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George Soros Buys Stake in Cancer Treatment Company

George Soros (Trades, Portfolio) has taken a 5.17% stake in Dallas-based PlasmaTech Biopharmaceuticals (PTBI), GuruFocus data show.

The company develops plasma-derived therapeutics for cancer patients, with six products in its pipeline, four of which may represent more than billion-dollar market opportunities. Two of its products aimed at side effects of cancer treatments received FDA clearance in July 2014.


In September it also entered into an exclusive license agreement for a process that extracts and purifies protein-based drugs from human blood plasma, a growing market the company estimates is worth $15 billion.

Soros reported purchasing 1,166,667 shares of PlasmaTech Biopharmaceuticals on April 22. In the fourth quarter, he had purchased 250,000 shares of the company.

Plasmatech's share price declined by 17% year to date for a closing price of $2.86 per share on Monday.

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The company funds its operations primarily through private sales of stock and through licensing agreements. Since inception is has reported negative cash flows and said in its November quarterly filing that it would have to seek additional financing sources within the next 12 months.

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This article first appeared on GuruFocus.