8. 10. 2019

KGI Reaffirmed its Know-how in the Pharmaceutical Sector

Krupa Global Investments reaffirmed its know-how in the pharmaceutical sector. Successfully appreciated its investment in Akcea Therapeutics.

Krupa Global Investments invested at the turn of September and October in shares of the pharmaceutical company Akcea Therapeutics. We took advantage of a stock drop of more than 20 % after CEO of the company, Paula Souteropoulos, President Sarah Boyce and COO Jeff Goldberg, left Akcea Therapeutics. They will continue to act as external consultants. Akcea Therapeutics shares responded by a steep fall, mainly because these leaders were behind the key research of AKCEA-ANGPTL3-L therapy, which is currently in the second phase of research to treat the patients suffering from diabetes, hypertriglyceridemia and non-alcoholic fatty liver disease (NAFLD).

Based on our analysis, we have decided to purchase a portfolio investment, as Akcea Therapeutics has been monitored for a long time and we considered this information to be purposeful.

On October 7, 2019 Akcea Therapeutics announced a licensing agreement with Pfizer on the above-mentioned AKCEA-ANGPTL3-L therapy. Under the terms of this agreement, Akcea Therapeutics will receive USD 125m and additional fees of up to USD 1.3bln in respect of royalties and on the basis of prospective revenues derived from the sale. Pfizer sees the potential of AKCEA-ANGPTL3-L therapy in the treatment of certain cardiovascular and metabolic diseases, among other things.

After this report was announced yesterday, shares of Akcea Therapeutics rose by more than 40 %. By successfully evaluating our investment in tens of percent, we have once again confirmed that the pharmaceutical and healthcare industry is a sector where we have excellent know-how. This action proved again the accuracy of our analysis.