Vivek Ramaswamy sells $33 million in Roivant stock to boost campaign

• The stock sale comes less than two weeks before the first Republican presidential nominating contest in Iowa.
• The campaign has increased its budget in Iowa and New Hampshire for targeted digital and radio advertising among other investments, although has stopped TV spending.

Details: Ramaswamy sold three million shares in Roivant Sciences at $11.05 per share on Jan. 2, per an SEC filing.

• He founded the biotech company and used to serve as its CEO, but no longer is considered a company insider.
• He previously sold $32 million of stock last February, timed to his presidential bid kickoff. The company's stock price increased by nearly 29% between the two sales.
• A source says Ramaswamy has told associates that he doesn't foresee another major sale of Roivant stock in the near future. He still holds over 50 million shares.

The big picture: Ramaswamy has been heavily self-financing his campaign.

• He currently is polling in fourth place in Iowa, behind former president Trump, Florida Gov. Ron DeSantis, and former UN ambassador Nikki Haley.
• He didn't qualify for the Jan. 10 CNN debate in Des Moines, but has kept up a grueling campaign schedule, and is continuing to receive endorsements.