In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Dipexium Pharmaceuticals Inc. (NASDAQ:DPRX) reported that Plx Pharma Inc. has picked up 4,414,270 of common stock as of 2017-01-03.
The acquisition brings the aggregate amount owned Plx Pharma Inc. to a total of 4,414,270 representing a 39.63% stake in the company.
For those not familiar with the company, Dipexium Pharmaceuticals, Inc. is a late-stage pharmaceutical company. The Company is focused on the development and commercialization of Locilex (pexiganan cream 0.8%), a first-in-class, broad spectrum, topical antibiotic. Locilex is focused on the treatment of mild infections of diabetic foot ulcers (Mild DFI). As a topical antibiotic, Locilex affects only the area to which it is applied, and does not spread to the entire body through the bloodstream, which is host to a number of different bacteria other than bacteria causing the skin infection. It is conducting over two Phase III clinical trials of Locilex for the treatment of Mild DFI (DPX-305 and DPX-306) in the United States.
A glance at Dipexium Pharmaceuticals Inc. (NASDAQ:DPRX)’s key stats reveals a current market capitalization of 16.13 million based on 10.40 million shares outstanding and a price at last close of $1.60 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-05-21, Dean picked up 3,000 at a purchase price of $9.00. This brings their total holding to 48,917 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Dipexium Pharmaceuticals Inc. (NASDAQ:DPRX) as things move forward to see if its progress aligns with these transactions.
Subscribe below and we’ll keep you on top of what’s happening before it moves markets.