James E. Flynn’s Deerfield Management, in a filing with the Securities and Exchange Commission, reported further raising its stake Auspex Pharmaceuticals Inc (NASDAQ:ASPX). The fund bought 700,000 shares at a price of $12 apiece, and currently owns around 1.99 million shares of the common stock of Auspex Pharmaceuticals, Inc.
Earlier, Deerfield Management revealed owning 1.29 million common shares of Auspex Pharmaceuticals Inc (NASDAQ:ASPX), which were held via class E preferred stock.
Auspex Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of medicines for the treatment of orphan diseases. Last week the company completed its IPO of 8.1 million shares of its common stock at a price of $12.0 per share.
Last month, Auspex Pharmaceuticals, Inc. raised financing worth $35.0 million through two different debt instruments. Funds worth $20.0 million were led by Deerfield Management Company and supported by other shareholders of the company. Another $15.0 million, in form of a four-year venture loan were raised from Oxford Finance LLC.
Deerfield Management is a healthcare focused investment company and it specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services.
Early this month, Deerfield Management initiated position in KaloBios Pharmaceuticals Inc., (NASDAQ:KBIO). The fund now holds approximately 3.18 million shares, amassing a stake of 9.64% of the company common stock. Deerfield Management also revealed a position in Cara Therapeutics Inc. (NASDAQ:CARA) a couple of days ago. The fund now holds 350,000 shares of Cara Therapeutics Inc., which is equivalent to 1.55% of the company’s common stock.