WTR Healthcare Happenings

In this episode of WTR Healthcare Happenings, Robert Sassoon, Managing Director and Healthcare Analyst at Water Tower Research, joins host Tim Gerdeman, Co-Founder of Water Tower Research, to discuss his newly published initiation of coverage on PharmAla Biotech Holdings (CSE: MDMA, OTCQB: MDXX).

Robert Sassoon explains how the Toronto-based company built two businesses on a single chemical and regulatory foundation: a commercial supply business shipping clinical-grade GMP MDMA under the Linneo brand to roughly 35 trials worldwide, and a drug development arm engineering next-generation MDXX molecules. Because MDMA itself cannot be patented, the conversation focuses on where the competitive advantage actually sits, in controlled substances licensing, import and export permits, regulator-accepted documentation, and licensed distribution partners in each jurisdiction.

Robert Sassoon also covers the arrangement under which PharmAla supplies product at a discount or at no cost in exchange for perpetual data licenses, the Jupiter Neurosciences transaction for US rights to ALA-002 and what it proved about monetizing the pipeline without dilution, the decision to retain APA-01 in-house, and the pipeline, regulatory, and financial catalysts to watch over the next 12 to 18 months.

For additional content, visit www.watertowerresearch.com.

In this episode of WTR Healthcare Happenings, Robert Sassoon, Managing Director of Healthcare Equity Research at Water Tower Research, joins host Tim Gerdeman to discuss his newly published initiation of coverage on Circular Genomics, a privately held molecular diagnostics company developing blood-based tests using circular RNA (circRNA) biomarkers.

Robert Sassoon explains the science behind circRNA and discusses the company’s Alzheimer’s research published in Nature Medicine in July, including its locked 34-circRNA signature and its potential to complement established biomarkers such as pTau217. The conversation explores why predicting disease progression could be particularly valuable for Alzheimer’s clinical trials, where identifying patients most likely to decline during a study may improve trial efficiency and outcomes.

The discussion also covers Circular Genomics’ staged commercialization strategy, beginning with its CircPATH research-use platform and biopharma partnerships before moving toward clinical diagnostics. Robert Sassoon outlines the key milestones investors should watch, from initial contracts and independent validation to financing, clinical development, and the longer-term commercial opportunity.

For additional content, visit www.watertowerresearch.com.

In this episode of WTR Healthcare Happenings, Robert Sassoon, Managing Director and healthcare analyst at Water Tower Research, joins host Tim Gerdeman to discuss his newly published initiation of coverage on eXoZymes (Nasdaq: EXOZ) and its cell-free biomanufacturing platform.

Robert Sassoon explains how the technology works, the significance of the reported 10-fold productivity improvement in NCT manufacturing, and the next steps toward validating commercial-scale production with CDMO partner Curia Global. The conversation also covers NCT’s potential in the nutraceutical market, the competitive landscape, and the longer-term opportunity to develop novel molecules for pharmaceutical applications through the BioClick platform.

With an NCT product launch targeted for the first half of 2027, Robert Sassoon lays out the commercial, manufacturing, and regulatory milestones investors should watch as eXoZymes moves from pilot-scale validation to commercial execution.

For additional content, visit www.watertowerresearch.com.

In this episode of WTR Healthcare Happenings, Kirk Huntsman, CEO of Vivos Therapeutics (NASDAQ: VVOS), joins WTR healthcare analyst Robert Sassoon and host Tim Gerdeman to break down the company's financial and operational restructuring.

Kirk Huntsman details the work underway to strengthen the balance sheet, including debt reduction, equity requirements, and Nasdaq compliance. The conversation then turns to the operational turnaround, covering rising patient referrals, expanded capacity in Nevada, and AI-driven cost efficiencies.

Kirk Huntsman also discusses new revenue streams including EEG testing, remote patient monitoring, and the DME-based CPAP program, along with plans to expand the sleep center network through partnerships such as the South Florida cardiology initiative. The discussion closes on Vivos' path to positive cash flow and the revenue and cost-control drivers supporting it.

For additional content, visit www.watertowerresearch.com.

In this episode of WTR Healthcare Happenings, Natural MedTech CEO and Co-Founder Luke McFarlane joins WTR healthcare analyst Robert Sassoon and Shawn Severson to discuss the company's biosynthetic psilocybin manufacturing platform and its position within Australia's evolving psychedelic medicine landscape. The conversation covers the authorized prescriber pathway, including adoption trends, treatment costs, regulatory developments, and early insurer engagement. McFarlane walks through NMT's proprietary biosynthesis platform, its competitive advantages in cost and purity, the ongoing Series A raise, and the case for local manufacturing. The episode also explores AI's role in drug development, the importance of wet-lab data, NMT's views on drugs-for-data models, and the company's long-term ambitions within the pharmaceutical value chain. 

In this episode, Cannara Biotech COO and Interim CFO Nick Sosiak joins WTR's Linda Bolton Weiser and Tim Gerdeman to discuss the company's expansion following the announcement of a long-term international supply agreement with Curaleaf carrying a potential aggregate value of up to C$21 million. The conversation covers Cannara's differentiated approach within the cannabis industry, the market positioning of its three brands, the scale advantages of its two Quebec mega-facilities, growing room economics, the current state of the Canadian cannabis market, the role of innovation in driving share gains, and the path to reaching maximum annual production capacity of 100,000 kg. 

In this episode of WTR Healthcare Happenings, Oncolytics Biotech CEO Jared Kelly joins WTR's Tim Gerdeman and healthcare analyst Robert Sassoon to discuss the company's progress advancing pelareorep, its investigational oncolytic virus immunotherapy for difficult-to-treat gastrointestinal cancers. The conversation covers the significant unmet need in RAS-mutated colorectal, pancreatic, and anal cancers — tumor types that have largely not benefited from the immunotherapy advances seen in other cancers — and how pelareorep's systemically delivered mechanism selectively targets tumor cells while stimulating an anti-cancer immune response. Kelly also walks through recent clinical results, upcoming data readouts, regulatory progress, and Oncolytics' strategy to advance registration-directed colorectal cancer studies while pursuing partnership opportunities to support future development and commercialization. 

In this episode of WTR Healthcare Happenings, Doug Drysdale, biopharma veteran and founder of Katagen, former CEO of Cybin (now Helus Pharma), joins WTR's Tim Gerdeman and analyst Robert Sassoon to explore whether psychedelic medicine has moved from speculative niche to mainstream therapeutic category. The discussion covers Eli Lilly's $2.8 billion upfront acquisition of Atai Beckley and whether the price was fair on both sides, the broader shift of M&A capital toward CNS and neurology assets over oncology, and why Atai may have been the only available late-stage asset given Compass Pathways' stand-alone positioning, GH Research's clinical challenges, and Helus Pharma's early-stage data. It closes with Drysdale's critique of the FDA's final guidance, particularly its emphasis on active comparators and year-long placebo control, and the resulting case for non-hallucinogenic neuroplastogens. 

Dr. Elazar Sonnenschein, Founder and CEO of Pulsenmore Ltd. (Nasdaq and Tel Aviv: PLSM), joins host Tim Gerdeman and WTR equity research analyst James Kisner on this episode of the WTR Healthcare Happenings Podcast. Pulsenmore has built the first FDA De Novo–authorized, prescription home-use prenatal ultrasound, allowing expectant mothers to capture images on a handheld device for remote physician review.

Sonnenschein walks through the company’s journey from concept to creating an entirely new regulatory category, what it takes to deliver a home scan clinicians can trust, and how years of real-world use shaped the platform. The conversation explores Pulsenmore’s U.S. commercial launch, its proving ground in Israel, and a broader women’s health strategy that now extends into fertility and IVF monitoring. He also shares his perspective on scaling the business and what investors should be watching over the year ahead.

In this episode of WTR Healthcare Happenings, host Tim Gerdeman is joined by healthcare equity research analyst Robert Sassoon to discuss the rebound in biotech and pharma M&A. Robert explains why 2026 is shaping up as the strongest M&A environment since 2019, with 35 disclosed-value deals totaling roughly $97 billion in just over six months.  The discussion covers rising deal sizes, the patent cliff, a more permissive antitrust backdrop, improved drug-pricing clarity, pharma’s estimated $2.1 trillion in acquisition capacity, and better financing conditions. Tim and Robert also examine the types of clinical-stage assets attracting buyers, key therapeutic areas including oncology, immunology, metabolic disease, CNS, and the growing role of China and AI-driven drug discovery in the next wave of transactions.