Shareholder Activist Update: Perceptive Advisors, Tang Capital, & MMI Investments
| February 17th, 2010 | ||
| Contributed by: Hedge Fund Solutions LLC | ||
| Earlier this month, Perceptive Advisors LLC and Tang Capital Partners LP nominated three board members for Penwest Pharmaceuticals Co. (NASDAQ: PPCO) for election at the next annual meeting. Last year in January, the two investors elected three directors for Penwest and won two of the board seats at the annual meeting. If the three new nominees win, Perceptive and Tang will control five of eight board seats. The two investors together hold 13,172,044 shares of Penwest or 40.5% of shares outstanding. Hedge Fund Solutions previously mentioned Penwest in several Catalyst Research Reports, highlighting Perceptive Advisors’ letter advising Penwest to reduce its R&D expenses so that the inherent value of Penwest’s Opana ER business can be realized. In other shareholder activist news, MMI Investments LP, also known as Millbrook Capital Management Company LLC, has been aggressively increasing its ownership in Genoptix, Inc. (NASDAQ: GXDX) since the end of 2009. From early December, MMI purchased 665,000 shares of Genoptix or 3.9% of shares outstanding, increasing its total holdings of Genoptix to 1,016,000 shares or 5.9% of shares outstanding. | ||
For Detailed Investor Profiles on these Investors, click below: |
Millbrook Capital Management (MMI) |
Tang Capital Management |
Related People: Clay Lifflander;
Related Entities: Aclara Biosciences Inc;
Related Article Tags: Investment Management, Fund Manager and General Financial News; Hedge Fund Resources and Featured Partner News
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