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CYCN - Cyclerion Therapeutics: This Spinoff Has Multiple Readouts Coming Up Concerns Remain
Cyclerion Therapeutics Inc.
Cyclerion Therapeutics (CYCN) is a recent spin off from Ironwood Pharmaceuticals (IRWD) that caught my attention after President Mark Currie acquired over 270,000 shares (paid $14.81 for total of around $4 million). Keep in mind Mr. Currie already had received 51,648 shares via the actual spinoff itself. I should point out that Mr. Currie is the primary inventor of LINZESS (closing in on blockbuster status) and also led discovery/pharmacology for Celebrex and Lunesta (achieved around $3 billion and $1 billion of peak sales, respectively). It's a good sign that Mr. Currie