Aspen Neuroscience, Inc. (NASDAQ:ASPE - Get Free Report) major shareholder Venture Fund L.P. Arch acquired 1,200,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were purchased at an average price of $15.00 per share, for a total transaction of $18,000,000.00. Following the completion of the transaction, the insider directly owned 1,200,000 shares in the company, valued at approximately $18,000,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Aspen Neuroscience Stock Down 12.4%
Shares of ASPE stock opened at $13.04 on Tuesday. Aspen Neuroscience, Inc. has a 52-week low of $11.60 and a 52-week high of $14.90.
Aspen Neuroscience, Inc is a biotechnology company focused on developing regenerative medicine therapies for neurological disorders. The company's approach uses a patient's own cells to create induced pluripotent stem cells, which are then differentiated into specialized cells intended to replace damaged or lost tissue.
Aspen's lead program, ANPD001, is designed as a potential cell replacement therapy for Parkinson's disease. The company has also developed genetic screening and manufacturing processes intended to evaluate a patient's cells and produce an individualized therapeutic product.
Aspen Neuroscience is headquartered in San Diego, California.
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