CHIASMA, INC: management transactions · United States · SEC (Form 4)

About CHIASMA, INC

Chiasma, Inc. (ticker CHMA) was a U.S.-listed biopharmaceutical company quoted on NASDAQ in the United States, focused on developing and commercializing oral therapies for rare and chronic diseases that had traditionally been treated with injectable drugs. Founded in 2001 and historically headquartered in Massachusetts, the company built its strategy around a proprietary oral delivery platform known as Transient Permeability Enhancer (TPE), designed to improve the gastrointestinal absorption of molecules that are difficult to administer orally. Its lead asset was MYCAPSSA® (octreotide) capsules, which received U.S. FDA approval on June 26, 2020 for long-term maintenance treatment in adult acromegaly patients who had responded to and tolerated octreotide or lanreotide. Commercial launch in the United States followed in 2020, and MYCAPSSA was positioned as the first and only FDA-approved oral somatostatin analog at that time. From an industry perspective, Chiasma operated in a highly specialized therapeutic niche. Its competitive proposition was not broad scale but focused differentiation: improved patient convenience, better adherence potential, and a clearer value proposition versus established injectable standards of care. That made the company a classic specialty biotech rather than a diversified pharmaceutical group. Its market position depended on a medically recognized unmet need, a validated regulatory path, and a U.S.-centric specialty commercialization model, with the United States as the core commercial geography. For investors, an essential point is that Chiasma no longer operates as an independent public company. In May 2021, Amryt Pharma announced the acquisition of Chiasma, and the transaction was completed on August 5, 2021. As a result, CHMA today should be viewed as a historical issuer rather than an active standalone NASDAQ company. Any SEC Form 4 insider transaction references associated with CHMA need to be interpreted in that historical context, because the relevant equity narrative changed materially after the merger. The most notable recent milestones are therefore retrospective: FDA approval of MYCAPSSA in 2020, U.S. commercial launch in the same year, and the 2021 acquisition by Amryt. Operationally, Chiasma was anchored in the United States, with corporate and commercial activity centered there before being folded into Amryt’s rare-disease platform. For international investors, CHMA is best understood as a specialty biotech story built around one key product, one core therapeutic indication, and a subsequent exit through M&A rather than a continuing independent listed franchise.