Terry McGuire, a director at Invivyd, Inc. (NASDAQ:IVVD), a $65.43 million market cap biotechnology company, recently sold shares of the company's common stock totaling $103,384. The transactions occurred on December 12 and December 16, with the stock prices ranging from $0.4668 to $0.583 per share, near the stock's 52-week low of $0.45. According to InvestingPro analysis, the stock is currently trading below its Fair Value.
On December 12, McGuire sold 125,000 shares at an average price of approximately $0.583 per share. Following this transaction, McGuire retained ownership of 4,077,679 shares indirectly. A subsequent sale on December 16 involved 65,359 shares at an average price of $0.4668 per share, leaving McGuire with 4,012,320 shares in indirect ownership. InvestingPro data reveals the company is quickly burning through cash, which could be influencing insider decisions. Subscribers can access 12 additional ProTips and comprehensive analysis in the Pro Research Report.
The shares sold are held by Polaris (NYSE:PII) Partners IX, L.P., with McGuire having an interest in the general partner of this entity. The transactions reflect McGuire's continued involvement in managing his holdings in Invivyd through Polaris Partners, coming at a time when the stock has declined 88.57% year-to-date.
In other recent news, Invivyd, Inc. has reported steady growth in its third-quarter financial results, with a Q3 net product revenue of $9.3 million and an ending cash balance of $107 million. The biotechnology company also announced the immediate resignation of board member, Sara Cotter. Invivyd's antibody, pemivibart, has shown an 80% to 90% reduction in symptomatic COVID-19 risk. The company has also introduced a new antibody candidate, VYD2311, which began human studies in August 2024.
Invivyd is targeting profitability by June 2025 through strategic restructuring to enhance commercial outreach, primarily serving the immunocompromised community. The company is also in discussions with the FDA regarding the regulatory pathway for VYD2311. 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. These are among the recent developments for Invivyd, Inc.
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