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SAN DIEGO—Ma Songjiang, President and Director of Gyre Therapeutics, Inc. (NASDAQ:GYRE), a biotechnology company with a market capitalization of approximately $958 million, recently sold a portion of company stock. According to a filing with the Securities and Exchange Commission, Ma disposed of a total of 4,000 shares over two separate transactions on January 21 and 22, 2025. The stock currently trades at $11.19, down about 26% over the past year.
The first transaction involved the sale of 2,000 shares at an average price of $10.85 per share, while the second transaction saw another 2,000 shares sold at an average price of $10.63 per share. The total value of these sales amounted to approximately $42,960.
These transactions were executed under a pre-established Rule 10b5-1 trading plan, which Ma adopted on September 13, 2024. Following these sales, Ma retains indirect ownership of 2,903,138 shares, held by their spouse.
In other recent news, Gyre Therapeutics has seen significant changes in its executive team. The biotechnology firm announced the appointment of Ping Zhang, a seasoned executive with a strong financial background, as the lead independent director of its Board of Directors. Zhang will also serve on the Nominating and Corporate Governance Committee. Furthermore, Gyre Pharmaceuticals, a subsidiary of Gyre Therapeutics, has appointed Songjiang Ma as its new Chairman, following Ying Luo's decision to step down and concentrate on his role at GNI Group Ltd.
Zhang's extensive experience includes his current position as a Managing Partner at String Capital Management and previous roles at AEON Life Insurance (NSE:LIFI) Company and Japan Asia Investment Co. He has also held directorships at GNI and Asian Star Co.
In terms of financial performance, Gyre Therapeutics reported total revenues of $105.03 million in the last twelve months, with an impressive gross profit margin of 96.23%. The firm's subsidiary, Gyre Pharmaceuticals, is advancing its pipeline in China, including ongoing clinical trials for F351 and the commercialization of ETUARY® (Pirfenidone capsule), a leading treatment for idiopathic pulmonary fibrosis (IPF) in China with 2023 net sales of $112.1 million. These are some of the recent developments at Gyre Therapeutics.
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