{
 "as_of": "2026-11-06",
 "cmr": "pl-cm-kg/XWAR/PLBIOTN00029",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# BIOTON (GPW Main Market: PLBIOTN00029) — research page\n\nAs of 2026-11-06 · pl-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is BIOTON, listed on GPW Main Market under ticker PLBIOTN00029, with ISIN PLBIOTN00029 and LEI 259400I5R1L3OPCGII81. Security type, segment, sector and jurisdiction are not on the record. Listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 20 filings in the window 2025-11-06 to 2026-11-06, across 16 filing days: 17 ESPI Current, 2 ESPI Quarterly and 1 ESPI half years. The median gap between filing days is 15 days. The latest filing is dated 2026-09-15 and is of type ESPI half years, 52 days before the record date of 2026-11-06. The GPW Main Market peer medians are 31.0 filings, a cadence gap of 8.0 days and a latency of 10 days, across 436 issuers. Sector peer figures are not on the record for this market.\n\n## Auditor\n\nThe auditor of record is not on the record, and neither is its location. Auditor changes are not on the record for this market.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record for this market. The halt flag is not set: the issuer is listed, not halted.\n\n## Orderability\n\nThe outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/pl/mifid-ii-product-governance/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nNo research houses were found on the issuer's investor-relations pages read.\n\n## Open research\n\nFive openly published research notes are on the record, all by Noble Securities: 2025-07-25, 2023-09-19, 2022-09-06, 2022-04-19 and 2021-09-09.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.\n\n## Sources\n\n11 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://firds.esma.europa.eu/firds/ (identity.exchange)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.pl-cm-kg.ai/events/XWAR/PLBIOTN00029 (the disclosure lines)\n- https://www.gpw.pl/zawieszenia-i-wykluczenia (the halt flag)\n- https://pl.eu-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://bioton.com/wp-content/uploads/2025/07/bioton-noblesec-0725-en.pdf (open research)\n- https://bioton.com/wp-content/uploads/2023/09/bioton-noblesec-0919-en.pdf (open research)\n- https://bioton.com/wp-content/uploads/2023/02/analytical-report-en.pdf (open research)\n- https://bioton.com/wp-content/uploads/2022/08/20220419_0916_BIO_EN_RA.pdf (open research)\n- https://bioton.com/wp-content/uploads/2022/08/20210909_0916_BIO_EN_RA.pdf (open research)\n- https://mcp.pl-cm-kg.ai/record/XWAR/PLBIOTN00029 (the record)\n",
 "market": "PL",
 "node": "pl-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the PL vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "market": "PL",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "PL",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "PL",
    "state": "not_on_record"
   },
   "changes": {
    "market": "PL",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "pl-cm-kg/XWAR/PLBIOTN00029",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": null,
   "state": "none_found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 436,
     "median_cadence_gap_days": 8,
     "median_filings": 31,
     "median_latency_days": 10,
     "name": "GPW Main Market"
    },
    "sector": {
     "market": "PL",
     "state": "not_on_record"
    }
   },
   "by_type": {
    "ESPI Current": 17,
    "ESPI Quarterly": 2,
    "ESPI half years": 1
   },
   "cadence_median_gap_days": 15,
   "filing_days": 16,
   "filings": 20,
   "latency_days": 52,
   "latest": [
    {
     "category": "ESPI half years",
     "date": "2026-09-15",
     "source": "https://www.gpw.pl/espi-ebi-report?geru_id=497063",
     "title": null,
     "type": "ESPI half years"
    },
    {
     "category": "ESPI Current",
     "date": "2026-08-21",
     "source": "https://www.gpw.pl/espi-ebi-report?geru_id=495687&title=Dokonanie+wpisu+obni%C5%BCenia+kapita%C5%82u+zak%C5%82adowego+Sp%C3%B3%C5%82ki",
     "title": "Dokonanie wpisu obniżenia kapitału zakładowego Spółki",
     "type": "ESPI Current"
    },
    {
     "category": "ESPI Current",
     "date": "2026-07-31",
     "source": "https://www.gpw.pl/espi-ebi-report?geru_id=494741&title=Zawiadomienie+w+trybie+art.+19+ust.+3+rozporz%C4%85dzenia+MAR",
     "title": "Zawiadomienie w trybie art. 19 ust. 3 rozporządzenia MAR",
     "type": "ESPI Current"
    },
    {
     "category": "ESPI Current",
     "date": "2026-06-23",
     "source": "https://www.gpw.pl/espi-ebi-report?geru_id=492074&title=Powo%C5%82anie+os%C3%B3b+nadzoruj%C4%85cych+BIOTON+S.A.",
     "title": "Powołanie osób nadzorujących BIOTON S.A.",
     "type": "ESPI Current"
    },
    {
     "category": "ESPI Current",
     "date": "2026-06-23",
     "source": "https://www.gpw.pl/espi-ebi-report?geru_id=492067&title=Uchwa%C5%82y+podj%C4%99te+przez+Zwyczajne+Walne+Zgromadzenie+BIOTON+S.A.+w+dniu+23+czerwca+2026+r.",
     "title": "Uchwały podjęte przez Zwyczajne Walne Zgromadzenie BIOTON S.A. w dniu 23 czerwca 2026 r.",
     "type": "ESPI Current"
    }
   ],
   "latest_filing_date": "2026-09-15",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.pl-cm-kg.ai/events/XWAR/PLBIOTN00029",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "ESMA FIRDS full equity files 2026-11-07 (registers.esma.europa.eu Solr file index (esma_registers_firds_files)); CFI ES*, MIC in ['XNCO', 'XWAR'], no termination date",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://firds.esma.europa.eu/firds/",
    "state": "sourced",
    "value": "GPW Main Market"
   },
   "isin": {
    "read_by": "ESMA FIRDS full equity files 2026-11-07 (registers.esma.europa.eu Solr file index (esma_registers_firds_files)); CFI ES*, MIC in ['XNCO', 'XWAR'], no termination date",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://firds.esma.europa.eu/firds/",
    "state": "sourced",
    "value": "PLBIOTN00029"
   },
   "jurisdiction": {
    "market": "PL",
    "state": "not_on_record"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-09",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN PLBIOTN00029)",
    "state": "sourced",
    "value": "259400I5R1L3OPCGII81"
   },
   "name": {
    "read_by": "ESMA FIRDS full equity files 2026-11-07 (registers.esma.europa.eu Solr file index (esma_registers_firds_files)); CFI ES*, MIC in ['XNCO', 'XWAR'], no termination date",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://firds.esma.europa.eu/firds/",
    "state": "sourced",
    "value": "BIOTON"
   },
   "sector": {
    "market": "PL",
    "state": "not_on_record"
   },
   "security_type": {
    "market": "PL",
    "state": "not_on_record"
   },
   "segment": {
    "market": "PL",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "ESMA FIRDS full equity files 2026-11-07 (registers.esma.europa.eu Solr file index (esma_registers_firds_files)); CFI ES*, MIC in ['XNCO', 'XWAR'], no termination date",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://firds.esma.europa.eu/firds/",
    "state": "sourced",
    "value": "PLBIOTN00029"
   },
   "website": {
    "market": "PL",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "PL",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "PL",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "PL",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "PL",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "PL",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "PL",
  "node": "pl-cm-kg",
  "numbers_hash": "sha256:f524aa55cc01d090785e0033bb8c20180df8a3636840078da13ff3143c3c2b52",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2025-07-25",
     "kind": "independent",
     "publisher": "Noble Securities",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://bioton.com/wp-content/uploads/2025/07/bioton-noblesec-0725-en.pdf",
     "state": "sourced",
     "title": "Q2 2025 quarter"
    },
    {
     "date": "2023-09-19",
     "kind": "issuer-sponsored",
     "publisher": "Noble Securities",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://bioton.com/wp-content/uploads/2023/09/bioton-noblesec-0919-en.pdf",
     "state": "sourced",
     "title": "Bioton – growth in sales beyond insulin"
    },
    {
     "date": "2022-09-06",
     "kind": "independent",
     "publisher": "Noble Securities",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://bioton.com/wp-content/uploads/2023/02/analytical-report-en.pdf",
     "state": "sourced",
     "title": "growing exports and cost pressures"
    },
    {
     "date": "2022-04-19",
     "kind": "independent",
     "publisher": "Noble Securities",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://bioton.com/wp-content/uploads/2022/08/20220419_0916_BIO_EN_RA.pdf",
     "state": "sourced",
     "title": "opportunity for export growth"
    },
    {
     "date": "2021-09-09",
     "kind": "independent",
     "publisher": "Noble Securities",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://bioton.com/wp-content/uploads/2022/08/20210909_0916_BIO_EN_RA.pdf",
     "state": "sourced",
     "title": "waiting for the first analog to enter the clinic"
    }
   ],
   "state": "found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [],
   "determinable": false,
   "read": {
    "chapter": "https://pl.eu-cm-kg.ai/book/aio.json",
    "door": "https://pl.eu-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/pl/mifid-ii-product-governance/r1",
   "section": "pl.aio.v5"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.pl-cm-kg.ai/record/XWAR/PLBIOTN00029",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-09",
   "source": "https://www.gpw.pl/zawieszenia-i-wykluczenia",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:f524aa55cc01d090785e0033bb8c20180df8a3636840078da13ff3143c3c2b52",
 "path": "/pl/XWAR/PLBIOTN00029",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is BIOTON, listed on GPW Main Market under ticker PLBIOTN00029, with ISIN PLBIOTN00029 and LEI 259400I5R1L3OPCGII81. Security type, segment, sector and jurisdiction are not on the record. Listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 20 filings in the window 2025-11-06 to 2026-11-06, across 16 filing days: 17 ESPI Current, 2 ESPI Quarterly and 1 ESPI half years. The median gap between filing days is 15 days. The latest filing is dated 2026-09-15 and is of type ESPI half years, 52 days before the record date of 2026-11-06. The GPW Main Market peer medians are 31.0 filings, a cadence gap of 8.0 days and a latency of 10 days, across 436 issuers. Sector peer figures are not on the record for this market.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is not on the record, and neither is its location. Auditor changes are not on the record for this market.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record for this market. The halt flag is not set: the issuer is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/pl/mifid-ii-product-governance/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "No research houses were found on the issuer's investor-relations pages read.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "Five openly published research notes are on the record, all by Noble Securities: 2025-07-25, 2023-09-19, 2022-09-06, 2022-04-19 and 2021-09-09.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "11 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://firds.esma.europa.eu/firds/"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.pl-cm-kg.ai/events/XWAR/PLBIOTN00029"
  },
  {
   "for": "the halt flag",
   "source": "https://www.gpw.pl/zawieszenia-i-wykluczenia"
  },
  {
   "for": "the orderability chapter",
   "source": "https://pl.eu-cm-kg.ai/book/aio.json"
  },
  {
   "for": "open research",
   "source": "https://bioton.com/wp-content/uploads/2025/07/bioton-noblesec-0725-en.pdf"
  },
  {
   "for": "open research",
   "source": "https://bioton.com/wp-content/uploads/2023/09/bioton-noblesec-0919-en.pdf"
  },
  {
   "for": "open research",
   "source": "https://bioton.com/wp-content/uploads/2023/02/analytical-report-en.pdf"
  },
  {
   "for": "open research",
   "source": "https://bioton.com/wp-content/uploads/2022/08/20220419_0916_BIO_EN_RA.pdf"
  },
  {
   "for": "open research",
   "source": "https://bioton.com/wp-content/uploads/2022/08/20210909_0916_BIO_EN_RA.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.pl-cm-kg.ai/record/XWAR/PLBIOTN00029"
  }
 ],
 "title": "BIOTON (PLBIOTN00029) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}