0000905718-11-000127.txt : 20110729 0000905718-11-000127.hdr.sgml : 20110729 20110729165552 ACCESSION NUMBER: 0000905718-11-000127 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110729 DATE AS OF CHANGE: 20110729 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Furiex Pharmaceuticals, Inc. CENTRAL INDEX KEY: 0001484478 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 271197863 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-85529 FILM NUMBER: 11998044 BUSINESS ADDRESS: STREET 1: 3900 PARAMOUNT PARKWAY STREET 2: SUITE 150 CITY: MORRISVILLE STATE: NC ZIP: 27560 BUSINESS PHONE: 919-456-7800 MAIL ADDRESS: STREET 1: 3900 PARAMOUNT PARKWAY STREET 2: SUITE 150 CITY: MORRISVILLE STATE: NC ZIP: 27560 FORMER COMPANY: FORMER CONFORMED NAME: PPD Therapeutics, Inc. DATE OF NAME CHANGE: 20100218 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TYNDALL CAPITAL PARTNERS L P CENTRAL INDEX KEY: 0001219314 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 599 LEXINGTON AVENUE SUITE 4100 CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2124462460 MAIL ADDRESS: STREET 1: 599 LEXINGTON AVENUE SUITE 4100 CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 furiex.htm FURIEX13DAM1 furiex.htm
UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C.  20549
 
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
 
(Amendment No. 1)*
 
 
 
FURIEX PHARMACEUTICALS, INC.
(Name of Issuer)
 
Common Stock, $0.001 Par Value
(Title of Class of Securities)
 
36106P101
(CUSIP Number)
       
     
with a copy to:
 
Tyndall Capital Partners, L.P.
  
Allen B. Levithan, Esq.
 
599 Lexington Avenue
  
Lowenstein Sandler PC
 
Suite 4100
  
1251 Avenue of the Americas, 18th Floor
 
New York, NY 10022
  
New York, NY 10020
 
(212) 446-2460
  
(973) 597-2500
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
July 15, 2011
(Date of Event which Requires Filing of this Statement)
 

If the filing person has previously filed a statement on Schedule l3G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 

 
 
 

Cusip No.
36106P101

 
1.
Names of Reporting Persons.  I.R.S. Identification Nos. of above persons (entities only):
     
   
          Tyndall Capital Partners, L.P.
   
             13-3594570
     
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions):
 
(a)
              Not
 
(b)
          Applicable
     
 
3.
SEC Use Only
     
 
4.
Source of Funds (See Instructions):  WC
     
 
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e):
     
   
          Not Applicable
     
 
6.
Citizenship or Place of Organization:    Delaware
     
 
Number of
7.
Sole Voting Power:
13,872*
  
 
Shares Beneficially
8.
Shared Voting Power:
0  
 
 
Owned by
        
 
Each Reporting
9.
Sole Dispositive Power:
13,872*
  
 
Person With
10.
Shared Dispositive Power:
0  
 
           
     
 
11.
Aggregate Amount Beneficially Owned by Each Reporting Person:   13,872*
     
 
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
   
(See Instructions):               Not Applicable
     
 
13.
Percent of Class Represented by Amount in Row (11):      0.1%*
     
 
14.
Type of Reporting Person (See Instructions):       PN

*As of the date of filing of this Amendment No. 1 to Schedule 13D (the “Filing Date”), Tyndall Institutional Partners, L.P., a Delaware limited partnership (“Tyndall Institutional”), held 4,461 shares of the common stock, par value $0.001 per share (the “Shares”), of Furiex Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and Tyndall Partners, L.P., a Delaware limited partnership (“Tyndall Partners” and, together with Tyndall Institutional, the “Funds”), held 9,411 Shares.  As of July 15, 2011, Tyndall Institutional held 24,806 Shares and Tyndall Partners held 66,463 Shares.  Tyndall Capital Partners, L.P., a Delaware limited partnership (“Tyndall”), is the general partner of each of the Funds and possesses the sole power to vote and direct the disposition of all Shares held by the Funds.  Thus, for purposes of Reg. Section 240.13d-3, Tyndall is deemed to beneficially own an aggregate of 13,872 Shares, or 0.1 % of the Shares deemed issued and outstanding, as of the Filing Date, and is deemed to beneficially own an aggregate of 91,269 Shares, or 0.9% of the Shares deemed issued and outstanding, as of July 15, 2011.  The foregoing beneficial ownership percentages are based upon 9,881,340 Shares issued and outstanding as of April 30, 2011, as reported by the Company in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2011 (File No. 001-34641), filed with the Securities and Exchange Commission on May 3, 2011.
 
 
-2-

 
 
 
 
 
       This Amendment No. 1 (this “Amendment”) amends and supplements the Schedule 13D filed by Tyndall Capital Partners, L.P., a Delaware limited partnership (“Tyndall”), with the Securities and Exchange Commission on June 28, 2010 (the “Schedule 13D”).  The Schedule 13D, as amended by this Amendment, relates to the common stock, par value $0.001 per share (the “Shares”), of Furiex Pharmaceuticals, Inc., a Delaware corporation (the “Company”).  Except as specifically provided herein, this Amendment does not modify or amend any of the information previously reported in the Schedule 13D.  Any capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D.


Item 5.   Interest in Securities of the Issuer.

       Item 5 of the Schedule 13D is hereby amended by deleting it in its entirety and substituting the following in lieu thereof:
 
       Based upon information reported by the Company in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2011 (File No. 001-34641), filed with the Securities and Exchange Commission on May 3, 2011, there were 9,881,340 Shares issued and outstanding as of April 30, 2011.  As of the date of filing of this Amendment No. 1 to Schedule 13D (the “Filing Date”), Tyndall Partners held 9,411 Shares and Tyndall Institutional held 4,461 Shares, and as of July 15, 2011, Tyndall Partners held 66,463 Shares and Tyndall Institutional held 24,806 Shares.  Tyndall possesses the sole power to vote and direct the disposition of all Shares held by the Funds.  Thus, for purposes of Reg. Section 240.13d-3, Tyndall is deemed to beneficially own an aggregate of 13,872 Shares, or 0.1%, of the Shares deemed issued and outstanding, as of the Filing Date, and is deemed to beneficially own an aggregate of 91,269 Shares, or 0.9% of the Shares deemed issued and outstanding, as of July 15, 2011.

       Tyndall ceased to be the beneficial owner of more than five percent of the Shares on July 15, 2011.
 
       During the 60 days on or prior to July 15, 2011 and from July 15, 2011 to the Filing Date, the Funds entered into the open market purchases and sales of Shares set forth below
 
 
Entity
Date
Type of Transaction
Number of Shares
Security Type
Price Per Share ($)
(includes commissions)
Tyndall Partners
05/25/2011
Purchase
     3,861
 Shares
$             15.31
Tyndall Partners
05/25/2011
Sale
     3,539
 Shares
$             15.44
Tyndall Partners
05/25/2011
Sale
     3,861
 Shares
$             15.44
Tyndall Partners
06/17/2011
Sale
     10,000
 Shares
$             17.87
Tyndall Partners
07/15/2011
Short Sale
     1,132
 Shares
$             18.02
Tyndall Partners
07/18/2011
Sale
     1,500
 Shares
$             17.76
Tyndall Institutional
07/19/2011
Sale
     1,920
 Shares
$             18.01
Tyndall Institutional
07/19/2011
Sale
     4,100
 Shares
$             17.97
Tyndall Partners
07/19/2011
Sale
     4,200
 Shares
$             18.01
Tyndall Partners
07/19/2011
Sale
     20,900
 Shares
$             17.97
Tyndall Partners
07/20/2011
Sale
     1,200
 Shares
$             17.89
Tyndall Partners
07/21/2011
Sale
     2,294
 Shares
$             17.95
Tyndall Institutional
07/22/2011
Sale
     702
 Shares
$             17.73
Tyndall Institutional
07/25/2011
Sale
     1,732
 Shares
$             17.47
Tyndall Institutional
07/26/2011
Sale
     3,600
 Shares
$             18.04
Tyndall Partners
07/26/2011
Sale
     9,261
 Shares
$             18.04
Tyndall Partners
07/27/2011
Sale
     4,097
 Shares
$             17.95
Tyndall Partners
07/27/2011
Sale
     13,600
 Shares
$             17.97
Tyndall Institutional
07/27/2011
Sale
     1,900
 Shares
$             17.94
Tyndall Institutional
07/27/2011
Sale
     6,400
 Shares
$             17.97

 
 
-3-

 
 
 

 
       In addition, on July 15, 2011, the Funds delivered an aggregate of 591,118 Shares to cover short positions in the Shares.  Information regarding these transactions is as follows
 
 
Entity
Date of Short Sale
 Number of Shares
Security Type
Price Per Share ($)
(includes commissions)
Tyndall Partners
2/7/2011
500
Shares
$
16.83
Tyndall Institutional
2/7/2011
300
Shares
$
16.82
Tyndall Institutional
2/9/2011
1,775
Shares
$
16.81
Tyndall Partners
2/10/2011
675
Shares
$
16.79
Tyndall Institutional
2/10/2011
2,050
Shares
$
16.79
Tyndall Partners
3/8/2011
11,200
Shares
$
16.93
Tyndall Institutional
3/8/2011
2,731
Shares
$
16.93
Tyndall Partners
3/9/2011
2,737
Shares
$
17.00
Tyndall Partners
4/6/2011
2,287
Shares
$
16.83
Tyndall Institutional
4/6/2011
1,300
Shares
$
16.83
Tyndall Institutional
5/13/2011
123
Shares
$
14.91
Tyndall Partners
5/16/2011
301
Shares
$
14.96
Tyndall Partners
5/18/2011
4,900
Shares
$
14.51
Tyndall Institutional
5/18/2011
2,375
Shares
$
14.50
Tyndall Partners
5/19/2011
609
Shares
$
14.52
Tyndall Partners
5/20/2011
19,700
Shares
$
14.14
Tyndall Institutional
5/20/2011
9,500
Shares
$
14.14
Tyndall Partners
5/23/2011
19,400
Shares
$
14.11
Tyndall Institutional
5/23/2011
9,174
Shares
$
14.10
Tyndall Partners
5/24/2011
3,300
Shares
$
14.83
Tyndall Institutional
5/24/2011
1,564
Shares
$
14.83
Tyndall Partners
5/25/2011
238,000
Shares
$
15.46
Tyndall Partners
5/25/2011
2,300
Shares
$
15.93
Tyndall Institutional
5/25/2011
112,000
Shares
$
15.46
Tyndall Institutional
5/25/2011
1,000
Shares
$
15.93
 
 
-4-

 
 
 
 
 
 
 Entity
 
 
Date of Short Sale
 
 
 Number of Shares
 
 
 Security Type
    
Price Per Share ($)
(includes commissions)
Tyndall Partners
5/26/2011
2,600
Shares
$
16.71
Tyndall Institutional
5/26/2011
1,300
Shares
$
16.71
Tyndall Institutional
5/27/2011
4,519
Shares
$
16.97
Tyndall Partners
5/31/2011
11,251
Shares
$
16.99
Tyndall Partners
6/1/2011
2,428
Shares
$
16.94
Tyndall Institutional
6/1/2011
1,900
Shares
$
16.94
Tyndall Partners
6/2/2011
5,796
Shares
$
17.46
Tyndall Institutional
6/2/2011
2,700
Shares
$
17.46
Tyndall Partners
6/3/2011
3,527
Shares
$
18.11
Tyndall Institutional
6/3/2011
1,700
Shares
$
18.10
Tyndall Partners
6/6/2011
4,200
Shares
$
18.36
Tyndall Institutional
6/6/2011
1,920
Shares
$
18.36
Tyndall Partners
6/7/2011
5,304
Shares
$
18.95
Tyndall Institutional
6/7/2011
2,600
Shares
$
18.94
Tyndall Partners
6/8/2011
3,400
Shares
$
18.52
Tyndall Institutional
6/8/2011
1,516
Shares
$
18.52
Tyndall Partners
6/9/2011
1,900
Shares
$
18.91
Tyndall Partners
6/10/2011
1,300
Shares
$
18.66
Tyndall Institutional
6/10/2011
1,500
Shares
$
18.66
Tyndall Partners
6/13/2011
2,300
Shares
$
19.05
Tyndall Institutional
6/13/2011
1,100
Shares
$
19.05
Tyndall Partners
6/14/2011
4,500
Shares
$
19.08
Tyndall Institutional
6/14/2011
2,200
Shares
$
19.08
Tyndall Partners
6/15/2011
3,434
Shares
$
18.73
Tyndall Institutional
6/15/2011
1,600
Shares
$
18.73
Tyndall Partners
6/16/2011
5,801
Shares
$
18.67
Tyndall Institutional
6/16/2011
2,700
Shares
$
18.67
Tyndall Partners
6/17/2011
4,800
Shares
$
17.81
Tyndall Institutional
6/17/2011
2,300
Shares
$
17.81
Tyndall Partners
6/20/2011
2,454
Shares
$
17.19
Tyndall Institutional
6/20/2011
1,100
Shares
$
17.18
Tyndall Partners
6/21/2011
2,500
Shares
$
17.34
Tyndall Institutional
6/21/2011
1,100
Shares
$
17.34
Tyndall Institutional
6/22/2011
800
Shares
$
17.32
Tyndall Partners
6/23/2011
2,250
Shares
$
17.38
Tyndall Partners
6/24/2011
3,100
Shares
$
17.49
Tyndall Institutional
6/24/2011
1,499
Shares
$
17.49
Tyndall Institutional
6/24/2011
297
Shares
$
17.49
Tyndall Partners
6/27/2011
2,538
Shares
$
17.39
Tyndall Institutional
6/27/2011
1,200
Shares
$
17.39
Tyndall Partners
6/28/2011
1,383
Shares
$
17.43
Tyndall Partners
6/28/2011
617
Shares
$
17.43
Tyndall Institutional
6/29/2011
1,700
Shares
$
17.71
Tyndall Partners
6/30/2011
2,478
Shares
$
17.89
Tyndall Partners
6/30/2011
832
Shares
$
17.89
 
 
 
-5-

 
 
 
 
 
 
 
 Entity
 
 
Date of Short Sale
 
 
 Number of Shares
 
 
 Security Type
    
Price Per Share ($)
(includes commissions)
Tyndall Partners
7/1/2011
2,368
Shares
$
17.96
Tyndall Institutional
7/1/2011
1,900
Shares
$
17.96
Tyndall Partners
7/5/2011
1,600
Shares
$
18.34
Tyndall Partners
7/6/2011
2,300
Shares
$
18.28
Tyndall Institutional
7/6/2011
1,900
Shares
$
18.28
Tyndall Partners
7/7/2011
3,000
Shares
$
18.19
Tyndall Institutional
7/7/2011
1,300
Shares
$
18.19
Tyndall Partners
7/8/2011
2,802
Shares
$
17.75
Tyndall Institutional
7/8/2011
1,400
Shares
$
17.75
Tyndall Partners
7/11/2011
1,703
Shares
$
17.52
Tyndall Institutional
7/12/2011
400
Shares
$
17.56
Tyndall Partners
7/13/2011
1,600
Shares
$
17.90
Tyndall Institutional
7/13/2011
900
Shares
$
17.89
Tyndall Institutional
7/13/2011
200
Shares
$
17.89

 
 
       Other than the transactions described herein, during the 60 days on or prior to July 15, 2011 and from July 15, 2011 to the Filing Date, there were no purchases or sales of Shares, or securities convertible into, exercisable for or exchangeable for Shares, by Tyndall, the Funds, Mr. Halis or any person or entity controlled by them or him or any person or entity for which they or he possesses voting or investment control over the securities thereof.
 
 
 
 
 
 
 
 
-6-

 
 
 
 


Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


  Dated:  July 28, 2011
 
   
   
 
TYNDALL CAPITAL PARTNERS, L.P.
   
   
 
By:
/s/ Noah Levy
  
   
Noah Levy, Authorized Signatory
  
 


Attention:  Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

-7-