In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Aileron Therapeutics Inc. (NASDAQ:ALRN) reported that Novartis Bioventures Ltd. has picked up 2,544,182 of common stock as of 2017-07-06.
The acquisition brings the aggregate amount owned by Novartis Bioventures Ltd. to a total of 2,544,182 representing a 17.3% stake in the company.
For those not familiar with the company, Aileron Therapeutics, Inc. is a United States-based clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing a class of therapeutics called stapled peptides. It is also developing a pipeline of stapled peptide drugs across a range of therapeutic areas, including cancer, endocrine and metabolic diseases and inflammation. The Company is advancing its lead oncology program to deliver efficacy and safety in a spectrum of solid and hematological malignancies. Its lead product candidate, ALRN-6924, targets the tumor suppressor protein p53 for the treatment of a range of cancers. The Company is conducting an ongoing Phase I clinical trial of ALRN-6924 in adult patients with solid tumors or lymphomas expressing non-mutated or wild-type p53 that are refractory to or intolerant of standard therapy. ALRN-6924 may reactivate p53-mediated cell death by targeting both of the natural p53 suppressor proteins, Mouse double minute 2 homolog (MDM2) and MDMX.
A glance at Aileron Therapeutics Inc. (NASDAQ:ALRN)’s key stats reveals a current market capitalization of $210.63 Million based on $14.71 Million shares outstanding and a price at last close of $13.80 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-07-05, Shanafelt picked up 250,000 at a purchase price of $15.00. This brings their total holding to 1,094,987 as of the date of the filing.
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 Aileron Therapeutics Inc. (NASDAQ:ALRN) as things move forward to see if its progress aligns with these transactions.
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