The New Tpg Group Holdings (Sbs) Advisors, Inc Holding in Albireo Pharma, Inc
Tpg Group Holdings (Sbs) Advisors, Inc filed with the SEC SC 13D form for Albireo Pharma, Inc. The form can be accessed here: 000090342316001364. As reported in Tpg Group Holdings (Sbs) Advisors, Inc’s form, the filler as of late owns 12.3% or 777,096 shares of the Health Care–company.
Albireo Pharma, Inc stake is a new one for the for this institutional investor and it was filed because of activity on November 3, 2016. We feel this shows Tpg Group Holdings (Sbs) Advisors, Inc’s positive view for the stock.
Reasons Why Tpg Group Holdings (Sbs) Advisors, Inc Bought – Albireo Pharma, Inc Stock
Purpose of Transaction.
Immediately prior to and in connectionwith the Merger (as defined below), TPG Biotech II held 312,374 ordinary shares (“Ordinary Shares”) of AlbireoLimited (“Prior Albireo”) issued upon the conversion of Series C voting preference shares of Prior Albireo (“SeriesC Shares”) and 7,812,191 Ordinary Shares issued upon the conversion of Series B voting preference shares of Prior Albireo(“Series B Shares”), and TPG Biotech II Reinvest held 2,978,399 Ordinary Shares issued upon the conversion ofSeries C Shares.
On November 3, 2016, the Issuer, formerlyknown as “Biodel Inc.” (“Biodel”), completed its business combination with Prior Albireo in accordancewith the terms of the Amended and Restated Share Exchange Agreement, dated as of July 13, 2016 (the “Exchange Agreement”),by and among Biodel, Prior Albireo and the shareholders and noteholders of Prior Albireo. Pursuant to the Exchange Agreement, eachholder of Prior Albireo Ordinary Shares or notes convertible into Ordinary Shares exchanged their shares of Prior Albireo for newlyissued Shares of Common Stock (the “Merger”) based on an exchange ratio of 0.06999 shares of Common Stock foreach Ordinary Share outstanding immediately prior to the Merger. As a result, the Issuer issued an aggregate of 4,156,449 sharesof Common Stock to Prior Albireo shareholders (after giving effect to the Reverse Stock Split (as defined below)), and Prior Albireobecame a wholly owned subsidiary of Biodel. Also, on November 3, 2016, in connection with, and prior to completion of, the Transaction,Biodel effected a 1-for-30 reverse stock split of its common stock (the “Reverse Stock Split”) and, followingthe completion of the Merger, changed its name to “Albireo Pharma, Inc.” Accordingly, pursuant to the Exchange Agreement,TPG Biotech II and TPG Biotech II Reinvest received in the aggregate, as Merger consideration, 777,096 shares of Common Stock (aftergiving effect to the Reverse Stock Split) in exchange for the 11,102,964 Ordinary Shares they held prior to the Merger.
Pursuant to the Exchange Agreement, theTPG Funds agreed not to, except in certain circumstances, sell or transfer, or engage in swap or similar transactions with respectto, the shares of Common Stock they received in the Merger for the 180-day period following the closing of the Merger.
The purchases of the Series B Sharesand Series C Shares held by TPG Biotech II and the Series C Shares held by TPG Biotech II Reinvest prior to the Merger were fundedby equity contributions of the limited partners of the respective TPG Funds.
Board of Directors
Following the consummation of the Merger,in accordance with the Exchange Agreement, the Issuer’s board of directors consists of (i) two members designated by theIssuer and (ii) five members designated by Prior Albireo. In accordance with the Exchange Agreement, at the Closing on November3, 2016, the board of directors and its committees were reconstituted and Dr. Heather Preston, a TPG Partner, was appointed toserve as a member of the Issuer’s board of directors.
Other than as described above, none ofthe Reporting Persons nor, to the best knowledge of each of the Reporting Persons, without independent verification, any of thepersons listed in Schedule I hereto, currently has any plans or proposals that relate to, or would result in, any of the matterslisted in Items 4(a)–(j) of Schedule 13D, although the Reporting Persons may, at any time and from time to time, review orreconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto. As a result ofthese activities, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in theoperations, management or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positionsmay include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein,including, without limitation, such matters as acquiring additional securities of the Issuer or
disposing of securities of the Issuer; entering into an extraordinarycorporate transaction such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; sellingor transferring a material amount of assets of the Issuer or any of its subsidiaries; changing the present board of directors ormanagement of the Issuer, including changing the number or term of directors or filling any existing vacancies on the board ofdirectors of the Issuer; materially changing the present capitalization or dividend policy of the Issuer; materially changing theIssuer’s business or corporate structure; changing the Issuer’s certificate of incorporation, bylaws or instrumentscorresponding thereto or taking other actions which may impede the acquisition of control of the Issuer by any person; causinga class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quotedin an inter-dealer quotation system of a registered national securities association; causing a class of equity securities of theIssuer to become eligible for termination of registration pursuant to Section 12(g)(4) of the Act; and taking any action similarto any of those enumerated above.
References to and the description ofthe Exchange Agreement set forth above are not intended to be complete and are qualified in their entirety by reference to thefull text of the Exchange Agreement, which is filed as an exhibit hereto and is incorporated by reference herein.
Albireo Pharma, Inc Institutional Sentiment
Latest Security and Exchange filings show 34 investors own Albireo Pharma, Inc. The institutional ownership in Q3 2015 is low, at 60.66% of the outstanding shares. This is increased by 1418309 the total institutional shares. 38916338 were the shares owned by these institutional investors. In total 2 funds opened new Albireo Pharma, Inc stakes, 5 increased stakes. There were 10 that closed positions and 16 reduced them.
Rock Springs Capital Management Lp is an institutional investor bullish on Albireo Pharma, Inc, owning 4000000 shares as of Q3 2015 for 0.14% of its portfolio. Kevin Kotler Broadfin Capital Llc owns 5155530 shares or 0.13% of its portfolio. CA Longwood Capital Partners Llc have 0.65% of their stock portfolio for 2548830 shares. Further, Awm Investment Company Inc reported stake worth 0.38% of its US stock portfolio. The CT Great Point Partners Llc owns 3316966 shares. Albireo Pharma, Inc is 0.58% of the manager’s US portfolio.
Albireo Pharma, Inc., formerly Biodel Inc., is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Its clinical pipeline includes over two Phase II product candidates and one Phase III product candidate. Its pipeline includes A4250, A3384 and Elobixibat. The Company is developing A4250 as a treatment for pediatric orphan cholestatic liver diseases, such as progressive familial intrahepatic cholestasis (PFIC). The Company is developing A3384 for the treatment of bile acid malabsorption (BAM) disease. The Company is also developing Elobixibat as a treatment for chronic idiopathic constipation (CIC). A4250 and Elobixibat are selective inhibitors of the ileal bile acid transporter (IBAT). The Company has completed a Phase II clinical trial of a prototype of A3384 in over 19 subjects with BAM.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 0.64 in 2016 Q2. Its up 0.14, from 0.5 in 2016Q1. The ratio is positive, as 6 funds sold all Albireo Pharma Inc shares owned while 5 reduced positions. 1 funds bought stakes while 6 increased positions. They now own 5.68 million shares or 19.38% less from 7.05 million shares in 2016Q1.
Blackrock Fund Advsrs last reported 0% of its portfolio in the stock. Psagot Invest House Limited last reported 0% of its portfolio in the stock. Goldman Sachs Group, a New York-based fund reported 17,021 shares. Renaissance Technology Limited Liability Co accumulated 0% or 3.57 million shares. California Employees Retirement Sys has 22,656 shares for 0% of their US portfolio. Ladenburg Thalmann Finance Service has 0% invested in the company for 1,000 shares. Finemark Bancorp And Tru reported 7,302 shares or 0% of all its holdings. Ameriprise Financial reported 12,300 shares or 0% of all its holdings. Gru One Trading L P accumulated 0% or 60,628 shares. Moreover, Northern has 0% invested in Albireo Pharma Inc (NASDAQ:BIOD) for 45,764 shares. Moreover, Vanguard has 0% invested in Albireo Pharma Inc (NASDAQ:BIOD) for 1.53 million shares. Creative Planning owns 150 shares or 0% of their US portfolio. Plante Moran Financial Advisors Limited Liability Corporation accumulated 1,470 shares or 0% of the stock. Citadel Advsrs Limited Liability Company has 0% invested in the company for 74,155 shares. Blackrock Institutional Na holds 25,914 shares or 0% of its portfolio.
Analysts await Albireo Pharma Inc (NASDAQ:BIOD) to report earnings on December, 15.
The stock closed at $19.46 during the last session. It is down 80.56% since April 4, 2016 and is uptrending. It has outperformed by 75.57% the S&P500.
Albireo Pharma, Inc., formerly Biodel Inc., is a clinical-stage biopharmaceutical company. The company has a market cap of $1.25 billion. The Firm is focused on the development and commercialization of bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. It currently has negative earnings. The Company’s clinical pipeline includes over two Phase II product candidates and one Phase III product candidate.
Albireo Pharma Inc (NASDAQ:BIOD) Ratings Coverage
Out of 2 analysts covering Biodel (NASDAQ:BIOD), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Biodel has been the topic of 2 analyst reports since December 18, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Ladenburg Thalmann given on Friday, December 18. The firm has “Market Perform” rating by William Blair given on Friday, December 18.
More notable recent Albireo Pharma Inc (NASDAQ:BIOD) news were published by: Quotes.Wsj.com which released: “News Albireo Pharma Inc.ALBO” on November 03, 2016, also Streetinsider.com with their article: “Form 3 ALBIREO PHARMA, INC. For: Nov 03 Filed by: Sermon Charles” published on November 07, 2016, Streetinsider.com published: “Form 4 ALBIREO PHARMA, INC. For: Nov 03 Filed by: Zorn Peter A” on November 07, 2016. More interesting news about Albireo Pharma Inc (NASDAQ:BIOD) were released by: Marketwired.com and their article: “Biodel Inc. and Albireo Limited Agree to Combine” published on May 25, 2016 as well as Globenewswire.com‘s news article titled: “Albireo Completes Transaction with Biodel to Create Publicly Traded Company …” with publication date: November 03, 2016.
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