Frank D. Heuszel, the Chief Executive Officer of Impact Biomedical Inc. (NASDAQ:IBO), recently acquired additional shares of the company's common stock, according to a recent SEC filing. On November 27, Heuszel purchased 500 shares at a price of $2.61 per share, totaling $1,305. The purchase comes as the stock has experienced a significant 16% decline over the past week, according to InvestingPro data. Following this transaction, Heuszel now directly owns 96,844 shares of Impact Biomedical. This acquisition reflects continued confidence in the company's prospects as Heuszel increases his stake in the firm. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.79, though it trades at a relatively high P/E ratio of 219. InvestingPro's Fair Value analysis suggests the stock is currently fairly valued. Subscribers can access 6 additional ProTips and comprehensive financial metrics on the platform.
In other recent news, Impact BioMedical Inc. has been granted a new U.S. patent for an insect repelling composition, adding to its 3F™ technology platform. The patent, U.S. Patent No. 11,985,973, set to expire in February 2039, follows a previously granted patent, U.S. Patent No. 11,246,310, due to expire in April 2040. Both patents cover plant-based compositions aimed at reducing insect landings and bites. The newly patented technology works by inhibiting the olfactory receptors of insects, potentially offering a natural solution for outdoor environments.
In other developments, Impact BioMedical has announced the formation of a new executive leadership team. The team includes Frank D. Heuszel as CEO, Mark Suseck as COO, and Todd Macko as CFO. Heuszel joined DSS, Inc., Impact BioMedical's parent company, in 2019, while Suseck joined Impact BioMedical in August 2023. Macko, with over 25 years of financial management experience, continues to serve as CFO of DSS Inc. while assuming the CFO responsibilities at Impact BioMedical.
These recent developments are intended to position Impact BioMedical for sustained success in the healthcare sector, with the leadership team expected to guide the company through a period of innovation and expansion. The company is also accelerating discussions with potential partners to bring the newly patented insect repellent technology to market in the U.S. and internationally.
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