Why I am writing

I am Jason Yang, a student exploring the intersection of neuroscience, biotechnology and business. This project builds industry knowledge through sustained research on two companies. Each article is a working draft to review and refine as I learn.

What gets tracked

  1. Stage — completed milestones, not only targets.
  2. Evidence — size, speed, durability, safety and trial limitations.
  3. Delivery — total clinic time, people and resources.
  4. Cash — dated balances and separately labeled runway guidance.
  5. Financing — proceeds, fees and potential dilution.

Facts, expectations and interpretation

Reported evidence comes from dated company disclosures or peer-reviewed studies. Company expectations are explicitly described as forecasts. My interpretation connects that evidence to questions about development and business; it is not attributed to a source as a proven result. Statistical calculations are labeled as my calculations.

A repeatable quarterly update

After each quarterly report, I will record the new milestone, trial result, cash balance and financing. Then I will explain one change that matters and one question still unanswered. Material errors will be corrected with a dated note. The first issue is a baseline, not a history of updates that have already happened.

The next questions

  • Compass: Is the final NDA complete, and what delivery requirements emerge?
  • GH: Has pivotal Phase 3 actually started, with what design?
  • Both: How do cash usage and new shares change the financial picture?

Scope

This journal is educational student research, focused on CNS drug development. It is not a treatment recommendation or a recommendation to buy or sell securities. References remain plain text to keep the reading experience simple.