Tiziana Life Sciences Ltd (NASDAQ:TLSA) announced that its executive chairman and founder Gabriele Cerrone, through Panetta Partners, purchased 42,357 common shares at $0.99 each.
The acquisition increased his holdings to 44.8 million common shares, representing 34.93% of the company's issued share capital.
Tiziana is developing immunomodulation therapies, with lead candidate intranasal foralumab currently being studied for non-active secondary progressive multiple sclerosis.