Insiders of biopharmaceutical products company Vical Inc. (
) have announced purchasing a combined amount of more than
133,000 shares between three people, reported last week on
GuruFocus Insider Buys
; the purchases came soon after Vical announced that its listing
on the Nasdaq has been upgraded to the highest listing title,
Nasdaq Global Select Market.
Nasdaq-listed companies are classified under three tiers,
primarily set apart by different levels of financial thresholds.
The three tiers are: Global Select Market, Global Market and
Previously listed under the Nasdaq Global Market, Vical was
rewarded the highest tier, Global Select Market, which would
demand adhering to a very elaborate list of federal and income
requirements, essentially proving that the company has reached a
sufficient level of maturity.
"We are honored to be recognized by NASDAQ for our established
record of sound management and fiscal responsibility," said Vijay
B. Samant, Vical's President and CEO. "[We're] pleased that Vical
has joined the top tier of the NASDAQ Stock Market. We remain
focused on building long-term value for shareholders through the
development of novel biopharmaceutical products."
Samant was among the three insiders that stocked up on Vical's
shares recently. He bought 84,600 shares, priced at a penny per
share. His holding amounted to almost 646,000 shares after the
Prior to this, Samant rarely exceeded 1,000 shares in purchases,
nor has his trade activity in the company been as lively either.
He only purchased once in 2011 and none in 2012.
As for the other two insiders, this year's buys were both their
first times trading company shares.
Executive Vice President Allain Rolland has been in the company
since 2002, serving four years in his current title and 10 years
as a senior vice president of product development. Rolland
purchased 22,092 shares on Jan. 11.
Joining him was Senior Vice President and CFO Jill Marie
Broadfoot, who has been with Vical since 2004, and purchased
Market capitalized at $300 million, Vical is a company that
researches and develops biopharmaceutical products based on its
patented DNA delivery technologies for the prevention of serious
or life-threatening diseases. Some of its projects include
vaccines and cancer therapeutics.
In its third quarter fiscal results released in November, Vical
mentioned it expected its cash and investments to range between
$18 million and $20 million for the full year of 2012. It also
revealed that it declined in revenue, due to recognizing $25.1
million for a license revenue for one of its therapeutic vaccine
indicate a declining operating margin and its day sales
outstanding are building up. However, GuruFocus notes that the
company has strong financial strength and its price is close to
its one-year low. Vical is ranked 1 in Business Predictability.
Gurus who currently have stake in the company include
and Murray Stahl.
To view the rest of Vical's Insider activity visit VICL: Insider
Become a GuruFocus Premium Member!
GuruFocus' long list of Premium Membership perks provides many
opportunities to follow your favorite Gurus and stocks more
closely. If you are not a Premium Member yet, we invite you for a
7-Day Free Trial.About GuruFocus: GuruFocus.com tracks the stocks
picks and portfolio holdings of the world's best investors. This
value investing site offers stock screeners and valuation tools.
And publishes daily articles tracking the latest moves of the
world's best investors. GuruFocus also provides promising stock
ideas in 3 monthly newsletters sent to