Incorporated in 2006, Ridgeback Capital was founded by Wayne Holman, with a major focus on the healthcare sector. Prior to this, Wayne Holman worked for Sigma Capital, a former subsidiary of Steve Cohen’s SAC Capital Advisors. According to the latest 13F and 13G filings, Ridgeback Capital holds equity positions in Cara Therapeutics Inc (NASDAQ:CARA), Trillium Therapeutics Inc. (NASDAQ:TRIL), and Applied Genetic Technologies Corp (NASDAQ:AGTC)
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Let’s take a closer look at Cara Therapeutics Inc (NASDAQ:CARA), a clinical-stage biopharmaceutical company, in which Ridgeback Capital has started a new position with over 1.795 million shares, and holds 7.9% of the company’s outstanding stock. While the stock gained over 1.1% in the first quarter of 2015, it delivered solid returns of 22.3% in the last four weeks, amid better than expected results and analyst upgrades. For the fourth quarter of 2014, Cara’s total revenues declined to $914,000, as compared to $973,000 a year earlier. Cara Therapeutics Inc (NASDAQ:CARA) posted a net loss of $0.18 per share for the same period, while the analysts expected a net loss of $0.3. Management intends to start pivotal Phase 3 clinical trials for a drug used to treat acute pain later this year. Moreover, the company is starting a Phase 2 clinical trial for its tablet formulation of Oral CR845, used for treating severe and chronic pains, by the end of the year. By the second quarter of 2015, Cara Therapeutics Inc (NASDAQ:CARA) expects a positive top-line data, for its enduring Phase 2 trial with I.V. CR845 in uremic pruritus. James E. Flynn’s Deerfield Management is among the major shareholders in Cara Therapeutics, and increased the fund’s exposure to the stock by 24% during the fourth quarter of 2014, to 473,588 shares, valued at $4.7 million.
Based on the latest 13G filing, Ridgeback Capital took a new position of 451,900 shares in Trillium Therapeutics Inc. (NASDAQ:TRIL), an immuno-oncology firm, engaged in developing therapies for the treatment of cancer. The firm was earlier known as Stem Cell Therapeutics Corp, and changed its name to Trillium Therapeutics Inc. (NASDAQ:TRIL) last year. Ridgeback Capital holds 6.9% of the company’s outstanding stock. Trillium’s stock prices has posted solid year to date returns of 146%. On March 30, 2015, the company proposed an underwritten public offering of approximately $50.7 million worth of common and preferred shares. The firm’s lead program, SIRPαFc, is initially being developed for the treatment of acute myeloid leukemia, while the management believes that its leading program has future potential for treating other hematological and solid tumors. Another major shareholder in Trillium Therapeutics Inc. (NASDAQ:TRIL) is Opaleye Management, which holds 333,333 shares worth $3.0 million. Based on a recent 13G filing, Steve Cohen’s Point72 Asset Management purchased 378,050 shares of Trillium Therapeutics, representing 5.6% of company’s outstanding shares.
Applied Genetic Technologies Corp (NASDAQ:AGTC) is engaged in developing gene therapy products for the treatment of inherited and acquired diseases. Wayne Holman’s fund holds nearly 1.36 million shares, equal to 8.3% of the company’s outstanding stock, according to the latest 13F filing. Applied Genetic Technologies Corp (NASDAQ:AGTC)’s stock delivered a year to date return of 1.6%. Applied Genetic Technologies Corp’s revenue for the second quarter of fiscal 2015 (ended on December 31, 2014), increased to $652,000 versus $515,000 a year earlier and net loss rose to $4.65 million from $735,000. The Phase I/II clinical trials in Applied Genetic Technologies Corp (NASDAQ:AGTC)’s X-linked retinoschisis (XLRS) and achromatopsia (ACHM) programs, are expected to show clinical results during the second half of this year. The firm continues to focus on new treatments for age-related macular degeneration (AMD), in the long term. Among other investors, Visium Asset Management has increased its stake to 1.0 million shares from 692,600 shares held at the end of 2014 and Point72 Asset Management also raised its stake in Applied Genetic Technologies Corp (NASDAQ:AGTC) to 1.4 million shares from 978,500 shares.
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