Trying to boost confidence in the fledgling company, directors and officers of Guilford Pharmaceuticals Inc. have bought in the open market 102,100 shares of common stock, or about 3 percent of the outstanding shares.
The purchases were made between Oct. 19 and Oct. 27, when the stock was selling for between $2.625 and $3.50 a share.
Guilford shares closed yesterday at $3.125, up 37.5 cents.
The Baltimore-based company, which is working on drugs for diseases of the brain, also announced yesterday that two new investment firms are making markets in its stock -- Hambrecht & Quist of New York and Josephthal, Lyon & Ross, also based in New York.