Tonix Pharmaceuticals stock halted ahead of FDA approval news
Gregory Freitag, a director at PDS Biotechnology Corp (NASDAQ:PDSB), recently acquired shares worth approximately $24,999. According to a filing with the Securities and Exchange Commission, Freitag purchased 15,060 shares of common stock at a price of $1.66 per share on February 28, 2025. The purchase comes as the stock trades near its 52-week low of $1.20, down significantly from its high of $6.68. This acquisition brings his total holdings to 61,213 shares. The purchase also included common warrants, which are part of the same transaction. The warrants, set at an exercise price of $1.53, will expire on February 28, 2030. This move reflects Freitag’s increased investment in the biopharmaceutical company, which maintains a strong balance sheet with more cash than debt. While the stock has declined nearly 80% over the past year, analysts maintain optimistic price targets ranging from $4.50 to $21.00. For deeper insights into PDSB’s valuation and financial health, check out the comprehensive analysis available on InvestingPro.
In other recent news, PDS Biotechnology Corporation has secured $11 million through a direct offering with healthcare-focused institutional investors and certain company directors. The offering involves the sale of over 7.3 million shares and warrants, with the proceeds earmarked for research and development as well as general corporate purposes. This financial maneuver comes as the company prepares for a pivotal clinical trial targeting advanced HPV16-positive head and neck cancers. Additionally, the FDA has approved PDS Biotech’s Phase 3 trial design for its VERSATILE-003 clinical trial. This trial will evaluate the Versamune® HPV immunotherapy in combination with pembrolizumab as a treatment for recurrent and/or metastatic HPV16-positive head and neck squamous cell cancer. The trial has been granted Fast Track designation, which is intended to expedite the review process. The company has emphasized the potential for improved patient outcomes and the significance of using a companion diagnostic test for the first time in this Phase 3 trial. PDS Biotech’s leadership has expressed readiness to initiate the trial, which is expected to begin site activation in the first quarter of 2025.
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