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Brent Pfeiffenberger, President and CEO of Century Therapeutics , Inc. (NASDAQ:IPSC), recently executed a transaction involving the sale of 2,235 shares of the company’s common stock. The shares were sold at an average price of $0.615 each, totaling approximately $1,374. This sale was carried out to meet tax withholding obligations related to the vesting of restricted stock units (RSUs). The transaction occurs as the stock trades near its 52-week low of $0.57, having declined about 87% over the past year. It is important to note that these sales were automatic and not at the discretion of Pfeiffenberger.
Alongside this transaction, Pfeiffenberger acquired a substantial number of RSUs and stock options. On March 11, he was granted 521,500 RSUs, which will vest over a four-year period, with 25% vesting on March 11, 2026, and the remainder vesting quarterly thereafter. Additionally, Pfeiffenberger was awarded stock options to purchase 521,500 shares, with similar vesting conditions.
Following these transactions, Pfeiffenberger holds a total of 1,711,810 shares of Century Therapeutics. The company, based in Philadelphia, operates in the life sciences sector, focusing on biological products.
In other recent news, Century Therapeutics has been notified by Nasdaq of a potential delisting due to its share price falling below the required minimum. The company has until August 25, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 per share for ten consecutive business days. Meanwhile, Century Therapeutics announced a partnership with Friedrich-Alexander University Erlangen-Nürnberg for a Phase 1/2 trial of its cell therapy CNTY-101, targeting autoimmune diseases. This trial, named CARAMEL, is expected to begin in mid-2025, pending regulatory approval. Additionally, Piper Sandler adjusted its price target for Century Therapeutics to $4 while maintaining an Overweight rating, reflecting recent corporate updates and clinical trial progress. The company also ended its collaboration with Bristol-Myers Squibb (NYSE:BMY) on therapies for hematologic malignancies, following BMS’s internal portfolio review. Despite these developments, Century Therapeutics reported a strong cash position of $245 million at the end of the third quarter of 2024. Clear Street initiated coverage with a Buy rating and a $9 price target, citing the potential of Century’s technology in advancing cell therapy treatments.
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