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iTeos Therapeutics, Inc. (NASDAQ:ITOS), a $389 million market cap biotech company, saw significant stock transactions by its Chief Executive Officer, Michel Detheux, according to a recent SEC filing. Between June 4 and June 6, 2025, Detheux sold shares worth approximately $1.59 million. The sales were executed at prices ranging from $10.1 to $10.21 per share, close to the current trading price of $10.17. InvestingPro analysis shows the stock has gained over 32% year-to-date, despite volatile price movements.
These transactions were part of a pre-arranged trading plan under Rule 10b5-1, which allows insiders to set up a trading plan for selling stocks they own. In addition to the sales, Detheux also acquired shares through option exercises, totaling a transaction value of $674,442 at a price of $4.3 per share. According to InvestingPro, the company maintains a strong balance sheet with more cash than debt, while analyst price targets range from $8 to $12 per share.
The sales and acquisitions were executed in multiple batches over three days, with Detheux maintaining a significant stake in the company post-transactions. For deeper insights into insider trading patterns and 10+ additional exclusive tips about ITOS, check out InvestingPro.
In other recent news, iTeos Therapeutics has announced a significant shift in its operations, deciding to cease activities and focus on asset sales. This strategic move follows a comprehensive review of its development pipeline and financial status. The company aims to leverage its current cash reserves, which stood at approximately $624 million as of March 31, 2025, to maximize shareholder value. Analysts from Wedbush have responded to these developments by downgrading the stock to Neutral and adjusting the price target to $12, citing anticipated costs related to winding down operations.
Additionally, Piper Sandler has reduced its price target for iTeos Therapeutics from $16 to $12, while maintaining an Overweight rating. This adjustment reflects the discontinuation of the belrestotug program, following disappointing trial results. Despite these setbacks, iTeos continues its research efforts, with ongoing studies such as the Phase I/Ib APT-008 and TRM-010 trials. The company is also exploring the potential sale of key assets, including EOS-984 and EOS-215. Meanwhile, Tim Van Hauwermeiren has resigned from the board, with no disagreements cited regarding his departure.
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