Mark Lampert‘s Biotechnology Value Fund reported raising its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) to 3.11 million shares, which account for 17.9% of the company’s outstanding stock, via a newly-amended 13G filing released by the Securities and Exchange Commission. Previously, the fund held 1.78 million shares or 12.3% of Xenon’s outstanding stock, according to its 13F filing for the June 30 reporting period.
As the name denotes it, Xenon Pharmaceuticals is a clinical stage biopharmaceutical company that develops various therapeutics for orphan indications. Recently, the company made a $30 million public offering of common shares, priced at $7.50 per share. Year-to-date, Xenon Pharmaceuticals’ stock is down by 4.48%. In its latest financial report, for the second quarter of 2016, the company disclosed revenue of $0.4 million and a basic loss per share of $0.42, compared to a revenue of $4.04 million and earnings per share of $0.08, for the corresponding period of the prior year.
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Among the hedge funds from Insider Monkey’s database, seven were long Xenon Pharmaceuticals (NASDAQ:XENE) at the end of June, down from eight a quarter earlier. Some of the bullish investors contained Steve Cohen’s Point72 Asset Management, with a position valued at $2.12 million, and Jim Simons’ Renaissance Technologies, which held a position worth around $286,000.
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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 |
|---|---|---|---|---|---|---|
| Biotechnology Value Trading Fund OS | 0 | 262,664 | 0 | 262,664 | 262,664 | 1.5% |
| BVF Partners OS Ltd | 0 | 262,664 | 0 | 262,664 | 262,664 | 1.5% |
| BVF Partners | 0 | 3,108,905 | 0 | 3,108,905 | 3,108,905 | 17.9% |
| BVF Inc | 0 | 3,108,905 | 0 | 3,108,905 | 3,108,905 | 17.9% |
| Mark N. Lampert | 0 | 3,108,905 | 0 | 3,108,905 | 3,108,905 | 17.9% |
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Page 1 of 10 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 3)1
| Xenon Pharmaceuticals Inc. |
| (Name of Issuer) |
| Common Shares, no par value per share |
| (Title of Class of Securities) |
| 98420N 10 5 |
| (CUSIP Number) |
| September 8, 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) |
_______________
1 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).
Page 2 of 10 – SEC Filing
| 1 | NAME OF REPORTING PERSON Biotechnology Value Trading Fund OS LP | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 shares | |
| 6 | SHARED VOTING POWER 262,664 | ||
| 7 | SOLE DISPOSITIVE POWER 0 shares | ||
| 8 | SHARED DISPOSITIVE POWER 262,664 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 262,664 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.5% | ||
| 12 | TYPE OF REPORTING PERSON PN | ||
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Page 3 of 10 – SEC Filing
| 1 | NAME OF REPORTING PERSON BVF Partners L.P. | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 shares | |
| 6 | SHARED VOTING POWER 3,108,905 | ||
| 7 | SOLE DISPOSITIVE POWER 0 shares | ||
| 8 | SHARED DISPOSITIVE POWER 3,108,905 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,108,905 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 17.9% | ||
| 12 | TYPE OF REPORTING PERSON PN, IA | ||
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Page 4 of 10 – SEC Filing
| 1 | NAME OF REPORTING PERSON BVF Inc. | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 shares | |
| 6 | SHARED VOTING POWER 3,108,905 | ||
| 7 | SOLE DISPOSITIVE POWER 0 shares | ||
| 8 | SHARED DISPOSITIVE POWER 3,108,905 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,108,905 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 17.9% | ||
| 12 | TYPE OF REPORTING PERSON CO | ||
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Page 5 of 10 – SEC Filing
| 1 | NAME OF REPORTING PERSON Mark N. Lampert | ||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) o | |
| 3 | SEC USE ONLY | ||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 shares | |
| 6 | SHARED VOTING POWER 3,108,905 | ||
| 7 | SOLE DISPOSITIVE POWER 0 shares | ||
| 8 | SHARED DISPOSITIVE POWER 3,108,905 | ||
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,108,905 | ||
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ¨ | |
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 17.9% | ||
| 12 | TYPE OF REPORTING PERSON IN | ||
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Page 6 of 10 – SEC Filing
| Item 1(a). | Name of Issuer: |
Xenon Pharmaceuticals Inc., incorporated in 1996 under the British Columbia Business Corporations Act and continued federally in 2000 under the Canada Business Corporation Act (the “Issuer”).
| Item 1(b). | Address of Issuer’s Principal Executive Offices: |
200-3650 Gilmore Way
Burnaby, British Columbia
Canada V5G 4W8
| Item 2(a). | Name of Person Filing |
| Item 2(b). | Address of Principal Business Office or, if None, Residence |
| Item 2(c). | Citizenship |
Biotechnology Value Fund, L.P. (“BVF”)
1 Sansome Street, 30th Floor
San Francisco, California 94104
Citizenship: Delaware
Biotechnology Value Fund II, L.P. (“BVF2”)
1 Sansome Street, 30th Floor
San Francisco, California 94104
Citizenship: Delaware
Biotechnology Value Trading Fund OS LP (“Trading Fund OS”)
PO Box 309 Ugland House
Grand Cayman, KY1-1104
Cayman Islands
Citizenship: Cayman Islands
BVF Partners OS Ltd. (“Partners OS”)
PO Box 309 Ugland House
Grand Cayman, KY1-1104
Cayman Islands
Citizenship: Cayman Islands
BVF Partners L.P. (“Partners”)
1 Sansome Street, 30th Floor
San Francisco, California 94104
Citizenship: Delaware
BVF Inc.
1 Sansome Street, 30th Floor
San Francisco, California 94104
Citizenship: Delaware
Mark N. Lampert (“Mr. Lampert”)
1 Sansome Street, 30th Floor
San Francisco, California 94104
Citizenship: United States
Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”
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Page 7 of 10 – SEC Filing
| Item 2(d). | Title of Class of Securities: |
Common Shares, no par value per share (the “Common Stock”)
| Item 2(e). | CUSIP Number: |
98420N 10 5
| Item 3. | If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: |
| | /x/ | Not applicable. |
| | (a) | / / | Broker or dealer registered under Section 15 of the Exchange Act. |
| | (b) | / / | Bank as defined in Section 3(a)(6) of the Exchange Act. |
| | (c) | / / | Insurance company as defined in Section 3(a)(19) of the Exchange Act. |
| | (d) | / / | Investment company registered under Section 8 of the Investment Company Act. |
| | (e) | / / | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E). |
| | (f) | / / | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). |
| | (g) | / / | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G). |
| | (h) | / / | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. |
| | (i) | / / | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act. |
| | (j) | / / | Group, in accordance with Rule 13d-1(b)(1)(ii)(J). |
| | (k) | / / | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ |
| Item 4. | Ownership |
| | (a) | Amount beneficially owned: |
| | As of the close of business on September 9, 2016 (i) BVF beneficially owned 1,352,312 shares of Common Stock, (ii) BVF2 beneficially owned 883,470 shares of Common Stock, and (iii) Trading Fund OS beneficially owned 262,664 shares of Common Stock. |
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Page 8 of 10 – SEC Filing
| | Partners OS as the general partner of Trading Fund OS may be deemed to beneficially own the 262,664 shares of Common Stock beneficially owned by Trading Fund OS. |
| | Partners, as the general partner of BVF, BVF2, the investment manager of Trading Fund OS, and the sole member of Partners OS, may be deemed to beneficially own the 3,108,905 shares of Common Stock beneficially owned in the aggregate by BVF, BVF2, Trading Fund OS, and certain Partners managed accounts (the “Partners Managed Accounts”), including 610,459 shares of Common Stock held in the Partners Managed Accounts. |
| | BVF Inc., as the general partner of Partners, may be deemed to beneficially own the 3,108,905 shares of Common Stock beneficially owned by Partners. |
| | Mr. Lampert, as a director and officer of BVF Inc., may be deemed to beneficially own the 3,108,905 shares of Common Stock beneficially owned by BVF Inc. |
| | The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of any shares of Common Stock owned by another Reporting Person. Partners OS disclaims beneficial ownership of the shares of Common Stock beneficially owned by Trading Fund OS. Each of Partners, BVF Inc. and Mr. Lampert disclaims beneficial ownership of the shares of Common Stock beneficially owned by BVF, BVF2, Trading Fund OS, and the Partners Managed Accounts, and the filing of this statement shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities. |
| | (b) | Percent of class: |
| | The following percentages are based on 17,415,347 shares of Common Stock outstanding, as disclosed in the Issuer’s Prospectus Supplement filed on Form 424B5 with the Securities and Exchange Commission on September 9, 2016. |
| | As of the close of business on September 9, 2016 (i) BVF beneficially owned approximately 7.8% of the outstanding shares of Common Stock, (ii) BVF2 beneficially owned approximately 5.1% of the outstanding shares of Common Stock, (iii) Trading Fund OS beneficially owned approximately 1.5% of the outstanding shares of Common Stock (iv) Partners OS may be deemed to beneficially own approximately 1.5% of the outstanding shares of Common Stock, and (v) each of Partners, BVF Inc. and Mr. Lampert may be deemed to beneficially own approximately 17.9% of the outstanding shares of Common Stock (approximately 3.5% of which is held in the Partners Managed Accounts). |
| | (c) | Number of shares as to which such person has: |
| | (i) | Sole power to vote or to direct the vote |
| | See Cover Pages Items 5-9. |
| | (ii) | Shared power to vote or to direct the vote |
| | See Cover Pages Items 5-9. |
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Page 9 of 10 – SEC Filing
| | (iii) | Sole power to dispose or to direct the disposition of |
| | See Cover Pages Items 5-9. |
| | (iv) | Shared power to dispose or to direct the disposition of |
| | See Cover Pages Items 5-9. |
| Item 5. | Ownership of Five Percent or Less of a Class. |
Not Applicable.
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person. |
Partners, BVF Inc. and Mr. Lampert share voting and dispositive power over the shares of Common Stock beneficially owned by BVF, BVF2, Trading Fund OS, and the Partners Managed Accounts.
| Item 7. | Identification and Classification of the Subsidiary That Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
Not Applicable.
| Item 8. | Identification and Classification of Members of the Group. |
See Exhibit 99.1 to Amendment No. 1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on February 16, 2016.
| Item 9. | Notice of Dissolution of Group. |
Not Applicable.
| Item 10. | Certifications. |
By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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Page 10 of 10 – SEC Filing
SIGNATURE
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: September 12, 2016
| BIOTECHNOLOGY VALUE FUND, L.P. | ||||
| | BVF INC. | |||
| By: | BVF Partners L.P., its general partner | | ||
| By: | BVF Inc., its general partner | | By: | /s/ Mark N. Lampert |
| | Mark N. Lampert | |||
| By: | /s/ Mark N. Lampert | President | ||
| Mark N. Lampert | ||||
| President | | |||
| | ||||
| | MARK N. LAMPERT | |||
| BIOTECHNOLOGY VALUE FUND II, L.P. | ||||
| | /s/ Mark N. Lampert | |||
| By: | BVF Partners L.P., its general partner | |||
| By: | BVF Inc., its general partner | |||
| | ||||
| By: | /s/ Mark N. Lampert | |||
| Mark N. Lampert | ||||
| President | ||||
| BVF PARTNERS L.P. | ||||
| By: | BVF Inc., its general partner | |||
| | ||||
| By: | /s/ Mark N. Lampert | |||
| Mark N. Lampert | ||||
| President | ||||
| BVF PARTNERS OS LTD. | ||||
| By: | BVF Partners L.P., its sole member | |||
| By: | BVF Inc., its general partner | |||
| | ||||
| By: | /s/ Mark N. Lampert | |||
| Mark N. Lampert | ||||
| President | ||||
| BIOTECHNOLOGY VALUE TRADING FUND OS LP | ||||
| By: | BVF Partners L.P., its investment manager | |||
| By: | BVF Inc., its general partner | |||
| | ||||
| By: | /s/ Mark N. Lampert | |||
| Mark N. Lampert | ||||
| President | ||||
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