Biotech's Target Price Increased as Shares 'Deeply Undervalued'

Disclosures from Wedbush Securities, Sierra Oncology Inc., Company Report, Nov. 9, 2017

Analyst Certification

We, Robert Driscoll and David Nierengarten, certify that the views expressed in this report accurately reflect our personal opinions

and that we have not and will not, directly or indirectly, receive compensation or other payments in connection with our specific

recommendations or views contained in this report. 

The analysts responsible for preparing research reports do not receive compensation based on specific investment banking activity.

The analysts receive compensation that is based upon various factors including WS' total revenues, a portion of which are generated

by WS' investment banking activities. 

Company Specific Disclosures

1. WS makes a market in the securities of Sierra Oncology, Inc.

3. WS co-managed a public offering of securities for Sierra Oncology, Inc. within the last 12 months.

4. WS has received compensation for investment banking services from Sierra Oncology, Inc. within the last 12 months.

5. WS provided Sierra Oncology, Inc. with investment banking services within the last 12 months.