DNA
Ginkgo Bioworks Holdings, Inc.
stock NYSE

It's not much before that era that the entire combined computing power on earth was less than what you hold in your hand right now. Imagine if the same thing is true in another 30 years.
Think what happens when AI understands DNA like a programming language and we can print any living thing imaginable. Think what the world is going to look like then.

Hey guys, if you missed it, Ginkgo Bioworks recently agreed to settle $17.75M with investors over the Scorpion Capital report and reliance on related parties for revenue. Since they’re still accepting late claims for a few more weeks, I decided to share them with you with a little FAQ.
Long story short, in 2021, Scorpion Capital published a report on Ginkgo Bioworks, calling Ginkgo one of the worst frauds in the last 20 years. Following this news, $DNA drastically fell, and Ginkgo faced a lawsuit from investors.
The good news is that Ginkgo recently settled with investors, and they’re still accepting late claims.
So here is a little FAQ for this settlement:
Q. Who can claim this settlement?
A. All persons or entities who:
I. Purchased shares in Ginkgo, including by way of exchange SRNG shares, pursuant or traceable to the Proxy/Registration Statement
II. Were solicited to approve the Ginkgo Bioworks, Inc.- SRNG merger and to retain rather than redeem SRNG shares
III. Purchased in a public offering or on public markets securities of Ginkgo (including its predecessor SRNG) between May 11, 2021, and October 5, 2021, both dates inclusive.
Q. Do I need to sell/lose my shares to get this settlement?
A. No, if you have purchased the shares during the class period, you are eligible to participate.
Q. How much will my payment be?
A. The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.1 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.4 per share.
Q. How long does the payout process take?
A. It typically takes 4 to 9 months after the claim deadline for payouts to be processed, depending on the court and settlement administration.
You can check if you are eligible and file a claim here: [https://11th.com/cases/ginkgo-bioworks-investor-settlement](https://11th.com/cases/ginkgo-bioworks-investor-settlement)

I have other winners. OKLO, RKLB, NVDA and LMND have done very well for me so far. DNA and WOLF… not so much haha. Here’s to hoping CLOV joins the first group!

Because of the dollar per token not being viable with current computation methods.
"Everyone is being hyped that this will solve world hunger, it will solve everything!!!"
Yet, people are getting laid off, artists are forced to become factory workers even more instead of getting room to be creatives, it's using a significant portion of our drinking water, it's using a lot of electricity, it largely produces mediocrity unless you provide it with just the right context.
(which means anyone working on systems and programs is becoming a somewhat meta-cognitive engineer, aka \[cognitive\] context engineer. Tell the lesser but faster simulated consciousness what to do)
I see it being very viable in the fields of research and development.
Finding new ways of discovering DNA and RNA sequences, unfolding proteins etc..
But otherwise?
It's a potential helpful learning tool, or a tool that will make you stop using your brain.
People are already losing competency in writing emails.
Software developers already noticed a drop in the sharpness of their technical skills.
We ought not to become reliant on these tools for thinking and producing.

We ought to use these tools as they are best used for the human psyche:
As a learning aid. As a perception expander.
As a better translation tool than google translate.
As a summarized note maker of meetings (its really good at that).
And as the concept these "AI" LLMs came from: Machine Learning.
The only thing we should stay aware of with Machine Learning is its limitations.
It's only as good as the data you feed it.
It can make mistakes, we need to check.
If we only used it for the purposes it would be humanly best for: it is not a commercially viable operation.

HURA -7.81%↓ is a biotech, registered offering machine (aka a phase III immunio-oncology company), down 37.5% YTD as I’m writing this. It’s down about 99.87% on the five-year chart, seemingly down from an ATH of $4,340 to around $2.5-3. Believe it or not, it couldn’t be a better time to buy. I’m in for about 3K+ shares between my two accounts, a sizeable chunk of my entire portfolio (well over half, though I have been scalping and rebuying here and there).
What Initially Interested Me In HURA - Congressional Purchases
On May 6, 2024, there was a headline about Rep. Laurel M. Lee (R-FL) purchasing between $100K-200K of convertible promissory notes in thHura Biosciences. That’s a big chunk of cash, especially for that to dip about 30%+ since the purchase. Since then, Rep. Lee and her husband, former Florida Congressman Tom Lee, purchased $1K-15K respectively in November of 2024. Must have been a coincidence— it couldn’t be insider trading.
But wait, it gets better. Rep. Laurel M. Lee is a member of the House Appropriations Committee and has a history of voting on amendments that affect FDA funding, salary limits, and regulations. So, we know Rep. Lee works closely with people on the FDA, and we can assume, especially in her district. Guess where HURA -7.81%↓ is based? That’s right, Tampa, Florida located neatly within Rep. Lee’s 15th Congressional District of Florida. Just a weird coincidence, I guess. I’m certainly not making accusations.
Okay, Cool Lawmakers Buy, But What Is It? What Are the Catalysts?
There is one primary catalyst I’m looking at, it’s the phase 3 iFx-2.0. iFx is an intratumoral plasmid DNA (pDNA) vaccine engineered to (as I understand it) convert tumor cells (or the expression of tumor cells) to bacterial proteins (Emm55), which primes the immune system, activating T and B cell responses and enhances checkpoint inhibitor responses. Honestly, I hardly know what any of that means, but the data speaks for itself. Phase 1b (p<20) showed 64-71% Objective Response Rate (ORR) with up to 80% in Merkel cell carcinoma patients (MCC, their primary target patient). Responses have also been durable, lasting between 19-33+ months. Very good results, however, it was a small trial. Since then, iFx has received accelerated phase 3 SPA approval from the FDA based on the high ORR and positive data. Huh, I wonder if Rep. Lee pulled some strings (kidding of course).
They also have another catalyst that I’m less interested in but is worth quickly mentioning to show HURA -7.81%↓‘s commitment to longevity. In 2025, HURA -7.81%↓ purchased Kineta Inc., a clinical-stage biotech based in Seattle. Kineta was producing KVA12123, a novel VISTA-blocking monoclonal antibody that’s in phase 1/2 trials. ThHura is trying to leverage Kineta’s research to produce a drug for Acute Myeloid Leukemia, showing that iFx isn’t just going to be a one-off— there are other positive catalysts on the horizon. The company has seemingly made a lot of changes and is on the right road to becoming a biotech powerhouse. But it’s still very, very early— one approval at a time.
What’s Up With The Price Though? It’s Down 99%+?
HURA -7.81%↓ has been rebranded/restructured from Morphogenesis in December 2023. When that happened, the shares went nuts, so it’s not really worth looking at before December 2023. Since then, there have been many registered offerings, which offer great entry points for scalps. However, I think it’s about time to buy and hold and I believe they will phase three approval before the end of 2025. Latest, mid-2026.
Price Targets for thHura
I don’t give much weight to price targets in general. However, HURA -7.81%↓ has shockingly high ones, so they’re worth mentioning. It’s not just me and Rep. Lee going insane in a vacuum. Zacks estimates $9.25-15, StockAnalysis says $11-$12, Investing.com estimates $9.25-15, and HC Wainwright (who’ve been especially vocal about their price target) expects HURA -7.81%↓ to hit $12-15. Again, analysts, bleh. But, that’s a shit ton of upside.
What’s my price target? Fuck you, I don’t know. Over $15 after approval. Maybe $50 a share. Sure, why not?
Do They Have Cash Though? What’s The Boring Stuff?
They do! They have $6.22 million in cash (net is about $6 million), $14.33 million in assets, and $4.78 million in liabilities. For a startup biotech that just acquired a company, that’s pretty damn good. They have a -$15.63 million cashflow (-.36 a share) and an EBITDA of -$19.96 million. Again, we’re talking about a biotech here, so eh, not the worst. They have a cash burn of $14.33 million for R&D and $5.73 million for G&A, leaving them about 1.2 years at this cash burn. That’s plenty of time for iFx to be released, to have another offering, or to cut down on R&D. I think their cash position is fine, especially for an early-stage biotech. I’m mostly here for the approval pump anyway, so I don’t really care too much. It shows that there will likely be another offering down the road though, so be watchful of that.
Thanks for Reading!
Hey, thanks for reading my DD on HURA -7.81%↓ ! This is my first long DD post and it was a lot of fun to write. This is not financial advice. It’s spiritual advice. Think twice before you roll the dice. Disclaimer disclaimed, this seems like a damn good buy, especially at these levels. Check out my substack if you enjoyed this. I’ll be coming out with one a week for free.

ChatGPT, Grok, Gemini are based on LLMs that fundamentally cannot have epistemic knowledge.
Epistemic knowledge refers to knowledge about knowledge.
Great, what does that mean?
In simple terms, that means they don't know what they don't know.
That's why you get hallucinations. It's not a bug, but a piece of its DNA.
Don't believe me?
Ask your favorite LLM.
Can you ever have epistemic knowledge?
Then ask it.
Does that mean you can't ever be a skilled value investor?
But a future LLM decades into the future must right?
AGI? Elon Musk said it would happen, so did Sam Altman - I just checked his X.
Well, sorry to disappoint you.
Epistemics has long been argued to be a unique feature of humans just before consciousness.
I'm not sure I am even qualified (or anyone really) to discuss whether epistemics / consciousness can be imbued into something other than a human, let alone a large neural network consisting of binary code.

It's not much before that era that the entire combined computing power on earth was less than what you hold in your hand right now. Imagine if the same thing is true in another 30 years.
Think what happens when AI understands DNA like a programming language and we can print any living thing imaginable. Think what the world is going to look like then.

Hey guys, if you missed it, Ginkgo Bioworks recently agreed to settle $17.75M with investors over the Scorpion Capital report and reliance on related parties for revenue. Since they’re still accepting late claims for a few more weeks, I decided to share them with you with a little FAQ.
Long story short, in 2021, Scorpion Capital published a report on Ginkgo Bioworks, calling Ginkgo one of the worst frauds in the last 20 years. Following this news, $DNA drastically fell, and Ginkgo faced a lawsuit from investors.
The good news is that Ginkgo recently settled with investors, and they’re still accepting late claims.
So here is a little FAQ for this settlement:
Q. Who can claim this settlement?
A. All persons or entities who:
I. Purchased shares in Ginkgo, including by way of exchange SRNG shares, pursuant or traceable to the Proxy/Registration Statement
II. Were solicited to approve the Ginkgo Bioworks, Inc.- SRNG merger and to retain rather than redeem SRNG shares
III. Purchased in a public offering or on public markets securities of Ginkgo (including its predecessor SRNG) between May 11, 2021, and October 5, 2021, both dates inclusive.
Q. Do I need to sell/lose my shares to get this settlement?
A. No, if you have purchased the shares during the class period, you are eligible to participate.
Q. How much will my payment be?
A. The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.1 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.4 per share.
Q. How long does the payout process take?
A. It typically takes 4 to 9 months after the claim deadline for payouts to be processed, depending on the court and settlement administration.
You can check if you are eligible and file a claim here: [https://11th.com/cases/ginkgo-bioworks-investor-settlement](https://11th.com/cases/ginkgo-bioworks-investor-settlement)

I have other winners. OKLO, RKLB, NVDA and LMND have done very well for me so far. DNA and WOLF… not so much haha. Here’s to hoping CLOV joins the first group!

Because of the dollar per token not being viable with current computation methods.
"Everyone is being hyped that this will solve world hunger, it will solve everything!!!"
Yet, people are getting laid off, artists are forced to become factory workers even more instead of getting room to be creatives, it's using a significant portion of our drinking water, it's using a lot of electricity, it largely produces mediocrity unless you provide it with just the right context.
(which means anyone working on systems and programs is becoming a somewhat meta-cognitive engineer, aka \[cognitive\] context engineer. Tell the lesser but faster simulated consciousness what to do)
I see it being very viable in the fields of research and development.
Finding new ways of discovering DNA and RNA sequences, unfolding proteins etc..
But otherwise?
It's a potential helpful learning tool, or a tool that will make you stop using your brain.
People are already losing competency in writing emails.
Software developers already noticed a drop in the sharpness of their technical skills.
We ought not to become reliant on these tools for thinking and producing.

We ought to use these tools as they are best used for the human psyche:
As a learning aid. As a perception expander.
As a better translation tool than google translate.
As a summarized note maker of meetings (its really good at that).
And as the concept these "AI" LLMs came from: Machine Learning.
The only thing we should stay aware of with Machine Learning is its limitations.
It's only as good as the data you feed it.
It can make mistakes, we need to check.
If we only used it for the purposes it would be humanly best for: it is not a commercially viable operation.

HURA -7.81%↓ is a biotech, registered offering machine (aka a phase III immunio-oncology company), down 37.5% YTD as I’m writing this. It’s down about 99.87% on the five-year chart, seemingly down from an ATH of $4,340 to around $2.5-3. Believe it or not, it couldn’t be a better time to buy. I’m in for about 3K+ shares between my two accounts, a sizeable chunk of my entire portfolio (well over half, though I have been scalping and rebuying here and there).
What Initially Interested Me In HURA - Congressional Purchases
On May 6, 2024, there was a headline about Rep. Laurel M. Lee (R-FL) purchasing between $100K-200K of convertible promissory notes in thHura Biosciences. That’s a big chunk of cash, especially for that to dip about 30%+ since the purchase. Since then, Rep. Lee and her husband, former Florida Congressman Tom Lee, purchased $1K-15K respectively in November of 2024. Must have been a coincidence— it couldn’t be insider trading.
But wait, it gets better. Rep. Laurel M. Lee is a member of the House Appropriations Committee and has a history of voting on amendments that affect FDA funding, salary limits, and regulations. So, we know Rep. Lee works closely with people on the FDA, and we can assume, especially in her district. Guess where HURA -7.81%↓ is based? That’s right, Tampa, Florida located neatly within Rep. Lee’s 15th Congressional District of Florida. Just a weird coincidence, I guess. I’m certainly not making accusations.
Okay, Cool Lawmakers Buy, But What Is It? What Are the Catalysts?
There is one primary catalyst I’m looking at, it’s the phase 3 iFx-2.0. iFx is an intratumoral plasmid DNA (pDNA) vaccine engineered to (as I understand it) convert tumor cells (or the expression of tumor cells) to bacterial proteins (Emm55), which primes the immune system, activating T and B cell responses and enhances checkpoint inhibitor responses. Honestly, I hardly know what any of that means, but the data speaks for itself. Phase 1b (p<20) showed 64-71% Objective Response Rate (ORR) with up to 80% in Merkel cell carcinoma patients (MCC, their primary target patient). Responses have also been durable, lasting between 19-33+ months. Very good results, however, it was a small trial. Since then, iFx has received accelerated phase 3 SPA approval from the FDA based on the high ORR and positive data. Huh, I wonder if Rep. Lee pulled some strings (kidding of course).
They also have another catalyst that I’m less interested in but is worth quickly mentioning to show HURA -7.81%↓‘s commitment to longevity. In 2025, HURA -7.81%↓ purchased Kineta Inc., a clinical-stage biotech based in Seattle. Kineta was producing KVA12123, a novel VISTA-blocking monoclonal antibody that’s in phase 1/2 trials. ThHura is trying to leverage Kineta’s research to produce a drug for Acute Myeloid Leukemia, showing that iFx isn’t just going to be a one-off— there are other positive catalysts on the horizon. The company has seemingly made a lot of changes and is on the right road to becoming a biotech powerhouse. But it’s still very, very early— one approval at a time.
What’s Up With The Price Though? It’s Down 99%+?
HURA -7.81%↓ has been rebranded/restructured from Morphogenesis in December 2023. When that happened, the shares went nuts, so it’s not really worth looking at before December 2023. Since then, there have been many registered offerings, which offer great entry points for scalps. However, I think it’s about time to buy and hold and I believe they will phase three approval before the end of 2025. Latest, mid-2026.
Price Targets for thHura
I don’t give much weight to price targets in general. However, HURA -7.81%↓ has shockingly high ones, so they’re worth mentioning. It’s not just me and Rep. Lee going insane in a vacuum. Zacks estimates $9.25-15, StockAnalysis says $11-$12, Investing.com estimates $9.25-15, and HC Wainwright (who’ve been especially vocal about their price target) expects HURA -7.81%↓ to hit $12-15. Again, analysts, bleh. But, that’s a shit ton of upside.
What’s my price target? Fuck you, I don’t know. Over $15 after approval. Maybe $50 a share. Sure, why not?
Do They Have Cash Though? What’s The Boring Stuff?
They do! They have $6.22 million in cash (net is about $6 million), $14.33 million in assets, and $4.78 million in liabilities. For a startup biotech that just acquired a company, that’s pretty damn good. They have a -$15.63 million cashflow (-.36 a share) and an EBITDA of -$19.96 million. Again, we’re talking about a biotech here, so eh, not the worst. They have a cash burn of $14.33 million for R&D and $5.73 million for G&A, leaving them about 1.2 years at this cash burn. That’s plenty of time for iFx to be released, to have another offering, or to cut down on R&D. I think their cash position is fine, especially for an early-stage biotech. I’m mostly here for the approval pump anyway, so I don’t really care too much. It shows that there will likely be another offering down the road though, so be watchful of that.
Thanks for Reading!
Hey, thanks for reading my DD on HURA -7.81%↓ ! This is my first long DD post and it was a lot of fun to write. This is not financial advice. It’s spiritual advice. Think twice before you roll the dice. Disclaimer disclaimed, this seems like a damn good buy, especially at these levels. Check out my substack if you enjoyed this. I’ll be coming out with one a week for free.