The simultaneous large open-market purchases by two 10% owners (Simeon and SR ONE) at $17/share signal strong conviction ahead of potential catalysts. Monitor for upcoming clinical data readouts or partnership announcements that may have motivated this buying.
Price Chart
Executive Summary
Director and 10% owner George Simeon made two open-market purchases totaling ~$17.1M at $17/share, while 10% owner SR ONE CAPITAL MANAGEMENT also bought ~$10.1M worth. These are large, conviction buys by key insiders, representing a strong bullish signal. The non-cash derivative conversions by LAV Biosciences and Simeon are structural and do not affect the directional read.
Key Financial Metrics
Key Facts
- George Simeon (Director, 10% Owner) purchased 1,007,407 shares in two open-market transactions totaling $17.1M at $17.00/share.
- SR ONE CAPITAL MANAGEMENT, LLC (10% Owner) purchased 592,593 shares in an open-market transaction totaling $10.1M at $17.00/share.
- Total open-market buying value: ~$27.2M.
- LAV Biosciences Fund V converted derivatives into 24,184,649 shares at $0 (non-cash).
- George Simeon also converted derivatives into 14,115,469 shares at $0 (non-cash).
- All transactions occurred on 2026-09-28.
Financial Impact
Total open-market purchases of ~$27.2M, representing a significant insider vote of confidence. Market cap not provided, but absolute dollar value is material for a clinical-stage biotech.
Risk Factors
- Non-cash derivative conversions by LAV Biosciences and Simeon add ~38.3M shares to the float, creating potential overhang.
- Clinical-stage biotech carries binary risk; insider buying does not guarantee positive trial outcomes.
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ADRX-1790732767006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | SC 13G | $17.63 $17.68 | ▲ +0.28% | ▼ −0.05% | $18.63 (+5.67%) |
Oct 5, 2026 21d ago | SC 13D | $18.58 $17.33 | ▼ −6.73% | ▼ −6.49% | $18.63 (+0.27%) |
Oct 2, 2026 24d ago | SC 13D | $19.05 $18.58 | ▼ −2.47% | ▼ −3.02% | $18.63 (−2.20%) |
Oct 1, 2026 25d ago | Press Release | $18.25 $19.05 | ▲ +4.38% | ▲ +3.71% | $18.63 (+2.08%) |
Oct 1, 2026 25d ago | SC 13G | $18.25 $19.05 | ▲ +4.38% | ▲ +3.71% | $18.63 (+2.08%) |
Sep 30, 2026 26d ago | Insider Cluster | $19.54 $18.25 | ▼ −6.60% | ▼ −7.34% | $18.63 (−4.66%) |
Sep 29, 2026 27d ago | Insider Cluster | $19.94 $19.54 | ▼ −2.01% | ▼ −2.18% | $18.63 (−6.57%) |
Sep 25, 2026 4w ago | 424B4 | $20.09 $20.64 | ▲ +2.71% | ▲ +2.90% | $18.63 (−7.27%) |
Sep 25, 2026 4w ago | EFFECT | $19.35 $20.09 | ▲ +3.82% | ▲ +4.57% | $18.63 (−3.72%) |
Sep 24, 2026 4w ago | Press Release | $19.35 $20.09 | ▲ +3.82% | ▲ +4.57% | $18.63 (−3.72%) |
US Market Status
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