The Index
400 dossiers · 1 need attention
A research screener for every company we cover. Search a name or ticker, then sort and triage dossiers by coverage freshness, our conviction and trading relevance.
No call30 names· avg TR 8 | ||||||||
| Not a stock anymore — a closed M&A. Lilly bought the whole company for $10.50/share cash (closed Jul 2025); the only live "position" is the $3.00 CVR, which pays only if VERVE-102 reaches a US Phase 3 dosing — market priced ~21% odds, a coin-flip dressed as a lottery ticket. | — | 8 | ||||||
| A rare profitable, debt-free genomic-dx compounder (FY25 16% rev growth, $126M FCF) — but the stock has doubled into a 6.5x-sales / ~30x-FCF valuation just as Natera's FDA-approved Signatera CDx occupies the exact MIBC beachhead TrueMRD is launching into. Quality business, priced for flawless MRD execution it has not yet proven. WATCHING; would buy a reimbursement/launch-driven pullback under ~$40. | — | 8 | ||||||
| A founder-led rare-disease engine with real ($673M) revenue and a pioneer at the helm — but it just lost its biggest pipeline bet (setrusumab) and is burning ~$466M/yr against ~$534M cash, so the entire equity now rides on two H2-2026 FDA approvals (UX111 Sep 19, DTX401 Aug 23) closing the gap to a promised 2027 profit. Binary, not compounding. | — | 8 | ||||||
| The toll-road of science — a fortress compounder you buy for the next decade, not the next quarter; at ~18x forward EPS it is as cheap as it has been in years precisely because organic growth is stuck at ~2% and the GAAP/adjusted gap is widening, so the bet is that PPI productivity + biopharma normalization + Clario/Olink revenue synergies re-accelerate organic to mid-single-digits before the multiple has to. | — | 8 | ||||||
| A clean-safety, single-asset Rett gene-therapy bet that just de-risked into a one-binary stock — H1'27 6-month pivotal interim + FDA BLA feedback is the entire thesis; an AveXis-grade operator and a competitor's patient death make the asymmetry real, but at a ~$1.8B cap on zero revenue the bear case is "single-trial, single-indication, dilution-funded." | — | 8 | ||||||
| A one-asset, binary bet on a genuinely best-in-class disease-modifying Dravet drug whose pivotal read-out (mid-2027) lands inside a fully-funded runway — own it for the read-out, but size it like the 50/50 single-trial event it is. | — | 8 | ||||||
| A cash-generative #2/#3 molecular-diagnostics toolmaker trading at a tools-sector discount (~15x fwd P/E, 4x EV/sales) because its single most profitable franchise — QuantiFERON, ~24% of sales — just lost its US-immigration-testing growth engine and cratered FY26 to +1-2% CER; the stock is a recovery/strategic-options call (it sits ~25% below the 2020 Thermo Fisher takeout it rejected, with two activists on the register), not a growth-compounder bet. | — | 8 | ||||||
| A David Liu-pedigreed prime-editing pioneer cornered into a defensive crouch — 25% RIF, founder-CEO out, lead CGD asset demoted to a partnering candidate, going-concern doubt at ~14 months of cash, and an existential Beam IP arbitration over one of its two surviving lead programs. At a ~$537M cap it is a deeply discounted binary call option on 2027 first-in-human liver data; bullish only for risk-seeking capital that can survive a dilution-or-bust 2026. | — | 8 | ||||||
| A long-read pure-play with improving razor-and-blade economics and a real cost roadmap, structurally outrun by Oxford Nanopore and pinned under $641M of out-of-the-money 2029/2030 converts it cannot grow into — a cash-discipline turnaround, not yet an investable one. | — | 8 | ||||||
| A real long-read/native-modification monopoly inside a structurally hard razor-and-blade model — but the market has stopped paying for "deep tech that takes 10 years"; down 73% from IPO, near 52-week lows, it is a show-me story where 2027 EBITDA breakeven (twice-pushed) is the entire thesis, and the new ex-Danaher CEO either professionalizes the commercial engine or the optionality stays un-priced. | — | 8 | ||||||
| A category-defining MRD franchise compounding ~35-40% with newly-positive FCF, but priced at ~13x sales for a still-GAAP-unprofitable company whose reported losses are masked only by $350M+/yr of stock dilution and a litigation rap-sheet (a $292.5M Guardant verdict on appeal) that the multiple ignores. | — | 8 | ||||||
| A real mRNA platform priced like an oncology winner before the oncology has won — the +94% YTD melt-up has run past a still-burning, policy-exposed vaccine business with a $1.3B IP tail. | — | 8 | ||||||
M MeiraGTxcatalyst in 44d | A de-risked gene-therapy platform hiding inside a $0.85B shell — bota-vec reacquisition + Lilly/Hologen non-dilutive funding gives MeiraGTx three near-term shots (xerostomia BTD, XLRP filing, riboswitch-GLP1 optionality) the market is pricing as one coin-flip; the bet is on execution-to-launch, not science. | — | ||||||
| A genuinely profitable, self-funded in-vivo gene-therapy platform whose entire growth narrative now rests on ex-US VYJUVEK launches (US is flat) plus an unhedged binary KB707/NSCLC option — priced at ~23x sales as if both already work. | — | 8 | ||||||
| A real RNA-medicine platform finally turning into a P&L — but the stock is a pelacarsen option with seven launches as the floor. Own the platform, size for the binary. | — | 8 | ||||||
| A de-risked HAE asset (lonvo-z, 87% attack cut, BLA filing) wrapped in a financing-and-competition problem — the cure is real, the question is whether anyone buys a one-shot in a market with 11 approved drugs, and whether a $1.9B-cap, 38%-shorted clinical-stage burner reaches launch without another dilutive raise. | — | 8 | ||||||
| A real operational turnaround is underway (rev re-accelerating, margins expanding, share count shrinking), but the stock has already sprinted past consensus into a Roche-Axelios competitive collision and a 40%-NIH-cut research recession — the easy money in the recovery is made. | — | 8 | ||||||
| A profitable liquid-biopsy oncology franchise quietly cross-subsidising a binary, USPSTF-gated bet on blood-based cancer screening — the re-rating from $52 to $130 already paid for the Shield optionality, so from here you are paying ~11x sales to be long a single 2026 guideline decision. | — | 8 | ||||||
| A debt-free diagnostics lab trading at ~cash with a real, free oncology call option (FID-007) — but you are paid to wait through a 2026 revenue air-pocket and an unquantified HRSA/DOJ False-Claims tail larger than the market cap. | — | 8 | ||||||
| A foundational-CRISPR IP estate wrapped around a single, late-arriving preclinical asset (EDIT-401) — a binary 2026-2027 LDLR bet that is years behind Lilly/Verve, now fully funded into 2027+ by a May 2026 raise that diluted holders ~25%; the moat is real, the pipeline is not yet. | — | 8 | ||||||
| The only commercial CRISPR company is a Vertex-controlled 40% royalty stub bolted to a self-funded in-vivo pipeline — own it for CTX310/zugo-cel optionality, not for Casgevy, whose cell-collection bottleneck caps the near-term cash story. | — | 8 | ||||||
| An $44M-EV option on allogeneic CAR-T — the market prices the pipeline at zero while the durability data quietly de-risked; the bet is binary on ANTLER-3 financing, not on the science. | — | 8 | ||||||
| "Real, accelerating transplant-dx franchise that just turned GAAP-profitable and is reshaping itself (sell low-margin kits, buy oncology MRD) — but ~46% of its core segment still rides on a single Medicare LCD that CMS has confirmed it will re-issue; a quality compounder priced for the good case with a binary policy fuse attached. WATCHING, leaning constructive, gated on the new LCD." | — | 8 | ||||||
| A €17bn cash fortress wrapped around a melting COVID annuity and one make-or-break fast-follower oncology bet (pumitamig) — the founders just announced they're walking out the door, and the market still pays a premium for a pipeline that is, so far, the second-best PD-(L)1×VEGF in the world. | — | 8 | ||||||
| The base-editing platform with the cleanest in-vivo clinical proof-of-concept yet (BEAM-302 corrected a disease-causing mutation in living patients) and a near-term commercial shot (risto-cel BLA by YE26) — a genuine BULLISH-but-binary genomics name where the science de-risked faster than the commercial model. | — | 0 | ||||||
| A platform-validated RNAi engine the Street prices as a partnering machine, not a commercial one — the entire bull case is whether plozasiran's sHTG sNDA (YE2026) turns a $15.2B milestone option-stack into owned product P&L before the 15% PIK debt and serial dilution grind down the equity. | — | 8 | ||||||
| The first RNAi company to scale to profitability — Amvuttra's ATTR-CM launch turned a 20-year science project into a >$5B-revenue franchise inflecting at +71% guided; the bet is whether durable TTR leadership + a 40-program pipeline justify ~70x forward earnings before nucresiran fixes the Sanofi royalty drag. | — | 8 | ||||||
| A high-quality, recurring-revenue lab-tools compounder whose cyclical trough is over and whose margins are inflecting — but at ~20x forward EPS the recovery is already largely priced; the asymmetry is a beat-and-raise grind, not a re-rating. | — | 8 | ||||||
| A negative-EV ($-60M) clinical-stage AAV play where the market prices the entire pipeline below cash — fully funded into 2H 2028 with two binary Phase 3 wet-AMD readouts (4FRONT-1 1H'27, 4FRONT-2 2H'27) standing between it and either a re-rate or a wipeout; best-in-class intravitreal tolerability is the edge, durability-vs-Eylea-HD/faricimab is the kill switch. | — | 8 | ||||||
| A real consumables-led inflection (Q1 product rev +9%, 70% GM, FCF-positive) is fighting a settlement-inflated optical decline and a +73% YTD melt-up — the business is turning but the price already pays for the turn; WATCHING into the Atera-vs-installed-base cannibalization quarter. | — | 8 | ||||||