Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Woodford takes 19% stake in biotech minnow

Woodford takes 19% stake in biotech minnow

Neil Woodford, the best UK investor of his generation, has taken a big chunk of biotech minnow Synairgen a month after it licensed an asthma drug for a fee worth up to $225 million (£131 million).

Citywire A-rated Woodford went from below a reportable holding in the business to owning 19% in one purchase, or 17.45 million shares worth £9.07 million at a share price of 52p.

The manager - who has offered the best long-term risk-adjusted return of any UK investor - left Invesco Perpetual, his employer of more than 25 years, earlier this year to launch his own business.

Shares in Synairgen briefly spiked more than 40% in June following the announcement of the deal with AstraZeneca, before deflating as the company placed 12.2 million shares to fund development.

AstraZeneca will pay the company an up-front fee of $7.25 million with the remainder subject to expectations, in addition to royalties. Broker finnCap has a 108p target price on the business.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter