Unigene's stock, which trades on the Pink Sheets under the symbol UGNE, closed at 7 cents on April 5. It was trading at 5 cents midday on Monday. Activist investor Wynnefield Capital Inc. held an almost 7.2% stake in Unigene's stock as of Dec. 31, according to data provider Thomson Reuters. Wynnefield couldn't be reached for comment Monday.

Victory Park holds 10% of the company's outstanding stock, SEC filings said.

Richard Levy, the founder of Victory Park Capital, who serves as the chairman of the board of directors for Unigene, couldn't be reached for comment Monday.

Written by Jamie Mason in New York

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