Major owner of Dipexium Pharmaceuticals, Inc. just declared owning 1,075,723 shares of Dipexium Pharmaceuticals, Inc.

West Asset Park, a major owner of Dipexium Pharmaceuticals, Inc., has just filed an initial statement of beneficial ownership where 1,075,723 shares of Dipexium Pharmaceuticals, Inc. were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Park. Park operates out of Larkspur, CA. Some additional info was provided as follows:

Park West Asset Management LLC (the "Reporting Person") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF"), and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI"). Peter S. Park ("Mr. Park") is the sole member and manager of the Reporting Person. As of the date of this re port, PWIMF held 953,465 shares of Common Stock $.001, par value per share (the "Common Stock"), of PLx Pharma Inc. (the "Company"), and PWPI held 122,258 shares of Common Stock. Pursuant to Reg. Section 240.16a-1(a)(2), the Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in such securities. The warrants contain a provision prohibiting exercise to the extent that the holder, together with its affiliates, would beneficially own in excess of 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to such exercise (subject to decrease upon written notice to the Company). As of the date of this report, PWIMF held warrants to purchase 902,528 shares of Common Stock, and PWPI held warrants to purchase 115,653 shares of Common Stock.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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