Stonepine Capital Management buys $10,054,583 stake in QLT (USA) (QLTI)

QLT (USA) (QLTI) : Stonepine Capital Management scooped up 1,999,222 additional shares in QLT (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 5,778,496 shares of QLT (USA) which is valued at $10,054,583.QLT (USA) makes up approximately 4.70% of Stonepine Capital Management’s portfolio.

Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in QLTI by selling 64,259 shares or 30.82% in the most recent quarter. The Hedge Fund company now holds 144,231 shares of QLTI which is valued at $259,616.Brandes Investment Partners Lp boosted its stake in QLTI in the latest quarter, The investment management firm added 26,619 additional shares and now holds a total of 323,953 shares of QLT (USA) which is valued at $563,678. QLT (USA) makes up approx 0.01% of Brandes Investment Partners Lp’s portfolio.Geode Capital Management boosted its stake in QLTI in the latest quarter, The investment management firm added 156 additional shares and now holds a total of 40,967 shares of QLT (USA) which is valued at $71,283.

QLT (USA) opened for trading at $1.87 and hit $1.91 on the upside on Monday, eventually ending the session at $1.86, with a gain of 0.54% or 0.01 points. The heightened volatility saw the trading volume jump to 64,688 shares. Company has a market cap of $98 M.

On the company’s financial health, QLT (USA) reported $-0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.12.During the same quarter in the previous year, the company posted $-0.05 EPS.

QLT Inc. (QLT) is a biotechnology company engaged in the development and commercialization of ocular products. QLT is engaged in the development of QLT091001 for the treatment of Leber congenital amaurosis (LCA) and retinitis pigmentosa (RP). QLT091001 is an orally administered synthetic retinoid replacement for 11-cis-retinal a biochemical component of the visual retinoid cycle and is used for the treatment of certain age-related and inherited retinal degenerative diseases. The Company’s QLT091001 product candidate has completed a Phase Ib retreatment study for the treatment of LCA and RP a Phase Ib study for the treatment of RP with autosomal dominant mutation in retinal pigment epithelium protein 65 (RPE65) and a Phase IIa study for the treatment of impaired dark adaptation (IDA). QLT091001 has received orphan drug designations for the treatment of LCA and RP by the Food and Drug Administration (FDA) and the European Medicines Agency (EMA).

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