Terrance McGuire, a director at Invivyd, Inc. (NASDAQ:IVVD), has reported significant stock sales in the company, according to a recent SEC filing. Over three consecutive days, McGuire sold a total of 324,241 shares of Invivyd's common stock. The sales, which occurred between December 17 and December 19, 2024, were executed at prices ranging from $0.4337 to $0.48 per share, totaling approximately $147,795. These transactions come as the stock trades near its 52-week low of $0.43, having declined 87% over the past year. According to InvestingPro, the company's market capitalization now stands at approximately $53 million.
Following these transactions, McGuire retains ownership of 3,688,079 shares indirectly through Polaris (NYSE:PII) Partners IX, L.P. This series of transactions reflects McGuire's ongoing adjustments to his holdings in the biotechnology company, which specializes in developing biological products. InvestingPro analysis indicates the stock is currently in oversold territory based on RSI, while maintaining a strong balance sheet with more cash than debt. Investors seeking deeper insights into IVVD's technical indicators and financial health metrics can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Invivyd, Inc. reported a steady uptick in its third-quarter financial results, with net product revenue reaching $9.3 million and an ending cash balance of $107 million. These results were achieved despite regulatory challenges and concerns about the efficacy of its COVID-19 antibody, pemivibart. The company has demonstrated an 80% to 90% reduction in symptomatic COVID-19 risk with pemivibart and has introduced a new antibody candidate, VYD2311, which began human studies in August 2024.
Invivyd is steering towards profitability by June 2025 through strategic restructuring aimed at enhancing commercial outreach, primarily to the immunocompromised community. The company is also in discussions with the FDA regarding the regulatory pathway for VYD2311.
On another note, Invivyd announced the immediate resignation of board member Sara Cotter. No further comments were released on this matter. Despite concerns about pemivibart's efficacy against certain SARS-CoV-2 variants, Invivyd remains confident in its clinical data and regulatory pathway for its products.
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