Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Dipexium Pharmaceuticals Inc (DPRX): Kingdon Capital Boosts Stake in Recently-Public Pharmaceutical Company

Mark Kingdon’s Kingdon Capital recently disclosed an increase in its exposure to Dipexium Pharmaceuticals Inc (NASDAQ:DPRX). Following the addition of 20,000 shares of Common Stock to its holdings, the firm owns 730,000 shares of Dipexium, which account for 8.55% of its outstanding stock.

Kingdon Capital Management is a New York-based hedge fund sponsor founded in 1983 and managed by Mark Kingdon ever since. Mr. Kingdon graduated from Columbia College and Harvard Business School, and worked for AT&T Inc. (NYSE:T) and Century Capital Associates before opening Kingdon Capital. The firm has been very successful, returning, from its inception to 2011, 16.6% per year.


Now, you probably know Kingdon Capital, but do you might have never heard about Dipexium Pharmaceuticals Inc (NASDAQ:DPRX), a $89.14 million market cap development-stage pharmaceutical company that went public in March. It develops and markets Locilex, a topical antibiotic. A few days before Kingdon Capital raised its position, the company reported its financial results for the third quarter; and, although it is still reporting losses, David P. Luci, President and Chief Executive Officer assured that they have made progress over the quarter, and remain on their “stated timeline to file a New Drug Application (NDA) for Locilex® in the second half of 2015.”

According to our records, Kingdon Capital’s 730,000 shares make it the largest institutional shareholder in Dipexium Pharmaceuticals Inc (NASDAQ:DPRX). Another major institutional investor betting on this company is Kevin Kotler’s Broadfin Capital, which first revealed a 5.85% stake in early-April. The position, which comprises 475,000 shares, has remained untouched ever since. Also bullish is Brian Taylor’s Pine River Capital Management, which disclosed ownership of 205,962 shares by the end of the third quarter of 2014.

Another healthcare company that Kingdon Capital likes are Allergan, Inc. (NYSE:AGN), of which it holds 198,700 shares. Since the end of the third quarter (over which the fund initiated its stake), the stock is already up 17.6%

Disclosure: Javier Hasse holds no positions in any stocks or funds mentioned

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
This is a FREE report from Insider Monkey. Credit Card is NOT required.