Lllp Spch, 10% Owner at AP PHARMA INC /DE/ (APPA), bought 38,095,238 shares at $0.53 ($20.2M) on 2012-07-25, disclosed to the SEC on 2012-09-12.
Open-market purchase of $20.2M APPA by 10% Owner. Below the thresholds we flag for high-conviction alerts (no C-suite role, rare reversal, cluster, or A-grade history).
Negative factors outweigh the positive ones.