recent-quarter-med

Methodology inspired by publicly taught quarter-review frameworks; all text is an original paraphrase.

Defaults

Parameter	Default Value	Rationale
review_quarters	1	Recent quarter focus
include_milestones	true	Pipeline milestones are med quarter content
include_regulatory	true	CRL/approval/AdCom updates belong in the review

Preflight

Run canonical pre-flight per contracts/preflight.md. Include the X-Agentii-Trace header on every tool call per contracts/x-agentii-trace-header.md — carry the _run_id from your first tool result and name yourself (and your parent, if you were spawned).

Triggers

• "Review [biotech ticker]'s most recent quarter."
• "What happened at [ticker]'s last earnings?"
• "Summarize [ticker]'s latest 10-Q."
• "How did [ticker]'s pipeline progress last quarter?"
• "Any regulatory updates for [ticker] recently?"
• "Quarterly review with milestone tracking for [ticker]."
• "What did management say about the pipeline?"
• "Runway update for [ticker] after the last print."
• "What moved for [ticker] last quarter?"
• "Quarter in review: financials + catalysts for [ticker]."
• "What changed in my estimates, thesis, and positioning after [ticker]'s print?"

Production Grounding

• A med quarter is judged on BOTH reported financials and pipeline/regulatory progress; milestone slips and CRLs are first-class quarter content.
• Quarter close-out: model-vs-consensus deltas on key line items (our modeled numbers vs consensus from search_earnings_calendar) + the three what's-changed vectors (estimates / thesis / positioning) — estimates move first, thesis and positioning follow only when the facts justify them.
• Cash runway (quarters of cash) is a primary metric for clinical-stage names.
• Grounding frameworks: references/knowledge-frameworks.md (道/法 review knowledge).

Data Source Priority

1. search_xbrl_facts / get_statement — reported financials.
2. search_earnings_calendar — consensus values for model-vs-consensus deltas.
3. search_documents / read_source_* — management commentary, pipeline updates.
4. get_company_profile — company context.
5. Knowledge layer: search_investment_cases for similar quarter dynamics.

Methodology

Retrieval Scope

unstructured_document_search

Retrieval Strategy

1. Pull the latest statements via get_statement + key facts via search_xbrl_facts.
2. Pull consensus via search_earnings_calendar; compute model-vs-consensus deltas on each key line item; annotate coverage_gap where no consensus value exists.
3. Read management commentary (read_source_outline/read_source_pages) for milestones/regulatory.
4. Slot-refresh the three what's-changed vectors: estimates / thesis / positioning.
5. Assess runway + milestone trajectory.
6. Ground with historical cases via knowledge tools.

Temporal Scope

See frontmatter temporal_scope block.

Tool Allowlist

See frontmatter allowed_tools.

Protocol

1. Financial review
2. Model-vs-consensus deltas
3. What's-changed vectors (estimates / thesis / positioning)
4. Milestone & regulatory review
5. Runway assessment
6. Quarter synthesis

Modes

• Standard (default): financials + milestones + regulatory.
• Pre-revenue: runway-focused review.
• Regulatory-heavy: quarter framed around FDA events.

Tool Fallbacks

Failure	Fallback
get_statement unavailable	Reconstruct from search_xbrl_facts; annotate
search_earnings_calendar empty	State deltas vs last-modeled values only; annotate consensus coverage_gap
No commentary found	Note coverage gap; use filings only
Knowledge tools empty	Proceed with structured data only

Output File

{ticker}/{YYYY-MM-DD_HHMM}_recent-quarter-med_{affix}.md

Output Structure

1. Executive Summary — quarter verdict in 2-3 sentences
2. Financial Review — key line items + trends
3. Model vs Consensus — our modeled numbers vs consensus (search_earnings_calendar) with signed deltas and named drivers
4. What's Changed — the three vectors: estimates / thesis / positioning (estimates move first, ratings last)
5. Milestone & Regulatory Review — pipeline progress, FDA updates
6. Runway & Cash — runway assessment
7. Historical Context — cases with /v/ citations
8. Coverage Gaps — degraded flags

Error Handling

Error	Fallback
No recent filings	Flag stale coverage; use latest available
Milestone data missing	Note explicitly; do not infer

Memory Load

See contracts/memory-load.md.

Snapshot

See contracts/snapshot-synthesis.md.

Final Summary (TUI)

Include ### Key Citations block with 0-10 clickable /v/ URLs.

References

• contracts/citation-and-memory.md
• contracts/output-frontmatter-schema.md
• contracts/memory-load.md
• contracts/snapshot-synthesis.md
• contracts/preflight.md
• references/knowledge-frameworks.md