The share purchase took place in early December and follows the company’s recent annual general meeting.
Pharmaxis is considered an enticing target for drug acquisition and partnerships as it continues to develop its fibrosis and inflammation drugs.
The company is looking to build on its prior drug commercialisation success which saw it do a deal in 2015 in with a potential value of over A$750 million.
The successful drug was to treat the liver disease, non-alcoholic steatohepatitis (NASH).
Pharmaxis is targeting LOXL2 to reduce liver fibrosis and the liver disease NASH and has received strong interest from large pharmaceutical companies.
Mergers and acquisitions are increasing in the fibrosis and NASH space and there is evidence of structural pressure on big pharma to drive this M&A trend further.
McComas acquired his stock for an average price of $0.27 and the current price is $0.26.