Key Points
- Major shareholder Arch Venture Fund L.P. purchased 133,333 Aspen Neuroscience shares at $15 each, for a total of about $2 million, according to an SEC filing.
- After the transaction, the fund was reported to own 66,667 shares, valued at approximately $1 million.
- Aspen Neuroscience is developing regenerative cell therapies for neurological disorders; its lead program, ANPD001, is a potential cell replacement therapy for Parkinson’s disease.
Aspen Neuroscience, Inc. (NASDAQ:ASPE - Get Free Report) major shareholder Venture Fund L.P. Arch purchased 133,333 shares of the company's stock in a transaction on Monday, November 2nd. The shares were purchased at an average cost of $15.00 per share, with a total value of $1,999,995.00. Following the purchase, the insider owned 66,667 shares of the company's stock, valued at approximately $1,000,005. The trade was a -200.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Aspen Neuroscience Price Performance
ASPE opened at $12.29 on Wednesday. Aspen Neuroscience, Inc. has a 12-month low of $11.60 and a 12-month 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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