Director Arjun Goyal buys 462,585 shares at $12.68 avg (2 purchases, $5.9M) at unprofitable biotech
Director Arjun Goyal purchased 462,585 shares over two days (44,939 shares at $12.24 on May 15 and 417,646 shares at $12.73 on May 16) for a total of $5,865,242.37, establishing a new position after holding zero shares pre-transaction. This is a material acquisition of 462.6K shares at a blended average price of $12.68 by a board member at a company with recent fundamentals showing $15.0M in quarterly revenue against a $-26.1M quarterly net loss. The stock trades at $12.26 (current price), having declined -24.6% over 90 days and -35.6% from its 52-week high of $19.03. The purchase at near-current levels into a currently unprofitable biotech firm warrants examination of the timing relative to company developments and the director's confidence in the turnaround pathway.