Molecule Trader

Understanding clinical trial phases and biotech investment risk

A guide to what Phase 1, Phase 2 and Phase 3 actually prove, why promising medicines fail, and how the results can change a company’s value

Oct 1 • Molecule Trader

4

1

September 2026

Biopharma October Catalyst Calendar

Target: 2026 October

Sep 29 • Molecule Trader

2

August 2026

When Wall Street Gets Biotech Wrong

Ten FDA decisions, ten very different share-price reactions, and what investors should look for before the next PDUFA date

Aug 6 • Molecule Trader

2

July 2026

MannKind

The July FDA Trade, the Real Cash Runway and What the Market May Be Missing

Jul 18 • Molecule Trader

3

4

1

Viking Therapeutics

The obesity biotech that now has to prove it can become a company

Jul 10 • Molecule Trader

3