In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Achaogen Inc. (NASDAQ:AKAO) reported that Duggan Robert W has picked up 2,035,888 of common stock as of 2017-03-28.
The acquisition brings the aggregate amount owned by Duggan Robert W to a total of 2,035,888 representing a 5.7% stake in the company.
For those not familiar with the company, Achaogen, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE). Plazomicin is an aminoglycoside designed to overcome clinically relevant aminoglycoside resistance mechanisms. In addition, its research and development pipeline includes two programs that specifically target Pseudomonas aeruginosa or Acinetobacter baumannii infections: a program to discover and develop small molecule inhibitors of LpxC, which is an enzyme essential for the synthesis of the outer membrane of gram-negative bacteria, and a therapeutic antibody program. Its development plan for plazomicin includes over two Phase III clinical trials.
A glance at Achaogen Inc. (NASDAQ:AKAO)’s key stats reveals a current market capitalization of 892.04 Million based on 35.78 Million shares outstanding and a price at last close of $23.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-19, Viswanathan picked up 500,000 at a purchase price of $13.50. This brings their total holding to 5,215,128 as of the date of the filing.
On the sell side, the most recent transaction saw Hillan unload 3,079 shares at a sale price of $26.58. This brings their total holding to 98,422.
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 Achaogen Inc. (NASDAQ:AKAO) as things move forward to see if its progress aligns with these transactions.
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