In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC) reported that Tang Capital Partners Lp. has picked up 559,900 of common stock as of 2017-02-27.
The acquisition brings the aggregate amount owned by Tang Capital Partners Lp. to a total of 559,900 representing a 13.2% stake in the company.
For those not familiar with the company, Cyclacel Pharmaceuticals, Inc. operates in the field of cell cycle biology. The Company has generated various families of anticancer drugs that act on the cell cycle, including nucleoside analogs, cyclin dependent kinase (CDK) inhibitors, polo-like kinase (PLK) inhibitors and Aurora Kinase/vascular endothelial growth factor receptor (AK/VEGFR) inhibitors. Its family of anticancer drugs that act on the cell cycle include sapacitabine, seliciclib and CYC065. Its lead candidate, sapacitabine, is an orally available nucleoside analog. A number of nucleoside drugs, such as gemcitabine and cytarabine, also known as Ara-C, both generic drugs, are in use as conventional chemotherapies. Seliciclib, its lead CDK inhibitor, is an oral inhibitor of CDK2/9 enzymes that are central to the process of cell division and cell cycle control. Its second-generation CDK inhibitor, CYC065, is an inhibitor of CDKs targeting CDK2/9 enzymes with utility in both hematological malignancies and solid tumors.
A glance at Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC)’s key stats reveals a current market capitalization of 14.07 million based on 4.25 million shares outstanding and a price at last close of $3.42 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-23, Tang picked up 134,200 at a purchase price of $4.34. This brings their total holding to 559,900 as of the date of the filing.
On the sell side, the most recent transaction saw Marxe unload 650,000 shares at a sale price of $0.51. This brings their total holding to 2,806,900.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC) as things move forward to see if its progress aligns with these transactions.
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