Profound Medical CEO adds to holdings, again

Profound Medical

According to a filing with SEDI, Profound Medical (NASDAQ:PROF; TSX:PRN) chairman and CEO, Arun Menawat, acquired 13,000 shares of the company at a price of $7.81 (U.S.) each on the open market to hold 425,296 shares.

Dr. Menawat made the purchase on Dec. 20 after the shares of Profound had risen some 64% from their November close of $4.76.

In the company’s quarterly report for the third quarter of 2022, Dr. Menawat said that as “clinical data continue to demonstrate that [Profound’s] TULSA-PRO is the best modality when it comes to prostate cancer treatment outcomes and side effects, and more physicians learn of our technology’s flexibility to treat an unrivaled variety of prostate disease patients, our confidence is growing in its potential to change the current standard of care.”