Cohen's SAC Capital Discloses New 5% Stake in InterMune (ITNM)
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Steven Cohen's S.A.C. Capital disclosed a 5%, or 1,979,703 share, stake in InterMune Inc. (Nasdaq: ITMN) in a just released 13G filing. The firm did not hold a stake in InterMune at the quarter ended December 31, 2008. A 13G indicates a 'passive investment' above 5%.
InterMune recently sold 3.5 million shares of common stock, so some of the SAC stake could be related to that offering.
In early February, InterMune announced positive Phase 3 CAPACITY studies evaluating pirfenidone in patients with idiopathic pulmonary fibrosis. Shares rallied significantly since the release of the data.
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