In a recent transaction reported to the Securities and Exchange Commission, Appajosyula Sireesh, Chief Operating Officer of Tharimmune, Inc. (NASDAQ:THAR), acquired 5,000 shares of common stock at a price of $2.0192 per share. This purchase, totaling approximately $10,096, increases Sireesh's direct ownership to 10,758 shares.
In addition to his direct holdings, Sireesh also holds shares indirectly through Highpoint Pharmaceuticals, LLC and Channel BioConsulting LLC. Specifically, Highpoint Pharmaceuticals holds 2,593 shares, while Channel BioConsulting holds 21 shares. As the managing member of both entities, Sireesh has the authority to vote and dispose of these securities.
In other recent news, Tharimmune, Inc. has made significant strides in its clinical trials and strategic partnerships. The biotech firm has secured a European patent for its biodegradable polymeric nanoparticles technology, a development anticipated to enhance cancer therapies. The company has also received encouraging feedback from the European Medicines Agency (EMA) on its Phase 2 clinical trial plans for TH104, a drug candidate for pruritus in primary biliary cholangitis (PBC), with topline data expected in 2025.
Tharimmune's recent Phase 1 data for TH104 indicates potential for rapid symptomatic relief in patients with chronic liver disease. Positive results from this trial have paved the way for a Phase 2 multiple-ascending dose trial. Additionally, Tharimmune has entered into an exclusive licensing agreement with Intract Pharma for a novel oral delivery platform for anti-inflammatory treatments, which could accelerate the oral anti-TNFα antibody into clinical trials.
These recent developments underscore Tharimmune's ongoing efforts to expand its immunology focus and offer more accessible treatment options. The company is also exploring strategic partnerships to further refine the targeting capabilities of its platform and continues to develop its portfolio, which includes early-stage multi-specific biologics for solid tumors.
InvestingPro Insights
The recent insider purchase by Tharimmune's COO comes at a time when the company's stock has faced significant challenges. According to InvestingPro data, Tharimmune's shares have experienced a steep decline, with a 96.87% drop in the past year and a 61.37% fall over the last six months. This aligns with an InvestingPro Tip indicating that the stock "has taken a big hit over the last six months."
Despite these setbacks, the company maintains a strong liquidity position. An InvestingPro Tip highlights that Tharimmune "holds more cash than debt on its balance sheet" and that its "liquid assets exceed short term obligations." This financial stability could provide some reassurance to investors in light of the recent stock performance.
It's worth noting that analysts are cautious about the company's near-term profitability. An InvestingPro Tip suggests that analysts "do not anticipate the company will be profitable this year." This is further supported by the negative P/E ratio of -0.23 for the last twelve months as of Q3 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Tharimmune, providing a deeper understanding of the company's financial health and market position.
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