In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Calithera Biosciences Inc. (NASDAQ:CALA) reported that Viking Global has picked up 1,607,936 of common stock as of 2017-02-21.
The acquisition brings the aggregate amount owned by Viking Global to a total of 1,607,936 representing a 7.8% stake in the company.
For those not familiar with the company, Calithera Biosciences, Inc. is a clinical-stage pharmaceutical company. The Company focuses on discovering and developing small molecule drugs directed against tumor and immune cell targets that control key metabolic pathways in the tumor microenvironment. It is engaged in developing agents that take advantage of the metabolic requirements of tumor cells and cancer-fighting immune cells, such as cytotoxic T-cells. Its lead product candidate, CB-839, is a critical enzyme in tumor cells. Its other product candidate, CB-1158, which is an enzyme that depletes the amino acid arginine, a key metabolic nutrient for T-cells. Its lead preclinical program in tumor immunology is directed at developing inhibitors of the enzyme arginase and may provide a therapeutic agent for the target. CB-839 is a selective, reversible and orally bioavailable inhibitor of human glutaminase. Hexokinase is an enzyme in the pathway that allows cancer cells to convert glucose to energy to fuel cancer cell growth.
A glance at Calithera Biosciences Inc. (NASDAQ:CALA)’s key stats reveals a current market capitalization of 201.87 million based on 21.82 million shares outstanding and a price at last close of $9.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-16, Adage picked up 500,000 at a purchase price of $3.15. This brings their total holding to 3,635,069 as of the date of the filing.
On the sell side, the most recent transaction saw Hecht unload 970 shares at a sale price of $6.58. This brings their total holding to 8,625.
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 Calithera Biosciences Inc. (NASDAQ:CALA) as things move forward to see if its progress aligns with these transactions.
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