Retension Pharmaceuticals, Inc. (NASDAQ:RTSN – Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 62,034 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 118,161 shares, the short-interest ratio is presently 0.5 days.
Insider Activity
In other Retension Pharmaceuticals news, Director Franklin Berger purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The stock was bought at an average cost of $12.00 per share, for a total transaction of $120,000.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $120,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Keller bought 20,800 shares of the business’s stock in a transaction dated Tuesday, October 13th. The stock was bought at an average cost of $12.00 per share, for a total transaction of $249,600.00. Following the completion of the purchase, the chief executive officer owned 423,377 shares of the company’s stock, valued at approximately $5,080,524. The trade was a 5.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.
Retension Pharmaceuticals Price Performance
NASDAQ:RTSN traded down $0.47 during mid-day trading on Friday, hitting $11.36. 58,701 shares of the company traded hands, compared to its average volume of 162,176. Retension Pharmaceuticals has a one year low of $9.66 and a one year high of $18.64.
About Retension Pharmaceuticals
We are a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases. Our product candidate, RTN-001, is a next-generation, once-daily, oral, small molecule phosphodiesterase-5 (“PDE-5”) inhibitor designed to reduce blood pressure by potentiating nitric oxide signaling, a key mechanism underlying the development and severity of hypertension. While first-generation PDE-5 inhibitors, such as Viagra (sildenafil), were originally studied in cardiovascular indications such as hypertension and angina, we believe they did not have adequate bioavailability and tissue penetration to impact the smooth muscle cells of the central vascular and cardiac tissues and thus failed to achieve clinically meaningful reductions in blood pressure.
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