Broadwood Partners decreased its stake in OncoCyte Corporation (OCX)
Key Summary: Broadwood Partners, initially disclosing a 13.8% stake in 2016, engaged with the company's management, Board, and shareholders to explore value-maximizing strategies. Its stake increased to 22.9% by September 2019 but later reduced to 20.1% by February 2021. Neal C. Bradsher, Broadwood's President, serves on the Board of BioTime, the company's controlling shareholder.
Market cap: $437mm | OncoCyte Corporation is a development-stage biotechnology company focused in the field of regenerative medicine. The Company is developing molecular cancer diagnostics utilizing a discovery platform that focuses on identifying genetic markers expressed in various types of cancer.
- On September 8, 2016, Broadwood Partners disclosed 13.8% stating that it has been and may continue to be in contact with members of the management, Board and other shareholders regarding alternatives that the company could employ to maximize shareholder value. It is to be noted that Neal C. Bradsher, President of Broadwood, serves on the Board of BioTime (51.2%) the controlling shareholder of the company. Source
- On February 12, 2019, Broadwood Partners increased its stake to 17.5%.
- On July 2, 2019, Broadwood Partners increased its stake to 19.2%.
- On September 13, 2019, Broadwood Partners increased its stake to 22.9%.
- On January 24, 2021, Broadwood Partners decreased its stake to 21.6%.
- On February 9, 2021, Broadwood Partners decreased its stake to 20.1%
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