Constantly on the hunt for biotechnology stocks, James E. Flynn has identified another potential winner. In a recent Form 3 filing with the Securities and Exchange Commission, Flynn’s fund, Deerfield Management, has disclosed ownership of Neos Therapeutics Inc (NASDAQ:NEOS) stock and warrants ahead of the company’s initial public offering (IPO). According to the filing, the fund holds 208,333 shares of class C preferred stock and warrants to purchase 104,166 Series C preferred shares, with an exercise price of $12.00. Flynn and Deerfield Management were shareholders of Neos Therapeutics before the company went public and owned 625,000 shares before the IPO.
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Based in Grand Prairie, TX, Neos Therapeutics Inc (NASDAQ:NEOS) was founded in 1994 and engages mainly in the development and marketing of medication used for the treatment of Attention Deficit Hyperactivity Disorder (ADHD). A secondary product manufactured by the company is Tussionex®, a product indicated for the relief of cough and upper respiratory symptoms. Neos Therapeutics has announced today that 4,800,000 shares of common stock will be offered at a price of $15.00 per unit, plus an additional 720,000 shares as over-allotment options. The shares started trading on NASDAQ earlier today and the offering is expected to close on July 28.