thank you
RX is a small-cap company that develops and sells pharmaceutical products and is now trading at 16.1x times' Forward P/E. In the last five years, sales growth was around 7% on average, driven mainly through internal R&D, as the company did not do any acquisitions during that period. The balance sheet is strong, with a net cash of $29M, excluding the cash, RX is trading at around 12x Forward P/E. The company started repurchasing shares recently at a more aggressive pace, and we like the policy given the cash balance and healthy cash generation. Overall, it is a quite cheap name. We like it, but investors should mindful about the size and liquidity risk here as market cap is only $100M. It started a dividend in 2022 and yields 1.9%. Insiders own 14% and FAX Capital owns 17%. Only own firm (Bloom) covers the stock. The 3Q was solid, with EPS up 67%.