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Neuren Pharmaceuticals Limited ( (AU:NEU) ) has provided an announcement.
Neuren Pharmaceuticals Limited announced changes in the securities interests of its CEO & Managing Director, Jon Pilcher. Pilcher paid $2.8 million to Neuren to settle a loan attached to 1.5 million Loan Funded Shares, which were expiring. Subsequently, 398,207 shares were sold to institutional investors, increasing Neuren’s cash and share capital by $2.8 million and boosting institutional shareholdings by 0.4 million shares. This transaction also elevated Pilcher’s quoted shareholding, placing him among the top 15 beneficial holders and top 10 registered holders. The announcement reflects a strategic financial adjustment for Neuren, potentially enhancing its market position and stakeholder confidence.
The most recent analyst rating on (AU:NEU) stock is a Buy with a A$22.00 price target. To see the full list of analyst forecasts on Neuren Pharmaceuticals Limited stock, see the AU:NEU Stock Forecast page.
More about Neuren Pharmaceuticals Limited
Neuren Pharmaceuticals Limited is focused on developing new drug therapies for serious neurological disorders that emerge in early childhood, which currently have no or limited approved treatment options. The company has received ‘orphan drug’ designation in the United States for its programs, which provides incentives for developing treatments for rare and serious diseases. Neuren’s drug DAYBUE™ (trofinetide) is approved for the treatment of Rett syndrome, and the company has licensed its development and commercialization to Acadia Pharmaceuticals Inc. Neuren’s second drug candidate, NNZ-2591, is in development for multiple neurodevelopmental disorders with positive Phase 2 clinical trial results.
YTD Price Performance: 63.84%
Average Trading Volume: 541,933
Technical Sentiment Signal: Buy
Current Market Cap: A$2.59B
Learn more about NEU stock on TipRanks’ Stock Analysis page.