This Biotech Is Up 194% in a Year but One Investor Took Millions Off the Table

Company Overview - Indivior PLC is a specialty pharmaceutical company focused on treating opioid use disorder and related behavioral health conditions, utilizing a diverse portfolio of proprietary therapies and innovative pipeline assets [1] - The company primarily generates revenue through the sale of branded pharmaceutical products, particularly long-acting injectable therapies and sublingual formulations targeting opioid use disorder [2] Financial Performance - In the third quarter, Indivior reported $314 million in revenue, with SUBLOCADE sales increasing by 15% year over year to $219 million, contributing to a 14% rise in adjusted EBITDA to $120 million [5] - Management has raised the full-year 2025 revenue guidance to between $1.18 billion and $1.22 billion, with adjusted EBITDA projected to reach up to $420 million, alongside a plan for at least $150 million in annual operating expense savings starting next year [5] Stock Performance - As of the latest report, Indivior shares were priced at $36.21, reflecting a significant increase of 194% over the past year, outperforming the S&P 500, which rose about 15% during the same period [3] Investor Activity - Stonepine Capital Management sold 250,000 shares of Indivior during the third quarter, resulting in a decrease in the fund's position value by approximately $2.75 million, leaving them with 100,000 shares valued at $2.41 million at quarter-end [4] - The sale appears to be a strategic decision rather than a lack of confidence, as Indivior still represents a meaningful exposure in Stonepine's portfolio relative to other biotech names [6]