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SAN DIEGO—Ma Songjiang, President of Gyre Therapeutics, Inc. (NASDAQ:GYRE), a $1.03 billion market cap biotech company, executed sales of common stock valued at a total of $46,360 over two consecutive days, according to a recent regulatory filing. InvestingPro analysis indicates the company maintains a FAIR financial health rating.
On February 12, Ma sold 2,000 shares at a weighted average price of $11.49. The following day, another 2,000 shares were sold at an average price of $11.69. These transactions were carried out under a pre-established Rule 10b5-1 trading plan adopted in September 2024. The stock currently trades at $11.98, slightly above the insider's sale prices.
Post-transaction, Ma retains ownership of 2,871,260 shares, held indirectly by a family member. The sales prices ranged from $11.25 to $11.77 per share across the transactions. According to InvestingPro, GYRE currently appears overvalued based on its Fair Value assessment, with 6 additional ProTips available for subscribers.
In other recent news, Gyre Therapeutics has announced significant changes in its leadership structure. The company has appointed Ping Zhang, a seasoned financial expert, as the lead independent director of its Board of Directors. Zhang's past roles include serving as a Managing Partner at String Capital Management and holding directorships at GNI and Asian Star Co.
Simultaneously, at its indirectly owned subsidiary, Gyre Pharmaceuticals, Songjiang Ma has been appointed as the new Chairman, succeeding Ying Luo. Luo will now concentrate on his role at GNI Group Ltd.
These developments are part of Gyre Therapeutics' ongoing efforts in drug development and commercialization. The company is currently advancing its drug F351 (Hydronidone) for MASH-associated fibrosis in the U.S. Gyre Pharmaceuticals, its subsidiary, is progressing with clinical trials for F351 and the commercialization of ETUARY® (Pirfenidone capsule), a leading treatment for idiopathic pulmonary fibrosis in the People's Republic of China, which posted 2023 net sales of $112.1 million.
These recent developments are part of Gyre Therapeutics' strategy, informed by its experience in rodent model mechanistic studies and clinical studies related to liver fibrosis caused by chronic hepatitis B.
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