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Tobira Therapeutics Inc. (TBRA): BVF Slashes Its Stake to 2.1% Following Merger Announcement

Mark Lampert‘s Biotechnology Value Fund LP recently filed a 13G with the US SEC to report lowering its stake in Tobira Therapeutics Inc. (NASDAQ:TBRA) to 399,433 shares, which amass 2.1% of the float. The stake was lowered from 2.14 million shares which Biotechnology Value Fund previously held, which accounted for 11.4% of the company’s outstanding stock, as per its previous 13G filing on the company.

Tobira Therapeutics, formerly Regado Biosciences, is a biopharmaceutical company that develops therapies to help treat patients who suffer from liver disease, inflammation fibrosis, and HIV. On September 20, Tobira signed an agreement with Allergan plc (NYSE:AGN) to be acquired by the company for a total sum of around $1.7 billion. Year-to-date, Tobira’s stock is up by a massive 293.03%.

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Seven of the hedge funds that we track were long Tobira Therapeutics Inc. (NASDAQ:TBRA) on June 30, down by two during the second quarter. Lampert’s fund had the largest position among the funds in our database, valued at $15.74 million, while Paul Marshall and Ian Wace’s Marshall Wace LLP, and Israel Englander’s Millennium Management also held positions worth more than a million dollars. Brian Ashford-Russell and Tim Woolley’s Polar Capital sold off its 50,000-share stake in the second quarter.

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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
Biotechnology Value Trading Fund OS 0 33,627 0 33,627 33,627 Less than 1%
BVF Partners OS Ltd 0 33,627 0 33,627 33,627 Less than 1%
BVF Partners 0 399,433 0 399,433 399,433 2.1%
BVF Inc 0 399,433 0 399,433 399,433 2.1%
Mark N. Lampert 0 399,433 0 399,433 399,433 2.1%
Mark Lampert
Mark Lampert
Biotechnology Value Fund / BVF Inc

Page 1 of 11 – SEC Filing

Washington, D.C. 20549
(Rule 13d-102)


(Amendment No. 6)1
Tobira Therapeutics, Inc.
 (Name of Issuer)
Common Stock, par value $0.001
 (Title of Class of Securities)
88883P 10 1
 (CUSIP Number)
September 20, 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:
   o  Rule 13d-1(b)
   x  Rule 13d-1(c)
   o  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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