Ondine Biomedical, Inc. ( (GB:OBI) ) has provided an update.
Ondine Biomedical Inc. announced that The Pennycook Family Trust, controlled by CEO Carolyn Cross and her husband Robert Cross, has purchased 100,000 shares in the company. This acquisition increases their stake to over 35% as the company progresses with its Phase 3 clinical trial. This strategic move underscores the confidence of the leadership in Ondine’s operations and its market potential, particularly as it advances its pipeline of light-activated antimicrobial therapies.
More about Ondine Biomedical, Inc.
Ondine Biomedical Inc. is a Canadian life sciences company specializing in light-activated antimicrobial therapies, also known as photodisinfection. The company has a range of investigational products in development, and its nasal photodisinfection system, Steriwave®, is approved in Europe, Canada, and other countries. In the U.S., it has been granted Fast Track status by the FDA and is undergoing clinical trials. Ondine’s technology is applied to various medical conditions, including chronic sinusitis and ventilator-associated pneumonia.
YTD Price Performance: 42.86%
Average Trading Volume: 520,482
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £50.5M
See more data about OBI stock on TipRanks’ Stock Analysis page.