NEXGEL, INC. (NASDAQ: NXGL) Chief Executive Officer and director Adam R. Levy has completed the sale of 6,000 shares of the company's common stock through open market transactions. The divestment, executed across two separate dates in early June 2026, resulted in proceeds of approximately $3,421. Following these sales, Levy's direct ownership stake in the company stands at 336,692 shares.
The transaction timeline indicates that on June 4, 2026, Mr. Levy disposed of 3,000 shares at a price of $0.5936 per share. Four days later, on June 8, 2026, he sold an additional 3,000 shares at $0.5470 per share. These sales take place while the company's stock is trading at $0.58, a figure that reflects a 75% decline over the past year. According to InvestingPro analysis, the stock may currently be undervalued, with a Fair Value estimate of $0.86. The company carries a market capitalization of $4.67 million and contends with notable financial headwinds, specifically debt concerns and cash burn challenges.
In recent corporate developments, Nexgel reported financial results for the first quarter of 2026. The report revealed a net loss per share of -0.11 USD and revenue of 2.65 million USD. This revenue figure represents a 5.7% decline compared to the previous year. Despite this contraction, the company has expressed optimism regarding future growth prospects, particularly in the context of its recent acquisition of BioNX.
Furthermore, Nexgel announced findings from a clinical study involving its hydrogel patch technology. The study demonstrated a 95.6% reduction in plume concentration during laser hair removal procedures. Funded by Innovative Optics, the research was published in the journal Lasers in Surgery and Medicine. Conducted at the Florida Clinical Research Center, the study involved 30 patients and was led by plastic surgeons Dr. Barry DiBernardo and Dr. Jason Pozner. These clinical results underscore the company's ongoing efforts to advance both its product portfolio and financial positioning.