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.

Equity Bottom-Up

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.

PLX: Secarna's Antisense Oligonucleotide Discovery Collaboration

Deep Yellow Limited is an advanced stage uranium exploration company progressing its core Namibian projects.

<ul><li>Management is utilizing FID deferral period by further derisking the Tumas Project through quantifiable progress across critical pre-production work streams.</li><li> CEO transition adds volatility to Deep Yellow's stock.</li><li> New CEO, Greg Field, will take the helm no later than May 1, 2026 Drilling results at S Bend & Tinkas Prospects are encouraging for the potential for future resource growth at Tumas Update on uranium industry.</li></ul>

Management is utilizing FID deferral period by further derisking the Tumas Project through quantifiable progress across critical pre-production work streams. CEO transition adds volatility to Deep Yellow's stock. New CEO, Greg Field, will take the helm no later than May 1, 2026 Drilling results at S Bend & Tinkas Prospects are encouraging for the potential for future resource growth at Tumas Update on uranium industry.

DYLLF: Flagship Tumas Project Continues to be De-Risked by Pre-Production Work Streams  CEO Transition in Progress  S Bend & Tinkas Prospects add visible potential for future resource growth at Tumas

TuHURA Biosciences, Inc. is a phase 3 registration-stage immuno-oncology company. The Company focuses on developing technologies to overcome resistance to cancer immunotherapy. TuHURA Biosciences operates in the United States.

<ul><li>TuHURA is a clinical-stage, oncology-focused biotechnology company advancing innate immune agonists, checkpoint inhibitors & antibody-drug conjugates (ADCs).</li><li>It offers the IFx platform technology featuring the IFx-2.0 tumoral injection delivery approach for Merkel cell carcinoma (MCC) & the IFx-3.0 intravenous delivery approach for lymphoma.</li><li>IFx encodes a bacterial protein to be expressed in cancer cells, activating the innate immune system & subsequent cascade that may eliminate the tumor.</li></ul>

TuHURA is a clinical-stage, oncology-focused biotechnology company advancing innate immune agonists, checkpoint inhibitors & antibody-drug conjugates (ADCs).It offers the IFx platform technology featuring the IFx-2.0 tumoral injection delivery approach for Merkel cell carcinoma (MCC) & the IFx-3.0 intravenous delivery approach for lymphoma.IFx encodes a bacterial protein to be expressed in cancer cells, activating the innate immune system & subsequent cascade that may eliminate the tumor.

Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Vera Bradley, Inc. designs, produces and retails fashion accessories for women. The Company markets handbags, accessories and travel and leisure items through its chain of retail stores and independent retailers.

<ul><li>We are reiterating our Hold rating and projections for Vera Bradley after visiting stores in Connecticut, Long Island and New Jersey.</li><li> With newness somewhat limited (with one material exception), both the outlet and main line stores are focused on clearing older goods and moving into 2026 with clean stores and ready for the first key season with new management, a period where we expect “Project Sunshine’ to drive even higher levels of cotton goods, the return of key silhouettes and more patterns and collaborations.</li><li> While early, we believe there are key signs the shifts are, at minimum, returning the OG Vera shopper and positioning the company to expand the buyer pool.</li></ul>

We are reiterating our Hold rating and projections for Vera Bradley after visiting stores in Connecticut, Long Island and New Jersey. With newness somewhat limited (with one material exception), both the outlet and main line stores are focused on clearing older goods and moving into 2026 with clean stores and ready for the first key season with new management, a period where we expect “Project Sunshine’ to drive even higher levels of cotton goods, the return of key silhouettes and more patterns and collaborations. While early, we believe there are key signs the shifts are, at minimum, returning the OG Vera shopper and positioning the company to expand the buyer pool.

VRA: Snapping the Store: Holiday Tidings Bright; Reiterate Hold

Build-A-Bear Workshop, Inc. is an interactive, entertainment mall-based retailer that invites guests to create their own customized stuffed animals through a bear-making process.  The Company operates various locations in the United States and other countries.

<ul><li>We are reiterating our Buy rating, projections and $65 price target for Build-A-Bear Workshop after visiting stores in Connecticut and Long Island.</li><li> Build-A-Bear is in full Holidays selling season, with “furry friends” both large (Giant sized) and small (Mini Beans) and an impressive assortment, highlighted by the 10th Anniversary version of Glisten.</li><li> Further, for the consumer looking for last minute shopping, gift cards are a material driver and will historically ensure the post-Xmas season is also strong.</li></ul>

We are reiterating our Buy rating, projections and $65 price target for Build-A-Bear Workshop after visiting stores in Connecticut and Long Island. Build-A-Bear is in full Holidays selling season, with “furry friends” both large (Giant sized) and small (Mini Beans) and an impressive assortment, highlighted by the 10th Anniversary version of Glisten. Further, for the consumer looking for last minute shopping, gift cards are a material driver and will historically ensure the post-Xmas season is also strong.

BBW: Snapping the Store: Spreading Holiday Cheer; Reiterate Buy, $65 PT