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Cynapsus Therapeutics Inc. (CYNA): OrbiMed Advisors Adds To Its Stake

Published on July 12, 2016 at 1:24 pm by Insider Monkey Staff in Hedge Funds, News
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According to a recent 13G filing with the US Securities and Exchange Commission Sam Isaly’s Orbimed Advisors has increased its stake in Cynapsus Therapeutics Inc. (NASDAQ:CYNA), to 1.62 million shares, which amass 13.2% of the company’s total outstanding stock. The stake compares to 1.14 million shares Orbimed Advisors disclosed in its last 13F filing for the reporting period of March 31.

Samuel Isaly Orbimed Advisors

Cynapsus Therapeutics is a specialty pharmaceutical company that works on developing a sublingual thin film to help the patients who suffer from Parkinson’s disease, and recently it was announced that the company has registered the last patient in its pivotal Phase 3 clinical study, which examines the effects of its sublingual thin film for the treatment of debilitating OFF states in Parkinson’s disease. Since the beginning of the year, the company’s stock is up by 6.87%. In its last quarterly financial report for the three months ended March 31, Cynapsus Therapeutics disclosed a net loss of $8.4 million and a loss per share of $0.68, which compares to a net loss of $4.1 million and a loss per share of $0.78 for the same quarter a year earlier. Recently, Janney Montgomery Scott has initiated coverage on the stock with a ‘Buy’ rating on the stock, at a price target of $24.00.

At the end of March, there were 13 investors long Cynapsus Therapeutics (NASDAQ:CYNA) from Insider Monkey’s database. Among them, the largest stake held Orbimed Advisors, and the second most valuable position was owned by Dennis Purcell’s Aisling Capital, worth around $12.2 million. Some other hedge funds with similar optimism encompass Jacob Gottlieb’s Visium Asset Management, Phill Gross and Robert Atchinson’s Adage Capital Management and Israel Englander’s Millennium Management.

On the other hand, investors who lost interest in Cynapsus Therapeutics (NASDAQ:CYNA) and sold off their positions include Kevin Kotler’s Broadfin Capital, which dumped the biggest stake valued at close to $8.9 million in stock, and D. E. Shaw’s D. E. Shaw, which dumped its stock, about $0.2 million worth.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
OrbiMed Capital GP V 0 1,620,325 0 1,620,325 1,620,325 13.2%
OrbiMed Advisors 0 1,620,325 0 1,620,325 1,620,325 13.2%
Samuel D. Isaly 0 1,620,325 0 1,620,325 1,620,325 13.2%

Follow Sam Isaly's OrbiMed Advisors

Page 1 of 7 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
SCHEDULE 13G
 
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
  
Cynapsus Therapeutics Inc.
(Name of Issuer)
 
 
Common Stock
(Title of Class of Securities)
 
 
23257Y859
(CUSIP Number)
 
 
July 6, 2016
(Date of Event Which Requires Filing of this Statement)
  
  
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
  
o Rule 13d-1(b)
x Rule 13d-1(c)
o Rule 13d-1(d)
  
   
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
    
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 

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