How to read a company’s SEC filings
By Alex Jaffe-DiazPublished May 08, 2018 04:55:13The Securities and Exchange Commission is set to hold a public hearing on Thursday to discuss how the public can track the financial performance of companies, and the potential impact that will have on their financial performance.
This will be the second time the SEC will hold an event on the financials of large corporations.
In July, the agency held an event to discuss the risks of “flash crashes,” a series of high-profile corporate failures that have shaken Wall Street.
The event will also feature a presentation from a senior executive with Covis Pharmaceuticals, the pharmaceutical company that owns Marinus Pharmaceuticals and Covis Research Laboratories.
Covis shares plunged from more than $100 a share in February to $17 a share at the close of business on Thursday.COVIS stock fell 3.3% to $11.90, while Marinus stock lost 3.4% to just over $40 a share.
The company also reported a net loss of $2.3 million in the second quarter.
Marinus stock also rose 7.4%.
The SEC is expected to vote on the event, which will be held at the headquarters of the SEC in Washington, D.C., during the day on Thursday, May 8.
A copy of the proposed rules can be viewed here.
The SEC has held similar events on other topics, including its review of pharmaceuticals for potential manipulation.
The agency also held a hearing last year on the dangers of insider trading, and this time it will hold a similar event on insider trading and stock market manipulation.
If the agency does hold an on-site event, the public is not expected to be able to participate in the hearing.