SAN DIEGO—Ma Songjiang, President of Gyre Therapeutics, Inc. (NASDAQ:GYRE), just lately offered a portion of his holdings within the firm. In response to a submitting with the Securities and Change Fee, Songjiang offered a complete of two,216 shares of frequent inventory over two days, with transactions occurring on January 6 and January 7, 2025. The gross sales come as GYRE shares have declined 17% up to now week, based on InvestingPro information.
The gross sales had been executed underneath a pre-established buying and selling plan, with the shares offered at weighted common costs starting from $10.02 to $10.16 per share. The full worth of those gross sales amounted to roughly $22,336. The inventory at the moment trades at $9.62, with InvestingPro evaluation indicating the shares are buying and selling above their Honest Worth.
Following these transactions, Songjiang now not directly owns 2,916,251 shares, held by his partner. These transactions had been carried out underneath a Rule 10b5-1 buying and selling plan, which permits insiders to arrange a predetermined plan to promote shares in compliance with insider buying and selling legal guidelines. The $827 million market cap firm maintains a powerful monetary place with a present ratio of three.72, although it stays unprofitable during the last twelve months. InvestingPro subscribers can entry 7 extra key insights about GYRE’s monetary well being and valuation metrics.
In different current information, Gyre Therapeutics has seen a number of important adjustments in its management. The biotechnology agency just lately appointed Ping Zhang because the lead impartial director of its Board of Administrators. Along with his board position, Zhang will serve on the Nominating and Company Governance Committee. Zhang brings a wealth of monetary experience from his present place as a Managing Companion at String Capital Administration and former roles at AEON Life Insurance coverage (NS:) Firm and Japan Asia Funding Co.
Concurrently, at Gyre’s not directly owned subsidiary, Gyre Prescription drugs, Ying Luo stepped down as Chairman, with Songjiang Ma getting into the position. These developments are a part of the current adjustments inside the firm.
When it comes to financials, Gyre Therapeutics reported a gross revenue margin of 96.23% with complete revenues of $105.03 million within the final twelve months. Its subsidiary, Gyre Prescription drugs, is making strides within the Folks’s Republic of China, together with ongoing medical trials for F351 and the commercialization of ETUARY® (Pirfenidone capsule), which reported 2023 web gross sales of $112.1 million.
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