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Steadymed Ltd. (STDY): OrbiMed Advisors Reports Large New Stake

Sam Isaly’s OrbiMed Advisors recently filed a Form 13D with the Securities and Exchange Commission in which reported the acquisition of 3.07 million shares of Steadymed Ltd. (NASDAQ:STDY), which account for 14.2% of the company’s outstanding stock. The acquisition, which was made solely for investment purposes, as reported in the filing, represents a new addition to OrbiMed Advisors’ portfolio.

Steadymed Ltd. (NASDAQ:STDY) is a pharmaceutical company engaged in the development of a plethora of therapeutic product candidates. Recently, the company signed an agreement upon which it will sell its common shares and warrants for purchasing shares for aggregate gross proceeds of up to $32 million in a two-tranche private placement. OrbiMed Advisors led the financing with the support of other investors. Over the past 12 months, Steadymed’s stock has lost 40.04%. For the first quarter of 2016, the company reported a loss per share of $0.46 and a net loss of $6.28 million, which compares to a loss per share of $4.35 and a net loss of $5.56 million for the same quarter of the previous year.

Samuel Isaly - Orbimed Advisors

Two funds in our database held positions in Steadymed Ltd. (NASDAQ:STDY) on March 31, those being James Flynn‘s Deerfield Management with a large 1.35 million-share position, and Adam Wright and Gary Kohler’s Blue Clay Capital, with a position of 99,810 shares. Furthermore, Jim Simons’ Renaissance Technologies just reported opening a small position in Steadymed during the second quarter through its 13F filing for the period, which released on Friday. The quant fund owns 10,800 shares of the company as of June 30.

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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
OrbiMed Advisors 0 3,072,196 0 3,072,196 3,072,196 14.2%
OrbiMed Advisors Israel II Limited 0 3,072,196 0 3,072,196 3,072,196 14.2%
OrbiMed Israel GP II 0 3,072,196 0 3,072,196 3,072,196 14.2%
OrbiMed Capital GP VI 0 3,072,196 0 3,072,196 3,072,196 14.2%
Samuel D. Isaly 0 3,072,196 0 3,072,196 3,072,196 14.2%

Samuel Isaly
Samuel Isaly
OrbiMed Advisors

Page 1 of 15 – SEC Filing

Washington, D.C. 20549

Under the Securities Exchange Act of 1934
SteadyMed Ltd.
(Name of Issuer)
Ordinary Shares, nominal value NIS $0.01 per share
(Title of Class of Securities)
(CUSIP Number)
OrbiMed Advisors LLC
OrbiMed Advisors Israel II Limited
OrbiMed Israel II GP, L.P.
OrbiMed Capital GP VI LLC
Samuel D. Isaly
601 Lexington Avenue, 54th Floor
New York, NY 10022
Telephone: (212) 739-6400
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 4, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  o
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See §240.13d-7(b) for other parties to whom copies are to be sent.
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 disclosures provided in a prior cover page.
The information required on 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).