In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Eleven Biotherapeutics Inc. (NASDAQ:EBIO) reported that Flagship Ventures Fund 2007, L.p. has picked up 829,982 of common stock as of 2017-04-07.
The acquisition brings the aggregate amount owned by Flagship Ventures Fund 2007, L.p. to a total of 829,982 representing a 3.4% stake in the company.
For those not familiar with the company, Eleven Biotherapeutics, Inc. is a preclinical-stage biopharmaceutical company. The Company applies its AMP-Rx platform to the discovery and development of protein therapeutics to treat diseases of the eye. The Company’s product candidate, which is still in preclinical development, is EBI-031, which was designed, engineered and generated using its AMP-Rx platform and are developing as an intravitreal injection for diabetic macular edema (DME) and uveitis. The Company’s therapeutic approach is based on the role of cytokines in diseases of the eye, its understanding of the structural biology of cytokines and its ability to design and engineer proteins to modulate the effects of cytokines. The Company is developing EBI-031 as an intravitreal injection for DME and uveitis. In addition to EBI-031, the Company has another product candidate in early preclinical development, which is designed to block vascular endothelial growth factor (VEGF).
A glance at Eleven Biotherapeutics Inc. (NASDAQ:EBIO)’s key stats reveals a current market capitalization of 47.44 Million based on 24.70 Million shares outstanding and a price at last close of $1.98 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-02-11, Flagship picked up 32,912 at a purchase price of $10.00. This brings their total holding to 293,268 as of the date of the filing.
On the sell side, the most recent transaction saw Mccabe unload 1,399 shares at a sale price of $2.10. This brings their total holding to 5,930.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Eleven Biotherapeutics Inc. (NASDAQ:EBIO) as things move forward to see if its progress aligns with these transactions.
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