Key Points
- Bio Fund IV L.P. Ah purchased 1.1 million Braveheart Bio shares at $18 each, investing $19.8 million and increasing its stake by 12.05% to 10.23 million shares.
- The transaction was disclosed in an SEC filing, as required for shareholders owning at least 10% of the company.
- Braveheart Bio shares were trading down 9.2%, opening at $25.01 against a one-year range of $24.61 to $32.00. The clinical-stage biotech is developing BHB-1893, an oral cardiac myosin inhibitor for hypertrophic cardiomyopathy.
Braveheart Bio, Inc. (NASDAQ:BRVE - Get Free Report) major shareholder Bio Fund Iv L.P. Ah bought 1,100,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the transaction, the insider directly owned 10,232,420 shares of the company's stock, valued at $184,183,560. This trade represents a 12.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Braveheart Bio Trading Down 9.2%
NASDAQ:BRVE opened at $25.01 on Wednesday. Braveheart Bio, Inc. has a one year low of $24.61 and a one year high of $32.00.
About Braveheart Bio
(
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We are a clinical‑stage biopharmaceutical company focused on developing therapies for patients with hypertrophic cardiomyopathy (“HCM”) and other serious cardiovascular diseases. Our lead product candidate, BHB‑1893, is a next-generation oral small‑molecule cardiac myosin inhibitor (“CMI”), that we are developing for the treatment of obstructive HCM (“oHCM”) and non‑obstructive HCM (“nHCM”). Our goal is to improve the treatment options for these patients by enhancing speed of onset, depth of gradient response, systolic safety, and reversibility, and reducing prescribing complexity.
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