Broadfin Capital Initiates a Stake in Retrophin Inc (RTRX) Following Its Listing on NASDAQ

Kevin Kotler’s Broadfin Capital has revealed a new stake in Retrophin Inc (NASDAQ:RTRX), which amasses 6.93% of the company’s common stock, it contains 1.61 million shares.

Kevin Kotler

Retrophin Inc (NASDAQ:RTRX) is a pharmaceutical company that develops, acquires and commercializes drugs for the treatment of serious, catastrophic or rare diseases.

A week back, Retrophin conducted an underwritten public offering of 4.71 million shares at a price of $8.50 per share. Following the offering, the company got approved to list its common stock on the NASDAQ market, moving it from the previous OTCQB.

The gross proceeds from the offering, which amount to around $40 million, will be used to obtain regulatory approval for the reintroduction of Syntocinon into the U.S. market, the company said in a statement. Retrophin also holds several other drug candidates on different development stages, so the rest of the proceeds are planned to be used to support its research programms.

Also, recently Retrophin Inc (NASDAQ:RTRX) acquired privately-held Kyalin Biosciences, Inc., a company that develops therapies which targets the core symptoms of autism.

In this way, since the stock has been transferred on to the NASDAQ market, we can expect that investors will become more interested in the company. The stock already gained over 80% since January 2.

Martin Shkreli, the Chief Executive Officer and founder of Retrophin Inc (NASDAQ:RTRX), purchased 8,000 shares of the company earlier this week, raising his stake to 2.83 million shares.

The latest moves made by Broadfin Capital, is Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), where the fund boosted its stake to 4.5 million shares, from some 3.6 million. The fund also upped its stake in Derma Sciences Inc (NASDAQ:DSCI) to 871,600 shares, up from 771,600 shares. The fund also added Biodel Inc (NASDAQ:BIOD) to its equity portfolio, and currently holds a stake of 5.2% in the company.

Disclosure: none

Recommended Reading:

Millenium Management Continues Selling Liberator Medical Holdings Inc (LBMH) Stock

Ken Griffin Boosts Stake in Affymetrix, Inc. (AFFX); Cuts Penn Virginia Corporation (PVA)

Mason Capital Management Boosts Stake in Hubbell Incorporated (HUB.A)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!