In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Sevion Therapeutics Inc. (OTCBB:SVON) reported that Opko Health, Inc. has picked up 16,107,097 of common stock as of 2017-08-04.
The acquisition brings the aggregate amount owned by Opko Health, Inc. to a total of 16,107,097 representing a 37.9% in the company.
For those not familiar with the company, Sevion Therapeutics, Inc. is a development-stage biotech company. The Company is engaged in building and developing a portfolio of therapeutics, from both internal discovery and acquisition, for the treatment of cancer and immunological diseases. The Company is engaged in the development and licensing of technology to discover and engineer monoclonal antibodies. The Company’s product candidates are derived from multiple technology platforms, such as cell-based arrayed antibody discovery, ultralong antibody scaffolds and Chimerasome nanocages. The Company has various antibodies in its preclinical pipeline. The Company’s antibody therapeutic candidates target the potassium channel, voltage dependent (Kv1.3) ion channel, which is essential in the pathogenesis of several autoimmune and inflammatory disorders. Other antibodies in its pipeline target cell surface molecules involved in cancer progression.
A glance at Sevion Therapeutics Inc. (OTCBB:SVON)’s key stats reveals a current market capitalization of 7.27M based on 26.92M shares outstanding and a price at last close of $0.270 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2015-09-29, Frost picked up 35,000 at a purchase price of $0.61 per share.This brings their total holding to 1,598,170 as of the date of the filing.
On the sell side, the most recent transaction saw Galton unload 21,200 shares at a sale price of $0.38. This brings their total holding to 98,450.
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 Sevion Therapeutics Inc. (OTCBB:SVON) 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.