Aspen Neuroscience (NASDAQ:ASPE) Stock: Insider Peter Thompson Buys 1,000,000 Shares

Aspen Neuroscience, Inc. (NASDAQ:ASPE) Director Peter Thompson acquired 1,000,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the director owned 3,589,132 shares in the company, valued at $53,836,980. The trade was a 38.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Aspen Neuroscience Price Performance

Shares of ASPE traded up $0.47 during mid-day trading on Wednesday, reaching $12.76. 312,690 shares of the company’s stock were exchanged, compared to its average volume of 516,297. Aspen Neuroscience, Inc. has a 52-week low of $11.20 and a 52-week high of $14.90.

Aspen Neuroscience, Inc is a biotechnology company focused on developing regenerative medicine therapies for neurological disorders. The company’s approach uses a patient’s own cells to create induced pluripotent stem cells, which are then differentiated into specialized cells intended to replace damaged or lost tissue.

Aspen’s lead program, ANPD001, is designed as a potential cell replacement therapy for Parkinson’s disease. The company has also developed genetic screening and manufacturing processes intended to evaluate a patient’s cells and produce an individualized therapeutic product.

Aspen Neuroscience is headquartered in San Diego, California.