In recent transactions reported by Orgenesis Inc . (NASDAQ:OTC:ORGS), a small-cap biotechnology company currently trading at $1.30 and down 74% year-to-date, Jacob Safier, a 10% owner, engaged in both buying and selling activities of the company's common stock. According to InvestingPro analysis, the company appears slightly undervalued despite its challenging market performance. On April 10, 2024, Safier acquired 10,000 shares at $0.5948 per share, and later sold the same amount at $0.5444 per share. Another round of transactions on April 16 saw him purchase 10,000 shares at $0.5135 and sell them at $0.5001. The final set of transactions occurred on June 24, where Safier bought shares at $0.5800 and sold them at $0.5814.
Overall, the sales transactions amounted to a total of $16,259, while the purchases totaled $16,883. These transactions were carried out indirectly through JSAF Holdings, LLC, a firm associated with Safier.
In other recent news, Orgenesis Inc. has reported significant developments. The biotech firm announced the immediate resignation of Mark Goodman from its board of directors. Despite this change, Goodman will continue to contribute as a strategic advisor. Orgenesis also faced a shift in stock market presence, transitioning from the Nasdaq Stock Market to the OTCQX marketplace due to non-compliance with listing requirements.
In terms of partnerships and funding, Orgenesis reported forming a joint venture with Harley Street Healthcare Group to develop and commercialize wellness and longevity therapies, with a committed investment of up to $10 million over the next three years. Additionally, the company secured an extra $750,000 from investor Jacob Safier, bringing the total loan amount to $1 million.
On the research front, Orgenesis revealed encouraging results from a study of its CD19 CAR-T therapy, ORG-101, for Acute Lymphoblastic Leukemia treatment. It also expanded its equity incentive plan by 9 million shares and elected five new directors to its board. Lastly, Orgenesis announced a collaboration with Germfree to make cell and gene therapy treatments more affordable and accessible.
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