Satsuma Pharmaceuticals (STSA)

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)	19.53 mm	19.53 mm	19.53 mm	19.53 mm	19.53 mm	19.53 mm
Cash burn (monthly)	(no burn)	152.75 k	3.59 mm	5.51 mm	3.80 mm	4.05 mm
Cash used (since last report)	n/a	3.53 mm	82.84 mm	127.26 mm	87.59 mm	93.44 mm
Cash remaining	n/a	16.00 mm	-63.31 mm	-107.73 mm	-68.06 mm	-73.91 mm
Runway (months of cash)	n/a	104.8	-17.6	-19.5	-17.9	-18.3

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Financial data from company earnings reports.

Institutional ownership, Q2 2023

STSA institutional ownership history Ownership history

26.9% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	3	35	-91.4%
Opened positions	0	5	EXIT
Closed positions	32	6	+433.3%
Increased positions	0	6	EXIT
Reduced positions	1	10	-90.0%

13F shares	Current	Prev Q	Change
Total value	6.91 mm	12.40 bn	-99.9%
Total shares	8.93 mm	29.97 mm	-70.2%
Total puts	0.00	0.00
Total calls	0.00	207.20 k	EXIT
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
BML Investment Partners	6.44 mm	$4.38 mm	0.0%
Growth Equity Opportunities 17	2.49 mm	$2.54 mm	0.0%
Shin Nippon Biomedical Laboratories	1.00 k	$0.00	-100.0%
Ra Capital Management	0.00	$0.00	EXIT

Largest transactions	Shares	Bought/sold	Change
BML Capital Management	0.00	-6.44 mm	EXIT
Ra Capital Management	0.00	-5.91 mm	EXIT
Shin Nippon Biomedical Laboratories	1.00 k	-2.79 mm	-100.0%
NEA Management	0.00	-2.29 mm	EXIT
Vanguard	0.00	-920.52 k	EXIT
Geode Capital Management	0.00	-414.34 k	EXIT
Lion Point Capital	0.00	-319.74 k	EXIT
Two Sigma Investments	0.00	-297.13 k	EXIT
Acadian Asset Management	0.00	-275.07 k	EXIT
Two Sigma Advisers	0.00	-274.00 k	EXIT

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.