Nichols Weston

10% owner Lynx1 Capital buys 50,055 shares of PASG at $4.12; 5 prior buys at this ticker all well-timed at 90d mark.

Lynx1 Capital Management LP purchased 50,055 shares at $4.12, increasing holdings from 623,704 to 673,759 shares (+8.0%). The company remains unprofitable with net income of $-7,559,000.00, yet this marks the insider's sixth open-market buy at PASG within a compressed timeframe. All 5 prior purchases at this ticker were well-timed at the 90-day mark, with returns ranging from +40.1% to +52.8%, demonstrating consistent pattern recognition in entry timing at this specific security. Current price of $4.85 has declined -75.8% from the 52-week high of $20.00, positioning this purchase 38.2% below the 90-day average, which contrasts sharply with the insider's demonstrated ability to exit prior purchases ahead of significant rallies.

10% owner Lynx1 Capital bought 520 shares at $10.60 (worth $5,512), bringing holdings to 1,538,296 shares.

Lynx1 Capital Management LP, already a 10% shareholder, purchased 520 additional shares of Korro Bio at $10.60 on 2026-03-31, representing a modest addition of 0.0% to its existing 1.54M share position. The company is deeply unprofitable (full-year net income of $-18.1M) despite strong revenue growth of 181.5% year-over-year; current quarterly revenue is only $1.1M. The purchase price of $10.60 sits well below the current market price of $14.00, meaning the position has moved 31.6% favorably since the transaction, and notably this occurs within the 30-day window where KRRO stock gained 30.2%. Against Lynx1's cross-ticker buy track record (20 prior open-market purchases with 55.56% 90-day win rate and average 90-day return of 8.3%), this transaction is minimal in size and insufficient alone to signal material conviction in the turnaround.

Lynx1 Capital (10% owner) buys 161,801 shares at $0.90 across 3 trades, adding 2.1% to holdings amid -50.5% quarterly decline.

Lynx1 Capital Management LP, holding 8.02M shares post-transaction, executed 3 separate purchases totaling 161,801 shares for $145,525.96 at a blended average price of $0.90 between December 19–23, 2025. The stock is currently trading at $0.91, down 70.7% from its 52-week high of $3.11 and down 50.5% over the past 90 days. The company reported severely distressed fundamentals: $2.5M quarterly revenue, -$35.7M net loss, -86.6% annual revenue decline, and a $21.8M market capitalization, indicating significant operating stress. Lynx1's prior trades at TCRX show mixed results—two 2025 spring purchases posted positive 90-day returns (+49.2%, +50.0%), while two late-2024 purchases posted steep 90-day losses (-38.3%, -40.1%)—suggesting uncertain timing accuracy at this ticker. The current purchase occurs after a severe recent drawdown, but without scheduled trading plan disclosure or other context, the motivation remains opaque.

Lynx1 Capital bought 165,667 CGEM shares at $8.40 on 2025-10-28; now down 56.2% from 52-week high at $7.56 current price.

Lynx1 Capital, a 10% owner, purchased 165,667 shares at $8.40 on 2025-10-28, bringing total holdings to 8.96M shares. This represents a continuation of sustained buying activity—the insider executed 5 separate purchases at this ticker between 2025-10-10 and 2025-10-28, with outcomes not yet measurable. The stock is currently trading at $7.56, down 56.2% from its 52-week high of $17.27 and off 1.4% over the 90-day period. The company posted zero quarterly revenue, a $-70.1M net loss for the full year, and 100% annual revenue decline, signaling a pre-commercial or severely distressed business model. The repeated accumulation by a major shareholder during a period of steep valuation decline and operational deterioration suggests continued conviction despite fundamental headwinds, though the stock's sharp withdrawal from recent highs and the lack of measurable outcomes from same-ticker trades warrant close observation of both company execution and market sentiment shifts.

10% owner Lynx1 Capital buys 639,110 shares at $5.14; stock now $4.05, down 63.3% in 30 days

Lynx1 Capital Management LP, already a 10% shareholder, purchased 639,110 shares at $5.14 on 2025-10-21, expanding holdings by 270.6% from 236,218 to 875,328 shares and committing $3,283,108.07 to the position. The purchase occurred during a severe downturn: the stock has since fallen 63.3% over the past 30 days and currently trades at $4.05, down 79.8% from its 52-week high of $20.00. While Lynx1's cross-ticker track record shows 20 prior buys with an 80.00% 90-day win rate and average 90-day return of +410.7%, those gains occurred at other stocks—this purchase at Neuphoria comes amid significant price deterioration and a company that reported full-year net income in the negative, despite a recent profitable quarter showing $15.0M revenue and $11.3M net income. The tension between the insider's established buy discipline across its portfolio and the sharply adverse price movement post-transaction warrants examination of whether fundamental developments precipitated the recent decline.

Lynx1 Capital (10% owner) bought 248,749 shares at avg $8.46 over 4 days; stock at $8.48, down 51.8% from 52-week high.

Lynx1 Capital executed 4 separate purchases totaling 248,749 shares for $2,103,912.00 between 2025-10-14 and 2025-10-17, with a blended average price of $8.46. The current stock price of $8.48 sits near the transaction price but represents a significant 51.8% decline from the 52-week high of $17.61, and the company's fundamentals remain deeply challenged: zero revenue in the latest quarter and negative $70,055,000.00 net income. Lynx1 has established a three-transaction pattern at CGEM within the prior week (buys on 2025-10-08, 2025-10-09, and 2025-10-10), suggesting sustained accumulation, though measurable outcomes from those earlier trades remain unavailable. The insider's cross-ticker track record shows strong historical returns (avg 30d return +550.5%, 90d return +526.6% with a 72.73% win rate), but this indicator cannot be projected onto the current CGEM transaction given the company's unprofitability, near-zero revenue, and negative annual revenue growth of -100.0%.

Lynx1 Capital (10% owner) bought 1,459,641 shares across 3 days (Oct 8–10) for $9.8M at blended avg $6.73, raising stake to 8.55M shares.

Lynx1 Capital Management LP, a significant 10% shareholder, executed 3 separate purchases totaling 1,459,641 shares for $9,826,941.41 at a blended average price of $6.73 between October 8–10, 2025, increasing its post-transaction holdings to 8,549,084 shares (8.55M shares) from 7,089,443 shares—a 20.6% increase in its stake. The purchases were made despite the company's severe financial distress: latest-quarter revenue is $0.00 and the company posted a $-70,055,000.00 net loss with -100.0% annual revenue growth, making it unprofitable. The current price of $7.40 sits -58.0% below the 52-week high of $17.61, with the stock up 14.4% over the prior 30 days. The insider's cross-ticker track record shows an average 90-day return of +638.2% and a 90d win rate of 66.67%, but this data reflects outcomes across multiple tickers and does not establish predictive accuracy for Cullinan Therapeutics specifically.

10% owner Lynx1 Capital buys 32,008 shares at $6.99 blended avg across 3 purchases Sept 11–15.

Lynx1 Capital Management LP, holding 623.7K shares post-transaction (a 5.4% increase from prior holdings of 591.7K shares), executed 3 separate purchases totaling 32,008 shares for $223,734.69 at a blended average price of $6.99 on September 11, 12, and 15, 2025. At the time of purchase, the stock was trading near this price level and currently sits at $6.95, only 0.6% below the blended transaction price—indicating the purchases were not at a valuation extreme. Lynx1's historical track record at PASG shows strong outcomes: 2 of 2 prior buys with measurable 90-day results yielded +1778.8% and +1858.0% returns, and the 3 most recent July purchases showed 30-day returns of +32.0%, +31.3%, and +36.1%. However, the company's fundamentals are materially weak—net income of $-9,385,000.00 and a market cap of only $22,092,034.50—rendering the firm unprofitable at the full-year level and raising questions about the sustainability of prior outsized gains.

10% owner Lynx1 Capital bought 128,848 shares across 3 days ($733.8K) at $5.70 avg, extending holding to 591.7K post-transaction.

Lynx1 Capital Management LP, a 10% shareholder, executed 3 separate purchases totaling 128,848 shares for $733,825.53 between July 22–24, 2025, expanding its position by 27.8%. This significant expansion occurs while the stock trades 74.6% below its 52-week high of $22.60 and down 18.5% over the prior 30 days, amid a backdrop of trailing-twelve-month net income of $-15,405,000 (unprofitable). Notably, across Lynx1's 4 prior trades at PASG (all buys in Nov–Dec 2024), all exhibited positive 90-day returns ranging from +1181.0% to +1760.7%, indicating a consistent pattern of well-timed entry points at this specific ticker. The current filing represents a material accumulation that warrants monitoring given both the insider's track record at this ticker and the company's ongoing unprofitability.

Lynx1 Capital (10% owner) purchases 2,588,794 shares at $1.20, raising stake 48.3% to 7.95M shares amid steep stock decline

Lynx1 Capital executed 2 separate purchases totaling 2,588,794 shares for $3,106,552.80 at a blended average price of $1.20, increasing holdings by 48.3% from 5.36M to 7.95M shares. The current price of $1.32 is 86.1% below the 52-week high of $9.51, and the stock has declined 39.7% over the past 90 days. This buying follows a troubling pattern at TCRX: Lynx1's prior 3 purchases at this ticker (on 2024-11-15, 2024-12-12, and 2024-12-13) all resulted in negative 90-day returns ranging from -38.3% to -53.0%, with 0 of 3 well-timed at the 90-day mark. The company's fundamentals show severe deterioration—annual revenue declined 86.6%, with latest quarterly revenue of $2.2M against a net loss of $34.1M and a market cap of $31.6M. While Lynx1's cross-ticker track record shows a 57.14% win rate over 90 days, the consistent underperformance of its TCRX-specific purchases and the company's collapsing revenue trajectory present material headwinds that differ markedly from the insider's broader portfolio success.