Verve director acquires $18M in company stock
Ok this is one of those they did a secondary but they got it off at $10 and a big buyer obviously was a director-- not the CEO.
I like this still $18 M is a big buy but in general these buys tied to secondaries can be seen as propping up the stk but that's usually 1 mil or 2... $10 is a commitment.
What wets the appetite is a recent sell off due to two deaths in trials---
Verve Therapeutics, Inc. (VERV) 30% on sale>
NasdaqGS - NasdaqGS Real Time Price.
12.22+0.65(+5.57%)<---------------------- Go Long/ Give it a try.
As of 09:50AM EST. Market open.
Gene editing and heart attacks
Verve is trying to build cutting-edge, gene-editing tools to help people deal with cardiovascular disease. Specifically, it hopes to commercialize its Verve-101 tool to edit human genes in people with naturally high LDL cholesterol (the bad cholesterol), which is correlated with heart disease. There are an estimated 3 million people in the United States and Europe affected by this condition, which indicates a potentially huge market for Verve if they can get this treatment commercialized.
This week, the company released some updated data for investors regarding a trial it is doing with the Verve-101 tool in humans. The market seems to be reacting to some concerning news with the 10 people Verve has trialed,
as two of the patients died from heart attacks after receiving the treatment. Seeing this headline, the market reacted swiftly with investors likely concerned over the efficacy of this early-stage technology.
However, if we look under the hood, these heart attacks, from a research perspective, may not be as bad as they seem.
Verve is purposefully looking for patients with extreme cardiovascular conditions, meaning they were already highly likely to have a heart attack before taking the drug. On a positive note, the trial indicates a 55% reduction in LDL levels for the patients, which is a huge improvement from current cholesterol-reduction methods.