Ex-Pharmacyclics CEO Robert Duggan and COO Maky Zanganeh have purchased a 17% stake in Pulse Biosciences.
The 2 former execs purchased a total of 819,673 shares of common stock at $6.10 per share from the company and an additional, equal amount from existing shareholders, according to an SEC filing from the company. As part of the placement, Dr. Zanganeh will join the company’s board of directors.
Net proceeds from the placement will support working capital and general corporate purposes. The purchased shares join an additional 771,799 shares previously purchased on the open market, the company said.
