Event-Driven Investment Opportunities, Special Situation Investments

Dalius Tauraitis

Event-Driven Investment Opportunities

Special Situation Investments

Focus on event-driven trades and low risk arbitrage opportunities with short term catalysts

Event-Driven

<ul>
<li>Essa Pharma (EPIX) halted pipeline development, launched strategic review, offering 21% upside to NAV/liquidation value by mid-2025.</li>
<li>DMC Global (BOOM) Q3 earnings weak, management ruled out divestitures, trading at 5x 2024E EBITDA guidance, facing macro headwinds.</li>
<li>Delek US (DK) reported weak Q3 results, refining margins low, management plans to deconsolidate DKL, trades below DKL stake value.</li>
</ul>


Essa Pharma (EPIX) halted pipeline development, launched strategic review, offering 21% upside to NAV/liquidation value by mid-2025.
DMC Global (BOOM) Q3 earnings weak, management ruled out divestitures, trading at 5x 2024E EBITDA guidance, facing macro headwinds.
Delek US (DK) reported weak Q3 results, refining margins low, management plans to deconsolidate DKL, trades below DKL stake value.


Key Updates on EPIX, HLVX, PRKR, BOOM, VZIO, WOW, AVAP:L, LOGC, LFCR, DK

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, NVO had all semaglutide dosages listed available on the FDA drug shortage list, pressuring compounded GLP-1 seller HIMS.</li><li>ABBV acquired a private Alzheimer’s biotech, boosting neuro developers PRTA, VIGL, and ALEC.</li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, NVO had all semaglutide dosages listed available on the FDA drug shortage list, pressuring compounded GLP-1 seller HIMS.ABBV acquired a private Alzheimer’s biotech, boosting neuro developers PRTA, VIGL, and ALEC.

Biopharma Week in Review - November 4, 2024

Canada

ESSA Pharma Inc., is a pharmaceutical company focused on the development of small molecule drugs for the treatment of prostate cancer.

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