Adolor's shot in the arm for HBK

Wed Mar 1, 2006



If you buy the line that it has been a tough time to pick winners in the pharmaceutical sector, then chances are you probably never heard of Exton, Penn.-based Adolor. And if you haven't, you may want to start kicking yourself now. That's because Adolor is a microcap drug developer that exploded into a small cap overnight as the stock rose more than 50% in the first week of February, providing a big win for a number of hedge funds, most notably HBK Investments.

Adolor's stock surge was strong medicine for HBK. Regulatory filings with the U.S. Securities and Exchange Commission show that the Texas-based hedge fund held a 7.4% stake in the company going into the final quarter. And while the stock languished late last year, it got a huge shot in the arm when the U.S. Food and Drug Administration in February gave Adolor's Entereg...

ISSN: 2151-1845 / CDC10004H

Register

By registering you will receive

  • A monthly newsletter on your specified areas of interest
  • A fortnightly update on the sector

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates


Popular Searches on HFI