Apogee Therapeutics’ chief medical officer sells $221,362 in inventory

WALTHAM, MA—Carl Dambkowski, Chief Medical (TASE:PMCN) Officer of Apogee (NASDAQ:APOG) Therapeutics, Inc. (NASDAQ:APGE), a $2.52 billion market cap biotech firm, lately reported important transactions involving the corporate’s inventory. In keeping with a Type 4 submitting with the Securities and Alternate Fee, Dambkowski bought a complete of 4,540 shares of Apogee Therapeutics’ widespread inventory on December 11, 2024. The shares had been bought at costs starting from $48.62 to $50.00, amounting to a complete transaction worth of roughly $221,362. The sale comes because the inventory has skilled a virtually 11% decline over the previous week, regardless of posting a outstanding 91% achieve over the previous 12 months.

Moreover, Dambkowski exercised inventory choices to amass 1,815 shares at a value of $22.86 per share, with the full worth of those acquisitions reaching $41,490. Following these transactions, Dambkowski holds 258,073 shares of the corporate.

The gross sales had been carried out below a pre-established Rule 10b5-1 buying and selling plan, which was adopted on August 21, 2024. This plan permits insiders to arrange a predetermined schedule for promoting shares to keep away from any potential allegations of insider buying and selling.

In different latest information, Apogee Therapeutics is making notable strides in its drug improvement. The corporate’s ongoing Part 1 scientific trial of APG777, a therapy for moderate-to-severe atopic dermatitis, has proven promising outcomes, in keeping with numerous stories. Guggenheim and Stifel have maintained their Purchase rankings on Apogee, with Guggenheim elevating the value goal to $110 from the earlier $95, primarily based on the corporate’s promising analysis and improvement technique.

The corporate has additionally initiated a Part 1 trial for APG990, with interim information anticipated in 2025. Apogee’s monetary place stays sturdy, with $790 million in belongings projected to assist the persevering with improvement of its pipeline into 2028. By way of company progress, Jeff S. Hartness has been appointed as the brand new Chief Business Officer, and Dr. Lisa Bollinger has joined the board of administrators.

These latest developments underscore the potential of Apogee’s technique, which focuses on monoclonal antibodies that focus on clinically validated epitopes. Analysts recommend that this methodical method may supply Apogee a aggressive edge within the atopic dermatitis market, which is projected to develop to roughly $30 billion by 2035. These are the latest developments at Apogee Therapeutics.

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