In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Reata Pharmaceuticals Inc. (NASDAQ:RETA) reported that Cpmg Inc. has picked up 4,361,180 of common stock as of 2017-06-26.
The acquisition brings the aggregate amount owned by Cpmg Inc. to a total of 4,361,180 representing a 26.5% stake in the company.
For those not familiar with the company, Reata Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases. The Company’s lead product candidates include bardoxolone methyl, which is being studied in Phase III trial for the treatment of pulmonary arterial hypertension (PAH), associated with connective tissue disease (CTD-PAH), as well as a Phase II trial for the treatment of pulmonary hypertension due to interstitial lung disease (PH-ILD), and PAH, each of which are subsets of pulmonary hypertension (PH), Omaveloxolone, which is in Phase II clinical development for the treatment of multiple diseases, including Friedreich’s ataxia, mitochondrial myopathies and metastatic melanoma.
A glance at Reata Pharmaceuticals Inc. (NASDAQ:RETA) key stats reveals a current market capitalization of $641.51 Million based on $13.99 Million shares outstanding and a price at last close of $0.390 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-30, Traweek picked up 9,392 at a purchase price of $21.72. This brings their total holding to 1,926,034 as of the date of the filing.
On the sell side, the most recent transaction saw Novo unload 49,611 shares at a sale price of $25.03. This brings their total holding to 592,794.
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 Reata Pharmaceuticals Inc. (NASDAQ:RETA) as things move forward to see if its progress aligns with these transactions.
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