Aug. 15 at 5:43 PM
$NAGE CEO spent the earnings call seeding a takeout narrative. 4 buyer universes:
🛒 CPG (Thorne/PG
$3.8B comp) →
$NSRGY (Nestlé Health Science)
💄 Beauty ("2 global skincare cos") →
$LRLCY (L'Oréal)
💊 Pharma (Reata/
$7.3B comp) →
$BIIB, for NB4168
📱 Telehealth →
$HIMS
But: comp gated on
$15 PSUs, so he's incentivized to talk his book. "In discussions" ≠ deal. No name, no LOI, no timeline. Real tell = a signed exclusive skincare supply deal w/ a named
$LRLCY-tier buyer. Until then it's CEO optionality, not a catalyst