13D Filing: Broadfin Capital and Recro Pharma Inc. (REPH)

Recro Pharma Inc. (NASDAQ:REPH): Kevin Kotler’s Broadfin Capital filed an amended 13D.

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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
Broadfin Capital 0 2,512,025 0 2,512,025 13.14%
Broadfin Healthcare Master Fund, Ltd 0 2,512,025 0 2,512,025 13.14%
Kevin Kotler 0 2,512,025 0 2,512,025 13.14%

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Page 1 of 10 – SEC Filing

UNITED
STATES

SECURITIES AND
EXCHANGE COMMISSION

WASHINGTON,
DC 20549

SCHEDULE 13D

THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)*

Recro Pharma, Inc.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
75629F109
(CUSIP Number)

Broadfin Capital, LLC

300 Park Avenue, 25th Floor

New York, New York 10022

Telephone – (212) 808-2460

(Name, Address and Telephone Number of Person
Authorized to Receive

Notices and Communications)

December 13, 2017
(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 ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ _ ].
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).

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Page 2 of 10 – SEC Filing

CUSIP No. 75629F109
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Broadfin Capital, LLC
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [x]
3. SEC USE ONLY
4. SOURCE OF FUNDS
AF, WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
2,512,025
9. SOLE DISPOSITIVE POWER
0
10. SHARES DISPOSITIVE POWER [_]
2,512,025
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,512,025
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.14%
14. TYPE OF REPORTING PERSON
OO, IA

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Page 3 of 10 – SEC Filing

CUSIP No. 75629F109
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Broadfin Healthcare Master Fund, Ltd.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [x]
3. SEC USE ONLY
4. SOURCE OF FUNDS
AF, WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
2,512,025
9. SOLE DISPOSITIVE POWER
0
10. SHARES DISPOSITIVE POWER [_]
2,512,025
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,512,025
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.14%
14. TYPE OF REPORTING PERSON
OO

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Page 4 of 10 – SEC Filing

CUSIP No. 75629F109
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Kevin Kotler
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [x]
3. SEC USE ONLY
4. SOURCE OF FUNDS
AF, WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
0
8. SHARED VOTING POWER
2,512,025
9. SOLE DISPOSITIVE POWER
0
10. SHARES DISPOSITIVE POWER [_]
2,512,025
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,512,025
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.14%
14. TYPE OF REPORTING PERSON
IN, HC

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Page 5 of 10 – SEC Filing

CUSIP No. 75629F109
Item 1. Security and Issuer.
This statement on Schedule 13D (the “Schedule 13D”) relates to the Common Stock, $.01 par value per share (the “Common Stock”), of Recro Pharma, Inc., a Pennsylvania corporation with its principal executive offices located at 490 Lapp Road, Malvern, Pennsylvania 19355 (the “Issuer”).
Item 2. Identity and Background.
(a)-(c), (f)

This Schedule 13D is being filed jointly by
(i) Broadfin Capital, LLC, a Delaware limited liability company, (ii) Broadfin Healthcare Master Fund, Ltd., an exempted company
incorporated and existing under the laws of the Cayman Islands, and (iii) Kevin Kotler, a United States citizen (collectively,
the “Reporting Persons”).

The principal business address of the Reporting
Persons is 300 Park Avenue, 25th Floor, New York, New York 10022.

Kevin Kotler is the managing member of Broadfin
Capital, LLC, an investment management firm that serves as the investment manager to Broadfin Healthcare Master Fund, Ltd.  The
principal business of Broadfin Healthcare Master Fund, Ltd. is purchasing, holding and selling securities for investment purposes.

(d) None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.

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Page 6 of 10 – SEC Filing

Item 3. Source and Amount of Funds or Other Consideration.

The funds for the purchase of the Shares beneficially
owned by the Reporting Persons came from the working capital of Broadfin Healthcare Master Fund, Ltd.

No borrowed funds were used to purchase the
Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary
course of business.

Item 4. Purpose of Transaction.

The Reporting Persons hold the securities described
in Item 5 of this statement for investment purposes only.

No Reporting Person has any present plan or proposal which would
relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein.
The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including,
without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the
securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with
respect to their investment in the Issuer as they deem appropriate including, without limitation, making proposals to the Issuer
concerning changes to the capitalization, ownership structure or operations of the Issuer, purchasing additional Shares, selling
some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares or changing
their intention with respect to any and all matters referred to in Item 4.

Item 5. Interest in Securities of the Issuer.
(a)-(c)

As of the date hereof, Broadfin Capital, LLC,
Broadfin Healthcare Master Fund, Ltd. and Kevin Kotler may be deemed to be the beneficial owner of 2,512,025 shares of Common Stock
or 13.14% of the shares of the Common Stock of the Issuer, based upon the 19,123,935
shares of Common Stock outstanding as of November 7, 2017, according to the Issuer’s
10-Q
filed on November 9, 2017.

Each of Broadfin Capital, LLC, Broadfin Healthcare
Master Fund, Ltd. and Kevin Kotler has the sole power to vote or direct the vote of 0 shares of Common Stock and the shared power
to vote or direct the vote of 2,512,025 shares of Common Stock.

Each of Broadfin Capital, LLC, Broadfin Healthcare
Master Fund and Kevin Kotler has the sole power to dispose or direct the disposition of 0 shares of Common Stock and the shared
power to dispose or direct the disposition of 2,512,025 shares of Common Stock.

The transactions
effected in the Common Stock since the last filing on December 4, 2017 are set forth in Exhibit B and each transaction was
an open-market transaction.

The aforementioned shares of Common Stock were
acquired for investment purposes. Broadfin Capital, LLC and Broadfin Healthcare Master Fund, Ltd. may acquire additional securities
of the Issuer, dispose of all or some of these securities from time to time, in each case in open market or private transactions,
block sales or purchases or otherwise, or may continue to hold the shares of Common Stock.

The Reporting Persons specifically disclaim
beneficial ownership in the shares of Common Stock reported herein except to the extent of their pecuniary interest therein.

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Page 7 of 10 – SEC Filing

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
This Item is not applicable.
Item 7. Material to be Filed as Exhibits.

An agreement relating to the filing of a joint
statement as required by Rule 13d-1(f) under the Securities Exchange Act of 1934 is filed herewith as Exhibit A.

A description of the transactions
in the Common Stock that were effected by the Reporting Persons since the last filing on
December 4, 2017 is filed herewith as Exhibit B.

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Page 8 of 10 – SEC Filing

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and correct.

December 14, 2017
(Date)
BROADFIN CAPITAL, LLC
By:  /s/ Kevin Kotler
Kevin Kotler, Managing Member
KEVIN KOTLER
/s/ Kevin Kotler
BROADFIN HEALTHCARE MASTER FUND, LTD.
By:  /s/ Kevin Kotler
Kevin Kotler, Director

Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (see 18 U.S.C. 1001).

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Page 9 of 10 – SEC Filing

Exhibit A

AGREEMENT

The undersigned agree that
this Schedule 13D/A, dated December 14, 2017, relating to the Common Stock par value $0.01 of Recro Pharma, Inc. shall be filed
on behalf of the undersigned.

December 14, 2017
(Date)
BROADFIN CAPITAL, LLC
By:  /s/ Kevin Kotler
Kevin Kotler, Managing Member
KEVIN KOTLER
/s/ Kevin Kotler
BROADFIN HEALTHCARE MASTER FUND, LTD.
By:  /s/ Kevin Kotler
Kevin Kotler, Director

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Page 10 of 10 – SEC Filing

Exhibit B

Transactions in Common Stock by the
Reporting Persons

TRANSACTION

Trade Date

Quantity

Trade Price

SALE 12/5/2017 100,000 $ 10.00
SALE 12/12/2017 25,000 $ 10.00
SALE 12/12/2017 100 $ 9.89
SALE 12/12/2017 50,000 $ 9.80
SALE 12/13/2017 9,900 $ 9.84
SALE 12/13/2017 8,237 $ 9.80

SK
25125 0001 7764599

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