Ladenburg Thalmann Co. Inc. Research Universe (as …

1 Ladenburg Thalmann Co. Inc. Research Universe (as of July 27, 2018). ~ Please refer to important disclosure information on the last page of this Universe ~. EPS $ EPS $ EPS $ EPS $ Market Cap Price Company Symbol Rating Close Price $ Fiscal Year End FY17(A) FY18(E) FY19(E) FY20(E) ($ millions). Target($). Jeffrey S. Cohen , email: Healthcare Biotechnology Tenax Therapeutics, Inc. TENX BUY December ( ) ( ) ( ) 10 Healthcare Equipment Amedica Corporation AMDA NEUTRAL December ( )E ( ) ( ) 2 Avinger, Inc. AVGR BUY December ( ) ( ) ( ) ( ) 9 CHF Solutions, Inc. CHFS BUY December ( ) ( ) ( ) ( ) 11 ChromaDex Corporation CDXC BUY December ( ) ( ) ( ) 254 Corindus Vascular Robotics, Inc.

2 CVRS BUY December ( ) ( ) ( ) 200 CryoLife, Inc. CRY BUY December 1,136 Dynatronics Corp. DYNT BUY June ( ) ( ) ( ) 23 InVivo Therapeutics Holdings Corp. NVIV BUY December ( ) ( ) ( ) ( ) 4 Mazor Robotics Ltd. MZOR BUY December ( ) 1,676 Microbot Medical Inc. MBOT BUY December ( ) ( ) ( ) ( ) 28 Neovasc, Inc. NVCN BUY December ( ) ( ) ( ) 63 Opsens Inc. OPS BUY August ( ) ( ) ( ) ( ) 81 Orthofix International OFIX BUY December 1,133 ReShape Lifesciences Inc. RSLS BUY December ( ) ( ) ( ) ( ) 6 SeaSpine Holdings Corporation SPNE BUY December ( ) ( ) ( ) ( ) 179 TransEnterix, Inc. TRXC NEUTRAL December ( ) ( ) ( ) 1,128 Viveve Medical, Inc.

3 VIVE BUY December ( ) ( ) ( ) ( ) 80 Zynex, Inc. ZYXI BUY December 95 Life Sciences Tools & Services Celsius Holdings, Inc. CELH BUY December ( ) ( ) ( ) 229 The closing price is as of the prior business day's close Bi-Annual EPS numbers. Denotes Institutional Clients Only. Estimates are FFO, not EPS. Estimates are NII per share, not EPS. * : EPS values are in Euros Page 1. Ladenburg Thalmann Co. Inc. Research Universe (as of July 27, 2018). ~ Please refer to important disclosure information on the last page of this Universe ~. EPS $ EPS $ EPS $ EPS $ Market Cap Price Company Symbol Rating Close Price $ Fiscal Year End FY17(A) FY18(E) FY19(E) FY20(E) ($ millions).

4 Target($). Kevin DeGeeter , email: Healthcare Biotechnology and Diagnostics ADMA Biologics, Inc. ADMA BUY December ( ) ( ) ( ) 322 Aviragen Therapeutics, Inc. AVIR NEUTRAL NA June ( ) ( ) NA NA. BioTime, Inc. BTX BUY December ( ) ( ) ( ) 311 Catalyst Biosciences, Inc. CBIO BUY December ( ) ( ) ( ) 118 Cidara Therapeutics, Inc. CDTX BUY December ( ) ( ) ( ) 125 ContraFect Corporation CFRX BUY December ( ) ( ) ( ) 161 Curetis * BUY December ( ) ( ) ( ) 74 Exact Sciences Corporation EXAS NEUTRAL December ( ) ( ) ( ) ( ) 7,547 NA. Genomic Health Inc. GHDX NEUTRAL December ( ) 1,989 NA. Interpace Diagnostics Group, Inc.

5 IDXG BUY December ( ) ( ) ( ) 30 Invitae Corporation NVTA BUY December ( ) ( ) ( ) 585 Kindred Biosciences, Inc. KIN BUY December ( ) ( ) ( ) 454 Melinta Therapeutics Inc. MLNT BUY December ( ) ( ) ( ) 302 Mesoblast Ltd. MESO BUY June ( ) ( ) ( ) 651 Molecular Templates, Inc. MTEM BUY December ( ) ( ) ( ) 143 Novavax, Inc. NVAX BUY December ( ) ( ) ( ) 462 Opko Health, Inc. OPK BUY December ( ) ( ) ( ) 2,781 Paratek Pharmaceuticals, Inc. PRTK BUY December ( ) ( ) ( ) 330 Synergy Pharmaceuticals Inc. SGYP BUY December ( ) ( ) ( ) 424 VBI Vaccines, Inc. VBIV BUY December ( ) ( ) ( ) 144 Vericel Corporation VCEL BUY December ( ) ( ) ( ) 429 The closing price is as of the prior business day's close Bi-Annual EPS numbers.

6 Denotes Institutional Clients Only. Estimates are FFO, not EPS. Estimates are NII per share, not EPS. * : EPS values are in Euros Page 2. Ladenburg Thalmann Co. Inc. Research Universe (as of July 27, 2018). ~ Please refer to important disclosure information on the last page of this Universe ~. EPS $ EPS $ EPS $ EPS $ Market Cap Price Company Symbol Rating Close Price $ Fiscal Year End FY17(A) FY18(E) FY19(E) FY20(E) ($ millions). Target($). Jon R. Hickman , email: Consumer Discretionary Advertising Dolphin Entertainment, Inc. DLPN BUY December 40 Inuvo, Inc. INUV BUY December 22 IZEA, Inc.

7 IZEA BUY December ( ) ( ) 14 SITO Mobile, Ltd. SITO BUY December ( ) 59 Financials Multi-Sector Holdings The Herzfeld Caribbean Basin Fund, Inc. CUBA BUY June 41 Multi-Sector Holdings Closed End Funds Firsthand Technology Value Fund SVVC BUY December 101 GSV Capital Corp. GSVC BUY December 147 Healthcare Life Sciences Tools & Services Calyxt, Inc. CLXT BUY December ( ) ( ) ( ) ( ) 548 Yield10 Bioscience, Inc. YTEN BUY December ( ) ( ) ( ) ( ) 14 Industrials Information Technology Computer Storage & Peripherals ZAGG Incorporated ZAGG BUY December 461 Electrical Components Energous Corporation WATT BUY December ( ) ( ) 362 ParkerVision, Inc.

8 PRKR BUY December ( ) 18 Internet Software & Services Yatra Online, Inc. YTRA BUY March ( ) ( ) 246 Telecom Services Wireless Telecom & Services Boingo Wireless, Inc. WIFI BUY December 954 Digital Turbine, Inc. APPS BUY March ( ) ( ) 105 iPass, Inc. IPAS BUY December ( ) ( ) 26 The closing price is as of the prior business day's close Bi-Annual EPS numbers. Denotes Institutional Clients Only. Estimates are FFO, not EPS. Estimates are NII per share, not EPS. * : EPS values are in Euros Page 3. Ladenburg Thalmann Co. Inc. Research Universe (as of July 27, 2018). ~ Please refer to important disclosure information on the last page of this Universe ~.

9 EPS $ EPS $ EPS $ EPS $ Market Cap Price Company Symbol Rating Close Price $ Fiscal Year End FY17(A) FY18(E) FY19(E) FY20(E) ($ millions). Target($). Michael Higgins , email: Healthcare BioPharmaceuticals Eiger BioPharmaceuticals Inc. EIGR BUY December ( ) ( ) 144 Flex Pharma Inc. FLKS NEUTRAL December ( ) ( ) ( ) 15 NA. Intec Pharma Ltd. NTEC BUY December ( ) ( ) ( ) 146 Marinus Pharmaceuticals, Inc. MRNS BUY December ( ) ( ) ( ) 300 Ovid Therapeutics, Inc. OVID BUY December ( ) ( ) ( ) 237 Palatin Technologies, Inc. PTN BUY June ( ) 195 SAGE Therapeutics Inc. SAGE BUY December ( ) ( ) ( ) 7,100 Savara Inc.

10 SVRA BUY December ( ) ( ) ( ) 401 SCYNEXIS Inc. SCYX BUY December ( ) ( ) ( ) 80 Zynerba Pharmaceuticals Inc. ZYNE BUY December ( ) ( ) ( ) 127 The closing price is as of the prior business day's close Bi-Annual EPS numbers. Denotes Institutional Clients Only. Estimates are FFO, not EPS. Estimates are NII per share, not EPS. * : EPS values are in Euros Page 4. Ladenburg Thalmann Co. Inc. Research Universe (as of July 27, 2018). ~ Please refer to important disclosure information on the last page of this Universe ~. EPS $ EPS $ EPS $ EPS $ Market Cap Price Company Symbol Rating Close Price $ Fiscal Year End FY17(A) FY18(E) FY19(E) FY20(E) ($ millions).