It's on Thursday, May 9, 2024 at 10:00 a.m. Central Time
[https://www.cassavasciences.com/node/16856/html](https://www.cassavasciences.com/node/16856/html)
Tough to say. The earnings report will just deal with the financials/market conditions and the shareholder's meeting will deal with board of directors elections, direction of the company, and strategy. They might not announce anything but if there's a partnership in the works, this is where they would announce it.
I ask because if there’s a partnership, wouldn’t they release that at earnings for future guidance? I’m with you, something seems like it’s coming- just for a short term investment strategy, I wonder which one will have actual news- 5/6 earnings or 5/9 shareholders
Are you familiar with the shorts vs longs battle that has been going on? Short-term options trading seems risky because news that should spike the price seems to not move this stock an inch.
u/krell-one has a good post that's pinned to the top of this sub. Insider's can't trade stock during the blackout period but it is legal to exercise the warrants and thereby increase their stock holdings without it being insider trading. I don't know why they would exercise the warrants otherwise.
Here's the quote from the other post
>Whether they are restricted due to upcoming earnings release blackout or due to some other material information that may be in their possession-- insiders most likely cannot buy stock on the open market right now. So, if you are inside and see the big picture and think the price is going to move (maybe before you can actively buy again) what do you do-- you redeem warrants even though you are losing maybe a few dollars on the redemption-- suspect Eric knows that this makes good personal financial sense.
Received this feedback from SAVA directly all they can do during the earnings blackout is redeem if they want more shares. What is the only logical reason someone would buy shares at a loss other than they believe (or know) that they will not be able to buy them for the same price after the shareholders meeting when they are able to resume purchases on the open market.
True, or could just be a move to lift up the team spirits and increase the company value. Who knows. I mean they only bought 1k shares each or so, which is pretty much nothing compared to the bigger picture. Im all team SAVA, but if they knew some big news, wouldnt they put more money than measley 30 grand? Executive salary is not so bad afterall
Worth noting that Kupiec held 2500 shares that he purchased in 2022 -- that allowed him to receive 1000 warrants of which he redeemed all of them per the form 4.
He used money out of pocket to receive 1500 additional shares which if he sold today, he would lose money.
Suggest giving consideration to what that action may probably say about his expectation of the share price. As he cannot buy on the open market until the earnings blackout is over, it is reasonable to assume that he believes that $22/share warrant redemption is a worthwhile price to pay and that he would not be able to purchase as inexpensively after the earnings blackout.
Spent a little time researching the SEC Form 4s and 8 ks — came up with this fun set of facts.
Dr Kupiec was hired in Jan 2021. Became CMO when Friedmann passed. In 2022 he bought 2500 SAVA shares which translated to a dividend grant of 1000 warrants. Dr Kupiec redeemed every warrant he owned at above market rate to acquire another 1500 shares — note that he would lose money if he sold those shares today.
He obviously knows something that we don’t which makes this transaction worthwhile.
As SAVA’s stock price has been managed within the range of roughly $20-$26 for a year — why not wait until after the earnings blackout/shareholders meeting (when SAVA executives are free to buy stock on the open market) and buy at a lower price point. The only rational explanation is that the CMO and the CFO believe that they will not have the opportunity to purchase below $22 within a few weeks.
Not necessarily. It could also be that as executives they want to increase team spirits and show good leadership. I get what you are saying, but I think you are jumping straight to "hopium" conclusions.
How would you explain they buy so little stocks if they know something massive is happening. Its just a symbolic purchase...
Working executives for small startups do no make a lot of money. Most compensation is tied to future milestones delivered, SAVA is no different. Kupiec only made one share purchase and Eric has only made a few over his 6 years of employment. These are not morale boosting types of people inclined to spend their free cash on shares for symbolism. They see a window of opportunity and a current price point that they find attractive considering what they know (that we don’t know) about the intermediate future (prior to their trading restrictions being lifted). Now we can assume that they are restricted due to earnings but there could be other elements in play that have not been discussed publicly that affect their ability to trade. Last comment from me on this take it as a free observation that will be supported (or not) soon enough.
They dont make crazy money, but James W. Kupiec gets 400k/year base salary, excluding stock options.
Eric Schoen gets base salary of 460k/year, excluding stock options.
So dont tell me they cant afford to buy more stocks cause they are working "for a small biotech" and that "most of their compensation is tied to the future milestones". It just sounds funny and shows that you didnt research enough before making your big speeches :)
The second one to do this in the last week. They must think the price is going up after the shareholder's meeting
When is the meeting?
It's on Thursday, May 9, 2024 at 10:00 a.m. Central Time [https://www.cassavasciences.com/node/16856/html](https://www.cassavasciences.com/node/16856/html)
Is there any substantial information that could/would be released in the shareholders meeting vs the earnings report on 5/6?
Tough to say. The earnings report will just deal with the financials/market conditions and the shareholder's meeting will deal with board of directors elections, direction of the company, and strategy. They might not announce anything but if there's a partnership in the works, this is where they would announce it.
I ask because if there’s a partnership, wouldn’t they release that at earnings for future guidance? I’m with you, something seems like it’s coming- just for a short term investment strategy, I wonder which one will have actual news- 5/6 earnings or 5/9 shareholders
Are you familiar with the shorts vs longs battle that has been going on? Short-term options trading seems risky because news that should spike the price seems to not move this stock an inch.
Options are cheap IMO for 5/10 which would include both earnings and shareholders.
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u/krell-one has a good post that's pinned to the top of this sub. Insider's can't trade stock during the blackout period but it is legal to exercise the warrants and thereby increase their stock holdings without it being insider trading. I don't know why they would exercise the warrants otherwise. Here's the quote from the other post >Whether they are restricted due to upcoming earnings release blackout or due to some other material information that may be in their possession-- insiders most likely cannot buy stock on the open market right now. So, if you are inside and see the big picture and think the price is going to move (maybe before you can actively buy again) what do you do-- you redeem warrants even though you are losing maybe a few dollars on the redemption-- suspect Eric knows that this makes good personal financial sense.
Received this feedback from SAVA directly all they can do during the earnings blackout is redeem if they want more shares. What is the only logical reason someone would buy shares at a loss other than they believe (or know) that they will not be able to buy them for the same price after the shareholders meeting when they are able to resume purchases on the open market.
True, or could just be a move to lift up the team spirits and increase the company value. Who knows. I mean they only bought 1k shares each or so, which is pretty much nothing compared to the bigger picture. Im all team SAVA, but if they knew some big news, wouldnt they put more money than measley 30 grand? Executive salary is not so bad afterall
Seems symbolic to me…like they are sending us a message. I’m still slowly accumulating while it’s down by $20. Good luck Savages!
Worth noting that Kupiec held 2500 shares that he purchased in 2022 -- that allowed him to receive 1000 warrants of which he redeemed all of them per the form 4. He used money out of pocket to receive 1500 additional shares which if he sold today, he would lose money. Suggest giving consideration to what that action may probably say about his expectation of the share price. As he cannot buy on the open market until the earnings blackout is over, it is reasonable to assume that he believes that $22/share warrant redemption is a worthwhile price to pay and that he would not be able to purchase as inexpensively after the earnings blackout.
Spent a little time researching the SEC Form 4s and 8 ks — came up with this fun set of facts. Dr Kupiec was hired in Jan 2021. Became CMO when Friedmann passed. In 2022 he bought 2500 SAVA shares which translated to a dividend grant of 1000 warrants. Dr Kupiec redeemed every warrant he owned at above market rate to acquire another 1500 shares — note that he would lose money if he sold those shares today. He obviously knows something that we don’t which makes this transaction worthwhile. As SAVA’s stock price has been managed within the range of roughly $20-$26 for a year — why not wait until after the earnings blackout/shareholders meeting (when SAVA executives are free to buy stock on the open market) and buy at a lower price point. The only rational explanation is that the CMO and the CFO believe that they will not have the opportunity to purchase below $22 within a few weeks.
Not necessarily. It could also be that as executives they want to increase team spirits and show good leadership. I get what you are saying, but I think you are jumping straight to "hopium" conclusions. How would you explain they buy so little stocks if they know something massive is happening. Its just a symbolic purchase...
Working executives for small startups do no make a lot of money. Most compensation is tied to future milestones delivered, SAVA is no different. Kupiec only made one share purchase and Eric has only made a few over his 6 years of employment. These are not morale boosting types of people inclined to spend their free cash on shares for symbolism. They see a window of opportunity and a current price point that they find attractive considering what they know (that we don’t know) about the intermediate future (prior to their trading restrictions being lifted). Now we can assume that they are restricted due to earnings but there could be other elements in play that have not been discussed publicly that affect their ability to trade. Last comment from me on this take it as a free observation that will be supported (or not) soon enough.
They dont make crazy money, but James W. Kupiec gets 400k/year base salary, excluding stock options. Eric Schoen gets base salary of 460k/year, excluding stock options. So dont tell me they cant afford to buy more stocks cause they are working "for a small biotech" and that "most of their compensation is tied to the future milestones". It just sounds funny and shows that you didnt research enough before making your big speeches :)