BOSTON—Elisabet de los Pinos, President and CEO of Aura Biosciences, Inc. (NASDAQ:AURA), recently sold 9,200 shares of the company's common stock. The shares were sold at a weighted average price of $10.7378, totaling approximately $98,787. This transaction was executed on October 29, 2024, to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the company's SEC filing. Following this sale, de los Pinos holds 320,647 shares directly, with additional shares held indirectly through the Elisabet de los Pinos Revocable Trust.
In other recent news, Aura Biosciences has been making significant strides in its clinical trials. The company reported encouraging results from its Phase I study of AU-011, a treatment for non-muscle invasive bladder cancer. The treatment showed potential, with four out of five patients achieving complete clinical responses at low doses. TD Cowen reaffirmed its Buy rating for shares of Aura Biosciences following these results. Other investment firms, including Scotiabank, H.C. Wainwright, and BTIG, also responded positively, raising their stock targets for Aura Biosciences.
In addition to AU-011, Aura Biosciences is making progress with another drug candidate, bel-sar, which is under testing for non-muscle invasive bladder cancer and early-stage choroidal melanoma. Promising results from Phase 1 and Phase 2 trials have led to increased confidence from investment firms. Aura Biosciences is preparing for a Phase 2 trial to further evaluate bel-sar and is currently conducting a pivotal Phase 3 trial, with data expected in 2026.
The company's financial position remains robust, with a third-quarter cash estimate of $165 million, projected to sustain operations until the second half of 2026. There have also been changes in its financial leadership, with the departure of CFO Julie Feder and the appointment of Amy Elazzouzi as interim CFO. These are recent developments for Aura Biosciences as it continues to focus on the development of precision therapies for solid tumors.
InvestingPro Insights
As Aura Biosciences' CEO Elisabet de los Pinos executed a stock sale for tax purposes, investors might be interested in additional financial insights about the company. According to InvestingPro data, Aura Biosciences has a market capitalization of $544.68 million, reflecting its current valuation in the biotech sector.
Despite the recent stock sale by the CEO, Aura Biosciences has shown strong market performance. InvestingPro Tips highlight that the company has experienced a significant price uptick over the last six months, with a total price return of 44.73% during this period. This positive momentum is further supported by a robust 20.2% return over the last month, indicating growing investor interest in the company's prospects.
However, it's important to note that Aura Biosciences is not currently profitable, with a negative P/E ratio of -6.74 for the last twelve months as of Q2 2024. This aligns with another InvestingPro Tip stating that the company has not been profitable over the last twelve months. This is not uncommon for biotech companies in development stages, as they often prioritize research and development over immediate profitability.
On a positive note, Aura Biosciences holds more cash than debt on its balance sheet, suggesting a strong liquidity position. This financial stability is crucial for biotech firms as they navigate the costly process of drug development and clinical trials.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Aura Biosciences, providing a deeper understanding of the company's financial health and market position.
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