On November 22, 2024, Trieu Vuong, Chairman and CEO of Oncotelic Therapeutics, Inc. (OTCQB:OTLC), purchased 298,499 shares of the company's common stock. The shares were acquired at a price of $0.0289 per share, amounting to a total transaction value of $8,626. Following this transaction, Vuong now directly holds 92,842,716 shares of Oncotelic Therapeutics.
In addition to his direct holdings, Vuong also maintains indirect ownership of 16,780,384 shares through Autotelic, Inc., and 6,872,529 shares through his spouse. This acquisition highlights Vuong's continued investment in the company, which operates in the pharmaceutical preparations industry.
InvestingPro Insights
Trieu Vuong's recent purchase of Oncotelic Therapeutics (OTCQB:OTLC) shares aligns with the company's current market dynamics. According to InvestingPro data, OTLC's market capitalization stands at $13.33 million, reflecting its micro-cap status in the pharmaceutical sector.
The stock's recent performance has been mixed. While OTLC has shown a strong 55.34% return over the last three months, it has experienced a 20.52% decline over the past year. This volatility is consistent with an InvestingPro Tip indicating that the stock generally trades with high price volatility.
Investors should note that OTLC faces some financial challenges. An InvestingPro Tip reveals that the company is not profitable over the last twelve months, which is reflected in its negative operating income of $0.46 million for the same period. Additionally, OTLC suffers from weak gross profit margins, which could impact its ability to generate sustainable profits in the near term.
Despite these challenges, Vuong's significant share purchase may signal confidence in the company's long-term prospects. However, potential investors should be aware that OTLC does not pay a dividend to shareholders, as noted by another InvestingPro Tip.
For a more comprehensive analysis, InvestingPro offers 6 additional tips for OTLC, providing deeper insights into the company's financial health and market position.
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