BURLINGAME, CA—Cero Therapeutics Holdings, Inc. (NASDAQ:CERO), a micro-cap biotech company with a market capitalization of $16.44 million, recently experienced significant stock sales by YK Bioventures Opportunities Fund I, L.P., a major shareholder. According to a recent SEC filing, the fund sold a total of 3,659,364 shares over three days, from December 6 to December 10, 2024, generating approximately $383,369.
The sales were executed at prices ranging from $0.09 to $0.12 per share, with the stock now trading near its 52-week low of $0.06, down 99% year-to-date. After these transactions, YK Bioventures Opportunities Fund I, L.P. retains ownership of 18,962,419 shares of Cero Therapeutics. InvestingPro analysis reveals multiple warning signs, including significant price volatility and weak financial metrics.
The shares are held directly by YK Bioventures Opportunities Fund I, L.P., with YK Bioventures Opportunities GP I, LLC acting as the general partner. Mitchell W. Kossar and Gary K. Yeung, managing partners, are noted to have shared voting and investment power over the shares. However, they disclaim beneficial ownership except to the extent of their pecuniary interest.
These transactions reflect ongoing activity by major shareholders in Cero Therapeutics, a company engaged in the life sciences sector.
In other recent news, CERo Therapeutics has received FDA approval to begin Phase 1 clinical trials for its leading drug candidate, CER-1236, targeting acute myelogenous leukemia (AML). The company has also faced potential delisting from NASDAQ due to non-compliance with the exchange's minimum bid price requirement and the Market Value of Listed Securities requirement, but has requested a hearing to appeal this decision. Amid these challenges, CERo Therapeutics has seen significant changes in its management team, with the appointments of Al Kucharchuk as Chief Financial Officer and Kristen Pierce as Chief Development Officer, and the addition of Shami Patel to the board of directors. Despite a clinical hold by the FDA on CER-1236, the company has completed pre-IND manufacturing activities for the drug and plans to commence clinical trials in 2025. The company also reported a cash balance of $3.2 million as of September 2024, and secured $1.25 million from existing investors. These recent developments highlight CERo Therapeutics' ongoing efforts to overcome current challenges and advance its strategic objectives.
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