01 · Challenge
The Challenge
Processa’s market capitalization was lagging despite execution on its business plan. The company had raised enough capital to fund multiple milestones over two years, uplisted to Nasdaq and tripled its total addressable market (TAM), yet its market cap was unchanged. Management wanted to build an investor relations program that would lead to a higher, yet fair, valuation through increased investor outreach and communication.
02 · Solution
Our Solution
- Conducted virtual roadshows with targeted investors including Samjo, CCM (Columbus), Manchester Management, Taglich Brothers, Palm Ventures and Keystone Capital
- Facilitated calls with equity research analysts including Benchmark, Craig-Hallum and National Securities (B. Riley Financial)
- Developed messaging for earnings releases and scripts emphasizing key data points that would drive stock price appreciation, such as the larger TAM and the company’s sufficient capitalization
- Marketed and moderated virtual meetings at the J.P. Morgan conference, including meetings with Benchmark, B. Riley, Canaccord, Cowen, Craig-Hallum, Guggenheim, Ladenburg, LPC Funds, Maxim, Northland, Roth, Jefferies, Oppenheimer and William Blair
03 · Impact
The Impact
- Market cap increased ~200%, from $42M at engagement to $123M post-financing
- The company raised $10M through a PIPE with no discount and no warrants at an $80M market cap, to accelerate and expand clinical development of its product candidates
- Gained equity research coverage from Benchmark Company and Craig-Hallum
- Secured virtual investor conference invitations from Benchmark Company, Craig-Hallum, H.C. Wainwright, Maxim and Jefferies
Past results are not indicative of future performance. Figures are as reported in Hayden IR’s case study for Processa Pharmaceuticals, Inc. See our disclosures.
