In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ignyta Inc. (NASDAQ:RXDX) reported that Lilly Eli & Co. has picked up 1,886,777 of common stock as of 2017-06-07.
The acquisition brings the aggregate amount owned by Lilly Eli & Co. to a total of 1,886,777 representing less than 3.36% stake in the company.
For those not familiar with the company, Ignyta, Inc. is a biotechnology company. The Company is focused on precision medicine in oncology. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106. Entrectinib is an orally bioavailable, central nervous system (CNS)-active, small molecule tyrosine kinase inhibitor directed to the tropomyosin receptor kinase (TRK) family of tyrosine kinase receptors (TRKA, TRKB and TRKC), ROS1 and anaplastic lymphoma kinase (ALK) proteins. RXDX-105 is an orally bioavailable, vascular endothelial growth factor receptor (VEGFR)-sparing, small molecule tyrosine kinase inhibitor of rearranged during transfection (RET). Taladegib is an orally bioavailable, small molecule hedgehog/smoothened antagonist. RXDX-106 is a pseudo-irreversible, small molecule inhibitor of TYRO3, AXL and MER (collectively TAM), and c-MET.
A glance at Ignyta Inc. (NASDAQ:RXDX)’s key stats reveals a current market capitalization of 443.74 Million based on 54.34 Million shares outstanding and a price at last close of $7.80 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-08-15, Bristol picked up 5,000 at a purchase price of $5.65. This brings their total holding to 21,667 as of the date of the filing.
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 Ignyta Inc. (NASDAQ:RXDX) as things move forward to see if its progress aligns with these transactions.
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