Deerfield Management Boosts Its Stake in OvaScience Inc (OVAS)

Deerfield Management, led by James E. Flynn, revealed in a filing with the Securities and Exchange Commission that it has upped its stake in OvaScience Inc (NASDAQ:OVAS) to 1.8 million shares from 605,600 shares held at the end of the fourth quarter of 2013. The current passive stake amasses 7.6% of the company’s common stock.

OvaScience Inc (NASDAQ:OVAS)

OvaScience Inc (NASDAQ:OVAS) is a global life sciences company that discovers, develops and commercializes new fertility treatments.

Recently, OvaScience Inc (NASDAQ:OVAS) conducted a public offering of 5.0 million shares of common stock at a price of $10.00 per share. The company will use the net proceed from the offering to fund OvaPrimeSM preclinical studies and the anticipated 2015 international launch, expand the AUGMENTSM international launch, establish an international subsidiary and for other general corporate purposes.

The underwriters of the public offering were granted a 30-day option to purchase up to an additional 750,000 shares of common stock of the company.

Last month, OvaScience posted its results for the fourth quarter and the fiscal year 2013. The net loss was 11.0 million, versus a net loss of $4.2 million in the fourth quarter of 2012. For the full year, the net loss amounted to $29.0 million, compared to $13.5 million in the previous year. The increase of the loss was due to a one-time charge of $4.7 million for a technology access fee, with respect to the company’s collaboration with Intrexon, and also due to the high personnel costs, which includes stock-based compensation.

In addition, during the last year, OvaScience Inc (NASDAQ:OVAS) issued $2.5 million of common stock to Intrexon under the collaboration agreement and the remainder will be paid in December 2014. There was also a rise in the research and development expense to $15.8 million in 2013, from $6.3 million in 2012.

Hal Mintz’s Sabby Capital is another hedge fund that is bullish on OvaScience Inc, which holds 152,336 shares, worth $1.4 million.

Last week, Christoph Westphal and Richard Aldrich, director at OvaScience Inc, purchased 100,000 shares. Michelle Dipp, President & CEO and Longwood Fund, L.p., a large shareholder of the company also purchased 100,000 shares each of OvaScience. All three insiders purchased the securities at the public offering price of $10.00 per share.

Deerfield Management focuses on healthcare companies and specializes in funding R&D, corporate transitions, managing hostile takeovers and financial advisory services.

Last month, Deerfield Management boosted its position in Auspex Pharmaceuticals Inc (NASDAQ:ASPX), by buying 700,000 shares and revealed owning 1.9 million shares of the company. The fund also added 350,000 shares of Cara Therapeutics Inc. (NASDAQ:CARA). The fund also added KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) to its equity portfolio, the previous month, and revealed holding 3.18 million shares of the company.

Disclosure: none

Recommended Readings:

Deerfield Management Further Raises Its Position in Auspex Pharmaceuticals Inc (ASPX)

Deerfield Management Adds Cara Therapeutics Inc. (CARA) To Its Equity Portfolio

Deerfield Management Reports New Stake in KaloBios Pharmaceuticals Inc (KBIO)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

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!