Hal Mintz, Sabby Management Report 7.43% Stake in Oxygen Biotherapeutics, Inc. (OXBT)

Hal Mintz‘ Sabby Management has reported a new stake in the biotechnology company Oxygen Biotherapeutics, Inc. (NASDAQ:OXBT), a new filing with the SEC shows. Sabby currently owns over 1.96 million shares of the company, equal to 7.43% of the outstanding stock. The value of the passive position amounts to around $11.61 million, at the current price of the company’s stock.

Oxygen Biotherapeutics

Interestingly, Sabby Management purchased the shares of Oxygen Biotherapeutics, Inc. (NASDAQ:OXBT), after disclosing in its latest 13F filing, dumping the holding, which previously contained some 36,700 shares. Out of the funds that we track, Ellington, led by Mike Vranos, is the only one that disclosed holding Oxygen Biotherapeutics in its equity portfolio as at the end of last year. Ellington’s stake amasses 34,200 shares, with a reported value of $154,000.

Sabby’s latest acquisition falls in line with the recently announced public offering launched by Oxygen Biotherapeutics, Inc. (NASDAQ:OXBT). The company intends to sell around $52 million worth of stock, for a price of $5.60 per share, Oxygen Biotherapeutics said in a statement. The proceeds will be used for company’s clinical trials as well as for obtaining regulatory approvals for two of its drugs: Levosimendan and Oxycyte. In addition the company will also spend the cash it receives from the proceeds to support the manufacturing of the aforementioned drugs and for development of other product candidates, the statement added.

Moreover, at the beginning of March, Oxygen Biotherapeutics, Inc. (NASDAQ:OXBT) announced that its Oxycyte drug has been reviewed by U.S. FDA agency, which decided to lift the clinical hold of the drug, which means a green light for the clinical development of the product in the U.S, another press release said.

On the back of positive news related to the development of the company, the stock of Oxygen Biotherapeutics has been gaining ground since the beginning of the year, and is already 30% year-to-date.

Recently, Sabby Management disclosed adding other two Healthcare stocks to its equity portfolio. The fund disclosed ownership of 437,500 shares of Recro Pharma Inc (NASDAQ:REPH) and 1.7 million shares of Bioline RX Ltd (NASDAQ:BLRX), both stakes amassing around 5% of the companies’.

Disclosure: none

Recommended Reading:

RA Capital Discloses New Passive Stake in Repros Therapeutics Inc (RPRX)

Steven Cohen Ups His Bets on NQ Mobile Inc (ADR) (NQ)

Himanshu H. Shah Ups Stake in Corinthian Colleges Inc (COCO); Sends Letter to the Board

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
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 World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!