Pitt Street Research

We spoke with Peter Himes, CTO of 4DS Memory Limited (ASX:4DS), when he was in Sydney for Semiconductor Australia 2024. Peter talked about the company’s current development and testing work that should position 4DS very well going into 2025 👍 #ASX #4dsmemory #RERAM Stocks Down Under

We spoke with BluGlass Limited (ASX: BLG) CEO Jim Haden, who was in Sydney for Semiconductor Australia 2024. Jim talked us through the CLAWS hub, part of the US CHIPS Act, and what that means for BluGlass. He also spoke about the progress BLG has been making on the commercial front. #ASX #bluglass Stocks Down Under

While semiconductors are a significant market globally, it is not a sector well-understood in Australia, representing just 0.03% of companies on the ASX, compared to 15% of NASDAQ. Semiconductor Australia 2024's Going Global Panel discuss how to unlock funding and secure IP to secure Australia’s high-tech future, and the need for ongoing investment in niche sectors where we are already globally competitive.  Main Sequence Mike Nicholls, Bell Potter Securities James Berman, Wrays | Intellectual Property Paula Adamson, BluGlass Limited (ASX: BLG) James Walker, Pitt Street Research Marc Kennis, Radium Capital , Deloitte Nathan Simiana

Pitt Street Research initiates coverage on MTM Critical Metals. MTM is applying its version of a technology known as as Flash Joule Heating (FJH), a proven way to enhance the process of metal recovery by speeding up the process and lowering the energy inputs involved. We value MTM using a peer-weighted approach at ~$63.9m or A$0.16 per share in a base case and ~$83.0m or A$0.21 per share in an optimistic (or bull case). We expect MTM to rerate over the next 12-24 months subject to positive testing results of FJH as well as optimisation of the technology and potential collaborations with mineral deposit owners and chemical companies. Please be advised that this is a commissioned report and General Advice only. Pitt Street directors own shares. Please see p.21 for more details on our valuation rationale, p.22 for the key risks and the final page for the full General Advice warning, disclosure and disclaimers. https://lnkd.in/g6fzXGwT

The Australian reports that Island Pharmaceuticals is valued at 31 to 41 cents per share by Pitt Street Research in its recent report.   The report highlights Island’s advancing clinical progress and the low-risk profile of ISLA-101, Island’s lead drug candidate.    Read the full story here: https://lnkd.in/gs2ah2-n   #dengue #mosquitobornedisease #biotechinvestment

I'm very honoured to be part of the inaugural Semiconductor Australia event on 24 October. Australia has the potential to become a global semiconductor R&D and design powerhouse and I feel privileged to have been there at the start of that journey a number of years ago. Going forward, Pitt Street Research will be able to assist the industry by helping investors understand this complicated space through in-depth research and access to ASX-listed semiconductor companies. You can still sign up for Semiconductor Australia here: https://lnkd.in/gKjxXNHu

Pitt Street Research publishes an initiation note on Island Pharmaceuticals. Island is an ASX-listed biotech company developing its flagship drug ISLA-101 against mosquito diseases. After years of research and successful clinical data, the company has commenced a Phase II study of ISLA-101 for Dengue fever. Results from the first cohort are expected prior to Christmas 2024, with full results in 2025. If the trial and pursuit of regulatory approval are successful, the company could have a significant market all to itself. Dengue alone is endemic in over 100 countries and infects 400 million people annually. There are no treatments for the fever, only symptomatic relief medicines like paracetamol or mosquito repellents like sprays and nets. Moreover, the spread flaviviruses are expected to intensify in the future because of climate change and increasing urbanisation. Preclinical work at Monash University uncovered ISLA-101’s potential as an anti-viral drug and the research ILA has undertaken to date against Dengue fever (as well as Zika) has been unanimously positive. We value ILA at A$83m in a base case scenario and A$109.1m in an optimistic (or bull) case scenario – equating to $0.31 per share and $0.41 per share respectively under the number of shares on issue post-completion of both tranches of the October 2024 placement. Although ILA share price has until recently suffered due to a delay in the commencement of the Phase II trial, we see ILA being re-rated if the trial is successful. Please note that this is report is General Advice only and is a report Pitt Street has been commissioned to prepare. Please see p.24 for the key risks facing this stock - with the key risk being a failure of the trial - and the final page for the full General Advice Warning, disclosure and disclaimers. https://lnkd.in/gpcsZqgn

It’s been a rough ⚡️ few years for Small & Mid Cap Stocks ... and their shareholders! But we are seeing multiple green shoots 🌱 that bode well for the overall Small Cap segment of the market! 😀 We believe the Small Cap Bear 🐻 Market of 2022-2024 may finally be over 📈 #ASX #smallcaps #bearmarket

Vinyl Group (ASX:VNL) is finding its Groove! 😀 Pitt Street Research publishes an update note on Vinyl Group and its latest acquisitions. In this note, we recap the 3 acquisitions the company made in FY25. The company has the audacious goal of connecting 1,000 leading brands, 100m music creators and 1b fans. For the time being, we reiterate our valuation of VNL first outlined in our May 2024 initiation report - at $211.4m in a base case scenario and $273.6m in an optimistic (or bull) case. These currently equate to 20c per share in our base case and 26c per share in our bull case. We intend to update our valuation once these acquisitions begin to be reflected in the company’s top and bottom lines. Please see p.7 for further details on our valuation and p.8 for the key risks associated with our investment thesis. Please be advised this is a commissioned report and is General Advice only. Please see page 7 for the key risks and the final page for our full General Advice Warning, disclosure and disclaimers. Pitt Street directors own shares in the company. #vinyl #vampr #jaxsta #thebragmedia #bragmedia #stocks #shares #equities #stockmarket #equityresearch #research #researchinitiation #initiationreport #initiatingcoverage #investing #investors #music #musictech #musictechnology #vinylrecords https://lnkd.in/g3NTkvnf

In 3 weeks' time, on 24 October, Semiconductor Australia 2024 will take place in Sydney. It's the first of its kind in Australia and brings together the cream of the Australian semiconductor crop as well as some key international companies and speakers! 😃 Here’s why this event is such a major occasion and why you should attend, either in-person or online 👍 #ASX #semiconductors #semiconductoraustralia