Jeffrey Jay and David Kroin‘s Great Point Partners recently filed a Form 13G with the Securities and Exchange Commission in which it reported a significant increase to its stake in Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX). The fund’s position now consists of 2.77 million common shares of the company, which amass 7.57% of its outstanding stock. The fund held just 274,756 Foamix shares on June 30, as per its latest 13F filing.
As its name suggests, Foamix Pharmaceuticals is a clinical-stage pharmaceutical company that mainly works on producing minocycline foam for various skin problems. Recently, the company disclosed positive results from a phase 2 trial evaluating FMX-103 Topical Minocycline Foam for papulopustular rosacea. Over the past 12 months, the company’s stock has gained 34.5%. In its financial report for the second quarter of 2016, Foamix Pharmaceuticals reported a loss per share of $0.27 and revenue of $752,000, compared to a loss per share of $0.18 and revenue of $109,000 for the same period of the previous year.
Out of 749 smart money managers tracked by Insider Monkey which filed 13Fs for the June quarter, 17 were long Foamix Pharmaceuticals (NASDAQ:FOMX) at the end of June, up by five from the end of March. Bullish investors contained Julian Baker and Felix Baker’s Baker Bros. Advisors, which held a position valued at $14.24 million, James E. Flynn’s Deerfield Management, with a position worth $8.14 million, James A. Silverman’s Opaleye Management, Richard Driehaus’ Driehaus Capital, and Anand Parekh’s Alyeska Investment Group.
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|
|Great Point Partners||0||2,769,425||0||2,769,425||2,769,425||7.57%|
|Dr. Jeffrey R. Jay, M.D||0||2,769,425||0||2,769,425||2,769,425||7.57%|
|Mr. David Kroin||0||2,769,425||0||2,769,425||2,769,425||7.57%|
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