Biotech Stock QURE Once Tagged 'Failed Product' - CEO Sold Shares Days Before Rally

(MENAFN- AsiaNet News)

Matthew Kapusta, CEO of uniQure N.V., sold 14,581 shares at $9.06 on March 4 for about $132,103, reducing his stake by 2.16%, according to a Form 4 filed with the U.S. Securities and Exchange Commission.

Shares of uniQure surged over 51% in after-hours trading after gaining 34% during Friday’s session after FDA Commissioner Vinay Prasad’s exit.

On Stocktwits, QURE was trending at number 4 with“extremely bullish” sentiment.

UniQure’s (QURE) CEO, Matthew Kapusta, sold over 14,581 shares of the company’s stock on Wednesday as FDA pressure intensified.

A Form 4 filed with the U.S. Securities and Exchange Commission states that the CEO sold his shares at an average price of $9.06 per share. The filing states that the deal generated about $132,103. After the sale, Kapusta still owned 660,658 shares, but the deal cut the CEO’s direct stake in the biotech company by about 2.16%. The filing noted that the sale was tied to the vesting of restricted share units granted under the company’s equity compensation plan. However, it stands out as the CEO sold his shares shortly before a major rally.

In after-hours trading, uniQure rose by over 51%, following a 34% rise during the day on Friday. The stock’s price rose shortly after reports said that a senior U.S. drug regulator who had been critical of the company is leaving the U.S. Food and Drug Administration (FDA). On Stocktwits, QURE was trending at number 4, as retail sentiment around it remained in ‘extremely bullish’ territory, accompanied by ‘extremely high’ chatter levels over the past day.

What Is Retail Saying?

On Stocktwits, one user noted that uniQure N.V. was trading around $14.27, well above its recent levels, while daily volume averaged about 2.7 million shares. The trading activity had recently surged, with volume peaking at roughly 17 million shares on Friday, suggesting heightened investor interest in the stock, as per historical data.

Earlier this week, the Wall Street Journal reported that a“senior FDA official” publicly criticized the company’s handling of the situation, saying that the data supporting the therapy were flawed and that the drug candidate did not meet the agency’s approval standards. The official also said the company was lying about regulatory talks and that the gene therapy was a “failed product.” This came as unusual to many, as regulators do not comment on experimental drugs that are still being studied.

FDA’s Prasad Identified As ‘Senior Official’

On X, many, including Congressman Jake Auchincloss (D-MA-04), noted that the ‘senior official’ in question was Prasad himself. He wrote,“This ‘senior official’ was Vinay Prasad. Disclosing trade secret information without legal authorization is a prohibited act under the FDCA & a criminal violation under the Trade Secrets Act.”

Congressman Jake Auchincloss on FDA’s Vinay Prasad. Source: @RepAuchincloss/x

Earlier this week, uniQure reportedly said that the FDA had asked for another study comparing the therapy to a placebo using a fake brain surgery. Many analysts said that this requirement could be hard to do and raise ethical questions. The request caused the stock to drop much earlier in the week.

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