Research from Water Tower Research, Water Tower Research

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.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

<ul><li>GICS reclassification. Our update report dated August 18, 2025, assumed coverage of Ainos under the WTR Technology research platform.</li><li>While remaining dedicated to advancing its core therapeutic program VELDONA, the report discusses Ainos’ prioritized strategic focus on the development of and commercialization pathway for its proprietary digital AI-powered olfaction platform, Al Nose.</li><li>Effective October 1, 2025, Ainos has been reclassified under the Global Industry Classification Standard (GICS®), developed and administered by S&amp;P Dow Jones Indices and MSCI, from the biotechnology sector to Technology Hardware, Storage &amp; Peripherals (Code 45202030). </li></ul>

GICS reclassification. Our update report dated August 18, 2025, assumed coverage of Ainos under the WTR Technology research platform.While remaining dedicated to advancing its core therapeutic program VELDONA, the report discusses Ainos’ prioritized strategic focus on the development of and commercialization pathway for its proprietary digital AI-powered olfaction platform, Al Nose.Effective October 1, 2025, Ainos has been reclassified under the Global Industry Classification Standard (GICS®), developed and administered by S&amp;P Dow Jones Indices and MSCI, from the biotechnology sector to Technology Hardware, Storage &amp; Peripherals (Code 45202030). 

Ainos, Inc: Announces GICS Reclassification; Secures Seven New Patents; Expands Portfolio to 123