In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Lion Biotechnologies Inc. (NASDAQ:LBIO) reported that Acuta Capital Partners, Llc has picked up 3,959,944 of common stock as of 2017-08-03.
The acquisition brings the aggregate amount owned by Acuta Capital Partners, Llc to a total of 3,959,944 representing a 6.4% in the company.
For those not familiar with the company, Iovance Biotherapeutics, Inc., formerly Lion Biotechnologies, Inc., is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead program is an adoptive cell therapy utilizing tumor-infiltrating lymphocytes, which are T cells derived from patients’ tumors, for the treatment of metastatic melanoma. As of December 31, 2016, it had an on-going Phase II clinical trial of its lead product candidate, LN-144, TIL for the treatment of metastatic melanoma. The Company is developing LN-145 to treat cervical and head and neck cancers. It is collaborating with the National Cancer Institute to evaluate unmodified TIL in other solid tumor indications, such as ocular melanoma, bladder, breast and lung cancer. It is collaborating with the NCI to evaluate TIL in combination with the checkpoint inhibitor, Keytruda.
A glance at Lion Biotechnologies Inc. (NASDAQ:LBIO)’s key stats reveals a current market capitalization of 346.05M based on 62.35M shares outstanding and a price at last close of $5.55 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2013-11-05, Mcpeak picked up 50,000 at a purchase price of $2.00 per share.This brings their total holding to 396,432 as of the date of the filing.
On the sell side, the most recent transaction saw Hillsberg unload 20,500 shares at a sale price of $8.71. This brings their total holding to 100,000.
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 Lion Biotechnologies Inc. (NASDAQ:LBIO) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.