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ACADIA Pharmaceuticals Inc. Message Board

  • ezvestor ezvestor Nov 13, 2013 10:19 PM Flag

    OT Major new investment by Baker Brothers and decrease in another investment

    Last month the BBs sold down their investment in MEI Pharma from 6.8% to 5.1%. (MEI is HQ'd in the office suite exactly next to my office here in San Diego. Never seems like there is much activity....but I don't know anything about their pipeline.)

    On a more interesting note, BBs took a 19.9% interest (just below 20% to avoid equity method accounting and other issues I suppose) in Mirati Therapeutics (NASDAQ: MRTX). I have not read thru the S-I Filing yet but apparently MRTX was listed on the Toronto exchange and had offices in Princeton also but decided to restructure the company, closed the Toronto and Princeton office, let go a ton of staff, raised $53 MM of new money underwritten by Jefferies and moved the whole operation SD about 3 miles from my office. BBs bought about 2.4 MM shares at the offering price of $17.50 share or about $41 MM. Seems like a pretty serious investment for a company is such a state of transition, hinting that their technology might have significant potential.

    So, what do they do? A pretty broad line of related oncology drugs in various states of development. I will not embarrass myself by trying to explain their science or potential for success but others might want to investigate this company and share their thoughts.

    Sorry for posting this on the Acadia MB but I know a lot of you (and me) are interested in the BBs next moves and this might give you an early opportunity to evaluate/invest. Early in that this investment was made on October, and hence will not be listed on the Sept. 30, 2013 13F filings due out at week's end.

    If you do have significant info to share we should probably move this thread to the MRTX YMB out of respect for the Acadia followers not otherwise interested in Mirati.

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