Adage Capital Management, boston hedge fund, launched by two former directors of the Harvard University endowment, earned almost 1 billion dollars in one day on shares of a biotech company after successfully passing a trial of a new drug.
Акции Puma Biotechnology Inc. increased in price by almost four times, when the company released the results of a trial of an experimental drug, able to stop the development of breast cancer at an early stage of the disease. According to Bloomberg data, As of March 31st, Adage was the largest external investor: hedge fund held 5,9 million Puma common shares, i.e 19% of their total.
