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YK Bioventures Opportunities Fund I, L.P., a major stakeholder in Cero Therapeutics Holdings, Inc. (NASDAQ:CERO), recently sold shares totaling $400,456, according to a recent SEC filing. The transactions occurred over three days, from December 11 to December 13, with prices ranging from $0.06 to $0.08 per share. The sale comes amid a significant decline in CERO's stock price, which has fallen over 50% in the past week and is currently trading near its 52-week low of $0.06. According to InvestingPro analysis, the stock appears undervalued at its current market cap of $16.44M.
The sales involved a total of 5,955,250 shares, reducing the fund's holdings in Cero Therapeutics to 13,005,169 shares. This activity was conducted by YK Bioventures Opportunities Fund I, L.P. with indirect ownership noted through its general partner, YK Bioventures Opportunities GP I, LLC. The managing partners, Mitchell W. Kossar and Gary K. Yeung, are noted to have shared voting and investment power over these shares, although they disclaim beneficial ownership except to the extent of their pecuniary interest. InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics to better understand CERO's market position and potential.
In other recent news, CERo Therapeutics has received FDA approval for Phase 1 clinical trials of its leading drug candidate, CER-1236, targeting acute myelogenous leukemia. Despite facing potential delisting from NASDAQ due to non-compliance with the exchange's minimum bid price requirement and the Market Value of Listed Securities requirement, the company has requested a hearing to appeal this decision. Significant changes have occurred in the management team, with the appointment of Al Kucharchuk as Chief Financial Officer and Kristen Pierce as Chief Development Officer. Shami Patel, an experienced financial professional, has joined the board of directors. The company reported a cash balance of $3.2 million as of September 2024, and secured $1.25 million from existing investors. CERo Therapeutics has completed pre-IND manufacturing activities for CER-1236 and plans to commence clinical trials in early 2025. The company also transitioned from a private entity to a public one through a merger with SPAC Phoenix Biotech Acquisition Corporation. These are the recent developments at CERo Therapeutics.
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