GlobeImmune Inc (NASDAQ:GBIM) insider has recently participated in insider trading activity. Director, MITCHELL DANIEL J sold 11,922 shares for $16,904 via one transaction Feb 18. Following the transaction, the insider now owns 6,074 shares in total, priced at $8,625.08 as of Thursday. Another notable insider trading was done by the same insider on Feb 17. MITCHELL DANIEL J sold 7,934 shares at an average price of $1.47 for a total of $11,702. Moreover, this insider carried out a sale of 5,000 shares at $1.51 each on Feb 16. The transaction amounted to $7,550. Director MITCHELL DANIEL J sold 2,041 shares for $3,053 through one transaction Feb 16. Following this sale, this insider’s stake in the company comprises 6,610 shares, priced at $9,386.2 as of Thursday.
The stock has experienced a total of 9 insider trades in the past three months. These trades include 9 sell activities and 0 buy trades. Furthermore, over the past 12 months, the stock was traded 9 times by insiders. In 9 of these trades, the insider was a seller while an employee of the company was the buyer in just 0 instances.
GlobeImmune Inc (GBIM) on November 13, 2015 announced its third quarter 2015 financial results.
GlobeImmune reported net income of $0.9 million for the three months ended September 30, 2015, compared to a net loss of $6.4 million for the same period in 2014. Net cash used in operating activities for the first nine months ending September 30, 2015 was $5.7 million, compared to $8.0 million for the same period in 2014. The Company’s net income for the three months ended September 30, 2015 is due to the license revenue from Celgene licensing GI-6207 and losses have resulted principally from costs incurred in its discovery and development activities.
Total research and development expenses for the three months ended September 30, 2015, were $1.0 million, compared to $1.8 million for the same period in 2014. General and administrative expenses were $1.0 million for the three months ended September 30, 2015, compared to $1.0 million for the same period in 2014. During the period, decreases in compensation expense due to layoffs were offset by severance costs.
At September 30, 2015, GlobeImmune had cash and cash equivalents of $11.3 million. The Company believes that existing cash and cash equivalents will allow the Company to fund operations through 2016, based on current operations.
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