Cerulean Pharma (CERU) shares rose more than 9% on Friday. CERU has seen significant insider buying in recent months. However, the stock is still remains well below its 52-week high of $5.20. CERU is an oncology-focused company applying its Dynamic Tumor Targeting platform to develop differentiated therapies. Its platform utilizes nanoparticle-drug conjugates (NDCs), which consist of polymers that are covalently linked to anti-cancer therapeutics or payloads. The company ended the first quarter with more than $60 million in cash on its balance sheet. The company’s end of first quarter cash position accounts for almost 90% of CERU’s market cap. This highlights the fact that CERU remains undervalued. Not surprising then that insiders have been buying actively.