Perceptive Advisors reports 21.15% ownership interest in Penwest Pharmaceuticals

By Lisa Kerner

Charlotte, N.C., Oct. 23 - Investors led by Perceptive Advisors LLC and Joseph Edelman upped their stake in Penwest Pharmaceuticals Co. to 21.15% with the purchase of 4,800 shares on Sept. 29 and Oct. 15.

The shares were priced at $5 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Perceptive and Edelman beneficially own approximately 6.69 million shares of the Danbury, Conn.-based company, which develops pharmaceutical products based on proprietary drug-delivery technologies.

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