Just curious. Did this come up in a scan? Maybe following since its IPO? Are you just looking for approval or more interested in partnership/buyout potential?
Do you consider this info reliable?
ITRM> Institutional ownership. ~70%. You don't see this type of ownership level very often with small cap biopharma companies
**************************Received a CRL from FDA in July last. Something about revising data submitted. PR from ITRM said they didn't have the financing to complete the study. Sarissa Cap and R A Capital invested in Sept/ Sarissa to the tune of 40% ownership with rights to buy more. (activist investment). ITRM recently applied and was given NDA approval for their drug. PDUFA date for approval of drug is early July 21. The company is set up for a buyout. They only have 4 employees/ no sales staff/ Denner from Sarissa is a turnaround-buyout specialist/ ITRM recently partnered with an outside company to market and sell drug (IMO just to increase buyout price/ and just did a shelf BOUGHT offering, possibly so Sarissa can exercise it's right to buy more (just my theory)/ and by increasing number of shares it also increases buyout price. If they went in to a buyout negotiation with only 4 employees and no sales infrastructure they would get raped on the price, hence the recent moves. Fascinating!
Alex & Sarissa are known from above link and many others of turning Bio companies in to large profitable buyouts. Sarissa currently owns 33% of ITRM with a special clause for obtaining 60% total ownership of the outstanding shares.
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