[[Biora Therapeutics|Biora Therapeutics]] reports that insiders (directors, executive officers, and affiliates) have significant ownership of outstanding stock and can exercise significant influence over all matters requiring stockholder approval. As of the [Schedule 14A](https://www.sec.gov/Archives/edgar/data/0001580063/000119312522127691/d278947ddef14a.htm) proxy statement dated 2022-04-28, [[Jeffrey Ferrell|Jeffrey Ferrell]], through [[Athyrium Capital Management|Athyrium]], beneficially owns `67,127,145`, or `30.56%` of the `182,351,171` shares outstanding. > [!quote] Insiders have substantial control over us and will be able to influence corporate matters. > > As of March 31, 2022, our current directors and executive officers, together with their affiliates, have significant ownership of our outstanding common stock. As a result, these stockholders, if they act, will be able to exercise significant influence over all matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions, such as a merger or other sale of our company or its assets. They may have interests that differ from yours and may vote in a way with which you disagree and that may be adverse to your interests. This concentration of ownership could limit stockholders’ ability to influence corporate matters and may have the effect of delaying, deterring or preventing a third party from acquiring control over us, depriving our stockholders of an opportunity to receive a premium for their common stock as part of a sale of our company, and could negatively impact the value and market price of our common stock. > > Source: [10-Q (2022-05-10)](https://www.sec.gov/Archives/edgar/data/0001580063/000095017022009028/bior-20220331.htm)