# Sample Catalyst Board — 2026-08-05 (educational)

**How to read permissions**
- `blocked` — do not buy (Recipe D/E or hard fail)
- `research_only` — real object, missing window/EV/OI/day-pin
- `watch` — close; need one more confirm
- `ready` — full gate stack clear (rare)

This is a **teaching snapshot**, not a live alert service and not a recommendation to buy/sell.
Dated for the Aug 5 session so the board shows how permissions age overnight.

| Symbol | Conf | Permission | Fact / window | Why |
|--------|------|------------|---------------|-----|
| MRNA | 40 | **blocked** (stub-capital OTM) | PDUFA target ~Aug 5 mRNA-1010 flu vax | Large-cap headline magnet. Day-of OTM lottery = fail. Log date; no chase. Not a short call either. |
| REPL | 60 | research_only | AdCom 10-3; PDUFA target passed; still no decision PR | Any-day overhang. **Never first spike** on decision headline. Window B only after structure + fact object. |
| ZYME | 58 | research_only | PDUFA ~Aug 25 priority | Coil path only if multi-day call OI + quiet tape; no pre-hype size |
| RARE | 56 | research_only | DTX401 PDUFA ~Aug 23 | Pre-event calendar; pass if already extended into the print |
| TENX | 52 | research_only | Ph3 LEVEL Aug-month | Still needs **exact day pin** + dilution clear before anything but watch |
| RCKT | 48 | research_only / park | Aug 3 safety PR path; next catalyst 2H26 | Post-headline. Far calendar = not a sprint name |
| OMER | 50 | research_only | CMS NTAP commercial-access story | Not a near binary; treat as slow tape, not lotto |
| CAPR | 22 | **blocked** | AdCom against; PDUFA still on calendar | **Recipe D bounce reject** — headline damage already priced |
| LNTH | — | park | PDUFA ~Aug 13 | Mid imaging; weak explosive fit for stub capital |
| CRMD | — | watch / equity-style | ReSPECT Ph3 + sNDA path 2H26 | Better as **shares** than short-dated OTM on tiny accounts |

## Overnight permission changes (teaching)
- **MRNA added as blocked for stub OTM** into PDUFA target day — correct empty `ready`.
- Nothing moved to `ready` — correct. Empty ready > fake conviction.
- CAPR stays blocked even if a bounce prints (Recipe D).
- REPL conf slightly down without new primary fact — conf is not a trade.

## Calendar cluster (next sessions)
- **MRNA — ~Aug 5 PDUFA target (blocked stub OTM)**
- REPL — any-day FDA overhang (decision PR)
- LNTH — ~Aug 13
- CAPR — ~Aug 22 (blocked bounce)
- RARE — ~Aug 23
- ZYME — ~Aug 25
- TENX — late Aug if day pins

## What a “good” board does
1. Separates **calendar tourism** from **tradeable permission**
2. Writes reject reasons in public language
3. Prefers empty `ready` over fake conviction
4. Ages conf down when no new primary fact arrives
5. Treats mega-cap PDUFA days as **research calendar**, not lottery tickets

## Stub-capital note
If account < ~$250: prefer one equity with fact + invalidation over short-dated OTM options.
MRNA-style days are exactly when small accounts blow up chasing premium.

## Free tools
- Tonight’s rejects: /tonight-rejects.html
- Late-chase checker: /late-chase-check.html
- Recipe D reject card: /reject-card.html
- Printable checklist: /free-checklist.html