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Bryan Ball (NYSE:BALL), Chief Technical Operations Officer and SVP of Manufacturing Operations at Aadi Bioscience, Inc. (NASDAQ:AADI), recently reported a series of transactions involving the company’s common stock. The transactions come at a time when the stock has declined 11% over the past week, with InvestingPro data indicating the stock is currently in oversold territory. On March 3, Ball sold 2,147 shares at a price of $2.35 per share, totaling $5,045. This sale was part of a broker-assisted transaction to cover tax obligations related to the vesting of restricted stock units.
In addition to the sale, Ball acquired 100,000 shares of Aadi Bioscience stock on March 4 at $2.40 per share, a transaction valued at $240,000. Earlier, on March 1, he acquired 5,000 shares through the vesting of restricted stock units, with no cash exchange involved in this transaction. Following these transactions, Ball’s direct ownership stands at 202,853 shares.
In other recent news, Aadi Bioscience has announced several strategic initiatives, including the sale of its FYARRO® product to Kaken Pharmaceuticals for $100 million and a licensing agreement with WuXi Biologics (HK:2269). The licensing deal grants Aadi exclusive rights to a portfolio of antibody-drug conjugates (ADCs) targeting cancers with high unmet medical needs. To support these endeavors, Aadi has secured approximately $100 million in private investment in public equity (PIPE) financing, led by Ally Bridge Group, which is expected to close in the first half of 2025. These developments are part of Aadi’s strategic shift announced in December 2024, aimed at advancing its ADC assets. Additionally, Baiteng Zhao has joined Aadi’s Board of Directors, bringing expertise in next-generation ADC development. The company has also appointed David Dornan as its new Chief Scientific Officer to focus on a tumor-targeting strategy using a next-generation linker-payload platform. These moves are anticipated to fund Aadi’s operations into late 2028, including clinical data for the ADC portfolio. The company has engaged Leerink Partners for financial advisory in these transactions, with Jefferies LLC acting as the exclusive placement agent for the PIPE financing.
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