RESEARCH TRIANGLE PARK – A group of venture capital investors have sold $38.4 million worth of stock in G1 Therapeutics, a biopharmaceutical company focused on developing and commercializing cancer treatments.
In two separate transactions, the investors sold a total of 800,000 shares at a price of $48 per share, according to a Form 4 filed with the Securities and Exchange Commission on Friday.
The investors listed in the filing are Clay B. Thorp, Robert A. Ingram, John Crumpler, Kenneth B. Lee Jr. and Douglas Reed.
They are general partners of Hatteras Venture Partners, which invests in companies focused on biopharmaceuticals, medical devices, diagnostics and related opportunities in human medicine.
Following the transactions, the investment firm partners indirectly own a total of 3,237,711 shares in G1 Therapeutics through their roles as “individual managing members” with Hatteras Venture Advisors.
That means the investors sold 19.8 percent of their overall stock ownership in the company.
The filing listed May 30 as the date of both transactions.
The sale came just a week after these same Hatteras investors sold an additional 37,500 shares in the cancer-treatment company through various transactions that came to a total value of $1.9 million.
G1 Therapeutics shares closed June 1 at $43.60. That was a decline of $5.60, or 11.3 percent, from the company’s closing price May 29, the beginning of the trading week.
The filing can be found online.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
