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In a series of recent transactions, Gregg R. Honigblum, the Chief Strategy Officer of Sintx Technologies, Inc. (NASDAQ:SINT), acquired a total of 10,000 shares of common stock. The transactions, which took place on April 22, 2025, amounted to a total value of $17,666. The shares were purchased at prices ranging from $1.7599 to $1.79 per share. This insider buying comes as the stock has fallen over 73% in the past year, according to InvestingPro data.
Honigblum’s transactions were conducted in four separate purchases. The first involved the acquisition of 3,000 shares at $1.7599 each, followed by another 3,000 shares at $1.7732. Subsequently, 3,808 shares were bought at $1.7656, and the final purchase was 192 shares at $1.79, bringing his total holdings to 10,000 shares. The company, currently valued at approximately $7 million in market capitalization, has been quickly burning through cash, as highlighted in InvestingPro’s analysis.
These transactions reflect Honigblum’s direct ownership of the stock, as indicated in the filing. While the company maintains a healthy current ratio of 2.41, indicating strong short-term liquidity, InvestingPro analysis suggests the stock is currently undervalued, with 8 additional key insights available to subscribers.
In other recent news, SINTX Technologies has announced a significant reorganization of its Board of Directors, aligning with its strategic focus on the medical technology sector. Eric Olson, the current President and CEO, has been appointed as the new Chairman of the Board, succeeding Dr. B. Sonny Bal, who will remain as a board member. This leadership change is part of SINTX’s broader strategy to enhance its presence in the medical device market. Additionally, the company has completed a $5 million private placement of shares and warrants, with the proceeds earmarked for working capital purposes. H.C. Wainwright & Co. served as the exclusive placement agent for this transaction. In another development, SINTX revealed the results of a study highlighting the biomechanical benefits of silicon nitride in spinal surgery, which could present significant opportunities for the company in the global spinal fusion market. The study, conducted in collaboration with SRM Institute of Science and Technology, found that silicon nitride outperforms traditional materials like PEEK and titanium. These developments underscore SINTX’s ongoing efforts to expand its market reach and leverage its advanced ceramics technology in the medical sector.
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