Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

Sabio Holdings Inc. operates as a holding company. The Company, through its subsidiaries, offers cloud migration, AI and automation, data management, agent desktop, and CX management solutions. Sabio Holdings serves customers worldwide.

<ul><li>What you need to know: • Sabio reported excellent Q4 and 2024 financial results that beat our original expectations prior to being revised upward on the pre-release.</li><li>• Revenue came in at $18.3M (+44% YoY) compared to our original estimate of $16.4M and revised estimate of $18.0M.</li><li>Adjusted EBITDA came in at $2.8M (+38% YoY) vs. our estimate of $2.7M.</li></ul>

What you need to know: • Sabio reported excellent Q4 and 2024 financial results that beat our original expectations prior to being revised upward on the pre-release.• Revenue came in at $18.3M (+44% YoY) compared to our original estimate of $16.4M and revised estimate of $18.0M.Adjusted EBITDA came in at $2.8M (+38% YoY) vs. our estimate of $2.7M.

SBIO: Increasing Target Price on Strong Q4 & 2024 Financials

Research from Hardman & Co, Hardman & Co

Hardman & Co

Research from Hardman & Co

Investment research on quoted companies and funds

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

NB Private Equity Partners / Equity Bottom-Up

NB Private Equity Partners is a closed end investment fund incorporated in Guernsey. The fund invests in a diversified portfolio of direct yielding investments, co-investments and fund investments selected by the NB Alternatives group of Neuberger Berman, diversified across private equity asset class, geography, industry, vintage year, and sponsor.

<ul><li>We highlighted our capital markets day takeaways in CM day: 6 November fireworks; notably, i) positive market trends, ii) NB’s platform unique benefits, and iii) multiple levers for value creation.</li><li>In this note, we update investors on i) the latest NAV/portfolio, ii) NBPE’s revised capital allocation framework, iii) the potential impact of current Trump polices, and iv) the impact of interest rate expectations, which seem to evolve daily but which, in our view, have seen a trend of higher-for-longer forecasts.</li><li>The underlying message is that PE, and NBPE, reacts dynamically to changing conditions and has a track record of outperformance across a range of environments.</li></ul>

We highlighted our capital markets day takeaways in CM day: 6 November fireworks; notably, i) positive market trends, ii) NB’s platform unique benefits, and iii) multiple levers for value creation.In this note, we update investors on i) the latest NAV/portfolio, ii) NBPE’s revised capital allocation framework, iii) the potential impact of current Trump polices, and iv) the impact of interest rate expectations, which seem to evolve daily but which, in our view, have seen a trend of higher-for-longer forecasts.The underlying message is that PE, and NBPE, reacts dynamically to changing conditions and has a track record of outperformance across a range of environments.

NB Private Equity Partners (NBPE): Update on: NAV, capital, Trump and interest rates

Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Dogwood Therapeutics, Inc. operates as a development-stage biotechnology. The Company develops novel therapeutics and sodium channel blocker to treat moderate-to-severe chemotherapy induced neuropathic pain, cancer pain, and other pain indications. Dogwood Therapeutics serves patients in the United States.

<ul><li>On March 18, 2025, Dogwood Therapeutics, Inc. announced that the first patient was dosed in the Phase 2b HALT-CINP clinical trial of its lead asset, Halneuron .</li><li>The goal is to recruit 100 patients and perform an interim analysis by the fourth quarter of 2025, which will enable changes to the study, if necessary, to improve trial outcomes.</li><li> On March 12, 2025, Dogwood announced a debt conversion with its largest shareholder.</li></ul>

On March 18, 2025, Dogwood Therapeutics, Inc. announced that the first patient was dosed in the Phase 2b HALT-CINP clinical trial of its lead asset, Halneuron .The goal is to recruit 100 patients and perform an interim analysis by the fourth quarter of 2025, which will enable changes to the study, if necessary, to improve trial outcomes. On March 12, 2025, Dogwood announced a debt conversion with its largest shareholder.

DWTX: First Patient Dosed in Phase 2b Trial of Halneuron in CINP  Debt Conversion Strengthens Balance Sheet

Pharma-Bio Serv Inc. provides consulting services to pharmaceutical, biotechnology and chemical manufacturing companies principally in Puerto Rico.

<ul><li>Pharma-Bio Serv(PBSV) Company Sponsored Research Report</li></ul>

Pharma-Bio Serv(PBSV) Company Sponsored Research Report

PBSV: Growth Returns as Investments Pay Off

Protalix BioTherapeutics  / Equity Bottom-Up

Protalix BioTherapeutics Inc. is a biotechnology company that has developed plant cell culture technology and a bioreactor system.

<ul><li>Protalix is a clinical and commercial pharmaceutical company using its proprietary ProCellEx plant-based expression system to pro duce thera peutic proteins for global markets.</li><li>The company has two commer cialized products, Elelyso that is marketed by Fiocruz in Brazil & Pfizer in the rest of the world for Gaucher Disease and Elfabrio which was approved in May 2023.</li><li>Chiesi Rare Disease will commercialize Elfabrio globally.</li></ul>

Protalix is a clinical and commercial pharmaceutical company using its proprietary ProCellEx plant-based expression system to pro duce thera peutic proteins for global markets.The company has two commer cialized products, Elelyso that is marketed by Fiocruz in Brazil & Pfizer in the rest of the world for Gaucher Disease and Elfabrio which was approved in May 2023.Chiesi Rare Disease will commercialize Elfabrio globally.

Small Cap Longs
Mighty oaks from tiny acorns grow

SBIO: Increasing Target Price on Strong Q4 & 2024 Financials

What you need to know: • Sabio reported excellent Q4 and 2024 financial results that beat our original expectations prior to being revised upward...

Atrium Research

NB Private Equity Partners (NBPE): Update on: NAV, capital, Trump and interest rates

We highlighted our capital markets day takeaways in CM day: 6 November fireworks; notably, i) positive market trends, ii) NB’s platform unique...

Hardman & Co

DWTX: First Patient Dosed in Phase 2b Trial of Halneuron in CINP Debt Conversion Strengthens Balance Sheet

On March 18, 2025, Dogwood Therapeutics, Inc. announced that the first patient was dosed in the Phase 2b HALT-CINP clinical trial of its lead...

Zacks Small Cap Research

PBSV: Growth Returns as Investments Pay Off

Pharma-Bio Serv(PBSV) Company Sponsored Research Report

Zacks Small Cap Research

PLX: 2024 Results

Protalix is a clinical and commercial pharmaceutical company using its proprietary ProCellEx plant-based expression system to pro duce thera...

Zacks Small Cap Research