An investor has bought a big chunk of Dova Pharmaceuticals shares, and Asheville-based startup LoLo is raising $500,000, according to SEC filings.
- Investor purchases $576,000 in Dova Pharmaceuticals stock
DURHAM – A board member and the largest investor in Durham-based Dova Pharmaceuticals Inc. has purchased another $576,000 worth of stock in the company, according to a filing with the Securities and Exchange Commission.
Paul B. Manning purchased the shares in transactions on Aug. 15 and Aug. 16 in prices ranging from $21.16 to $26.81 per share.
He now owns 125,870 shares in the drug development company worth nearly $3.4 million.
Manning, who is based in Charlottesville, Virginia, operates PBM Capital Investments, which also owns 12.2 million shares of Dova Pharmaceuticals worth more than $325 million.
Earlier this month, Dova reported a second quarter loss that missed Wall Street expectations in its first quarter as a public company.
Dova went public in late June. The company was formed in March 2016 and has produced no revenue. It posted a loss of $27.2 million in 2016 and a loss of $5.4 million in the first three months of 2017.
Dova is developing treatments for patients suffering from orphan diseases.
The company’s lead investigational drug, avatrombopag, is in the process of completing two Phase 3 clinical trials researching its use as a potential treatment for thrombocytopenia in patients with chronic liver disease.
The company plans to file a new drug application with the U.S. Food and Drug Administration for avatrombopag in the third quarter of 2017.
- Asheville-based LoLo raises $25,000 in debt offering
ASHEVILLE – An Asheville-based company that offers cash rewards on purchases has raised $25,000 in a debt offering, according to a filing Friday with the Securities and Exchange Commission.
Lolo LLC raised the money from one investor and is seeking to raise an additional $475,000, according to the filing.
The company raised $30,000 in October 2016 and $275,000 in April 2016.
LoLo, or “Locals Supporting Locals,” offers consumers the chance to earn rewards through any connected credit or debit card. The Asheville-based startup prides itself on supporting local businesses and being easy to use.
The application allows mobile users to earn 5 percent in rewards on every dollar spent. They can then use their “LoDough” at any participating business.
It operates in markets such as Asheville, Durham, Nashville and Chicago.
The company’s founders are Clark Harris and Matthew Simpson, who started the company in 2013.
Harris also cofounded the real-time promotional platform tool called PromoterBee as well as the websites FindMeSpecials.com and FindMeEvents.com and mobile app PathCrosser.
His roles have included financial, corporate and legal responsibilities as well as social media marketing and networking.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism