Monday, July 28, 2014 5:15:51 PM
$KBIO..$1.61 in AH. Been watching this one here for a while & was trying to buy in at cash since company has $1.90 cash per share so $1.91 seemed like the sweet spot to me. The news not so fortunate & was not good with SNY being a big player.
The good news is the catalyst is bumped up from Q2 to Q1. The company has 63m in cash and the market cap with price AH is close to 60m. Not sure what I am going to do with my position here. This kind of timing does not happen frequently (knock on wood). Will see how it trades tomorrow. Down 15% here at $1.60
NEWS BELOW
4:02 pm KaloBios Pharma (halted) provides update on KB001-A partnership and clinical status; regains global rights to KB001-A from Sanofi Pasteur (SNY); announces completion of enrollment in KB001-A Phase 2 cystic fibrosis study (KBIO) :
•Co announced that it has reached an agreement with Sanofi Pasteur to regain all rights to co's KB001-A program. Under this agreement, the collaboration and licensing agreement entered into in 2010 has been terminated. Under that collaboration agreement, Sanofi Pasteur had been developing KB001-A, a patented monoclonal antibody targeting Pseudomonas aeruginosa (Pa), for Pa pneumonia prevention in the intensive care setting while co had been developing KB001-A for chronic treatment of Pa lung infections in cystic fibrosis (CF) patients.
•Sanofi Pasteur agreed to terminate the collaboration and licensing agreement with co in consideration of low single digit royalties on net sales of KB001-A, subject to a $40 mln cap on the aggregate royalties to be paid. In addition, Sanofi Pasteur will be entitled to receive up to 10% of certain sub-license payments or other milestone payments received in the event co successfully re-partners KB001-A, subject to a separate $40 mln cap on the aggregate amount of sub-license payments to be shared with Sanofi Pasteur.
•Co also announced that it has achieved full enrollment in the 180 patient Phase 2 study evaluating KB001-A in CF subjects with chronic Pa lung infection. Co now expects to release top-line data on this study in early first quarter 2015.
•Co had previously completed a Phase 1/2 study with KB001 in thirty-five patients colonized with Pa which demonstrated approximately a 50% reduction in VAP in patients treated with KB001. The study also showed a dose-dependent increase in bacterial event-free survival relative to placebo.
The good news is the catalyst is bumped up from Q2 to Q1. The company has 63m in cash and the market cap with price AH is close to 60m. Not sure what I am going to do with my position here. This kind of timing does not happen frequently (knock on wood). Will see how it trades tomorrow. Down 15% here at $1.60
NEWS BELOW
4:02 pm KaloBios Pharma (halted) provides update on KB001-A partnership and clinical status; regains global rights to KB001-A from Sanofi Pasteur (SNY); announces completion of enrollment in KB001-A Phase 2 cystic fibrosis study (KBIO) :
•Co announced that it has reached an agreement with Sanofi Pasteur to regain all rights to co's KB001-A program. Under this agreement, the collaboration and licensing agreement entered into in 2010 has been terminated. Under that collaboration agreement, Sanofi Pasteur had been developing KB001-A, a patented monoclonal antibody targeting Pseudomonas aeruginosa (Pa), for Pa pneumonia prevention in the intensive care setting while co had been developing KB001-A for chronic treatment of Pa lung infections in cystic fibrosis (CF) patients.
•Sanofi Pasteur agreed to terminate the collaboration and licensing agreement with co in consideration of low single digit royalties on net sales of KB001-A, subject to a $40 mln cap on the aggregate royalties to be paid. In addition, Sanofi Pasteur will be entitled to receive up to 10% of certain sub-license payments or other milestone payments received in the event co successfully re-partners KB001-A, subject to a separate $40 mln cap on the aggregate amount of sub-license payments to be shared with Sanofi Pasteur.
•Co also announced that it has achieved full enrollment in the 180 patient Phase 2 study evaluating KB001-A in CF subjects with chronic Pa lung infection. Co now expects to release top-line data on this study in early first quarter 2015.
•Co had previously completed a Phase 1/2 study with KB001 in thirty-five patients colonized with Pa which demonstrated approximately a 50% reduction in VAP in patients treated with KB001. The study also showed a dose-dependent increase in bacterial event-free survival relative to placebo.
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