Peter Kolchinsky’s RA Capital Management has initiated a new position in Versartis Inc (NASDAQ:VSAR). RA Capital owns 1.40 million shares of the company, a new filing with the Securities and Exchange Commission showed. The position is equates to 5.8% of common stock and is passive by nature.
Recently, the company completed its initial public offering of 6.90 million common stock shares at a public offering price of $21 per share, which included 900,000 shares sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares. The company has a market cap of $676.1 million.
Versartis Inc (NASDAQ:VSAR) is an endocrine-focused biopharmaceutical company initially developing VRS-317, a novel, long-acting form of recombinant human growth hormone, for the treatment of growth hormone deficiency (GHD). VRS-317 is intended to reduce the burden of daily treatment by requiring significantly fewer injections, potentially improving compliance and, therefore, treatment outcomes. The company’s first targeted indication for VRS-317 is pediatric GHD, which represents an about $1.5 billion existing market opportunity.
Currently, the company is conducting the Phase 2a stage of its pediatric GHD clinical trial in which it is evaluating the dosing regimens of the drug. The company has global rights to VRS-317 and, if it is approved, it intends to sell it via its own specialty sales force in the United States and Canada, as well as other regions.
Versartis Inc (NASDAQ:VSAR) is led by co-founder and chief executive officer Jeffrey L. Cleland. Aisling Capital, managed by Dennis Purcell, held a major stake in Versartis Inc (NASDAQ:VSAR) before the IPO, according to another filing.
Boston-based RA Capital invests in companies with promising drugs and technologies. In the beginning of this month, Ra Capital disclosed a new passive stake in Enanta Pharmaceuticals Inc (NASDAQ:ENTA), owning 1.54 million shares. Last month, RA Capital revealed initiating a new position in SANUWAVE Health Inc. (OTCBB:SNWV) and raising its stake in pSivida Corp. (NASDAQ:PSDV). In the first company, the fund has reported a 9.9% passive stake, which contains around 4.67 million shares. Also, the fund disclosed a new stake in Repros Therapeutics Inc (NASDAQ:RPRX), holding 1.44 million shares.