Viking Global Discloses Myovant Sciences Position ~ market folly

Monday, February 13, 2017

Viking Global Discloses Myovant Sciences Position

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC regarding shares of Myovant Sciences (MYOV).  Per the filing, Viking now owns 61.8% of the company with over 37.23 million shares.

This is a newly disclosed public equity position for the firm and the filing was made due to activity on December 31st.  However, Viking previously invested in private company Roivant Sciences.  Roivant has stakes in numerous other biopharma companies that have been spun-out, including Myovant.

Myovant completed its initial public offering in the latter months of 2016.

Per Google Finance, Myovant Sciences is ".a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for women’s health diseases and other endocrine-related disorders. Its main product candidate is Relugolix. Relugolix is an oral, once-daily, small molecule that acts as a gonadotropin-releasing hormone (GnRH) receptor antagonist that binds to and inhibits receptors in the anterior pituitary gland. Inhibition of GnRH receptors decreases the release of the gonadotropins, luteinizing hormone, or LH, and follicle-stimulating hormone, or FSH, thereby decreasing the down-stream production of estrogen and progesterone by the ovaries in women and testosterone by the testes in men. It is advancing relugolix for the treatment of heavy menstrual bleeding associated with uterine fibroids, endometriosis-associated pain and prostate cancer. It intends to develop its second product candidate, RVT-602, for the treatment of female infertility as part of assisted reproduction."

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