James E. Flynn, a large shareholder at Proteon Therapeutics Inc (NASDAQ:PRTO) disclosed today the acquisition of 1,255,107 shares of common stock through fourteen separate transactions on October 27, 2014. The first three transactions, totaling 563,394 shares, correspond to a conversion of derivative securities of Series D Preferred Stock. The remaining 691,713 shares of common stock have been acquired in the open market at a unit price of $10, through eleven different transactions.
These are the first transactions by Mr. Flynn this year, and the combined purchases correspond to the total number of shares indirectly owned, with no additional direct ownership. Most important, no other individual has been purchasing the stock this year, and no institutions (amongst those we track) has reported stock acquisitions.
Proteon Therapeutics Inc (NASDAQ:PRTO) is a United States-based biopharmaceutical company, developing pharmaceuticals to address the medical needs of patients with renal and vascular diseases.
Disclosure: The author, Jodor Jalit, holds no position in any stocks or funds mentioned.