CYCN - Cyclerion climbs on a series of insider purchases

Cyclerion Therapeutics (CYCN) has added ~14.3% in early hours after the company disclosed a string of insider purchases yesterday.In transactions dated June 03, CEO Peter M Hecht, director, Terrance Mcguire, and top institutional shareholder, Slate Path Capital have made combined purchases of ~1.9M of company shares at a total transaction value of $6.0M.Notably, Hecht, the company CEO, and Slate Path Capital have bought ~823.2K and ~961.5K shares at $3.28 and $3.12 apiece, respectively.The total insider purchases at Cyclerion have reached $7.4M in Q2 2021, the highest level since Q2 2019.As shown in the graph, Cyclerion Therapeutics trades flat in the year so far with only ~2.9% gain.On Friday, the company announced an exclusive, global license agreement with Akebia Therapeutics for the development and commercialization of oral sGC stimulator, praliciguat.

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Cyclerion climbs on a series of insider purchases