Biotech Shares Bid Up Premarket Following 9.9% Institutional Stake Disclosure

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Tuesday, February 13, 2024

With biotech stocks finding trememdous success in recent months, it’s no wonder why everyone wants to get in on the action, including institutional investors. After yesterday’s market close, a Form SC 13G (Statement of acquisition of beneficial ownership by individuals) was filed on behalf of Bigger capital Fund GP, LLC, which showed that the group reported a 9.9% stake in Biodexa Pharmaceuticals plc (Nasdaq:BDRX).

It didn’t take long for traders to want to get their hands on this micro cap, with shares currently bid up at $1.92/share (+32.41% implied open for sellers) at the time of writing. It should be an exciting session for this biotech!

Biodexa Pharmaceuticals PLC is a United Kingdom-based drug delivery technology company. The Company is focused on improving the bio-delivery and bio-distribution of medicines. Its technologies include Biodexa Pharmaceuticals Q-Sphera, MidaCore and MidaSolve. Biodexa Pharmaceuticals Q-Sphera technology focuses on long acting injectables using proprietary 3D printing technology that encapsulates medicines into bioresorbable polymer microspheres with precision characteristics. MidaCore technology platform uses ultra-small gold nanoparticle (GNP) drug conjugates. MidaSolve Nano Inclusion technology solubilizes molecules that have minimal solubility at biological potential of Hydrogen (pH) extending available routes of administration, including direct-to-tumor delivery. It has a pipeline of approximately eight earlier stage programs, MTX110 (Brain Cancer in Children (DIPG)), MTX110 (Medulloblastoma), MTX110 (Glioblastoma), MTX114 (Psoriasis), MTD211 (Schizophrenia, MDD) and others.

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