Sophiris Bio Inc. (NASDAQ:SPHS): Sabby Capital Reports Large New Stake

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Hal Mintz‘s Sabby Capital recently filed a Form 13G with the SEC, in which it reported the acquisition of 2.48 million common shares of Sophiris Bio Inc. (NASDAQ:SPHS), which amass 8.53% of the company’s outstanding stock. The acquisition represents a new addition to Sabby Capital’s portfolio.

Sophiris Bio is a biopharmaceutical company that works on producing a variety of products to help treat people who suffer from urological ailments. Recently, the company reported favorable results from its Phase 2a Study of Topsalysin in localized prostate cancer. Over the past 12 months, Sophiris Bio’s stock has gained 317.65%. For the second quarter of 2016, the company disclosed a loss per share of $0.21 and a net loss of $4.1 million, compared to a loss per share of $0.22 and a net loss of $3.7 million for the same quarter of the previous year. Earlier this month, Maxim Group boosted its price target to $6 from $4, and has a ‘Buy’ rating on Sophiris Bio’s stock.

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The number of investors in our database long Sophiris Bio (NASDAQ:SPHS) decreased by one in the second quarter, leaving three hedge funds with positions in the company at the end of June. Among them were Kris Jenner, Gordon Bussard, and Graham McPhail’s Rock Springs Capital Management, with a $1.05 million position, and Ken Griffin’s Citadel Investment Group, with a position valued at $106,000. The investor who lost optimism in Sophiris Bio (NASDAQ:SPHS) and sold off its position during the quarter, which had been valued at $775,000 on March 31, was Howard Guberman’s Gruss Asset Management.

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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
Sabby Healthcare Master Fund, Ltd 0 1,615,000 0 1,615,000 1,615,000 5.55
Sabby Volatility Warrant Master Fund, Ltd 0 868,330 0 868,330 868,330
Sabby Management 0 2,483,330 0 2,483,330 2,483,330
Hal Mintz 0 2,483,330 0 2,483,330 2,483,330

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Page 1 of 9 – SEC Filing



Under the Securities Exchange Act of 1934
(Amendment No.)*

Sophiris Bio, Inc.
(Name of Issuer)

Common Stock
(Title of Class of Securities)

(CUSIP Number)

August 23, 2016
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:

[_] Rule 13d-1(b)

[X] Rule 13d-1(c)

[_] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting
person’s initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall
not be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).

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