SAN DIEGO—Ma Songjiang, President of Gyre Therapeutics, Inc. (NASDAQ:GYRE), lately offered a portion of his holdings within the firm. Based on a submitting with the Securities and Trade Fee, Songjiang offered a complete of two,216 shares of widespread inventory over two days, with transactions occurring on January 6 and January 7, 2025. The gross sales come as GYRE shares have declined 17% prior to now week, based on InvestingPro information.
The gross sales had been executed below 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 entire 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 below 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 over the past twelve months. InvestingPro subscribers can entry 7 extra key insights about GYRE’s monetary well being and valuation metrics.
In different latest information, Gyre Therapeutics has seen a number of vital modifications in its management. The biotechnology agency 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 Associate 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 Prescribed drugs, Ying Luo stepped down as Chairman, with Songjiang Ma getting into the position. These developments are a part of the latest modifications throughout the firm.
By way of 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 Prescribed drugs, is making strides within the Individuals’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.
This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.
