Business
Acacia Research Reports Fourth Quarter and Full-Year 2020 Financial Results
Book Value as of December 31, 2020 Increases to $292.5 Million, or $5.94 Per Share NEW YORK--(BUSINESS WIRE)-- Acacia Research Corporation (Nasdaq: ACTG)
About this update from Acacia Research Corporation
[{"type":"text","content":"\nBook Value as of December 31, 2020 Increases to $292.5 Million, or $5.94 Per Share\n\n NEW YORK--(BUSINESS WIRE)--\nAcacia Research Corporation (Nasdaq: ACTG) today reported results for the three and 12-month period ended December 31, 2020.\n\nClifford Press, Chief Executive Officer, stated, “During the year, we completed our first transaction in our strategic partnership with Starboard Value LP (“Starboard”), and acquired a portfolio of late-stage life science assets, increasing our book value by more than $117.5 million. After acquiring this portfolio for $282.3 million, we sold several holdings to recover $188.5 million while retaining assets which were valued at more than $267.4 million as of December 31, 2020. Subsequent to year end, Immunocore, whose securities are included in the portfolio, conducted a successful IPO, following the release of positive clinical data, which increased the value of our holding by $31.9 million as of March 26, 2021. We continue to hold substantial value in the securities of public and private companies remaining in the portfolio.”\n\nOur life sciences portfolio as of December 31, 2020 includes:\n\n\n\nPublic Company Securities (at market value at December 31, 2020)\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nCompany\n\n\nTicker\n\n\n\n\nNumber of Shares\n\n\n\n\nValue\n\n\n\n\nChange since 9/30\n\n\n\n\nArix Bioscience plc 1\n\nLSE: ARIX\n\n25.8 mm\n\n$77.3 mm\n\n$40.3 mm\n\n\nSensyne Health plc\n\nAIM: SENS\n\n15.2 mm\n\n$23.3 mm\n\n$11.9 mm\n\n\nInduction Healthcare Group plc\n\nAIM: INHC\n\n4.2 mm\n\n$4.2 mm\n\n($0.2 mm)\n\n\n\n\n\n\n\n\n\n\n \n\n\nTotal Public Holdings\n\n\n\n\n\n$104.8 mm\n\n$52.0 mm\n\n\n\n\n\n\nPrivate Company Securities (at December 31, 2020) \n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nCompany \n\n\nOwnership Percentage \n\n\n\n\nValue\n\n\n\n\n\n\nOxford Nanopore Technologies ¹\n\n\n6%\n\n\n\n$111.1 mm\n\n\n\n\nImmunocore 1, 2\n\n\n4%\n\n\n\n$26.0 mm\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nNext three positions:\n\n\n\n\n\n\n\n\n\n\nViamet Pharmaceuticals\n\n\n26%\n\n\n\n\n\n\n\n\nAMO Pharma\n\n\n22%\n\n\n\n\n\n\n\n\nNovaBiotics \n\n\n4%\n\n\n\n$25.4 mm\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nTotal Private Holdings \n\n\n\n\n\n$162.5 mm\n\n\n\n\n\n\n1 Value of Oxford Nanopore Technologies and Immunocore securities based on observed transactions; remaining holdings of private company securities valued at c...