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    Matt Hewitt

    Senior Research Analyst at Craig-Hallum Capital Group LLC

    Matt Hewitt is a Senior Research Analyst at Craig-Hallum Capital Group LLC, specializing in healthcare equity research with a focus on healthcare IT, specialty pharmaceuticals, generics, and regenerative medicine companies. As an analyst, he has covered public companies such as Alpha Teknova and Clover Health, providing actionable industry insights and published investment ratings, including noted Buy recommendations. Hewitt began his analyst career at Craig-Hallum in January 2006, after seven years at Advantus Capital Management and earlier experience in software and technology research, and holds both a B.A. and an MBA from the University of St. Thomas. He is recognized for over 15 years of tenure at Craig-Hallum and is professionally registered with FINRA, holding customary securities licenses for his role in equity research.

    Matt Hewitt's questions to BIOHARVEST SCIENCES (BHST) leadership

    Matt Hewitt's questions to BIOHARVEST SCIENCES (BHST) leadership • Q2 2025

    Question

    Asked about the consumer products division, specifically the progress of the '2x2' chews and the upcoming hydration product launch. Also inquired about the CDMO pipeline, the status of the Tate and Lyle partnership, and the potential impact of Israeli tariffs.

    Answer

    The CEO confirmed phenomenal feedback and strong reviews for the 2x2 chews, which are building momentum. The new hydration product is a powdered stick pack targeting the $4B electrolyte market with a unique blood-flow-powered proposition. The CDMO pipeline is significant, with 1-2 new deals expected by year-end, and the Tate and Lyle partnership is strengthening. The 15% Israeli tariff has been factored into planning and is considered manageable.

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    Matt Hewitt's questions to Schrodinger (SDGR) leadership

    Matt Hewitt's questions to Schrodinger (SDGR) leadership • Q2 2025

    Question

    Taltz, on for Matt Hewitt at Craig-Hallum, asked if the company was still experiencing 'level pegging' where customer spending increases were offset by decreases from other customers.

    Answer

    CEO Ramy Farid corrected the premise, stating that it is very rare for a customer to decrease spending and that the company generally sees increases of varying sizes. CFO Richie Jain reinforced this by noting a 100% retention rate for customers with contracts over $500,000.

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    Matt Hewitt's questions to OABI leadership

    Matt Hewitt's questions to OABI leadership • Q1 2025

    Question

    Speaking on behalf of Matt Hewitt, an analyst named Tal asked how the recent FDA decision to move away from animal testing requirements might affect OmniAb's business prospects, particularly with the rollout of the exploration platform.

    Answer

    Matthew Foehr, President and CEO, clarified that the FDA's guidance relates to toxicology screening, which is distinct from OmniAb's use of transgenic animals for antibody discovery. He framed the FDA's move as a potential net positive for the industry and OmniAb, as it could streamline timelines and lower costs for partners to advance antibody-based medicines into clinical trials, potentially increasing demand for antibody modalities.

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    Matt Hewitt's questions to OABI leadership • Q3 2024

    Question

    An analyst on behalf of Matt Hewitt asked if OmniAb is observing increased caution from partners due to the biotech funding environment and requested an outlook on the potential number of new clinical entries for 2025.

    Answer

    CFO Kurt Gustafson acknowledged the industry pressures and volatility but highlighted that OmniAb's key metrics, including new deals and program starts, remain strong. CEO Matt Foehr added that during portfolio realignments, partners often seek best-in-class platforms like OmniAb. Regarding 2025, Foehr pointed to the 20 preclinical assets as the pool for future clinical entries, noting more clarity would likely emerge after the JPMorgan conference in January.

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    Matt Hewitt's questions to CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) leadership

    Matt Hewitt's questions to CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) leadership • Q1 2025

    Question

    Matt Hewitt inquired about the initial implementations of Counterpart Health, asking for feedback from partners and the key performance metrics being tracked. He also asked about shifts in the competitive landscape, including whether peers are adopting similar models or if new entrants are emerging.

    Answer

    CEO Andrew Toy explained that the goal for Counterpart is to replicate the value seen in Clover's own MA plan, focusing on KPIs like physician engagement, earlier disease diagnosis, and HEDIS score improvements, with initial data being optimistic. He also noted that Clover's software-backed, wide PPO network model remains a key differentiator, observing that some competitors are pulling back on PPO benefits while Clover is staying its course.

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    Matt Hewitt's questions to CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) leadership • Q4 2024

    Question

    An analyst on behalf of Matt Hewitt asked for more color on the company's expectations for the continued growth of its home care arm in 2025 and beyond.

    Answer

    CEO Andrew Toy described the home care program as an 'anchor stone' of Clover's strategy for managing the total cost of care for its most vulnerable members. He confirmed plans to invest more in the program, expand the team, and increase its geographic reach to drive MCR improvements, though he did not provide specific growth guidance.

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    Matt Hewitt's questions to Apyx Medical (APYX) leadership

    Matt Hewitt's questions to Apyx Medical (APYX) leadership • Q4 2024

    Question

    Asked about the drivers behind the successful direct-to-consumer (DTC) campaign and the reasons for the performance disparity between domestic and international markets.

    Answer

    The DTC campaign's success is attributed to a new PR partner hired in early 2024 and its alignment with the growing market need for post-GLP-1 weight loss skin tightening. The stronger domestic performance is due to the earlier adoption of GLP-1 drugs in the U.S., a trend expected to replicate internationally, positioning the company for future global growth.

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    Matt Hewitt's questions to Apyx Medical (APYX) leadership • Q3 2024

    Question

    Inquired about the company's strategy for returning to growth in 2025, particularly regarding marketing and pricing, and asked for clarification on the new Ayon system's relationship with the existing Renuvion product and potential for cannibalization.

    Answer

    The company is focusing on an expanded direct-to-consumer marketing campaign to drive growth in 2025. The new Ayon system is not a replacement for Renuvion but an integrated platform that requires the Apyx One generator, thus encouraging upgrades rather than cannibalization. It combines and improves upon multiple body contouring technologies in a single, efficient unit.

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    Matt Hewitt's questions to CDMO leadership

    Matt Hewitt's questions to CDMO leadership • Q1 2025

    Question

    Asked about the potential impact of the Biosecure Act on business conversations and whether the typical seasonal facility shutdown would be less pronounced this year due to new equipment.

    Answer

    The executive noted an increase in conversations related to the Biosecure Act, viewing it as a potential positive for a US-based CDMO. Regarding the seasonal shutdown, they advised not to expect a significant reduction this year as the new facilities still require maintenance, though long-term reductions are being explored.

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    Matt Hewitt's questions to CDMO leadership • Q3 2024

    Question

    Asked for more detail on the customer decision-making process related to the Catalent and BIOSECURE situations and inquired about the pipeline and timeline for the new cell and gene therapy facility.

    Answer

    Executives explained that switching CDMOs is a complex process that can take 3-6 months, but they are seeing motivation for serious conversations. For the cell and gene therapy facility, they are seeing an improving pipeline of opportunities, similar to the mammalian business but lagging by a quarter or two, and feel optimistic about its prospects.

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    Matt Hewitt's questions to CDMO leadership • Q2 2024

    Question

    Asked for details about a new cell and gene therapy (CGT) contract and its origin, and also requested an update on a previously mentioned business win from a large pharma customer.

    Answer

    The new CGT contract is for an early-stage process development project and was not sourced through the CIRM partnership. The executive stated that all business with large pharma and from competitors is progressing well, without recalling a specific 'competitive displacement' win.

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    Matt Hewitt's questions to InfuSystem Holdings (INFU) leadership

    Matt Hewitt's questions to InfuSystem Holdings (INFU) leadership • Q2 2024

    Question

    Inquired about the anticipated financial impact of the NOPAIN Act once it becomes effective, and asked for an update on the company's share repurchase activity during the quarter.

    Answer

    The NOPAIN Act is expected to be a revenue driver by incentivizing physicians to adopt non-opioid pain management solutions, which should increase customer volume for InfuSystem. The company repurchased a small amount of stock, approximately 40,000 shares for over $200,000, during the quarter.

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    Matt Hewitt's questions to Adicet Bio (ACET) leadership

    Matt Hewitt's questions to Adicet Bio (ACET) leadership • Q1 2019

    Question

    Matt Hewitt inquired about the sustainability of the strong performance in the Nutritionals business, the process for reactivating 'parked' products in the Rising pipeline, the timeline for the reduction in back-ordered SKUs, and the breakdown of headwinds in the Human Health segment between pricing and volume.

    Answer

    President and CEO Bill Kennally explained that the Nutritionals business performance, driven by pricing and new business in Europe, is expected to continue. He clarified that 'parked' products, which can be both unfiled ANDAs or previously launched products, are being brought back online as market conditions improve or due to FDA actions. He noted the reduction in back-orders from 20% to 4% of SKUs occurred since Q3 of the prior fiscal year. Regarding Human Health, he stated that while volumes at Rising increased, significant price erosion, worsened by a new competitor for a large product, negatively impacted results, though he noted pricing declines are beginning to soften.

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    Matt Hewitt's questions to Adicet Bio (ACET) leadership • Q3 2018

    Question

    Matt Hewitt of Craig-Hallum Capital Group inquired about the cause of the failure-to-supply penalty, manufacturing challenges with Lucid/Citron, generic product portfolio rationalization, potential clawbacks related to the VA contract issue, and the performance disparity between international and domestic API markets.

    Answer

    President and CEO Bill Kennally confirmed the failure-to-supply penalty was due to manufacturing issues, including a rebuilt supply chain team and partner capacity constraints. He also detailed the complex VA compliance issue and the company's appeal. COO Walt Kaczmarek added that the company continuously evaluates its product portfolio and explained that domestic API softness was due to specific product discontinuations, while international strength was from timing and new business.

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    Matt Hewitt's questions to Adicet Bio (ACET) leadership • Q2 2018

    Question

    Matt Hewitt of Craig-Hallum Capital Group asked about the criteria for discontinuing unprofitable products within the legacy Rising portfolio, the priority level of vertical integration through in-house manufacturing, and the company's capital allocation strategy for future cash flow between debt reduction and acquisitions.

    Answer

    President and CEO Bill Kennally explained that product discontinuation is a complex decision, influenced by long-term profitability trends and existing partner agreements for product portfolios. He emphasized that vertical integration and owning intellectual property is a "high priority" to increase control and gross profit. Regarding cash flow, Kennally stated the company plans to do both: pay down debt and pursue strategic asset acquisitions.

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