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Stonegate Updates Coverage on Burcon Nutrascience Corporation (TSX: BU) 4Q26

Burcon has moved from commissioning and into early utilization, with growing customer volume setting up better fixed-cost absorption at Galesburg. The Company completed commissioning and launched commercial production across Peazazz pea protein, Puratein C canola protein, and FavaPro fava protein in FY26. Revenue increased sequentially to $0.83M in 4Q26 from $0.74M in 3Q26, and management […]

Stonegate Capital Partners Updates Coverage on Seabridge Gold Inc. (NYSE: SA) 1Q26

Seabridge Gold is moving through a catalyst-dense phase as KSM partnership discussions advance alongside FS preparation, BC permitting support, the Valor Gold spin-out, and the maiden Snip North resource. Quarterly financials remain secondary, though SA ended 1Q26 with C$126.9M of cash and raised C$35.8M through its ATM program. In our view, SA is increasingly converting […]

Stonegate Capital Partners Updates Coverage on Incannex Healthcare Inc. (NasdaqGM: IXHL) 3Q26

IXHL’s 3Q26 results and subsequent clinical update move IHL-42X from Phase 2 validation toward dose-optimization execution ahead of Phase 3. The key change is the start of DReAMzz, a crossover study designed to refine the dronabinol/acetazolamide ratio, incorporate FDA feedback, and strengthen the Phase 3 protocol before larger late-stage capital is committed. For investors, the […]

Stonegate Capital Partners Updates Coverage on Hooker Furniture Corporation (NASDAQ: HOFT) 1Q27

HOFT reported revenue, operating income, and adj EPS of $69.5M, $1.6M, and $0.10, respectively. This compares to our/consensus estimates of $71.8M/$66.3M, ($0.6)M/($0.9)M, and ($0.04)/($0.07). HOFT reported 1Q27 revenue was down 2.4% y/y, as softer Hooker Branded and Domestic Upholstery sales were partially offset by higher hospitality shipments. The key read-through is that last year’s portfolio […]

Stonegate Capital Partners Initiates Coverage on Creative Media & Trust Corp. (NASDAQ: CMCT)

CMCT’s 1Q26 update shifts the story from balance sheet repair to FFO conversion. Reported results remained noisy given the late-quarter preferred redemption, but the Company has now redeemed $396.2M of preferred stock since September 2024, sold First Western, retired its recourse credit facility, and moved closer to its long-term target capital structure. The March redemption […]

Stonegate Capital Partners Updates Coverage on Cingulate Inc. (NASDAQ: CING) 1Q26

Cingulate’s latest update shifts the near-term CTx-1301 setup from a PDUFAdriven approval event to a CMC-driven resubmission process, while leaving the core product thesis intact based on the information disclosed. The FDA issued a Complete Response Letter for the CTx-1301 NDA focused on specific CMC information requests, with no current clinical safety or efficacy concerns […]

Stonegate Capital Partners Initiates Coverage on SES AI Corp. (NYSE: SES)

SES’ 1Q26 update further shifts the story from EV battery development toward a commercialization model led by ESS, with drone cells, materials, and Molecular Universe adding clearer 2H26/2027 revenue paths. Revenue beat expectations, though Q1 benefited from ~$1.5M of 4Q25 revenue shifting into the period, so the better read is not run-rate extrapolation but improved […]

Stonegate Capital Partners Initiates Coverage on Postal Realty Trust Inc. (NYSE: PSTL)

PSTL’s 1Q26 update improved the setup by increasing forward revenue visibility and accelerating acquisition capacity at the same time. In our view, the thesis is becoming easier to underwrite, as the lease platform is producing clearer internal growth through mark-to-market resets and escalators, while improved capital access is adding a more active external growth leg. […]

Stonegate Capital Partners Updates Coverage on Seabridge Gold Inc. (NYSE: SA) 1Q26

AB Science’s latest update narrows the story around two priorities: masitinib in ALS and AB8939 in AML. The key change is not FY25 revenue, but clearer capital allocation, a more defined ALS Phase 3 setup, and a firm CTFI offer that adds potential risk-sharing around AB23005. MS and AD remain meaningful upside, but are now […]

Stonegate Capital Partners Updates Coverage on Seabridge Gold Inc. (NYSE: SA) 1Q26

Seabridge Gold is moving through a catalyst-dense phase as KSM partnership discussions advance alongside FS preparation, BC permitting support, the Valor Gold spin-out, and the maiden Snip North resource. Quarterly financials remain secondary, though SA ended 1Q26 with C$126.9M of cash and raised C$35.8M through its ATM program. In our view, SA is increasingly converting […]

AN TRAN SHELMIRE

Research Analyst

SAVANNAH BEAVER

TOM BAKER

Senior Advisor, IR & Communications

Tom is the CEO and cofounder of Reportable, a corporate communications and competitive intelligence software and service. Reportable is helping companies across all industries ranging from top venture-backed startups to publicly traded Fortune 500 companies. Tom has more than 20 years of experience working in corporate communications and investor relations for biotech and medical device companies. Tom graduated UCSD with a B.S. in Pharmacological Chemistry. An avid surfer, Tom grew up in San Diego and currently lives in the Boston area with his wife Melissa and 3 young boys.

LOUISE SHELMIRE

Compliance Advisor

Louise has been employed at Stonegate Capital Markets since 2018 as an independent contractor for compliance functions. Louise was previously with Tradestar Investments and Stockcross Financial Services. She has served as a Sales manager and Compliance Principal. Louise graduated with a BA from Louisiana State University. She currently holds FINRA Series 7, 63, 24, 53, 4, 65 and 9/10 licenses and is currently on a roster available to serve as a FINRA arbitrator.

TABER WETZ

M&A Due Diligence

Taber is a seasoned finance executive with relevant experience in corporate finance, mergers and acquisitions (M&A), and system implementations. He specializes in helping small and midsize companies grow by developing actionable recommendations for operational improvement. Taber has held senior roles such as CFO and COO for public companies ranging from $1 million to $100 million, and President of a merchant bank that raised over $75 million for an alternative energy startup. He earned his BS in Finance/Accounting from Oklahoma State University. Additionally, Taber has led four reverse mergers into public markets, developed and raised over $75 million in seasoned offerings, and successfully implemented POS and accounting systems for multiple companies. His expertise includes financial planning, risk management, and business development, driving significant growth and operational efficiency.

CHRIS GAUVIN

M&A Due Diligence

Chris is a strategic finance executive with extensive experience in accounting, finance, information systems, and strategy. He specializes in helping small and medium-sized companies grow by clarifying strategic vision and creating scalable processes. Chris has held senior roles such as Divisional CFO for a $200 million P&L, VP of Finance at a healthcare startup, and Director of M&A for a $1.5 billion public entity. He earned his Master of Accounting from The University of Texas at Austin and a BBA from Carleton University in Ottawa, Canada. Chris has led financial planning models for companies scaling rapidly, managed over 250 business valuation and due diligence transactions, and spearheaded strategic planning processes for entities with revenues exceeding $1 billion.

PAUL WHITLEY

Strategic Advisor, Stonegate Inc.

Managing Member CFO / COO / CRO
C‐Suite Support Inc.

Paul is a strategic Fractional CFO and Transformational Technology Leader. He joined Stonegate Capital Partners in 2024. His primary responsibilities include driving business growth through financial, operational, and digital transformation initiatives, as well as implementing quality of earnings assessments, preparing Confidential Information Memorandums (CIM), and providing valuation methodologies. Paul previously held senior roles in various high-profile companies, including Senior VP at a $2 billion hedge fund and CFO/COO at a $180 million public company. He earned his MBA in Internet Technology and E-Commerce from the University of Dallas and a BBA in Finance/Accounting from the University of North Texas. Paul is also known for his extensive experience in growing and sustaining shareholder value, system implementations, and mergers and acquisitions.

BOLTON CORWIN

Analyst, M&A Group

Bolton joined Stonegate in 2024. He attended the University of Oklahoma and studied in the school of Business. Bolton works with the Stonegate’s M&A group, interacting with private equity firms and family offices on Stonegate’s buy-side and sell-side transactional business.

NOAH WANJA

Associate, Institutional Sales

Noah is an associate on the institutional sales desk. He joined Stonegate in 2026. He graduated from Baylor University with a degree in Finance and Entrepreneurship/Corporate Innovation.

Maximus Alexander-Nino

Analyst, Equity Research

Maximus joined our equity research group in 2026. Prior to Stonegate, he was an analyst at Raymond James and served six years in the Florida Army National Guard. Maximus graduated from the University of South Florida with a BS in Finance. He holds the SIE and Series 99 licenses, has passed Level I of the CFA Program, and plans to continue pursuing the CFA designation.

William Stetson

Associate, Institutional Sales

Will is an associate on the institutional sales desk. He joined Stonegate in 2026. He graduated from Texas Tech University with a degree in finance. Before joining Stonegate, he interned at Compass Group USA and played College Football at Kenyon College.

LAURA ENGEL, CPA

Senior Advisor,
Research

Laura joined Stonegate in 2011. Her background spans over 20 years in financial services, having held diverse roles in public and private accounting, consulting, and executive leadership. She has broad industry experience within the healthcare, medical technology, and private equity sectors among others, partnering with high-growth organizations as a senior financial officer and consultant. She graduated from the University of Virginia and is a Certified Public Accountant (CPA).

QUENTIN HARRAH

VP, Institutional Sales

Quentin is a Vice President. He joined Stonegate in 2021. He graduated from Louisiana State University with degrees in marketing and professional sales.

JUSTIN MARTIN

Managing Director,
Institutional Sales & ESG Advisory

Justin is a managing director and helps lead the institutional sales effort. He also advises issuers on ESG rating policies and best practices. He joined Stonegate in 2012 and graduated from Auburn University with a Bachelor of Science in Finance. Justin is licensed with Stonegate Capital Markets, Inc. and currently holds FINRA Series 7, 63, and 79 licenses.

ZACH AMREIN

Head of
Business Development, CCO & CFO

Zach is the Head of business development, Chief Compliance Officer, and our CFO. He joined Stonegate in 2016. He formerly worked in Finance at Legacy Housing. He graduated from the University of Kansas with degrees in Finance and Accounting. Zach is licensed with Stonegate Capital Markets, Inc. and currently holds FINRA Series 7, 24, and 27 licenses. 

DAVE STORMS, CFA

Director of Research
Stonegate Capital Partners

Dave joined Stonegate in 2022. He was most recently an equity research analyst at Goldman Sachs. He was formerly a Senior investment analyst at Beneficial Financial Group, an analyst at Valuation Research Corporation, and an investment analyst with The Board of Pensions (PCUSA) focused on public equities. He started his career at Vanguard after receiving his undergraduate degree from Rowan University and a Masters in investment management from Temple University. David is licensed with Stonegate Capital Partners and currently holds FINRA Series SIE, 7, 87.

PRESTON GRAHAM

Partner
Stonegate Capital Partners

Preston joined Stonegate in 2010. His primary responsibilities include managing the sales desk, overseeing our institutional outreach effort, and advising clients on capital markets strategy. He graduated from Santa Clara University with a degree in finance. Preston is licensed with Stonegate Capital Markets, Inc. and currently holds FINRA Series 7, 63, 79, and 99 licenses.

JESSE SHELMIRE

Co-CEO, Partner
Stonegate Capital Partners

Jesse is Co-CEO/Partner of Stonegate Capital Partners/Stonegate Capital Markets(Member FINRA/SIPC), and a Co-Founder of Stonegate Healthcare Partners. Jesse spent the first decade of his investment career in 1981 at Smith Barney in retail sales and then later at Jefferies in institutional sales. In the mid-90’s, Jesse was the Managing Director of Investment Banking for First London Securities where he managed public and private transactions. In 1999, Jesse joined Stonegate where he’s managed ~100 transactions and currently provides advisory services for both public and private companies with a focus on healthcare. Jesse received his Bachelor of Science in Economics in 1979 from The Wharton School of Business at the University of Pennsylvania. Jesse is licensed with Stonegate Capital Markets and currently holds FINRA Series 7,24, 63, 79, 99 licenses.

SCOTT GRIFFITH

Co-CEO, Partner
Stonegate Capital Partners

Scott joined Stonegate in 1992 and is a co-owner of Stonegate. Prior to joining Stonegate, Scott was a Vice-President at Donaldson, Lufkin, & Jenrette from 1980 to 1988 and a Vice-President at Smith Barney from 1988 to 1992. He received his Bachelor of Science in Marketing from Florida State University in 1979. Scott is licensed with Stonegate Capital Markets and currently holds FINRA Series 7, 14, 24, 63, 79, 99 licenses.