Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF) said its chief executive Jeremy Skillington has bought 718,733 shares in the drug developer for 4.78p each.
Investors view share purchases of this kind favourably as they are seen as aligning management and shareholders’ interests with the former viewed as having ‘skin in the game’.
It is understood it is the first opportunity the Poolbeg CEO has been afforded under stock market rules to acquire stock.
“Following the significant levels of activity and excellent progress that has been made across our growing asset portfolio over recent months, I am pleased to now finally have the opportunity to purchase shares in the company,” Skillington told investors.
“Poolbeg is entering a very exciting phase in its development with a number of near-term value inflexion points and I am confident in our potential to create future value for the company and our shareholders through advancing and partnering our pipeline of infectious disease treatments.”