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Investors Should Vote 'No' On ContraVir's Stock Incentive Proposal

Dec. 03, 2018 10:32 AM ETHepion Pharmaceuticals, Inc. (HEPA)17 Comments
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BZ Equity Research


  • ContraVir Pharmaceuticals has filed for a DEF 14A, in which the BOD proposed a 1.5 million share increase for management bonuses.
  • The proposal comes on the heels of the company's stock reaching all-time lows.
  • The proposal is nothing short of a insult to the company's investors and should be answered with a resounding "NO".
  • Investors are urged to attend the company meeting in Edison, NJ in order to demand answers from the management and BOD.


On November 29, 2018, ContraVir Pharmaceuticals (CTRV) released their latest DEF 14A proxy filing to the general public. The DEF 14A serves as an official notification to ContraVir Investors, as of the November 28th record date, of matters to be brought to a vote during the company’s annual meeting on January 15, 2019. The Board of Directors has set forth two proposals: [1] To elect six (6) directors for a one-year term to expire at the 2019 annual meeting of stockholders and [2] To approve an amendment to the Company’s 2013 Equity Incentive Plan (the “2013 Plan”) to increase the reservation of common stock for issuance thereunder to 2,837,500 shares from 1,337,500 shares.

A Crashing Stock and Investor Furor

ContraVir’s stock has continued to slide to all-time lows despite a new CEO taking the helm in October 2018. Wall Street does not seem to be too optimistic about James Sapirstein’s seasoned replacement as the stock recently cratered an all-time low of 37 cents per share on November 28, 2018. With 16,343,920 shares outstanding as of November 12, 2018 and a stock price of $0.49 per share, the company's market cap is approximately $1 million below its cash on hand ($9 million cash as per Q3 2018 10-Q filing). While the management explores the possibility of entering the NASH market with CRV431 and continues to search for strategic partnerships in order to secure non-dilutive funding, the stock has lost 87% of its valuation from one year ago. The company is once again in violation of the NASDAQ price listing requirement and faces a possible delisting at the end of Q1 2019. ContraVir investors are undoubtedly furious and rightfully so.

CTRV data by YCharts


While ContraVir’s top brass have overpromised and under delivered in terms of partnerships and continues to

This article was written by

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Focused on exploring massive upside opportunities in small/micro/nano cap biotech companies specializing in small-molecule antiviral therapies for chronic diseases.

Analyst’s Disclosure: I am/we are long CTRV. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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