Understand your concerns. I am OK with these options as Jon and his team have work very hard for many years. I am invested in another biotech that has awarded Mgt excessive options each year. I think NEU announcement seems reasonable given the success of the business.
Some companies offer schemes where they provide employees discounted, reduced or interest free loans to buy shares in the company with some vesting conditions as part of their employment package. So a share price of $23.09 might explain why the NEU share price shot up over $23 over the last week or so and has now dropped back below.
I think $23.09 sets a base level price for NEU until more news flows.
As others have mentioned, I think this announcement shows their confidence in what they are witnessing in the 2592 Ph2 trials currently underway.
I have often seen other biotechs announce these type of administrative announcements (clearing the deck) not long before an exciting announcement.
GLTA
NEU Price at posting:
$22.42 Sentiment: Buy Disclosure: Held
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