In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Heron Therapeutics Inc. (NASDAQ:HRTX) reported that Broadfin Capital has picked up 3,916,534 of common stock as of 2017-02-10.
The acquisition brings the aggregate amount owned by Broadfin Capital to a total of 3,916,534 representing a 9.99% stake in the company.
For those not familiar with the company, Heron Therapeutics, Inc. is a biotechnology company engaged in developing pharmaceutical products for patients suffering from cancer or pain. The Company’s product candidates include SUSTOL, HTX-019 and HTX-011. All of its product candidates utilize science and technology platforms, including its Biochronomer drug delivery technology. The Company’s SUSTOL (granisetron) injection, extended release is being developed for the prevention of both acute and delayed chemotherapy-induced nausea and vomiting (CINV) associated with moderately emetogenic chemotherapy (MEC) or highly emetogenic chemotherapy (HEC). HTX-019, which is an intravenous formulation of aprepitant, a neurokinin-1 (NK1) receptor antagonist, is being developed for the prevention of CINV. HTX-011, a long-acting formulation of the local anesthetic bupivacaine in a fixed-dose combination with the anti-inflammatory meloxicam, is being developed for the prevention of post-operative pain. HTX-011 is in Phase II clinical trials.
A glance at Heron Therapeutics Inc. (NASDAQ:HRTX)’s key stats reveals a current market capitalization of 718.68 million based on 51.47 million shares outstanding and a price at last close of $13.55 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-19, Poyhonen picked up 10,000 at a purchase price of $12.20. This brings their total holding to 10,000 as of the date of the filing.
On the sell side, the most recent transaction saw Rosen unload 12,400 shares at a sale price of $23.89. This brings their total holding to 2,640.
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 Heron Therapeutics Inc. (NASDAQ:HRTX) as things move forward to see if its progress aligns with these transactions.
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