Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Axovant Sciences Ltd.(AXON): QVT Financial Acquires Dispositive Power Over 75 Million Shares

Page 1 of 9

Daniel Gold‘s QVT Financial recently filed a Form 13D with the Securities and Exchanges in which it reported the appointment of its affiliate, Dr. Andrew Lo, to the Board of Directors of Axovant Sciences Ltd.(NYSE:AXON). The  move means the fund may attain “dispositive power” over 75 million shares that account for 75.6% of the company’s outstanding stock. QVT Financial, which doesn’t beneficially own any common shares or securities of the company, would acquire that “dispositive power” only if the three major shareholders of the company unanimously vote for it.

Axovant Sciences, formerly known as Roivant Neurosciences, is a pharmaceutical company that works on discovering and manufacturing various therapeutics to help treat patients who suffer from dementia and similar disorders. Year-to-date, the company’s stock is down by 32.17%. In its financial results for fiscal year 2016, Axovant Sciences reported a net loss of $133.1 million, which amounted to a loss per share of $1.41. Recently, HC Wainwright and Leering Swann reiterated their ‘Buy’ ratings on Axovant Sciences’ stock.

As of the end of March, 11 hedge funds in our system were shareholders of Axovant Sciences (NYSE:AXON), among which the biggest position was held by Peter Kolchinsky’s RA Capital Management, valued at $57.4 million. The second-largest stake was owned by Jacob Gottlieb’s Visium Asset Management, and was worth approximately $48.1 million. Other investors long the stock included D E Shaw, founded by David E. Shaw, and Joseph Edelman’s Perceptive Advisors.

pharmacist, senior, man, talking, helpful, nhs, helping, counter, medication, older, american, drugs, woman, shelves, male, pack, usa, medical, practice, horizontal, adult,

Monkey Business Images/Shutterstock.com

Among smart money managers that initiated new positions in Axovant Sciences (NYSE:AXON) during the first quarter were Anders Hove and Bong Koh’s VHCP Management, which had a $2.1 million position in the company, Hal Mintz’s Sabby Capital, Mike Vranos’ Ellington, and Jeremy Green’s Redmile Group.

You can access the original SEC filing by clicking here.

Follow Axovant Sciences Ltd.
Trade (AXON) Now!

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
QVT Financial 0 0 0 75,000,000 75,000,000 75.6%
QVT Financial GP 0 0 0 75,000,000 75,000,000 75.6%
QVT Fund V 0 0 0 75,000,000 75,000,000 75.6%
QVT Associates GP 0 0 0 75,000,000 75,000,000 75.6%

Daniel Gold
Daniel Gold
QVT Financial

Page 1 of 9 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

 

 

Axovant
Sciences, Ltd.

(Name of Issuer)

Common Shares, $0.00001 par value

(Title of Class of Securities)

G0750W104

(CUSIP Number)

Eleazer Klein, Esq.

Schulte Roth & Zabel LLP

919 Third Avenue, New York, NY 10022

(212) 756-2000

(Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 8, 2016

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-l(e),
240.13d-l(f) or 240.13d-1(g), check the following box.  ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be
deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

Follow Axovant Sciences Ltd.
Trade (AXON) Now!
Page 1 of 9
Loading Comments...