In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Vivus Inc. (NASDAQ:VVUS) reported that North Tide Capital Master, Lp has picked up 4,000,000 of common stock as of 2017-06-06.
The acquisition brings the aggregate amount owned by North Tide Capital Master, Lp. to a total of 4,000,000 representing less than 3.78% stake in the company.
For those not familiar with the company, VIVUS, Inc. is a biopharmaceutical company. The Company operates in the development and commercialization of therapeutic products segment. It provides over two therapies approved by the Food and Drug Association (FDA), which include Qsymia (phentermine and topiramate extended-release) for chronic weight management and STENDRA (avanafil) for erectile dysfunction (ED). The Company has completed the Phase II studies of Qsymia for the indication of Obstructive Sleep Apnea (OSA) and diabetes. Its Qsymia is available in over 40,000 certified retail pharmacies across the country. Its STENDRA is also approved by the European Commission (EC), under the name, SPEDRA, for the treatment of ED in the Europe. The United States Food and Drug Association approved a Supplemental New Drug Application (sNDA) for STENDRA. STENDRA is indicated to be taken approximately 15 minutes before sexual activity.
A glance at Vivus Inc. (NASDAQ:VVUS)’s key stats reveals a current market capitalization of 146.52 Million based on 105.68 Million shares outstanding and a price at last close of $1.31 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-09, North picked up 2,160 at a purchase price of $1.40. This brings their total holding to 13,587,460 as of the date of the filing.
On the sell side, the most recent transaction saw Varghese unload 440 shares at a sale price of $1.08. This brings their total holding to 73,597.
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 Vivus Inc. (NASDAQ:VVUS) as things move forward to see if its progress aligns with these transactions.
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