Samuel Isaly‘s OrbiMed Advisors has stepped up its interest in Ascendis Pharma A/S (NASDAQ:ASND) as reported in a recently-amended filing with the Securities and Exchange Commission. OrbiMed’s stake in the company has been increased to 3.3 million shares or 13.1% of the common stock, following the acquisition of 300,000 shares on June 17 at an average price of $13.75 apiece. Prior to that, the fund had bought more than 500,000 shares on June 15 and 16.
Ascendis Pharma A/S (NASDAQ:ASND) has a market cap of $345 million and does not pay a dividend. The stock started the year in a down trend, but it quickly recovered and was in green territory at the end of January. The rally did not continue, however, and shares are currently down by 24% for the year, having ended Tuesday’s trading session at $13.74 per unit. Ascendis Pharma swung to a loss for the first quarter of 2016, as revenues tumbled by 40% year-over-year to €1.3 million ($1.46 million). The company posted a net loss of €20.5 million ($23.1 million), or €0.82 ($0.92) per share.
At the end of the first quarter, roughly 27% of Ascendis Pharma A/S (NASDAQ:ASND) common stock was held by 10 of the funds followed by Insider Monkey, down from 11 registered a quarter before. Peter Kolchinsky‘s RA Capital Management is betting big on this stock, having amassed 2.16 million shares worth $40.1 million at the end of March. Baker Bros. Advisors’ manager, Julian Baker and Felix Baker are also keeping an eye on Ascendis Pharma as their fund held 505,521 shares at the end of March, unchanged over the course of the first quarter.
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 Advisors | 0 | 3,300,462 | 0 | 3,300,462 | 3,300,462 | 13.1% |
OrbiMed Capital GP V | 0 | 3,300,462 | 0 | 3,300,462 | 3,300,462 | 13.1% |
Samuel D. Isaly | 0 | 3,300,462 | 0 | 3,300,462 | 3,300,462 | 13.1% |
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Page 1 of 12 – SEC Filing
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Page 2 of 12 – SEC Filing
CUSIP No. 04351P101 | Page 2 of 12 Pages |
1 | NAME OF REPORTING PERSONS OrbiMed Advisors LLC | |||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) o (b) o | | ||
3 | SEC USE ONLY | |||
4 | SOURCE OF FUNDS (See Instructions) AF | |||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | o | ||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | ||
8 | SHARED VOTING POWER 3,300,462 | |||
9 | SOLE DISPOSITIVE POWER 0 | |||
10 | SHARED DISPOSITIVE POWER 3,300,462 | |||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,300,462 | |||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) | o | ||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.1%* | |||
14 | TYPE OF REPORTING PERSON (See Instructions) IA |
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Page 3 of 12 – SEC Filing
CUSIP No. 04351P101 | Page 3 of 12 Pages |
1 | NAME OF REPORTING PERSONS OrbiMed Capital GP V LLC | |||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) o (b) o | | ||
3 | SEC USE ONLY | |||
4 | SOURCE OF FUNDS (See Instructions) AF | |||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | o | ||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | ||
8 | SHARED VOTING POWER 3,300,462 | |||
9 | SOLE DISPOSITIVE POWER 0 | |||
10 | SHARED DISPOSITIVE POWER 3,300,462 | |||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,300,462 | |||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) | o | ||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.1%* | |||
14 | TYPE OF REPORTING PERSON (See Instructions) OO |
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Page 4 of 12 – SEC Filing
CUSIP No. 04351P101 | Page 4 of 12 Pages |
1 | NAME OF REPORTING PERSONS Samuel D. Isaly | |||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) o (b) o | | ||
3 | SEC USE ONLY | |||
4 | SOURCE OF FUNDS (See Instructions) AF | |||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | o | ||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 0 | ||
8 | SHARED VOTING POWER 3,300,462 | |||
9 | SOLE DISPOSITIVE POWER 0 | |||
10 | SHARED DISPOSITIVE POWER 3,300,462 | |||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,300,462 | |||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) | o | ||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.1%* | |||
14 | TYPE OF REPORTING PERSON (See Instructions) IN |
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Page 5 of 12 – SEC Filing
Item 1. | Security and Issuer |
Item 2. | Identity and Background |
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Page 6 of 12 – SEC Filing
Item 3. | Source and Amount of Funds or Other Consideration |
Item 4. | Purpose of Transaction |
Item 5. | Interest in Securities of the Issuer |
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Page 7 of 12 – SEC Filing
Date of Transaction | Transaction | Number of Shares | Price Per Share |
June 17, 2016 | Buy | 300,000 | $13.75 |
Item 6. | Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer |
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Page 8 of 12 – SEC Filing
Item 7. | Materials to Be Filed as Exhibits |
Exhibit | Description |
1. | Joint Filing Agreement among OrbiMed Advisors LLC, OrbiMed Capital GP V LLC and Samuel D. Isaly |
2. | Registration Rights Agreement by and among the Issuer and each of the persons listed on Schedule A thereto, dated as of November 24, 2014 (incorporated by reference to Exhibit 10.6 to the Issuer’s Registration Statement on Form F-1 (SEC File No. 333-201050), filed with the SEC on December 18, 2014). |
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Page 9 of 12 – SEC Filing
OrbiMed Advisors LLC | ||||
By: | /s/ Samuel D. Isaly | |||
Name: | Samuel D. Isaly | |||
Title: | Managing Member | |||
OrbiMed Capital GP V LLC | ||||
By: | OrbiMed Advisors LLC | |||
By: | /s/ Samuel D. Isaly | |||
Name: | Samuel D. Isaly | |||
Title: | Managing Member | |||
Samuel D. Isaly | ||||
By: | /s/ Samuel D. Isaly | |||
Name: | Samuel D. Isaly |
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Page 10 of 12 – SEC Filing
Name | Position with Reporting Person | Principal Occupation |
Samuel D. Isaly | Managing Member | Managing Member OrbiMed Advisors LLC |
Carl L. Gordon | Member | Member OrbiMed Advisors LLC |
Sven H. Borho German and Swedish Citizen | Member | Member OrbiMed Advisors LLC |
Jonathan T. Silverstein | Member | Member OrbiMed Advisors LLC |
W. Carter Neild | Member | Member OrbiMed Advisors LLC |
Geoffrey C. Hsu | Member | Member OrbiMed Advisors LLC |
Evan D. Sotiriou | Chief Financial Officer | Chief Financial Officer OrbiMed Advisors LLC |
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Page 11 of 12 – SEC Filing
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Page 12 of 12 – SEC Filing
Exhibit | Description |
1. | Joint Filing Agreement among OrbiMed Advisors LLC, OrbiMed Capital GP V LLC and Samuel D. Isaly |
2. | Registration Rights Agreement by and among the Issuer and each of the persons listed on Schedule A thereto, dated as of November 24, 2014 (incorporated by reference to Exhibit 10.6 to the Issuer’s Registration Statement on Form F-1 (SEC File No. 333-201050), filed with the SEC on December 18, 2014). |