RA Capital Management reported liquidating its holdings in the Seattle medical-device company. In mid-December 2008, it held a 9.71% stake

RA Capital Management wrote to NSTR, urging the company to make a distribution or dividend to stockholders "as soon as possible." RA Capital continues "to be shocked and frustrated by the complete lack of response" to a letter it sent in July. Although RA Capital acknowledges some steps Northstar has taken to reduce expenses, it reiterates "that now is not the time for half-measures." RA Capital intends to pursue its interests "aggressively, both for our benefit and hopefully for the benefit of all stockholders, including preserving our right to take legal action against you and the company." RA Capital currently holds 2,539,139 shares (9.71% of the total outstanding).

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