Third Point Adds To Kadmon Holdings ~ market folly

Thursday, March 16, 2017

Third Point Adds To Kadmon Holdings

Dan Loeb's hedge fund firm Third Point has filed a Form 4 with the SEC regarding its position in Kadmon Holdings (KDMN).  Per the filing, Third Point bought 1.48 million shares of KDMN on March 13th at $3.36 per share.  After this transaction, they now own over 9.4 million shares.  Included in the transaction were 595,238 warrants to purchase 0.40 shares of common stock each.  These have an expiration date of April 13, 2018 and an exercise price of $4.5.  We've posted other recent portfolio activity from Third Point here.

Per Google Finance, Kadmon Holdings is "an integrated biopharmaceutical company engaged in the discovery, development and commercialization of small molecules and biologics to address disease areas of various unmet medical needs. The Company is developing product candidates in a number of indications within autoimmune and fibrotic disease, oncology and genetic diseases. Its product pipeline consists of KD025, Tesevatinib and KD034. The Company's other products include Ribasphere RibaPak, Ribasphere, Qsymia, Tetrabenazine and Valganciclovir. KD025 is an orally available, selective small molecule inhibitor of Rho-associated coiled-coil kinase 2 (ROCK2), a molecular target in multiple autoimmune, fibrotic and neurodegenerative diseases. Tesevatinib is an oral tyrosine kinase inhibitor (TKI) designed to block key molecular drivers of tumor growth, metastases and drug resistance. KD034 is the Company's portfolio of enhanced formulations of trientine hydrochloride for the treatment of Wilson's disease."

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