Tonix Pharmaceuticals stock halted ahead of FDA approval news
Stephen C. Glover, a director at PDS Biotechnology Corp (NASDAQ:PDSB), recently acquired a significant amount of the company’s common stock. According to the latest SEC filing, Glover purchased 15,061 shares at an average price of $1.66 per share, amounting to a total investment of $25,001. The purchase comes as the stock trades near its 52-week low of $1.20, having declined nearly 80% over the past year. InvestingPro analysis shows the company’s market capitalization currently stands at $45.3 million.
The transaction, dated February 28, 2025, shows Glover’s increased stake in the company, with his direct ownership now totaling 78,851 shares. Additionally, Glover acquired common warrants equivalent to 15,061 shares, with the purchase price for these warrants included in the common stock transaction. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $4.50 to $21.00, with the company’s next earnings report scheduled for March 27, 2025.
These transactions reflect Glover’s ongoing commitment to PDS Biotechnology, a company known for its focus on pharmaceutical preparations. The acquisitions were made directly, indicating a personal investment in the company’s future performance. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering over 1,400 US stocks, including PDSB.
In other recent news, PDS Biotechnology Corporation has announced an $11 million direct offering involving healthcare-focused institutional investors and certain company directors. The offering includes over 7.3 million shares and warrants, with the proceeds earmarked for research and development and general corporate purposes. This move comes as PDS Biotech prepares to initiate a pivotal clinical trial for its lead program targeting advanced HPV16-positive head and neck squamous cell cancers. In a related development, the FDA has approved the design for PDS Biotech’s VERSATILE-003 Phase 3 clinical trial. This trial will evaluate the Versamune® HPV immunotherapy in combination with pembrolizumab for treating recurrent and/or metastatic HPV16-positive head and neck squamous cell cancer. The trial has received Fast Track designation, intended to speed up the review process for treatments addressing serious conditions. Dr. Frank Bedu-Addo, CEO of PDS Biotech, has expressed the company’s readiness to commence the trial, with site activation expected in the first quarter of 2025.
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