Nuvation Bio (NYSE:NUVB) raced as much as 8% on Friday after SEC filings showed that insiders in the company bought shares worth $1.1M in the week. This was the highest total value of shares traded by insiders since at least November 13, 2024, as per Bloomberg.
Executives at the biopharmaceutical company purchased a total of about 617,300 shares during the week at a price range of $1.71 to $1.79 apiece. Of these, president and CEO David Hung made the maximum purchase of 500,000 shares, investing a total of $893,500. The transaction raised Hung’s total shareholding in the firm to 59,281,054 shares.
This was Hung’s second such purchase in the company in the past year. It was also the biggest purchase by any insider since June 2024.
Chief Financial Officer Philippe Sauvage; Chief Commercial Officer Colleen Sjogren; and Kerry Wentworth, the chief regulatory officer were among the other officials who increased their stakes in the firm.
Last week, Nuvation Bio’s shares crashed by as much as 17% after the U.S. Food and Drug Administration (FDA) approved its oral antitumor agent Ibtrozi as a treatment for certain patients with non-small cell lung cancer.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.