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Spectral Medical Inc T.EDT

Alternate Symbol(s):  EDTXF

Spectral Medical Inc. is a Canada-based late-stage theragnostic company advancing therapeutic options for sepsis and septic shock. The Company develops and commercializes a treatment for septic shock utilizing its Endotoxin Activity Assay (EAA) diagnostic and the Toraymyxin therapeutic (PMX). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s EAA. PMX is approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 340,000 patients to date. It has pioneered the development of biochemical markers for the clinical syndrome known as septic shock. It is continuing its legacy business of manufacturing and selling certain proprietary reagents. It develops, produces and markets recombinant proteins, antibodies and calibrators. These materials are sold for use in research and development, as well as in products manufactured by other diagnostic companies.


TSX:EDT - Post by User

Post by mercedesmanon Mar 15, 2022 3:27pm
171 Views
Post# 34516174

Performance Clarification may be in Order...

Performance Clarification may be in Order...Here is the package of Options/etc. that was given out 02/28....

                                                                              Seto                 Kellum

02/28/2022   Options                                         2,609,271            974,148

02/28/2022   Performance                                 3,000,000         3,000,000
                      Share Units (PSU)*

02/28/2022   Restricted Share Units                     914,653           312,500




*Companies typically use PSUs as a form of mid-term compensation as the units usually vest after three years. It converts an amount that would normally be paid as a bonus or other cash remuneration to share ownership. It is meant to encourage employees to meet certain performance targets and maximize share value over the medium-term. 

What remains to be seen is what ARE the performance targets that both Seto and Kellum were given for their PSU's ?

Are they meaningful targets/milestomes like for example: FDA approval of Tigris?   FDA apparoval of DIMI (for Home Use) ?  Completion of Trial only?  Or something soft and easy like: Hitting 36 enrollees? Settiing up an office NFL pool?  Could be any number of things, but I suspect (hope it's) one or more of the former

Presumably they should only win (via PSU's) if WE all win on the SP.  Could be a similar thing for the RSU's.  i.e. they could be performance  or milestone based, or they could be restricted in only minor ways.

I like to think the BoD compensation Committee has thought this through.  Maybe I'm being too optimisitic?  The ordinary options, in and of themselves, are generous, by prior year standards.

MM
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