In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Egalet Corp. (NASDAQ:EGLT) reported that Broadfin Capital has picked up 1,228,751 of common stock as of 2017-02-13.
The acquisition brings the aggregate amount owned by Broadfin Capital to a total of 1,228,751 representing a 4.75% stake in the company.
For those not familiar with the company, Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology. The Company’s product SPRIX Nasal Spray, which contains ketorolac tromethamine is a non-steroidal anti-inflammatory drug (NSAID) indicated in adult patients for the short-term management of moderate to moderately severe pain that requires analgesia at the opioid level. The Company’s product OXAYDO is an approved immediate-release (IR) oxycodone product formulated to deter abuse through snorting. The Company’s product candidate, ARYMO ER is an abuse-deterrent (AD), extended-release (ER), oral morphine formulation. The Company’s product candidate, Egalet-002, is an abuse-deterrent, extended-release, oral oxycodone formulation.
A glance at Egalet Corp. (NASDAQ:EGLT)’s key stats reveals a current market capitalization of 116.13 million based on 25.19 million shares outstanding and a price at last close of $4.63 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-02-11, Index picked up 266,771 at a purchase price of $12.00. This brings their total holding to 1,007,033 as of the date of the filing.
On the sell side, the most recent transaction saw Dayno unload 536 shares at a sale price of $7.75. This brings their total holding to 18,748.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Egalet Corp. (NASDAQ:EGLT) as things move forward to see if its progress aligns with these transactions.
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