Where the CEO of Ariad (Paris) landed:
Blackstone Life Sciences raises money to invest in late-stage therapies that might otherwise languish. The group’s 43 employees include Barry Gertz, former head of global clinical development at Merck (MRK), and Paris Panayiotopoulos, a former CEO of Ariad Pharmaceuticals.
Hope you didn't.....
did you hold for the $24 buy out, I sold long time ago
15K shares @ 7.50 made like $12k thought I was the man lol
I should have held
but I am not a long investors
just a swing-ding-a-ling
Denner in action again: Bought more Biogen..
Dr. Denner started Sarissa Capital Management in 2012 after working as a healthcare portfolio manager at Icahn Capital. As of its Q3 2018 13-F filing, the fund had a concentrated portfolio worth $453.36 million, with more than 36% of its assets in Biogen. The fund also held positions in Innoviva (NASDAQ:INVA) and Allergan (NYSE:AGN). Dr. Denner also serves as the Chairman of the Board at The Medicines Company (NASDAQ:MDCO).
Jess, this was a bad call. Don nailed it..
Alex Denner does it again:
Clive Meanwell gives way to new CEO as activist investor Alex Denner shakes up The Medicines Company – Endpoints News
Alex is golden..
Takeda R&D team rings the blockbuster bell with key PhIII success in frontline lung cancer.
This is the Ariad compound for NSCLC, Brigatinib. Well done Ariad’s scientists!
by john carroll — on July 25, 2018 09:11 AM EDT
Takeda R&D chief Andy Plump hit the money shot with a head-to-head Phase III study pitting Alunbrig (brigatinib) against Pfizer’s Xalkori in a group of ALK+ non-small cell lung cancer patients.
Researchers say their drug hit the primary endpoint on progression-free survival. Currently not approved for frontline use, the drug was tested in patients who had not yet received an ALK inhibitor.
Approved last April for treatment-resistant cases of ALK+ NSCLC, Takeda has been pursuing evidence that their drug can garner more than a billion dollars a year in sales, a stretch above the $500 million to $800 million mark that analysts have projected. And now they plan to hustle up a supplemental approval to help make that forecast a reality.
Takeda acquired the drug in the $5.2 billion Ariad buyout, making this a particularly important win for the R&D team. Now in the process of acquiring Shire, Takeda’s growing oncology group is centered around Boston/Cambridge.
We’ll get the data at an upcoming meeting, which should provide greater clarity on the market potential. While NSCLC is quite common, ALK mutations account for about 3% to 5% of the patient population.
Jesús Gomez-Navarro, Takeda’s head of oncology clinical research and development, noted that they were encouraged by the data and “look forward to beginning discussions with regulatory authorities as we seek to expand Alunbrig’s indication into the frontline setting.”
Biotech activist Alex Denner’s next target: Ironwood Pharma
Ironwood Pharmaceuticals told shareholders Monday that it's learned biotech activist investor Alex Denner of Sarissa Capital is seeking to join its board.
Read more: https://www.cnbc.com/2018/04/09/biotech-activist-alex-denners-next-target-ironwood-pharma.html
Alex does it again!
Spring Bank Pharmaceuticals Appoints Timothy Clackson, Ph.D., to its Board of Directors | Markets Insider
Activist Alex Denner to gain board control at Medicines Company
Meg Tirrell | @megtirrell
Published 3 Hours Ago Updated 2 Hours Ago
Medicines Company is restructuring its board, cutting to 7 members from 12.
More than half of the smaller slate has ties to activist investor Alex Denner of Sarissa Capital.
Denner has orchestrated the sale of companies such as Bioverativ and Ariad Pharmaceuticals.
Biotech firm the Medicines Company said it's restructuring its board to just seven members from the current 12. More than half of the smaller slate is affiliated with activist investor Alex Denner of Sarissa Capital.
Medicines Company shares jumped more than 4 percent on the news.
The seven directors to be nominated for election at this year's annual shareholder meeting are Denner, company Executive Chairman Fredric Eshelman, Geno Germano, John Kelly, CEO Clive Meanwell, Paris Panayiotopoulos and Sarah Schlesinger, Medicines Company said in its annual report on Thursday. The company didn't publicize the proposed changes further.
Germano, Panayiotopoulos and Schlesinger have all been involved with other companies Denner's invested in, two of which Denner – a Carl Icahn protege – ultimately orchestrated the sale of: Bioverativ and Ariad Pharmaceuticals.
"As a result of the rapid and significant evolution our business and the narrowing of our operational focus onto inclisiran, our board of directors determined to restructure the board, adding directors with relevant expertise and experience and reducing the board's overall size from twelve to seven members, providing a more agile and efficient structure," the company said in its 10-K filing. Inclisiran is an experimental cholesterol drug in the company's pipeline.
The five directors not included in the new slate are William Crouse, Elizabeth Wyatt, Melvin Spigelman, Hiroaki Shigeta and Armin Kessler.
Neither the Medicines Company nor Denner immediately responded to requests for comment.
Denner's Sarissa Capital owned 2.6 percent of the Medicines Company's shares as of Dec. 31, regulatory filings show. The fund, which specializes in pharmaceuticals and biotechnology investments and shareholder activism, first purchased Medicines Company shares in March 2015 at a cost of $27.53 per share, according to FactSet data.
Medicines Company has a market value of just more than $2 billion. It reported 2017 revenue of $44.8 million from the approved drug Angiomax, a blood thinner.
The company's main focus is the experimental medicine inclisiran, in a category of cholesterol drugs known as PCSK9 inhibitors. Two are already on the market, from Amgen and Regeneron, partnered with Sanofi. Early sales have disappointed, though some key data are expected this month on Regeneron and Sanofi's drug, Praluent, that investors hope could spur sales. Inclisiran is designed to have to be injected less frequently than the already marketed products.
Denner came to prominence working with Icahn on a number of biotech investments that resulted in sales, including ImClone Systems to Eli Lilly in 2008 for $6.5 billion, and Genzyme to Sanofi in 2011 for $20.1 billion.
Denner split with Icahn in 2012 to form Sarissa. In January 2017, he orchestrated the sale of biotech company Ariad to Japanese drugmaker Takeda, for $5.2 billion. Panayiotopoulos was CEO of Ariad and Schlesinger was a director.
In November, Denner helped facilitate the sale of hemophilia drug maker Bioverativ, for $11.6 billion, to Sanofi, a little more than a year after the company was spun out of Biogen, of which Denner is a director. Germano was a director of Bioverativ.
Sarissa also holds stakes in AbbVie, Biogen and Innoviva, among other drug companies. It added stakes in Allergan, Intercept Pharmaceuticals and Ironwood Pharmaceuticals at the end of 2017, according to a regulatory filing.
Denner is a biotech rockstar:
The lofty premium would represent a win for Bioverativ shareholders, including activist hedge-fund manager Alex Denner of Sarissa Capital Management LP, who sits on the boards of Bioverativ and Biogen. A deal for Bioverativ would come a year after Ariad Pharmaceuticals agreed to sell itself to Takeda Pharmaceutical Ltd. for $4.7 billion, or a roughly 75% premium to where Ariad was trading before the deal. Mr. Denner was Ariad's chairman at the time.
It's official. Shire takes over Ariad's 230,000 sq ft in Kendall Square:
Met a Takeda rep at a conference held at National Harbor, D.C. suburbs, last weekend....he "insisted" Takeda paid too much for ARIA, but he acknowledged my satisfaction with a 10x LTCG from basis.
just read it today
i knew the price was WAY to low
$32 - $45 was always may takeover target
I suppose that after Trump's Tweets the word "sad" can't be used without irony, but this is sad in the pre-Trumpian sense of the word. A huge upheaval for each individual and family involved, but I agree that they should have a good shot at quick re-employment. I certainly hope so.
the 150ish employees will easily find jobs in that market, especially the biotech legal folks lol
Question answered. Cash = $24/share hit our IRA this weekend.
Amen brother. Best wishes my friend.
is that Japanese for aria who knows, looks like its lights out here, this was a great board going to miss it. thanks guys for all the support here as those who stayed got paid for all pain and suffering. on to the stem cell sector!
DID ARIA SYMBOL CHANGE?
AF underestimated the value of Brigatinib. If it is BIC and takes half the market it will be a billion dollar drug. But several years ago AF was correct about Ponatinib's side effects while Harvey was denying his reporting.
I criticized Ariad Pharmaceuticals (ARIA) for jacking up the price of Iclusig and questioned the sanity of those who believe the lung cancer drug brigatinib is anything more than a me-too late comer. Still, Ariad's share price almost doubled in value in 2016, mainly on takeout speculation. Ouch! My grade: Incomplete (because I still don't believe Ariad will be acquired.)
- Adam Feuerstein, Dec. 22, 2016
I need your opinion on ADXS. I'm thinking of starting a position there and I trust your investment knowledge. Any thoughts?
Takeda Completes Acquisition of ARIAD Pharmaceuticals, Inc.
IT'S ALL DONE. THANKS
CAMBRIDGE, Mass. & OSAKA, Japan--(BUSINESS WIRE)--
Takeda Pharmaceutical Company Limited (TSE:4502) (“Takeda”) today announced the completion of its acquisition of ARIAD Pharmaceuticals, Inc. (ARIA) (“ARIAD”) for $24.00 per share in cash.
“We are very pleased to have completed the acquisition of ARIAD Pharmaceuticals. The addition of ARIAD’s innovative targeted therapies and research and development capabilities strengthens and diversifies our oncology business, positioning Takeda for sustainable long-term growth in this priority therapeutic area,” said Christophe Weber, president and chief executive officer of Takeda. “We are particularly excited by the global potential of brigatinib, an investigational drug product, which we believe will become a best-in-class ALK inhibitor for non-small cell lung cancer with the potential to achieve peak annual sales of over $1 billion. We are also impressed with the swiftness and agility of Takeda and ARIAD employees as they have planned for a successful integration while remaining focused on strategic goals. This bodes very well for the future of our combined business, and we look forward to building on this strong start to maximize the benefit of Iclusig® (ponatinib) and potential of brigatinib for cancer patients.”
“The acquisition of ARIAD is transformational for Takeda Oncology. Iclusig enhances our strong position in hematology in the U.S., and brigatinib has the potential to broaden our solid tumor franchise globally,” said Christophe Bianchi, president of Takeda Oncology. “There is a strong cultural fit between our two companies, with a shared mission to advance innovative therapies to improve the lives of patients with cancer. We have been working together over the past month to plan for a smooth integration of our businesses and we will work closely with regulatory authorities on our brigatinib market authorization submissions.”
Takeda continues to expect the transaction to be accretive to Underlying Core Earnings by FY2018. Strong revenue growth and synergy savings will offset increased sales and marketing costs for the anticipated brigatinib launch.
Tender Offer Details
Takeda completed the acquisition through a tender offer and subsequent merger of ARIAD with Kiku Merger Co., Inc., a wholly owned subsidiary of Takeda Pharmaceuticals U.S.A. ARIAD is now an indirect wholly owned subsidiary of Takeda.
I went heavily into ADXS after reviewing where the company is in relation to Aria when bought out. I also put small positions in ARRY and plan AUPH when it drops again.
Not sure why it was halted. ARIA just filed the form 25 which basically says Deal is done, securities withdrawn from trading on the exchange.
Where are people putting profits from ARIA?
ARIA halted - Nasdaq "requesting information"
I have no clue what this could mean. For normal completion of the buyout Nas would not need anything - the stock would just cease trading.
Perhaps there is still a good sized short position to be settled?
So what's next? Do they make a statement regarding the completion of the acquisition and when do we expect funds to be available in our accounts?
And one last question, what other investments would you guys recommend? I got in and out of MDCO because of a recommendation here thinking I had a good move and it still continues to rise. I got out too early I guess.
nsomniyak, you're correct. I was trying to come up with an example. The May 19, $24 calls also are around the same price with a much greater open interest. Good catch.
Interesting thought. That would make sense. However, the open interest in March calls is very very low - nowhere near enough to cover the volume of shares short as of 1/31/17.
longx, perhaps they're shorting at $23.89 (as I type)and purchasing a March 10, $24.00 call for $0.05 max. It costs the $0.15 or less per share and if the deal falls through they're looking at perhaps a $12 to $15 homerun.
I'm not doing it, but I can see someone taking a shot.
What a surprise! short Interest increased by 2 mil shares
1/31/2017 25,348,200 11,635,799 2.178467
1/13/2017 23,605,983 32,042,457 1.000000
Someone is betting on the possibility of Takeda to back out from the deal and share price will drop to the mid-teeen.
For those of you are still holding shares for the cash out, perhaps you should buy some dirty cheap March17 puts to protect your investment gain.
Read more: http://www.nasdaq.com/symbol/aria/short-interest/
$ARIA I CASHED IN MY PROFITS FOR A NICE 210% & MY OTHERS ARE LOOKING GOOD TOO.
GOOD LUCK TO ALL. EVERYONE IS A WINNER HERE.
News for 'ARIA' - (DJ Drug Makers' Patient Assistance Under Scrutiny -- Market Talk)
16:10 - The US Attorney's office in Boston continues to explore drug companies providing financial assistance to help patients pay for their drugs. Celgene (CELG), Regeneron (REGN) and Mallinckrodt (MNK) have separately disclosed in SEC filings this week of receiving subpoenas from the office in recent months seeking documents related to their patient-assistance efforts. The companies say they are cooperating. Other companies previously disclosing similar federal subpoenas have included Biogen (BIIB), Ariad (ARIA) and Valeant (VRX). (email@example.com; @Loftus)
(END) Dow Jones Newswires
February 10, 2017 16:10 ET (21:10 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.- - 04 10 PM EST 02-10-17
No idea what this is about. Sounds like a procedural issue....
The name ARIAD originates from the Greek myth of Ariadne, a daughter of Minos II, king of Crete. According to the myth, Ariadne fell in love with Theseus and gave him a spool of thread that enabled him to trace his path safely in and out of the labyrinth in which the Minotaur lived.
After slaying the Minotaur, Theseus used the spool of thread to successfully return home. From ARIAD's perspective, the labyrinth symbolizes the complex system of molecular pathways within the cell, and the spool of thread represents the signaling pathways that are leading our scientists to the discovery of breakthrough cancer therapies.
ARIA charts here.