Investigation & Due Diligence.
Six services, one discipline: every claim tested against primary-source evidence. Research and due diligence — never investment, legal, or medical advice.
Clinical Trial Investigation
We investigate clinical trials using registries, published papers, conference presentations, FDA documents, and company disclosures — reconstructing what was planned, what changed, and what was actually found.
- ClinicalTrials.gov
- Published papers
- Conference presentations
- FDA documents
- Company disclosures
- Protocol changes
- Endpoint history
- Trial timelines
- Statistical results
Primary and secondary endpoints · statistical and clinical significance · sample size and power · missing data and patient selection.
Subgroup analyses · trial design changes · comparator selection · safety signals · dropout rates · endpoint switching · delayed disclosures.
Core test: differences between registered protocols and reported outcomes.
Biotech Claim Verification
Statements from investor decks, earnings calls, press releases, SEC filings, CEO interviews, and company websites are extracted verbatim and verified against independent evidence.
VERIFIED — claim fully consistent with primary-source evidence.
PARTIALLY SUPPORTED — some elements supported; material caveats omitted from the claim.
EXAGGERATED — promotional language materially overstates the underlying evidence.
UNVERIFIED — insufficient independent evidence to confirm or refute.
RED FLAG — documented inconsistency between claim and evidence requiring further verification.
Business Plan Reality Check
We test whether a biotech company's commercial story is realistically supported — or whether the market model rests on clinical evidence that does not yet exist.
- Clinical evidence
- Addressable patient population
- Competition
- Standard of care
- Regulatory pathway
- Pricing assumptions
- Reimbursement environment
- Manufacturing feasibility
- Intellectual property
- Patent life
- Clinical development timeline
A line-by-line assessment of the commercial thesis: which assumptions are evidence-based, which are speculative, and which contradict the public record.
Typical finding: peak-sales models built on indication expansions that the clinical program has never tested.
Biotech Red Flag Reports
Detailed investigative reports highlighting discrepancies and risks — organized so that counsel, investors, and journalists can act on each finding independently.
- Clinical Red Flags
- Statistical Red Flags
- Regulatory Red Flags
- Management Red Flags
- Commercial Red Flags
- Disclosure Red Flags
Each red flag is stated in careful language — unsupported claim, material inconsistency, scientific red flag, commercial exaggeration, requires further verification, potentially misleading presentation — with a documentary citation.
We do not accuse companies of fraud absent documentary evidence clearly supporting that conclusion.
Investor Due Diligence
Custom research for investors evaluating a biotech company before committing capital — on the long side, the short side, or across the table in a negotiation.
- Before buying shares
- Before taking a short position
- Before participating in financing
- Before investing in private biotech
- Before entering a licensing deal
Scoped research memo or full forensic report, source appendix included. Available as one-time engagements or ongoing monitoring of a coverage list.
Litigation & Legal Research Support
Scientific and biotech research support for law firms — evidence organization, scientific literature review, and analysis of clinical and disclosure records.
- Securities litigation
- False or misleading statements
- Clinical trial disputes
- Biotechnology disputes
- Pharmaceutical litigation
- Expert research support
We work under counsel's direction, on privilege where applicable, with documented chains of source custody suitable for litigation use.
Scope an Investigation
Tell us the company, the claim, and the timeline. We respond with a proposed scope and evidence plan.