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Heron Therapeutics, Inc. (HRTX): Tang Capital Partners Raises Stake to 17%

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According to a newly-amended 13D filing with the US SEC, Kevin C. Tang‘s Tang Capital Management owns 6.53 million shares of Heron Therapeutics Inc (NASDAQ:HRTX), the stake amassing 17.4% of the company’s outstanding stock. This is considerably more compared to 5.19 million shares Tang Capital Management reported in its 13F filing for the end of the fourth quarter of 2015.

Heron Therapeutics Inc (NASDAQ:HRTX) is a biotechnology company that is working on developing new products for a various medical needs, such as prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting (CINV). The company’s shares have increased by 41.82% over the last 12 months. Heron is currently waiting for the US Food and Drug Administration’s review and approval of New Drug Application for SUSTOL – an experimental drug indicated for chemotherapy-induced nausea.

Among the hedge funds tracked by Insider Monkey, a total of 21 hedge fund were bullish on Heron Therapeutics Inc (NASDAQ:HRTX) at the end of December, including Tang Capital Management. Julian Baker’s Baker Bros. Advisors reported the second-largest position worth $77.6 million. Other investors long the stock are Christopher Medlock James’s Partner Fund Management, Kevin Kotler’s Broadfin Capital and Bihua Chen’s Cormorant Asset Management.

However, the number of investors long the stock declined by seven during the fourth quarter and among those that lost the interest in Heron Therapeutics Inc (NASDAQ:HRTX) are Kevin Kotler’s Broadfin Capital that cut the biggest investment worth about $12.2 million in stock, and Hal Mintz’s Sabby Capital that dumped $3.9 million worth of shares.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Tang Capital Partners 0 6,117,530 0 6,117,530 6,117,530 16.3%
Tang Capital Management 0 6,117,530 0 6,117,530 6,117,530 16.3%
Kevin C. Tang 410,213 6,117,530 410,213 6,117,530 6,527,743 17.4%

Page 1 of 6 – SEC Filing



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 15)*
Heron Therapeutics, Inc.
(Name of Issuer)
 
Common Stock, par value $0.01 per share
(Title of Class of Securities)
 
427746102
(CUSIP Number)
 
Kevin C. Tang
Tang Capital Management, LLC
4747 Executive Drive, Suite 510
San Diego, CA 92121
(858) 200-3830
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
 
April 11, 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-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  o
     
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 person’s 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).
(Continued on following pages)


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