Acceleron Pharma Inc (NASDAQ:XLRN), a company developing treatments for cellular growth and repair, lands in the third position in Foresite Capital’s portfolio. The position was increased by 68% during the first quarter to 93,781 shares with a value of $3.57 million. Acceleron Pharma Inc (NASDAQ:XLRN) released its first quarter results today with the company losing $0.45 per share on limited revenue. It does however have a strong cash flow base of over $175 million to work from, which it predicts will carry its operations through mid-2017. Acceleron Pharma Inc (NASDAQ:XLRN) has plans to initiate phase 3 trials for its treatment luspatercept by the end of the year. Adage Capital Management holds the largest stake in Acceleron out of the funds in our database.
Foresite Capital’s final holding is Ignyta Inc (NASDAQ:RXDX), a biopharmaceutical company developing various targeted cancer treatments. Foresite’s position was lowered by 32% during the first quarter, leaving it with a $3.35 million holding made up of 336,766 shares. Ignyta Inc (NASDAQ:RXDX) shares spiked more than 30% in early March after it acquired the rights to four oncology development programs from Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), and are up by 36% year-to-date. Kevin Kotler’s Broadfin Capital reported raising its stake in Ignyta shortly afterwards, to 1.52 million shares.
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