Each morning the deterministic engine ranks the universe and an analyst model writes up the top setups; a separate red-team model then tries to disprove every claim. Only notes that survive with a publish or publish with caveats verdict appear here. Free readers see the headline and what happened; the full note is in the Pro digest.
VivoSim Labs received a Nasdaq notice on July 24, 2026, stating it failed to maintain the $2.5 million minimum stockholders' equity requirement under Listing Rule 5550(b)(1), based on its March 31, 2026 fiscal year-end equity deficit of $(1.1) million. The company must submit a compliance plan by September 3, 2026, and may receive up to 180 days (until January 16, 2027) to cure. Despite closing a $4 million PIPE on July 17, 2026, and receiving a $5 million milestone payment from Eli Lilly in July 2026 (both post-balance-sheet events), the June 30, 2026 balance sheet still showed negative equity of $(2.3) million and cash of $1.67 million against a $10.8 million annual burn rate.
On August 12–14, 2026, Outlook Therapeutics (OTLK) completed a $55.0 million public offering at $0.99 per share-plus-warrant unit (55,555,556 shares) for net proceeds of ~$51.1 million. The offering closed shortly after the July 24, 2026 FDA approval of LYTENAVA for wet AMD. As of June 30, 2026, the company had $11.2 million cash (unaudited), implying roughly 2 months of runway on annualized Q2 burn of ~$45.9 million per year. In connection with the offering, the company terminated its ATM facility (effective August 10, 2026), issued warrants to purchase 55,555,556 shares at $1.10 (5-year expiry), and saw a 46% share count jump from 83.1 million (February 13, 2026) to 120.9 million (May 12, 2026). Major shareholder GMS Ventures and insider Ghiath Sukhtian bought $2.6 million of stock in open-market purchases between July 29 and August 14, 2026.
On August 14, 2026, HCW Biologics filed an Item 4.02 non-reliance 8-K announcing that its Q1 2026 earnings-per-share calculation was materially misstated due to incorrect application of the two-class method for participating warrants; reported EPS of $2.19 overstated the correct figure by $0.80 per share (post-split basis). The company disclosed a material weakness in controls over technical accounting for complex warrant instruments. Concurrently, the company filed Q2 2026 results showing liquidity of $741,324 as of June 30, 2026—implying under one month of runway at current burn—and reported facing a Nasdaq hearings panel for listing deficiencies.
Cycurion (CYCU) closed an Aug. 3 warrant inducement transaction that generated $4.5M gross proceeds by inducing immediate exercise of Dec. 2025 warrants for 3.3M shares at $1.35/share (reduced from $3.62) – a 63% discount to the $3.62 original strike. As consideration, the company issued new unregistered warrants for 5.0M shares at $1.65 (150% coverage), exercisable only after shareholder approval, per the 8-K filed Aug. 3 and July 31 press release. The Q2 10-Q filed Aug. 14 shows $1.87M cash and $19.5M current liabilities as of June 30; with annualized burn of $12.5M, liquidity covered approximately 1.8 months at that date (now 47 days stale). Shares outstanding jumped 141% from 10.7M (June 5) to 25.8M (Aug. 10), and the company has a Nasdaq hearings panel scheduled for Aug. 20 related to the minimum bid deficiency per July 24 and Aug. 12 press releases.
BOXABL Inc. (formerly FG Merger II Corp.) closed its SPAC merger on July 17, 2026, converting from Nevada to Texas and issuing 246.5 million common shares plus 103.5 million preferred shares at a $3.5 billion valuation. On July 23, 2026, the company filed an 8-K (Item 3.01) disclosing receipt of a Nasdaq delisting notice and simultaneously disclosed an auditor change, officer departures, control changes, and material agreement terminations. Two separate Schedule 13D filings appeared July 24, 2026, indicating new activist holders crossing the 5% threshold. The company filed a $500 million S-3 shelf on July 27, 2026, which went effective August 10, 2026.