PPHM announced that Eastern Capital has purchased 18.5 million shares of PPHM valued at US$1.08 per share. This makes Eastern Capital one of the largest institution investors on board.
This is an important development as it allows PPHM to continue to pursue its many trials involving their lead drug Bavituximab with various collaborators' drugs, especially with AstraZeneca's durvalumab which has now been expanded into a global Phase II study, capitalising on Astrazeneca's global network.
Still, the main driver of PPHM's growth will be the eventual approval of Bavituximab by the FDA.
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