Monday, July 16, 2007

Loeb's Third Point LLC Shows 9.2% "Passive" Stance in Flamel (FLML)

In a 13G filing on Flamel Technologies (Nasdaq: FLML), Daniel Loeb's Third Point LLC disclosed a 9.2% stake (2.2 million shares) in the company. This is up from the 225,000 share stake the firm disclosed at the quarter ended March 31, 2007.

Loeb is a known activist investor and Flamel is already under activist pressure from Redwood Asset Management, which is calling for a sale.

Flamel Technologies, S.A. is a biopharmaceutical company principally engaged in the development of two unique polymer-based delivery technologies for medical applications.

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