James Brian Windsor, President and CEO of Aileron Therapeutics, Inc. (NASDAQ:ALRN), a micro-cap biotech company valued at $46.58 million, recently acquired shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Windsor purchased a total of 400 shares on December 5, 2024. The shares were acquired at prices ranging from $2.24 to $2.25, amounting to a total transaction value of $897. The purchase comes amid a significant 23% decline in share price over the past week, according to InvestingPro data.
The transactions were conducted indirectly through Windsor's son, as indicated in the filing. Windsor has stated that he disclaims beneficial ownership of the securities held by his son. Following these transactions, Windsor's direct ownership stands at 7,122 shares, with an additional 225 shares held indirectly by his son. InvestingPro analysis shows the stock currently trades below its Fair Value, with analyst price targets ranging from $7 to $19, suggesting potential upside from current levels. InvestingPro subscribers have access to 8 additional key insights about ALRN's financial health and market position.
In other recent news, Aileron Therapeutics announced positive results from the second cohort of a Phase 1b clinical trial for its therapeutic candidate, LTI-03, targeting idiopathic pulmonary fibrosis (IPF). The trial showed a positive trend in seven out of eight IPF biomarkers, suggesting a potential therapeutic effect. Concurrently, Aileron Therapeutics and Advancium Health Network announced an exclusive option agreement for ALRN-6924, a drug being explored for potential use in treating retinoblastoma, a rare pediatric eye cancer.
In governance changes, Aileron's shareholders elected Brian Windsor and Alan A. Musso as Class I directors, and Marcum LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 2024. The company also entered into an equity distribution agreement with Citizens JMP Securities, LLC, allowing the sale of up to $50 million of its common stock.
Finally, Aileron is conducting a direct registered offering of its securities, aiming to raise approximately $20 million. These recent developments reflect Aileron Therapeutics' continuous efforts to advance treatments for orphan pulmonary and fibrosis diseases.
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