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Aslam Shakil, the Chief Medical (TASE:BLWV) Officer of Talphera, Inc. (NASDAQ:TLPH), recently acquired additional shares of the company’s common stock, according to a recent SEC filing. On June 13 and June 14, 2024, Shakil purchased a total of 5,695 shares. The shares were acquired at prices ranging from $0.98 to $1.0714 per share, resulting in a total transaction value of $6,038. The purchase comes as the stock has fallen nearly 12% in the past week, with shares currently trading at $0.55. According to InvestingPro analysis, the company appears undervalued at current levels.
Following these transactions, Shakil’s total direct ownership in Talphera has increased to 37,695 shares. The purchases reflect a continued commitment to the company by its senior management. With a market capitalization of just $9.88 million and its next earnings report due in 9 days, investors tracking insider activity can access additional insights through InvestingPro, which offers 13 additional investment tips for TLPH.
In other recent news, Talphera has been active with several significant developments. The company has reached an agreement with the FDA to review a Prior Approval Supplement aimed at reducing the number of patients required for its NEPHRO CRRT clinical study. This move is expected to expedite the trial’s completion by the end of the year. Rodman & Renshaw has initiated coverage of Talphera with a Buy rating and a price target of $4.00, citing confidence in the potential success of its lead product, Niyad, which is currently undergoing a registrational study. Meanwhile, Talphera faces challenges with the Nasdaq Stock Market, having received notices for non-compliance with both the minimum bid price requirement and the minimum stockholders’ equity threshold. The company has been granted 180 days to address the bid price deficiency and must submit a compliance plan for the equity shortfall by January 13, 2025. Talphera has expressed its intention to actively monitor its stock’s closing bid price and consider options such as a reverse stock split if necessary. These recent developments highlight Talphera’s ongoing efforts in both its clinical and financial endeavors.
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