When GENB insiders can sell
Generate Biomedicines, Inc. · IPO prospectus filed 2026-02-27 · Single cliff · 180-day lock-up
That is the calendar date the clause computes to. It is the only date computable without knowing a future earnings date, which is why everything that could pull it earlier is printed below it on this page rather than folded into it.
How much stock, against how much trades
"Absorb days" is the shares coming free divided by average daily volume: how many full sessions of GENB's entire turnover the release amounts to. It is a ratio, not a forecast — it does not know who wants to sell, and a founder with no intention of selling counts the same as a fund that has been waiting six months.
Exactly 102,450,201 shares, against 1,002,090 shares a day averaged over 20 sessions. Volume source: yahoo-finance2 daily bars (symbol not in our price table), through 2026-11-06. Dollar volume $13.1M a day. Middle third — no call.
Why there is no call on this deal
The numbers above are published, but no dated call was issued. A call only goes in the ledger when the expiry falls 15 to 45 days out, the prospectus states or implies a share count, and there are at least 20 sessions of volume — and the middle third of the cohort gets no call at all, because a call on every deal is not a call. Publishing one here would be padding the scoreboard with a coin flip.
The lock-up clause, in the issuer's words
Every other free lock-up calendar tells you 180 days and moves on. This is the actual sentence the date above was computed from, so that if the words do not support the number, the number is wrong and the filing is one click away.
At any time beginning 180 days after the completion of this offering, the holders of a majority of registrable securities then outstanding may request that we register all or a portion of their shares on Form S-1 if the anticipated aggregate offering price of the shares offered would exceed $10 million. With certain exceptions, we are not required to effect the filing of a registration statement during the period starting with the date of the filing of, and ending on a date 60 days following the effective date of the registration statement for this offering. We will not be required to effect more than two registrations pursuant to this provision of our amended and restated investors rights agreement.
Where the share count comes from
102,450,201 shares — derived: shares outstanding after the offering, less the shares sold in it. A count the prospectus prints and a count derived from two of its other numbers are not the same quality of claim, so which one this is gets said rather than implied.
| Shares outstanding after the offering | 127,450,201 |
| Shares sold in the offering | 25,000,000 |
| Underwriters' over-allotment option | 3,750,000 |
| Locked up, coming free at expiry | 102,450,201 |
Common stock to be outstanding immediately after this offering 127,450,201 shares (or 131,200,201 shares if the underwriters exercise their option to purchase additional shares of common stock in full). Use of proceeds We estimate that the net proceeds from the sale of our common stock in this offering will be approximately $368.8 million (or approximately $424.9 million if the underwriters exercise their option to purchase additional shares of common stock in full), based on the initial public offering price of $16.00 per share, after deducting underwriting discounts and commissions and estimated offering expenses payable by us.
Exceptions written into the lock-up (5)
Each of these is a route by which GENB shares can move before 2026-08-26. The 10b5-1 carve-out is the one worth reading twice: it lets insiders put a selling plan in place during the lock-up, so the first sales can be automatic and immediate rather than discretionary and later.
- 10b5-1 plan
- bona fide gift or charitable transfer
- estate planning or family transfer
- directed share program participants
- option exercise or RSU settlement
Rule 10b5-1 Sales Plans Our directors and executive officers may adopt written plans, known as Rule 10b5-1 plans, in which they will contract with a broker to buy or sell shares of our common stock on a periodic basis. Under a Rule 10b5-1 plan, a broker executes trades pursuant to parameters established by the director or officer when entering into the plan, without further direction from them. The director or officer may amend or terminate a Rule 10b5-1 plan in some circumstances.
…or other dispositions by our officers, directors and holders of common stock described in the immediately preceding paragraph do not apply to, subject to certain limitations, the following transfers: (i) as one or more bona fide gifts or charitable contributions, or for bona fide estate planning purposes, (ii) upon death by will, testamentary document or intestate succession, (iii) to any immediate family member of the transferor or any trust for the direct or indirect benefit of the transferor or any immediate family member of the transferor, (iv) to any corporation, partnership, limited liability company or other entity, in each…
…ractitioners, clinical nurse specialists, certified nurse anesthetists, anesthesiology assistants and certified nurse-midwives) and teaching hospitals, and ownership and investment interests held by physicians and their immediate family members. Federal government price reporting laws, which require drug makers to calculate and report complex pricing metrics in an accurate and timely manner to government programs. Federal consumer protection and unfair competition laws, which broadly regulate marketplace activities and activities that potentially harm consumers. State law equivalents of each of the above federal laws and state laws…
Directed share program At our request, the underwriters have reserved up to 5% of the shares offered by this prospectus for sale at the initial public offering price to certain individuals through a directed share program, including our directors, officers, employees and certain other individuals identified by management. The sales will be made at our direction by Morgan Stanley & Co. LLC and its affiliates through a directed share program.
…d stock and Series B preferred stock, the preferred stock ), into an aggregate of 69,333,244 shares of our common stock upon the completion of this offering, and excludes: 20,422,301 shares of common stock issuable upon exercise of outstanding stock options as of December 31, 2025 under our 2019 Equity Incentive Plan, as amended (the 2019 Plan ), with a weighted average exercise price of $5.91 per share; 441,076 shares of common stock issuable upon exercise of outstanding stock options granted after December 31, 2025 under our 2019 Plan, with a weighted average exercise price of $11.75 per share; 3,404,855 shares of common stock res…
How this reading of GENB could be wrong
The volume is a vendor's, not ours. GENB is not in our own price table, so average daily volume comes from yahoo-finance2 daily bars (symbol not in our price table). Vendor bars for recently listed symbols are the ones most likely to be wrong.
Only 20 sessions of volume history. This is a recent IPO, and early volume is dominated by the offering itself. An average over 20 sessions of a stock that has barely traded is the weakest input on the page, and absorb days inherits every bit of that weakness.
The parser can misread a filing. That is why every number here is printed next to the words it came from. Earlier versions of this parser read the underwriters' 30-day over-allotment window as a 30-day lock-up on five deals, and double-counted one issuer's share total because the offering summary appears on both the cover and in the summary section.
Also unlocking in 2026-08 (9)
Lock-ups cluster, because IPOs cluster: these priced in the same window as GENB and come free in the same month. Several heavy releases landing together is a different situation from one.
| Deal | Expiry | Shares free | Absorb days |
|---|---|---|---|
| MANE Veradermics, Inc | 2026-08-03 | 20.0M | 29.9 sessions |
| EIKN Eikon Therapeutics, Inc. | 2026-08-04 | 32.9M | 62.2 sessions |
| BOBS Bob's Discount Furniture, Inc. | 2026-08-04 | 110.9M | 115 sessions |
| SGP SpyGlass Pharma, Inc. | 2026-08-05 | 22.5M | 216 sessions |
| AGMB Agomab Therapeutics NV | 2026-08-05 | — | — |
| FPS Forgent Power Solutions, Inc. | 2026-08-05 | 287.8M | 25.4 sessions |
| OFRM Once Upon a Farm, PBC | 2026-08-08 | 32.6M | 35.3 sessions |
| MWH SOLV Energy, Inc. | 2026-08-10 | 178.9M | 102 sessions |
| APC ARKO Petroleum Corp. | 2026-08-12 | — | — |
Learn to read these clauses yourself
The flow arithmetic on this page — shares unlocking divided by average daily volume, and why the clause has to be read rather than assumed — taught step by step, free.
Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · GENB's prospectus on EDGAR · what funds carried these companies at before listing