Biotech Values

[ghmm]

Cubist Pharmaceuticals to Acquire Adolor

http://finance.yahoo.com/news/Cubist-Pharmaceuticals-to-bw-4018676031.html?x=0&.v=1

Didn't see this one coming. Nice premium too!

4.25 per share in cash, or approximately $190 million on a fully-diluted basis, net of Adolor’s third quarter 2011 cash balance. In addition to the upfront cash payment, each Adolor stockholder will receive one Contingent Payment Right (CPR), entitling the holder to receive additional cash payments of up to $4.50 for each share they own if certain regulatory approvals and/or commercialization milestones for ADL5945 are achieved. The total transaction is valued at up to $415 million, net of Adolor’s third quarter 2011 cash balance, and is expected to be accretive in 2012.