Cyclerion Therapeutics jumps as CEO raises stake
08/06/2021 11:58
** Shares of biotech co CYCN.O jump 13.3% to $3.57
premarket, set to snap four-day losing streak
** CEO Peter Hecht bought 823,170 shares of CYCN in a
private placement on June 3, raising his stake in the company to
8.6%, according to a filing https://www.sec.gov/Archives/edgar/data/1755237/000114036121020086/brhc10025534_sc13da.htm
late on Monday
** Hecht will now become CYCN's second biggest shareholder -
Refinitiv Eikon data
** Co signed a global licensing deal with Akebia
Therapeutics for its kidney disease drug, praliciguat, last
week urn:newsml:reuters.com:*:nL3N2NM311
** About 247,000 shares changed hands by 6:45 a.m. ET; CYCN
among the 10 most actively traded stocks before the bell
** Shares up 3% this year vs a 4.9% rise in the Nasdaq
biotech index .NBI
(Reporting by Medha Singh in Bengaluru)
((medha.singh@thomsonreuters.com))