Wednesday, September 05, 2007

OSS Capital Raises Stake in Flamel Technologies (FLML)

In an amended 13D filing on Flamel Technologies SA (Nasdaq: FLML), OSS Capital Management disclosed they raised their stake in the company to 26.5% (6,346,047 shares). In an August 13D/A filing the firm disclosed a 25.6% stake (6,151,047 shares) in the company.

Shares of FLML are up 7% today.

Dan Loeb's ThirdPoint LLC has a 9.2% 'passive' stake in Flamel and the company is already under activist pressure from Redwood Asset Management, which is calling for a sale.

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