Put on your tinfoil hats and listen to the story of finding a glitch in the algorithms.
BCTX is a clinical-stage immuno-oncology company developing novel targeted cellular immunotherapies to transform cancer care. Recently that have been working on pipeline called Bria-IMT that has shown promising, yet questionable results. There are have several other pipelines in the works but this is the main and will be the focus here.
$BCTX has been known for opening offerings at each release of positive news as this pipeline has progressed. News of phase 2 results was released in January, the trials were fast tracked by the FDA and the stock moved from $7.80 to $11.80. A $30 million at $5.59. The stock has catered and has been trading in the $3.60-$4.60 range since then.
Phase 3 trials were expected to be released for H2 2026. Last week they released news of additional pipelines, additional positive news for increased interest in phase 3 trials, and non-dilutive grant for funding of phase 3 trials. They also released news of attending ASCO (American Society of Clinical Oncology) with news of phase 3 results.
Friday the stock tanked from $3.98 to $2.98.
Here is where the tinfoil hat portion comes in....
Also releasedast week were delayed EDGAR correspondence regarding dilution regarding the January 2026 offering.
With BCTX's history of dilution on positive news, algorithms picked up positive news and S-4 correspondence and received a heavy short attack without reviewing dates.
The stock normally see volume of 100k-200k shared traded per day. Thursday saw 285k shares traded but with FINRA reportednshort volume percentage of 86% with a small drop in share price. Friday saw 1.67 million shares traded with FINRA reported short volume of 76%
While share price collapsed two interesting institutions stepped in to buy the dip
Cable Car purchased 216k shares and Sabby Management purchased 74k shares. Both of these funds are known for investing in biotech.