Aspen Neuroscience (NASDAQ:ASPE) Director Purchases 1,000,000 Shares of Company Stock

Aspen Neuroscience, Inc. (NASDAQ:ASPE) Director Peter Thompson purchased 1,000,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the director directly owned 3,589,132 shares in the company, valued at approximately $53,836,980. This represents a 38.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Aspen Neuroscience Stock Performance

Shares of ASPE traded up $0.47 on Wednesday, reaching $12.76. The stock had a trading volume of 312,690 shares, compared to its average volume of 516,297. Aspen Neuroscience, Inc. has a twelve month low of $11.20 and a twelve month 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.