What this is, and what it is not

Biodatica is a bona fide publication. Everything we produce is impersonal, generally available, and identical for every subscriber on the same tier. Two funds paying for the same seat see the same feed, the same scores and the same written briefs on the same day. Nothing is tailored to anyone’s portfolio, mandate, risk tolerance or circumstances, and we do not want to know what any of those are.

We do not tell you to buy or sell anything. There is no rating, no target, no recommendation, and no “top pick” anywhere in the product. Momentum ranks companies by how much has recently happened in their public filings. It is not a score of whether a company is a good investment, and a high number is not a call.

This posture is what keeps Biodatica inside the publisher’s exclusion from the Investment Advisers Act, and we intend to stay inside it. If we ever cannot describe something we ship as impersonal and generally available, we will not ship it.

• ✓No issuer money. We take no payment, equity, or consideration of any kind from a company we cover, or from anyone acting for one. Coverage cannot be bought, and a company cannot pay to be removed, re-scored, or re-ranked. A company can tell us a fact is wrong, and we will check it against the filing.
• ✓We do not trade the names. Biodatica and the people who run it do not take positions in the companies in this graph, or in their public acquirers or partners on the basis of what the graph shows.
• ✓Subscribers get no private tier of truth. A larger seat sees more rows, more areas and more delivery channels. It does not see different facts, earlier facts, or better scores.

Runway is an estimate. It is the last disclosed raise minus a burn rate we model from stage and therapeutic area. No company tells us its burn. It is not a disclosure, it is frequently wrong, and companies routinely hold non-dilutive money we cannot see. It is labeled an estimate everywhere it appears, and where we have nothing to model from it renders “—” rather than a zero.

Momentum is a formula, not a judgment. It is fully specified on the methodology page and you can reproduce it. The weights are set by our judgment and will be retuned as the graph accrues history.

The “why now” brief is machine-written. Each dossier brief is generated by a language model from that company’s event stream, published identically to every subscriber, and labeled as generated commentary with the date it was written. It can be wrong or out of date. The filings underneath it are the record, and they are all linked.

The crosswalk is a judgment. Deciding that a grant, an entity, a trial and a patent describe one company is inference, not lookup. Every link stores its method and its confidence, and every dossier shows you that record so you can disagree with it. Wrong merges and missed merges both happen. The full account of what these numbers do not know.

Every fact in Biodatica comes from one of six U.S. government datasets: NIH RePORTER, ClinicalTrials.gov, SEC EDGAR, USPTO, openFDA and SBIR.gov. Works prepared by U.S. government officers in the course of their official duties carry no U.S. copyright (17 U.S.C. § 105).

We exclude the two proprietary datasets embedded in otherwise-open government data: D&B and DUNS fields from USAspending, and GMDN device nomenclature from openFDA. We do not ingest Crunchbase, PitchBook, or scraped LinkedIn.

Trial data is courtesy of the U.S. National Library of Medicine. openFDA data is CC0. No agency named in this product endorses or has reviewed it. Full source list and attributions.

These services are paid for by taxpayers. We pace NIH RePORTER to one request per second and SEC EDGAR to ten, we identify ourselves to EDGAR with a descriptive User-Agent and a contact address, and every pull is incremental against a stored watermark rather than a re-crawl. A source that rate-limits or errors backs off, and the coverage page reports the skip.

Biodatica is about companies and science. The only individuals named are principal investigators, founders and executives, and their names appear only because a public federal filing put them there in a professional capacity. We do not build profiles of consumers, we do not buy or sell personal data, and we do not enrich these records from any private source.

If you are named in the product because of a filing and something is inaccurate, write to signal@biodatica.com and we will check it against the source.

Biodatica is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not a substitute for your own diligence. The graph contains errors right now, today: some from the sources, some from our resolution, some from the models. Verify anything you are going to act on against the filing we link to, which is why we link to it.