Carl Icahn Picking Up Activities in Biotech
Now that Carl Icahn was able to score his big coup in shares of Imclone Systems, it is of little surprise that he is out rattling the cages at other biotech holdings. He has long been a holder and investor in this sector, but he has just over the last week or so increased his holdings in some biotech stocks.
One hike was in Enzon POharmaceuticals (NASDAQ: ENZN), where he took his stake to 7.3% from 6.93%. The company has nominated an Icahn affiliate for election to the board of directors.
Amylin Pharmaceuticals (NASDAQ: AMLN) also is reviewing a 13D filing as Carl Icahn is appointing 5 members to its board of directors. His stake went from 7.3% to 8.3%.
Cadus Corp. (NASDAQ-OTCBB: KDUS is one small stock where Icahn is involved and he just marginally increased his stake (very marginally) to 4.966+ million shares.
We have a full list of his biotech holdings from last year. We suspect Mr. Icahn has been active in others or is about to be.
Jon C. Ogg
January 29, 2009
Carl Icahn Still Active in BioHealth Stocks (ANX, FOLD, AMLN, BIIB, CYBX, EMIS, ENZN, REGN, TELK)
Billionaire activist investor Carl Icahn showed his biotech and medical holdings yesterday, with the ownership filing date as of June 30, 2008. Here is a snapshot of his filed holdings:
- Adventrx Pharmaceuticals Inc. (AMEX: ANX)3.459 million shares, small position for Icahn
- Amicus Therapeutics, Inc. (NASDAQ: FOLD) 201,940 shares, small stake and small interest
- Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) 6.787 million shares
- Applera Corp
- Biogen-Idec (NASDAQ: BIIB) 9.948 million shares, which has actually been added to since that date
- Cyberonics (NASDAQ: CYBX) 2.008 million shares
- Emisphere Technologies, Inc. (NASDAQ: EMIS) 86,430 shares, tiny position for Icahn
- Enzon Pharma (NASDAQ: ENZN) 2.457 million shares
- Regeneron Pharma (NASDAQ: REGN) 2.508 million shares
- Telik Inc. (NASDAQ: TELK) 4.156 million shares
Jon C. Ogg
August 15, 2008
Forget ImClone, Cadence Pharma Is Today's Biotech Winner (CADX, IMCL)
You’ve already seen and read all over the web about Carl Icahn receiving a letter from Bristol-Myers that the company is offering $60.00 to acquire Imclone Systems Inc. (NASDAQ: IMCL). There is a stock moving far more than ImClone, yet it is no buyout.
Cadence Pharmaceuticals, Inc. (NASDAQ: CADX) has received written guidance from the FDA noting that one post-operative pain trial and one fever trial are sufficient to meet the pivotal clinical trial requirements for its New Drug Application for Acetavance
This pertains to the company’s intravenous formulation of acetaminophen to treat acute pain and fever in adults and children. Both studies have already been completed with positive outcomes and it is not required to initiate any additional clinical trials of Acetavance for its NDA submission.
What is crucial here is that teh company is pre-revenue stage and has only been spending cash on R&D. Cadence is up 75% in early trading at $11.28, which is actually styill not a new high.
52-Week range: $4.84 to $15.70
Avg. Volume: 115,000 shares
Market Cap: $433 million (after huge gains)
Options: N/A
Jon Ogg
July 31, 2008
