---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-015364"
form_type: "8-K"
ticker: "ESLA"
cik: "0001844417"
company_name: "Estrella Immunopharma, Inc."
filed_at: "2025-02-20T23:59:59+00:00"
generated_at: "2026-05-26T09:27:09.639114+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Estrella Immunopharma receives Buy rating from D. Boral Capital with $16 price target

## Summary
- D. Boral Capital initiates coverage on Estrella (ESLA) with a Buy rating and 12-month price target of $16.00 per share.
- Lead candidate EB103, a CD19/CD22-targeted ARTEMIS® T-cell therapy, is in Phase I/II trials for B-cell Non-Hodgkin's Lymphoma.
- D. Boral Capital's valuation model assumes 30% probability of success and a 30% discount rate.
- D. Boral Capital will also provide investment banking services, creating a potential conflict of interest.

## SEC filing metadata
- accession: 0001213900-25-015364
- form_type: 8-K
- ticker: ESLA
- cik: 0001844417
- company_name: Estrella Immunopharma, Inc.
- filed_at: 2025-02-20T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1844417/000121390025015364/0001213900-25-015364-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1844417/000121390025015364/ea0231621-8k_estrella.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-015364
- JSON: https://secwatch.observer/filing/0001213900-25-015364.json
- Plain text: https://secwatch.observer/filing/0001213900-25-015364.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.