Satsuma Pharmaceuticals (STSA)

Company Profile

Satsuma Pharmaceuticals is a clinical-stage biopharmaceutical company developing a novel therapeutic product candidate for the acute treatment of migraine. Its product candidate, STS101, is a drug-device combination of a proprietary dry-powder formulation of dihydroergotamine mesylate, or DHE, which is designed to be quickly and easily self-administered with a proprietary pre-filled, single-use, nasal delivery device. DHE products have long been recommended as a first-line therapeutic option for the acute treatment of migraine and have significant advantages over other therapeutics for many patients. However, broad use has been limited by invasive and burdensome administration and/or sub-optimal clinical performance of available injectable and liquid nasal spray products. STS101 is in Phase 3 development and specifically designed to deliver the clinical advantages of DHE while overcoming these shortcomings.

Company profile

Ticker

STSA

Exchange

NASDAQ

Website

www.satsumarx.com

CEO

John Kollins

Incorporated

Delaware

Location

California

Fiscal year end

Dec 31

Sector

Manufacturing > Pharmaceutical Preparation Manufacturing

Industry (SIC)

Pharmaceutical Preparations

Pfizer • Johnson & Johnson • Merck & Co • Abbott Laboratories • Teva- Pharmaceutical Industries • Bristol-Myers Squibb • Lilly(Eli) & Co • Viatris • Abbvie • Celgene ...

SEC CIK

0001692830

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

IRS number

813039831

STSA stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$2.00

Low target

$1.00

High target

$3.00

Latest filings (excl ownership)

View all

8-K

Satsuma Pharmaceuticals Provides STS101 Development Program and Corporate Update

Satsuma Pharmaceuticals Announces Topline Results from SUMMIT Phase

14 Nov 22

EFFECT

Notice of effectiveness

8 Nov 22

8-K

Entry into a Material Definitive Agreement

3 Nov 22

424B5

Prospectus supplement for primary offering

3 Nov 22

Satsuma Pharmaceuticals Reports Third Quarter 2022 Financial Results and Recent Business Highlights

3 Nov 22

CORRESP

Correspondence with SEC

Latest ownership filings

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SC 13D/A

Growth Equity Opportunities 17, LLC

Braden Michael Leonard

23 Nov 22

SC 13G

BML Investment Partners, L.P.

16 Nov 22

Braden Michael Leonard

Change in insider ownership

16 Nov 22

Braden Michael Leonard

Financial summary

Financial statements Chart STSA financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	40.56 mm	40.56 mm	40.56 mm	40.56 mm	40.56 mm	40.56 mm
Cash burn (monthly)	(no burn)	141.83 k	5.14 mm	5.24 mm	4.47 mm	4.42 mm
Cash used (since last report)	n/a	598.87 k	21.69 mm	22.14 mm	18.89 mm	18.66 mm
Cash remaining	n/a	39.96 mm	18.87 mm	18.42 mm	21.67 mm	21.90 mm
Runway (months of cash)	n/a	281.7	3.7	3.5	4.8	5.0

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

STSA institutional ownership history Ownership history

91.1% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	42	33	+27.3%
Opened positions	13	3	+333.3%
Closed positions	4	7	-42.9%
Increased positions	9	9	–
Reduced positions	11	8	+37.5%

13F shares	Current	Prev Q	Change
Total value	183.02 mm	130.87 mm	+39.8%
Total shares	30.17 mm	28.53 mm	+5.7%
Total puts	11.20 k	0.00	NEW
Total calls	722.40 k	0.00	NEW
Total put/call ratio	0.0	–	–

Largest owners	Shares	Value	Change
Ra Capital Management	5.91 mm	$35.49 mm	0.0%
Commodore Capital	3.71 mm	$22.27 mm	0.0%
NEA Management	3.14 mm	$18.86 mm	0.0%
Growth Equity Opportunities 17	2.99 mm	$20.83 mm	0.0%
Samlyn Capital	2.93 mm	$17.58 mm	-0.5%
Shin Nippon Biomedical Laboratories	2.79 mm	$15.87 mm	0.0%
TPG GP A	1.89 mm	$11.32 mm	0.0%
Driehaus Capital Management	1.71 mm	$10.28 mm	NEW
Vivo Capital	1.23 mm	$7.39 mm	0.0%
Vanguard	909.39 k	$5.46 mm	+42.0%

Largest transactions	Shares	Bought/sold	Change
Driehaus Capital Management	1.71 mm	+1.71 mm	NEW
Ikarian Capital	136.06 k	-517.39 k	-79.2%
Vanguard	909.39 k	+269.03 k	+42.0%
Citadel Advisors	0.00	-150.95 k	EXIT
EAM Investors	149.03 k	+149.03 k	NEW
Caption Management	90.00 k	+90.00 k	NEW
Simplex Trading	67.82 k	+67.82 k	NEW
Millennium Management	62.12 k	+62.12 k	NEW
Walleye Capital	93.67 k	-57.76 k	-38.1%
Boothbay Fund Management	11.97 k	-52.87 k	-81.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

STSA insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
21 Nov 22	Braden Michael Leonard	Common Stock	Buy	Acquire P	No	No	0.7116	150,000	106.74 k	150,000
15 Nov 22	Braden Michael Leonard	Common Stock	Buy	Acquire P	Yes	No	0.6284	300,694	188.96 k	6,440,000
15 Nov 22	Braden Michael Leonard	Common Stock	Buy	Acquire P	Yes	No	0	531,000	0.00	6,139,306
14 Nov 22	Commodore Capital	Common Stock, par value $0.0001 per share	Sell	Dispose S	Yes	No	0.706	3,250,000	2.29 mm	461,286
14 Nov 22	Braden Michael Leonard	Common Stock	Buy	Acquire P	Yes	No	0.6898	5,608,306	3.87 mm	5,608,306
3 Jun 22	Ra Capital Management	Stock Option Common Stock	Grant	Acquire A	Yes	No	3.46	30,000	103.80 k	30,000