In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Histogenics Corp (NASDAQ:HSGX) that Armistice Capital has picked up 1,333,333 of common stock as of 2017-07-11.
The acquisition brings the aggregate amount owned by Armistice Capital to a total of 1,333,333 representing a 5.7% stake in the company.
For those not familiar with the company, Histogenics Corporation is a regenerative medicine company. The Company is focused on developing and commercializing products in the musculoskeletal segment of the marketplace. The Company’s product candidate, NeoCart utilizes various aspects of regenerative medicine platform to develop a tissue implant intended to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee. NeoCart is a cartilage-like implant created using a patient’s own cartilage cells through a series of tissue engineering processes. The patient’s cells are separated from a tissue biopsy specimen extracted from the patient and multiplied in its laboratory. The cells are then infused into its scaffold that provides structure for the developing implant. Before NeoCart is implanted in a patient, the cell- and scaffold construct undergoes a bioengineering process in the Company’s Tissue Engineering Processor (TEP). The Company has operations in the United States and Israel.
A glance at Histogenics Corp (NASDAQ:HSGX)’s key stats reveals a current market capitalization of $39.03 Million based on $22.17 Million shares outstanding and a price at last close of $1.73 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-16, Gill picked up 3,000 at a purchase price of $1.68. This brings their total holding to 11,000 as of the date of the filing.
On the sell side, the most recent transaction saw Sofinnova unload 1,002 shares at a sale price of $11.00. This brings their total holding to 1,585,650.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Histogenics Corp (NASDAQ:HSGX) as things move forward to see if its progress aligns with these transactions.
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