extinguishment losses of $2.2 million during the three months ended September 30, 2025.”
ADMA 10-Q
credit / rates affecting interest expense
“Interest Expense Interest expense for the three months ended March 31, 2026 was $2.1 million, as compared to $2.0 million for the three months ended March 31, 2025, driven by the higher average debt balances in 2026, partially offset by lower interest rates.”
ADMA 10-Q
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Connected, outside the group
REGN
KNSAsupplier · Moving with the group now · 115 min observed
Filing receipt · REGN / KNSA
“Pursuant to the Regeneron Agreement, we have entered into a supply agreement with Regeneron to purchase both clinical and commercial product.”
KNSA · supplier
PFE
MDGLpartner · Not moving with the group now
Filing receipt · PFE / MDGL
“Key Developments In January 2026, we announced the expansion of our pipeline with an exclusive global license with Pfizer Inc.”
MDGL · partner
HTGC
ADMAinvestee · Not moving with the group now
Filing receipt · HTGC / ADMA
“Our gains were offset by gross realized losses of $3.3 million and $15.0 million, respectively, for the three and nine month periods, from the write-off of equity and wa…”
ADMA · investee
ELAN
TARSsupplier · Not moving with the group now
Filing receipt · ELAN / TARS
“For example, we source our API for XDEMVY, lotilaner, from Elanco, who sources through a single source supplier.”
TARS · supplier
CORT
KNSAtext peer · Not moving with the group now
No filing excerpt is available for this relationship.
History
2026-07-315 names in the durable cohort
2026-07-292 names in the durable cohort
2026-07-282 names in the durable cohort