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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio

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To: tuck who wrote (718)10/25/2002 2:18:59 PM
From: tuck  Read Replies (2) of 1005
 
Hmmm. BVF bails out early stage investors of ARNA for cheap, right as the Merck deal was being publicized. Bought more than 2 million shares for $5 each. Not a bad return already, with ARNA having traded up to $6.5 on that news.

sec.gov

BVF now holds some 7+ million shares of Arena, which is almost 28% of the outstanding shares. Not sure what BVF's average cost basis is, but that transaction sure brought it down.

Wow. Wish I could make deals like that.

Cheers, Tuck
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