Tiziana Life Sciences rises premarket after Chairman boosts stake

Tiziana Life Sciences (NASDAQ:TLSA) rose in premarket trading after the company said Executive Chairman and Founder Gabriele Cerrone purchased 25,000 common shares at $1.60 each.

The purchase brings Cerrone’s total holding to 43,277,143 shares, representing 36.28% of the company’s issued share capital, according to the statement.

The biotech firm is developing intranasal foralumab, an anti-CD3 monoclonal antibody targeting autoimmune and inflammatory diseases.