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October was a positive month across most stock markets. The Nasdaq Biotech Index was up by 8.9% (in USD) in October, BB Biotech's share price was up by 9.5% (in CHF) and Net Asset Value was up by 8.6% ( in USD) during the same period. <br />
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BB Biotech released its third quarter report on October 21. In the third quarter the investment team continued to reshape the portfolio. Radius Health was taken private for USD 10 per share and one contingency value right of USD 1 per share depending on future sales targets. While at a disappointingly low price, the cash inflow of USD 87 mn increased our flexibility to act on interesting investment opportunities. First, the capital released from Radius was invested privately into Rivus Pharmaceuticals’ Series B financing. The funds will support clinical advancement of HU6, a first-in-class controlled metabolic accelerator designed to treat cardio-metabolic diseases with a focus on obesity. Second, we increased our holdings in Celldex. Third we increased our holdings in Revolution Medicines as the company progressed two clinical studies for their promising KRAS G12C and RAS-Multi inhibitors.<br />

BB Biotech Update October 2022

October was a positive month across most stock markets. The Nasdaq Biotech Index was up by 8.9% (in USD) in October, BB Biotech's share price was up by 9.5% (in CHF) and Net Asset Value was up by 8.6% ( in USD) during the same period.

BB Biotech released its third quarter report on October 21. In the third quarter the investment team continued to reshape the portfolio. Radius Health was taken private for USD 10 per share and one contingency value right of USD 1 per share depending on future sales targets. While at a disappointingly low price, the cash inflow of USD 87 mn increased our flexibility to act on interesting investment opportunities. First, the capital released from Radius was invested privately into Rivus Pharmaceuticals’ Series B financing. The funds will support clinical advancement of HU6, a first-in-class controlled metabolic accelerator designed to treat cardio-metabolic diseases with a focus on obesity. Second, we increased our holdings in Celldex. Third we increased our holdings in Revolution Medicines as the company progressed two clinical studies for their promising KRAS G12C and RAS-Multi inhibitors.
10.11.2022 - BB Biotech