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Terrance McGuire, a director at Invivyd, Inc. (NASDAQ:IVVD), recently sold shares of the company in multiple transactions, according to a filing with the Securities and Exchange Commission. The timing is notable as InvestingPro data shows the stock has declined nearly 89% over the past year, with shares currently trading near their 52-week low of $0.40. The transactions, which occurred on December 27, December 30, and December 31, involved the sale of a total of 273,763 shares of common stock. The shares were sold at prices ranging from $0.4455 to $0.5212 per share, resulting in a total transaction value of approximately $131,528. According to InvestingPro analysis, while the company maintains a strong balance sheet with more cash than debt, it's currently experiencing rapid cash burn with an EBITDA of -$234.5 million in the last twelve months.
Following these transactions, McGuire holds an indirect ownership of 3,066,757 shares. The shares are held by entities affiliated with Polaris (NYSE:PII) Partners, where McGuire is involved. These transactions reflect McGuire's ongoing management of his investment in Invivyd, a company focused on developing biological products. Despite current challenges, the company maintains impressive gross profit margins of 92%, though analysts don't expect profitability this year. Get more detailed insights and 12 additional ProTips with InvestingPro.
In other recent news, Invivyd, Inc., a biotechnology firm, has been navigating a series of notable developments. The company received a warning from the Nasdaq Stock Market LLC due to its stock price falling below the minimum required bid price for 30 consecutive business days. However, Invivyd's listing status remains unaffected as the company maintains strong gross profit margins and holds more cash than debt on its balance sheet. To regain compliance, Invivyd is considering options to meet the Nasdaq's standards.
In terms of financial health, Invivyd reported steady growth in its third-quarter results, with net product revenue totaling $9.3 million and an ending cash balance of $107 million. Amidst these developments, the company saw the resignation of board member Sara Cotter. Furthermore, Invivyd's antibody, pemivibart, demonstrated an 80% to 90% reduction in symptomatic COVID-19 risk, and a new antibody candidate, VYD2311, began human studies.
Lastly, Invivyd is aiming for profitability by June 2025 through strategic restructuring to enhance commercial outreach, primarily serving the immunocompromised community. Despite concerns about pemivibart's efficacy against certain SARS-CoV-2 variants, Invivyd remains confident in its clinical data and regulatory pathway for its products.
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