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Scott M. Giacobello, the Chief Financial Officer of Aadi Bioscience, Inc. (NASDAQ:AADI), recently reported the sale of company shares valued at $6,594. The transaction took place on March 3, 2025, when Giacobello sold 2,806 shares at a price of $2.35 per share. The sale comes as AADI’s stock has experienced an 11% decline over the past week, though it maintains a notable 28% gain over the past six months, according to InvestingPro data.
This sale was part of a broker-assisted transaction to cover Giacobello’s tax withholding obligations related to the vesting of restricted stock units. Following this sale, Giacobello holds 23,944 shares of Aadi Bioscience, which currently has a market capitalization of approximately $57 million. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 4.89.
In addition to the sale, Giacobello also acquired 6,750 shares of common stock on March 1, 2025, through the vesting of restricted stock units. This acquisition did not involve any cash transaction, as each restricted stock unit represents a contingent right to receive one share of common stock. According to InvestingPro, which offers comprehensive analysis and 12 additional key insights about AADI, the company currently appears undervalued based on its Fair Value assessment.
In other recent news, Aadi Bioscience has made significant strides in its strategic initiatives. The company announced a $100 million sale of its FYARRO® product to Kaken Pharmaceuticals, a move that aligns with its strategic shift initiated in December 2024. Aadi also secured an exclusive licensing agreement for a portfolio of antibody-drug conjugates (ADCs) from WuXi Biologics (HK:2269) and HANGZHOU DAC BIOTECHNOLOGY CO., LTD. This agreement involves an upfront payment of $44 million and potential development and commercial milestones totaling up to $805 million, alongside single-digit sales royalties. To support these ventures, Aadi has arranged a private investment in public equity (PIPE) financing round, expected to yield approximately $100 million in gross proceeds. This financing is set to close in the first half of 2025, pending customary conditions and stockholder approval. Additionally, Aadi appointed David Dornan, PhD, as its new Chief Scientific Officer to advance its ADC pipeline, leveraging his extensive oncology experience. The company’s President and CEO, David Lennon, emphasized the potential of the ADC portfolio to address high unmet medical needs in cancer treatment. Aadi has also welcomed Baiteng Zhao to its Board of Directors, further enhancing its expertise in next-generation ADC development.
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