CEO of Immune Pharmaceuticals Buys 19,000 Shares of Company

He announces financing that makes it possible to complete clinical trials on new drug

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Oct 14, 2015
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Daniel Teper (Insider Trades), CEO and 10% owner of Immune Pharmaceuticals Inc. (IMNP), bought 19,000 shares of the company on Oct. 12. The average price per share was $1.30, for a total transaction of $24,700.

Immune Pharmaceuticals applies a personalized approach to developing novel, highly targeted antibody therapeutics for patients with inflammatory diseases and cancer. The company has a market cap of $36.68 million.

Teper bought 67,269 shares of the company in three transactions since September. Overall, there were five insider buys totaling 167,269 shares from January to October. In comparison, IMNP insiders bought 38,400 shares of the company in five transactions in 2014. There was about a 1.3% drop in month-end price from January 2014 to January 2015. Insider buy volume increased approximately fourfold in these two years. 02May2017191955.png 02May2017191955.png

For more information about insider transactions with IMNP, click here.

The company reported a net loss of $2.931 million, or 12 cents per share, in the second quarter of 2015. Net income is down from a net loss of $412,000, or 3 cents per share, reported by the company in the corresponding quarter of the previous year. Annual net income decreased 1.67% since 2010. 02May2017191956.png Annual revenue also follows a decreasing trend. 02May2017191956.png The company announced funding of up to $21.5 million from institutional investors on July 29. The investors, Hercules Technology Growth Capital Inc. (HTGC, Financial) and Discover Growth Fund, agreed to $9.5 million and $12 million. Teper said the securing of financing will “provide the resources needed to allow completion of [the company’s] Phase II clinical trials of Bertilimumab.” Bertilimumab is being studied as a treatment of bullous pemphigoid and ulcerative colitis as well as Crohn’s disease, NASH and severe asthma. The company received an additional $3 million in gross proceeds from Discover Growth Fund.

According to information from GuruFocus.com, the company has a business predictability rank of 1 out of 5 stars. For more information about business predictability rank, click here.

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