Sam Isaly’s OrbiMed Advisors recently filed a Form 13D with the Securities and Exchange Commission in which reported the acquisition of 3.07 million shares of Steadymed Ltd. (NASDAQ:STDY), which account for 14.2% of the company’s outstanding stock. The acquisition, which was made solely for investment purposes, as reported in the filing, represents a new addition to OrbiMed Advisors’ portfolio.
Steadymed Ltd. (NASDAQ:STDY) is a pharmaceutical company engaged in the development of a plethora of therapeutic product candidates. Recently, the company signed an agreement upon which it will sell its common shares and warrants for purchasing shares for aggregate gross proceeds of up to $32 million in a two-tranche private placement. OrbiMed Advisors led the financing with the support of other investors. Over the past 12 months, Steadymed’s stock has lost 40.04%. For the first quarter of 2016, the company reported a loss per share of $0.46 and a net loss of $6.28 million, which compares to a loss per share of $4.35 and a net loss of $5.56 million for the same quarter of the previous year.
Two funds in our database held positions in Steadymed Ltd. (NASDAQ:STDY) on March 31, those being James Flynn‘s Deerfield Management with a large 1.35 million-share position, and Adam Wright and Gary Kohler’s Blue Clay Capital, with a position of 99,810 shares. Furthermore, Jim Simons’ Renaissance Technologies just reported opening a small position in Steadymed during the second quarter through its 13F filing for the period, which released on Friday. The quant fund owns 10,800 shares of the company as of June 30.
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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 | 3,072,196 | 0 | 3,072,196 | 3,072,196 | 14.2% |
| OrbiMed Advisors Israel II Limited | 0 | 3,072,196 | 0 | 3,072,196 | 3,072,196 | 14.2% |
| OrbiMed Israel GP II | 0 | 3,072,196 | 0 | 3,072,196 | 3,072,196 | 14.2% |
| OrbiMed Capital GP VI | 0 | 3,072,196 | 0 | 3,072,196 | 3,072,196 | 14.2% |
| Samuel D. Isaly | 0 | 3,072,196 | 0 | 3,072,196 | 3,072,196 | 14.2% |
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Page 1 of 15 – SEC Filing
| SteadyMed Ltd. |
| (Name of Issuer) |
| Ordinary Shares, nominal value NIS $0.01 per share |
| (Title of Class of Securities) |
| M84920103 |
| (CUSIP Number) |
| OrbiMed Advisors LLC OrbiMed Advisors Israel II Limited OrbiMed Israel II GP, L.P. OrbiMed Capital GP VI LLC Samuel D. Isaly 601 Lexington Avenue, 54th Floor New York, NY 10022 Telephone: (212) 739-6400 |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| August 4, 2016 |
| (Date of Event which Requires Filing of this Statement) |
| * | 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 disclosures provided in a prior cover page. |
