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    Eric Ramos • Titan Capital Management

    Eric Ramos is an equity research analyst at Titan Capital Management, specializing in investment research and portfolio management as part of the Cal State Fullerton Titan Capital Management program. Notably, he contributed to the team’s first-place finish at the 2024 CFA Los Angeles Regional Research Challenge, where they prepared detailed analysis on firms including Air Lease Corp. Ramos has demonstrated strong research and analytical capabilities through the Student Managed Investment Fund with a track record of academic achievement and competitive success. He joined Titan Capital Management as a student analyst and has developed his expertise through hands-on fund management, comprehensive company coverage, and industry presentations, building toward a career in asset management.

    Eric Ramos's questions to Nexgel Inc (NXGL) leadership

    Eric Ramos's questions to Nexgel Inc (NXGL) leadership • Q1 2025

    Question

    Eric Ramos from Titan Capital Management asked about the magnitude of the inventory build-up related to potential tariffs, inquiring if it occurred post-quarter. He also questioned the company's future financing plans, asking if equity remains the primary option or if alternatives like convertible notes are being considered. Finally, he sought clarity on the baseline revenue run-rate expected from the AbbVie deal and the remaining production capacity at the company's facility.

    Answer

    Executive Adam Levy responded that the inventory build occurred within Q1, providing a buffer to assess the tariff situation, which now seems manageable at a 35% rate. On financing, Levy stated a preference to avoid debt until the company is EBITDA positive, at which point options like revolvers become attractive. He confirmed AbbVie's aggressive plan for machine rollouts, which represents a significant, long-term revenue opportunity that would increase facility utilization, but noted that NEXGEL currently has ample production capacity to handle it.

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