Nov. 21 at 10:47 PM
$ENSC just announced its Annual Meeting — Dec 23 (virtual) — and the agenda reveals some major structural issues worth watching:
• Proposal 1: approval to issue shares + warrants to a new investor. If passed, it could materially increase share count and dilute current holders.
• Proposal 2: amendment of the Omnibus Incentive Plan — increasing eligible shares from ~121K to ~721K — showing the company is preparing for talent/incentive needs.
• Proposals 3 & 4: board elections + auditor ratification — important, but less volatile than the issuance issues.
Why you should care: this isn’t about clinical data — it’s about governance, funding, and dilution. Owning shares in a biotech means your exposure is not only to “will the drug work,” but also “will the company have enough cash, and how will it treat existing shareholders when it raises?”
This meeting is a reminder: dilution risk is real. For long-term investors, that means: keep the science in view, but don’t ignore the stock math.
