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Axovant Sciences Ltd.(AXON): QVT Financial Acquires Dispositive Power Over 75 Million Shares

Daniel Gold‘s QVT Financial recently filed a Form 13D with the Securities and Exchanges in which it reported the appointment of its affiliate, Dr. Andrew Lo, to the Board of Directors of Axovant Sciences Ltd.(NYSE:AXON). The  move means the fund may attain “dispositive power” over 75 million shares that account for 75.6% of the company’s outstanding stock. QVT Financial, which doesn’t beneficially own any common shares or securities of the company, would acquire that “dispositive power” only if the three major shareholders of the company unanimously vote for it.

Axovant Sciences, formerly known as Roivant Neurosciences, is a pharmaceutical company that works on discovering and manufacturing various therapeutics to help treat patients who suffer from dementia and similar disorders. Year-to-date, the company’s stock is down by 32.17%. In its financial results for fiscal year 2016, Axovant Sciences reported a net loss of $133.1 million, which amounted to a loss per share of $1.41. Recently, HC Wainwright and Leering Swann reiterated their ‘Buy’ ratings on Axovant Sciences’ stock.

As of the end of March, 11 hedge funds in our system were shareholders of Axovant Sciences (NYSE:AXON), among which the biggest position was held by Peter Kolchinsky’s RA Capital Management, valued at $57.4 million. The second-largest stake was owned by Jacob Gottlieb’s Visium Asset Management, and was worth approximately $48.1 million. Other investors long the stock included D E Shaw, founded by David E. Shaw, and Joseph Edelman’s Perceptive Advisors.

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Among smart money managers that initiated new positions in Axovant Sciences (NYSE:AXON) during the first quarter were Anders Hove and Bong Koh’s VHCP Management, which had a $2.1 million position in the company, Hal Mintz’s Sabby Capital, Mike Vranos’ Ellington, and Jeremy Green’s Redmile Group.

You can access the original SEC filing by clicking here.

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Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
QVT Financial 0 0 0 75,000,000 75,000,000 75.6%
QVT Financial GP 0 0 0 75,000,000 75,000,000 75.6%
QVT Fund V 0 0 0 75,000,000 75,000,000 75.6%
QVT Associates GP 0 0 0 75,000,000 75,000,000 75.6%

Daniel Gold
Daniel Gold
QVT Financial

Page 1 of 9 – SEC Filing



Washington, D.C. 20549




Under the Securities Exchange Act of 1934



Sciences, Ltd.

(Name of Issuer)

Common Shares, $0.00001 par value

(Title of Class of Securities)


(CUSIP Number)

Eleazer Klein, Esq.

Schulte Roth & Zabel LLP

919 Third Avenue, New York, NY 10022

(212) 756-2000

Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 8, 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-l(e),
240.13d-l(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 persons 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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