Aspen Neuroscience (NASDAQ:ASPE) Major Shareholder Acquires 1,200,000 Shares of Company Stock

Aspen Neuroscience, Inc. (NASDAQ:ASPE) major shareholder Venture Fund L.P. Arch purchased 1,200,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $18,000,000.00. Following the completion of the acquisition, the insider directly owned 1,200,000 shares of the company’s stock, valued at approximately $18,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Aspen Neuroscience Stock Down 12.4%

Shares of NASDAQ:ASPE traded down $1.85 during trading on Monday, hitting $13.04. 596,475 shares of the stock traded hands. Aspen Neuroscience, Inc. has a 52-week low of $11.60 and a 52-week high of $14.90.

Aspen Neuroscience, Inc is a biotechnology company focused on developing regenerative medicine therapies for neurological disorders. The company’s approach uses a patient’s own cells to create induced pluripotent stem cells, which are then differentiated into specialized cells intended to replace damaged or lost tissue.

Aspen’s lead program, ANPD001, is designed as a potential cell replacement therapy for Parkinson’s disease. The company has also developed genetic screening and manufacturing processes intended to evaluate a patient’s cells and produce an individualized therapeutic product.

Aspen Neuroscience is headquartered in San Diego, California.