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OSUR @2.53 Medical Instruments. $2.16 52 week, Q1L-2009 and all time low. $70M+ cash.
FDA today asked for more testing on one of their products, stock took about -35% hit. Company has other products in the pipeline. Projected growth is good but certainly this company hit a bump in the road today, how big is the bump I am not sure. I just found this one so not much DD on my part but could be worth a look.
mex, td, tzm; TKPHY.pk Takeda.
IDMI did not work out for us, the "numbers" where there!, but not the right buyer.
Mex, you hit the nail on the head, good job, "they" did not think Mepact would generate the revenues. At least cancer patients will get access to Mepact et. al. in the future.
OT: EXH Exterran Holdings @$14.91 ($75.42-11.97 52 wk h/l). Natural gas compressor, oil and gas equipment, et. al. Our "friend" Hugo in Venezuela just nationalized EXH's compressors et. al. Seth Klarman- Baupost Group hedge fund- is into EXH. Seth has an amazing track record. See Seeking Alpha article under EXH on Yahoo. Also Primecap (Vanguard) is into this. Keep on eye on this one.
Best to you all and good luck. bow
IHMO it is over. If something was going to happen it would have happened by now and it didn't. Obviously PA tendered their shares and that was the key. Once Takeda gets >90% of IDM common the deal will close.
As I read it (2) is one of the conditions in which each of the remaining outstanding shares of IDM common stock ... will NOT be automatically cancelled and converted into the right to receive the same US$2.64 per share as was paid in the tender offer, but I am not really sure.
"Pursuant to the merger, each remaining outstanding share of IDM common stock ... will be automatically cancelled and converted into the right to receive the same US$2.64 per share as was paid in the tender offer ...
other than ...
2) any shares held by a holder who has not voted in favor of or
consented to the merger and
who has properly demanded and perfected his, her or its right to be paid the fair value of such shares in accordance with Delaware law"
So if the shareholder has "not voted in favor of" or "consented to the merger" and "properly demanded and perfected his, her or its right to be paid the fair value of such shares in accordance with Delaware law," his/her IDM shares will NOT be automatically converted and sold at the $2.64 price.
Yet I do not really know what (2) means is because I do not know what they mean by "who has properly demanded and perfected his, her or its right to be paid the fair value of such shares in accordance with Delaware law." Are they referring to par value of the common stock or the $2.64 offer price?
Interesting that according to the terms of the offer, it was not successful, i.e. they did not get over 90% of the stock, but looks like Takeda is doing everything they can to close the deal.
This is just my own opinion.
IDM should have sold for $16.56 a share. Thank you for sharing this tzm. Filing looks like an attempt to show Walbert and B of D in "good faith" made the best deal the IDM shareholders, kind of a CYA. It does appear that one lawsuit was settled and another withdrawn, but apparently without prejudice, which means the plaintiff could re-file it.
If I am reading this document right, this is the first figures put forth projecting costs/revenue/EBITDA for Mepact in the EU. Their figures prove <$68M for IDM at $2.64 a share is a crime.
The est. for revenue from 2009 to 2013, five years is: $138M. Thus using x3 revs for next five years IDM should have sold for $414M; at 25M shares= $16.56 a share!
Furthermore what is amazing are the EBITDA est. in millions:
2009: $(23)
2010: (7)
2011: 7
2012: 28
2013: 33
2014: 35
2015: 37
2016: 41
2017: 43
2018: 45
2019: 49 it goes on but I am stopping here.
Thus projected EBITDA for next tens years in EU alone is: $288M!
From 2009 to 2013, five years is: $38M.
Thank you. This was not the result I was looking for re: the sale of IDM, but thats life in the big city. GLTU
You need to consult your broker, I can not give you legal advise.
As I read it, if Takeda acquires 90% of IDM shares in the "tender" offer, the Merger Agreement with IDM with is "successful."
If the Merger takes place (and you still have shares of IDM) "your Shares will be automatically canceled and converted into the right to receive the Offer Price ... ." This is on page 6 of the "Offer To Purchase For Cash All Outstanding Shares of IDM."
Please read this for yourself. This just my own opinion.
They said OK, fine and asked if I wanted their phone number to call them, which I responded no. And that was it.
Someone representing themselves as working for IDM called me twice today to ask if I have accepted the tender offer. I told them it was none of the business. You are right, Takeka wants this deal real bad. They know they are stealing IDM at $2.64 a share.
5/27/09- John Paulson, has started to place some very big bets on gold.
Paulson has become one of the most closely followed hedge fund managers.
Paulson’s firm said it had $2.8 billion in SPDR Gold Trust (NYSE:GLD) and $638 million in Market Vectors Gold Miners ETF (NYSE:GDX).
It also had taken 2.6%, 4.4%, and 11.3% stakes in gold mining companies Goldfields (NYSE:GFI), Kinross Gold (NYSE:KGC), and Anglogold Ashanti (NYSE:AU) respectively.
5/27/09- John Paulson, has started to place some very big bets on gold.
Paulson has become one of the most closely followed hedge fund managers.
Paulson’s firm said it had $2.8 billion in SPDR Gold Trust (NYSE:GLD) and $638 million in Market Vectors Gold Miners ETF (NYSE:GDX).
It also had taken 2.6%, 4.4%, and 11.3% stakes in gold mining companies Goldfields (NYSE:GFI), Kinross Gold (NYSE:KGC), and Anglogold Ashanti (NYSE:AU) respectively.
You are right. Time will tell. In the information I received from my broker re: IDM tender offer it says "offer expires: June 22, 2009."
Yes. Finally closed at $2.64.
Very interesting! Perhaps Takeda will sweeten the deal. Thanks for sharing that TD.
What I can not understand is, with EMEA approval for Mepact, that IDM is fair valued only at <$67M?! So maybe some of your friends post makes sense. (DNDN at about $23 has a $2.51B market cap?!, and as far as I can see that is a wing and pray at these prices).
I am bewildered. As I posted before, BoD and executive management put IDM behind the eight ball and Takeda is closing this deal as fast as they can. They know they are stealing this company.
I hope your friend is right! GLTU
Actually, my math is wrong: it is only a 22% potential increase, not 29%, sorry
So it should read:
Yahoo has JBLU's outstanding shares at about 273M. Plus 23M new shares and the $175M convertible debentures (at $4.89 a share) could be converted into 35.79M more shares.
Thus: 273M+ 23M+ 35.79M= about 332M shares outstanding. So about 59M new shares or about +22% of the original 273M outstanding shares. JBLU at $4.29 -$0.94 (22% of $4.29)= $3.35.
Of course the only sure thing right now is that there will be a 23M share increase to 296M common shares outstanding for JBLU, or an 8.5% increase from the current 273M. Who knows if the bond holders will convert there bonds to common stock.
Sorry for the confusion.
JetBlue Announces Pricing of 23,000,000 Shares of Common Stock and $175,000,000 of Convertible Debentures
Yahoo has JBLU's outstanding shares at about 273M. Plus 23M new shares and the $175M convertible debentures (at $4.89 a share) could be converted into 35.79M more shares.
Thus: 273M+ 23M+ 35.79M= about 332M shares outstanding. So about 59M new shares or about +29% of the original 273M outstanding shares. JBLU at $4.29 -$1.24 (29% of $4.29)= $3.05. Thus we could see new 52 week lows under $2.81.
On Wednesday June 3, 2009, 8:46 pm EDT
- Previously announced share and convertible debenture offerings increased
NEW YORK, June 3 /PRNewswire-FirstCall/ -- JetBlue Airways Corporation (Nasdaq: JBLU - News) announced today that it has increased its previously announced offering of 20,000,000 shares of common stock to 23,000,000 shares of common stock at a price of $4.25 per share. Of the 23,000,000 shares of common stock, it is expected that Deutsche Lufthansa AG (Lufthansa) will purchase 3,578,800 shares in the public offering. JetBlue also announced that it increased its previously announced offering of convertible debentures from $150 million to $175 million aggregate principal amount, divided into $100 million of 6.75% convertible debentures due 2039 (the series A debentures) and $75 million of 6.75% convertible debentures due 2039 (the series B debentures). The issuance of the common stock and the sale of the convertible debentures is expected to close on June 9, 2009, subject to various customary closing conditions. Neither of these offerings is contingent upon the closing of the other offering.
Both series of debentures will be convertible into shares of JetBlue's common stock at a conversion rate of 204.6036 shares per $1,000 principal amount of debentures (which is equivalent to a conversion price of approximately $4.89 per share), subject to adjustment. Both series of debentures are subject to redemption on or after certain dates and repurchase on certain specified dates and following certain designated events. Both series of debentures will bear interest at a rate of 6.75% per annum, payable on April 15 and October 15 of each year, beginning October 15, 2009.
JetBlue has granted the underwriter for the common stock offering a 30-day over-allotment option to purchase up to an additional 3,450,000 shares of common stock (less any shares purchased by Lufthansa pursuant to its option described below). JetBlue has granted the underwriters for the debenture offering a 30-day over-allotment option to purchase up to an additional $15 million principal amount of the series A debentures and $11.25 million principal amount of the series B debentures. JetBlue has also granted Lufthansa an option to purchase up to 15.6% of the shares JetBlue would otherwise have provided to the underwriter as part of its over-allotment option, but only to the extent the underwriter exercise that option.
Morgan Stanley & Co. Incorporated served as sole book-running manager for both offerings and Goldman, Sachs & Co. and J.P. Morgan Securities Inc. served as co-managers for the debenture offering.
JetBlue intends to use the proceeds from these offerings for general corporate purposes.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
http://stockcharts.com/charts/gallery.html?JBLU
I would not be surprised to see a test of the $2.81 low. P&F chart has $2.00 price target.
GLTU
JBLU Institutional ownership Q1-2009
http://www.nasdaq.com/asp/holdings.asp?symbol=JBLU&selected=JBLU&FormType=Institutional
As we can see from this information, the top four institutional holders of JBLU, including FMR and Primecap, all ADDED shares in Q1-2009, when the stock hit an all time low of $2.81.
This post for informational purposes only.
UC San Francisco unveils $135 million cancer research center
By Sandy Kleffman
Contra Costa Times
Posted: 06/02/2009 09:22:17 PM PDT
Updated: 06/03/2009 06:27:16 AM PDT
SAN FRANCISCO — UC San Francisco opened a new $135 million cancer research center Tuesday where scientists hope to develop promising therapies and find better ways to diagnose and prevent disease.
The five-story, 163,000-square-foot structure will more than double the amount of laboratory space devoted to cancer research at UCSF.
It will house 250 researchers working in 33 laboratories, and will eventually expand to 400 researchers.
Those who attended the grand opening of the Helen Diller Family Cancer Research Building got a sneak preview of the future of personalized medicine and what leading experts hope to accomplish in their battle against cancer.
"We are deeply grateful for giving us the opportunity to work under one roof, and my vow to you is that we're going to make an impact on this disease," said Dr. Mitchel Berger, director of the UCSF Brain Tumor Research Center.
Like many of the university's cancer specialists, those working on brain tumors have been separated in three buildings in various locations in San Francisco.
Bringing them together in one spot on the Mission Bay campus will enable them to work collaboratively with one another and the thriving biomedical community in the area, said Frank McCormick, director of the cancer center.
UCSF also plans to build a 289-bed medical center nearby that would open in 2014. It would include a cancer specialty hospital, as well as facilities devoted to women and children.
Having physicians working side-by-side with scientists and clinical researchers should help speed transforming laboratory findings into improved patient care, McCormick said.
The cancer center is named after Bay Area resident Helen Diller, who donated $35 million. All told, the university raised $81.5 million in private funding for the center and financed the rest with its own resources.
For the opening ceremonies, UCSF organized a panel discussion among experts, including J. Craig Venter, who led the team that sequenced the human genome.
Venter predicted that a time is coming when scientists will decode the genetic makeup of thousands of patients and use that information to make decisions about effective treatments, drugs and the proper dosages for each person.
"It's not surprising at all that all drugs don't work on everybody," he said, given how genetic makeup varies from person to person.
As an example of such personalized medicine, Dr. Susan Desmond-Hellmann cited Herceptin, a breast cancer drug. She led the team that helped bring Herceptin to market as the former president of product development at Genentech. She will soon become the new chancellor of UCSF, replacing Dr. J. Michael Bishop.
In the early 1990s, Desmond-Hellmann said, she knew that women who had breast cancer and a certain genetic makeup had a shortened life expectancy compared with other women with breast cancer. But she had no specialized treatments to offer them.
Herceptin has shown success by targeting the HER2 gene in these women. Scientists can now tell which women are likely to benefit from the drug and which are not, she said. Thus physicians can avoid giving the drug to everybody and having some suffer the side effects without receiving any benefit.
Genetic information could also help with prevention. If people know they have a makeup that increases their susceptibility to a certain kind of cancer, Venter said, there may be steps they can take to help prevent it. In the long run, he added, that could help control health care costs.
But as patients gain more knowledge, McCormick emphasized, health leaders will need to help them interpret what it all means and how they should respond.
"It's really awful to know you're at high risk of disease and there is nothing you can do about it," he said.
Reach Sandy Kleffman at 925-943-8249 or skleffman@bayareanewsgroup.com.
UC San Francisco unveils $135 million cancer research center
By Sandy Kleffman
Contra Costa Times
Posted: 06/02/2009 09:22:17 PM PDT
Updated: 06/03/2009 06:27:16 AM PDT
SAN FRANCISCO — UC San Francisco opened a new $135 million cancer research center Tuesday where scientists hope to develop promising therapies and find better ways to diagnose and prevent disease.
The five-story, 163,000-square-foot structure will more than double the amount of laboratory space devoted to cancer research at UCSF.
It will house 250 researchers working in 33 laboratories, and will eventually expand to 400 researchers.
Those who attended the grand opening of the Helen Diller Family Cancer Research Building got a sneak preview of the future of personalized medicine and what leading experts hope to accomplish in their battle against cancer.
"We are deeply grateful for giving us the opportunity to work under one roof, and my vow to you is that we're going to make an impact on this disease," said Dr. Mitchel Berger, director of the UCSF Brain Tumor Research Center.
Like many of the university's cancer specialists, those working on brain tumors have been separated in three buildings in various locations in San Francisco.
Bringing them together in one spot on the Mission Bay campus will enable them to work collaboratively with one another and the thriving biomedical community in the area, said Frank McCormick, director of the cancer center.
UCSF also plans to build a 289-bed medical center nearby that would open in 2014. It would include a cancer specialty hospital, as well as facilities devoted to women and children.
Having physicians working side-by-side with scientists and clinical researchers should help speed transforming laboratory findings into improved patient care, McCormick said.
The cancer center is named after Bay Area resident Helen Diller, who donated $35 million. All told, the university raised $81.5 million in private funding for the center and financed the rest with its own resources.
For the opening ceremonies, UCSF organized a panel discussion among experts, including J. Craig Venter, who led the team that sequenced the human genome.
Venter predicted that a time is coming when scientists will decode the genetic makeup of thousands of patients and use that information to make decisions about effective treatments, drugs and the proper dosages for each person.
"It's not surprising at all that all drugs don't work on everybody," he said, given how genetic makeup varies from person to person.
As an example of such personalized medicine, Dr. Susan Desmond-Hellmann cited Herceptin, a breast cancer drug. She led the team that helped bring Herceptin to market as the former president of product development at Genentech. She will soon become the new chancellor of UCSF, replacing Dr. J. Michael Bishop.
In the early 1990s, Desmond-Hellmann said, she knew that women who had breast cancer and a certain genetic makeup had a shortened life expectancy compared with other women with breast cancer. But she had no specialized treatments to offer them.
Herceptin has shown success by targeting the HER2 gene in these women. Scientists can now tell which women are likely to benefit from the drug and which are not, she said. Thus physicians can avoid giving the drug to everybody and having some suffer the side effects without receiving any benefit.
Genetic information could also help with prevention. If people know they have a makeup that increases their susceptibility to a certain kind of cancer, Venter said, there may be steps they can take to help prevent it. In the long run, he added, that could help control health care costs.
But as patients gain more knowledge, McCormick emphasized, health leaders will need to help them interpret what it all means and how they should respond.
"It's really awful to know you're at high risk of disease and there is nothing you can do about it," he said.
Reach Sandy Kleffman at 925-943-8249 or skleffman@bayareanewsgroup.com.
Immune therapies finally working against cancer
By MARILYNN MARCHIONE AP Medical Writer
Posted: 05/31/2009 07:52:42 AM PDT
Updated: 05/31/2009 11:38:24 AM PDT
from the San Jose Mercury News, 6/1/09 page 4A.
ORLANDO, Fla.—First there was surgery, then chemotherapy and radiation. Now, doctors have overcome 30 years of false starts and found success with a fourth way to fight cancer: using the body's natural defender, the immune system.
The approach is called a cancer vaccine, although it treats the disease rather than prevents it.
At a cancer conference Sunday, researchers said one such vaccine kept a common form of lymphoma from worsening for more than a year. That's huge in this field, where progress is glacial and success with a new treatment is often measured in weeks or even days.
Experimental vaccines against three other cancers—prostate, the deadly skin disease melanoma and an often fatal childhood tumor called neuroblastoma—also gave positive results in late-stage testing in recent weeks, after decades of struggles in the lab.
"I don't know what we did differently to make the breakthrough," said Dr. Len Lichtenfeld of the American Cancer Society.
Instead of a single "A-Ha!" moment, there have been many "ah, so" discoveries about the immune system that now seem to be paying off, said Dr. John Niederhuber, director of the National Cancer Institute.
It's way too soon to declare victory. No one knows how long the benefits will last, whether people will need "boosters" to keep their disease in check, or whether vaccines will ever be a cure. Many vaccines must be custom-made for each patient. How practical will that be, and what will it cost?
Those are all good questions—but there are no answers yet, said Dr. Richard Schilsky, a University of Chicago cancer specialist who is president of the American Society of Clinical Oncology.
Several vaccine studies were reported over the weekend at the oncology group's annual meeting in Florida.
A big problem has been getting the immune system to "see" cancer as a threat, said Dr. Patrick Hwu, melanoma chief at the University of Texas M.D. Anderson Cancer Center. Viruses like the flu or polio are easily spotted by the immune system because they look different from human cells.
"But cancer comes from our own cells. And so it's more like guerrilla warfare—the immune system has trouble distinguishing the normal cells from the cancer cells," he said.
To help it do that, many cancer vaccines take a substance from a cancer cell's surface and attach it to something the immune system already recognizes as foreign—in the lymphoma vaccine's case, a shellfish protein.
"It's a mimic to what you're trying to kill, a training device to train the immune system to kill something," Hwu explained.
To make the attack as strong as possible, doctors add a substance to put the immune system on high alert.
Dr. Stephen Schuster of the University of Pennsylvania School of Medicine led a study testing BiovaxID, an experimental vaccine against follicular lymphoma developed by the National Cancer Institute. Rights to it are now held by Biovest International Inc. of Worcester, Mass., and some of his co-researchers have financial ties to the company.
To be in the study, patients had to have achieved a remission for at least six months with standard chemo. This often occurs with this type of lymphoma, but the disease usually comes back.
Researchers gave 41 patients the shellfish protein and an immune booster; 76 other patients were given those plus the vaccine. After nearly five years of followup, the average time until the cancer worsened was 44 months in the vaccine group and 30 months in the others.
Big gains also were seen with a neuroblastoma vaccine developed by the cancer institute. In a study of 226 patients, 86 percent of vaccine recipients were still alive after two years versus 75 percent of others not given the vaccine. Results were released by the oncology society two weeks ago.
The benefits from a melanoma vaccine developed by the cancer institute were more modest. It extended the time until patients relapsed—three months versus one and a half for those not given the vaccine.
Hilde Stapleton, 53, of suburban Houston, is one of the lucky ones it helped. Still, she found what many other vaccine recipients have learned: The vaccine had few side effects, but the immune system boosters were "like the worst case of flu you've ever had," she said.
The prostate cancer vaccine, Provenge, is farthest along. Its maker, Seattle-based Dendreon Corp., is seeking federal Food and Drug Administration approval for it. A study last month found that it extended survival by four months in men with very advanced disease.
Doctors unconnected with these experiments are cautiously optimistic.
"We've raised so many false hopes in the past," said Lichtenfeld of the Cancer Society. "What's different this time is we have the science reports to back up improvements."
———On the Net:
Cancer meeting: http://www.asco.org
National Cancer Institute: http://www.cancer.gov
Immune therapies finally working against cancer
By MARILYNN MARCHIONE AP Medical Writer
Posted: 05/31/2009 07:52:42 AM PDT
Updated: 05/31/2009 11:38:24 AM PDT
from the San Jose Mercury News, 6/1/09 page 4A.
ORLANDO, Fla.—First there was surgery, then chemotherapy and radiation. Now, doctors have overcome 30 years of false starts and found success with a fourth way to fight cancer: using the body's natural defender, the immune system.
The approach is called a cancer vaccine, although it treats the disease rather than prevents it.
At a cancer conference Sunday, researchers said one such vaccine kept a common form of lymphoma from worsening for more than a year. That's huge in this field, where progress is glacial and success with a new treatment is often measured in weeks or even days.
Experimental vaccines against three other cancers—prostate, the deadly skin disease melanoma and an often fatal childhood tumor called neuroblastoma—also gave positive results in late-stage testing in recent weeks, after decades of struggles in the lab.
"I don't know what we did differently to make the breakthrough," said Dr. Len Lichtenfeld of the American Cancer Society.
Instead of a single "A-Ha!" moment, there have been many "ah, so" discoveries about the immune system that now seem to be paying off, said Dr. John Niederhuber, director of the National Cancer Institute.
It's way too soon to declare victory. No one knows how long the benefits will last, whether people will need "boosters" to keep their disease in check, or whether vaccines will ever be a cure. Many vaccines must be custom-made for each patient. How practical will that be, and what will it cost?
Those are all good questions—but there are no answers yet, said Dr. Richard Schilsky, a University of Chicago cancer specialist who is president of the American Society of Clinical Oncology.
Several vaccine studies were reported over the weekend at the oncology group's annual meeting in Florida.
A big problem has been getting the immune system to "see" cancer as a threat, said Dr. Patrick Hwu, melanoma chief at the University of Texas M.D. Anderson Cancer Center. Viruses like the flu or polio are easily spotted by the immune system because they look different from human cells.
"But cancer comes from our own cells. And so it's more like guerrilla warfare—the immune system has trouble distinguishing the normal cells from the cancer cells," he said.
To help it do that, many cancer vaccines take a substance from a cancer cell's surface and attach it to something the immune system already recognizes as foreign—in the lymphoma vaccine's case, a shellfish protein.
"It's a mimic to what you're trying to kill, a training device to train the immune system to kill something," Hwu explained.
To make the attack as strong as possible, doctors add a substance to put the immune system on high alert.
Dr. Stephen Schuster of the University of Pennsylvania School of Medicine led a study testing BiovaxID, an experimental vaccine against follicular lymphoma developed by the National Cancer Institute. Rights to it are now held by Biovest International Inc. of Worcester, Mass., and some of his co-researchers have financial ties to the company.
To be in the study, patients had to have achieved a remission for at least six months with standard chemo. This often occurs with this type of lymphoma, but the disease usually comes back.
Researchers gave 41 patients the shellfish protein and an immune booster; 76 other patients were given those plus the vaccine. After nearly five years of followup, the average time until the cancer worsened was 44 months in the vaccine group and 30 months in the others.
Big gains also were seen with a neuroblastoma vaccine developed by the cancer institute. In a study of 226 patients, 86 percent of vaccine recipients were still alive after two years versus 75 percent of others not given the vaccine. Results were released by the oncology society two weeks ago.
The benefits from a melanoma vaccine developed by the cancer institute were more modest. It extended the time until patients relapsed—three months versus one and a half for those not given the vaccine.
Hilde Stapleton, 53, of suburban Houston, is one of the lucky ones it helped. Still, she found what many other vaccine recipients have learned: The vaccine had few side effects, but the immune system boosters were "like the worst case of flu you've ever had," she said.
The prostate cancer vaccine, Provenge, is farthest along. Its maker, Seattle-based Dendreon Corp., is seeking federal Food and Drug Administration approval for it. A study last month found that it extended survival by four months in men with very advanced disease.
Doctors unconnected with these experiments are cautiously optimistic.
"We've raised so many false hopes in the past," said Lichtenfeld of the Cancer Society. "What's different this time is we have the science reports to back up improvements."
———On the Net:
Cancer meeting: http://www.asco.org
National Cancer Institute: http://www.cancer.gov
Oil chart price: http://stockcharts.com/charts/gallery.html?$WTIC
Oil chart price: http://stockcharts.com/charts/gallery.html?$WTIC
Any JBLU's out there @$4.53? JBLU has not been under $4 for too long since late 2002 roleout.
Oil at about $66 a barrel, from $35 52 wl low, from about $145 high.
Any comments about JBLU in general and/or oil price projections?
Any LUV out there @$6.74? Tech charting: under $6 is about 10 year low (with except of recent $4.95 52 week low). Oil at about $66 a barrel, from $35 52 wl low, from about $145 high.
Targeting buying LUV under $6. Any comments about LUV in general and/or oil price projections?
Unfortunately, when you start telling the truth to people, they may label you as a "conspiracy nut." I am pretty much over that. I am 52 years old and I finally learned that people have to be receptive to the material. If they are not, I shut up. I have no desire to jump on a soap box and look like an idiot.
Re: the U.S. dollar loosing it's reserve status. One word: GOLD. I'm talking about 1oz gold coins in the safe deposit box, not GLD or gold stocks. If you have kids, I would buy as many gold coins as I could. Richard Russell of Dow Theory Letters says gold <$1000 oz is a buy.
OT- CGRB sold, $970M cash. Check earnings and profile of Cougar. Can someone tell me how Cougar sells for $970M and IDM <$67M with an EU approved drug!?! Me head spins
J&J to acquire Cougar Biotech for about $970 mln
Thu May 21, 2009 8:05pm EDT
J&J to pay $43 per share
Deal to close in third quarter.
By Deena Beasley
LOS ANGELES, May 21 (Reuters) - Drugmaker Johnson & Johnson on Thursday said it has agreed to acquire cancer drug developer Cougar Biotechnology Inc (CGRB.O: Quote, Profile, Research, Stock Buzz) for about $970 million in cash in order to strengthen its oncology business.
J&J said it will tender to purchase all outstanding shares of Cougar at $43 per share, which is about a 16 percent premium to their Nasdaq close of $36.98. The shares were trading at $42 after hours.
Cougar is currently conducting two pivotal-stage trials for abiraterone acetate, an experimental treatment for prostate cancer.
"The acquisition of Cougar Biotechnology with its talented team will strengthen our growing capabilities toward a leadership position in the global oncology market," William Hait, head of oncology at J&J's Ortho Biotech unit, said in a statement.
The deal marks the latest in a string of purchases by big pharmaceutical companies of smaller companies with promising products, including GlaxoSmithKline PLC's (GSK.L: Quote, Profile, Research, Stock Buzz) agreement last month to acquire Stiefel Laboratories Inc, a privately held maker of drugs for acne and other skin treatments.
The global financial meltdown and consequent withering of financing options has forced many development-stage biotechnology companies to look for mergers or partnerships as a way to weather the downturn.
Much larger recent deals in the space include Pfizer Inc's (PFE.N: Quote, Profile, Research, Stock Buzz) $68 billion purchase of Wyeth (WYE.N: Quote, Profile, Research, Stock Buzz), Merck & Co's (MRK.N: Quote, Profile, Research, Stock Buzz) $41 billion acquisition of Schering-Plough Corp (SGP.N: Quote, Profile, Research, Stock Buzz) and Roche Holding AG's (ROG.VX: Quote, Profile, Research, Stock Buzz) $47 billion payment for the part of Genentech Inc that it didn't already own.
In addition to its prostate cancer compound, for which key data will be presented at next week's meeting of the American Society of Clinical Oncology, Cougar is developing treatments for breast cancer and multiple myeloma.
J&J said the transaction, expected to close in the third quarter, will reduce its earnings per share by 2 cents to 3 cents.
The closing is conditioned on clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. (Reporting by Deena Beasley; Editing by Gary Hill)
OT- highfive love your Stamp quote. Have you read "The Creature from Jekyll Island- A Second Look at the Federal Reserve" by G. Edward Griffin? Amazing book on the Fed, central banking systems and a lot more. A must read.
I have my old beat-up copy with my notes and just bought two new copies of new 2009 edition on Amazon, one for me and one for my downstairs neighbor.
I believe 80 to 90% of people living in this county have no idea what went down in the final months of the Bush administration re: ending up giving trillions of taxpayer money to the banking system/wall street. And now Obama is doing the same thing!
I used to think that JFK was assassinated because he signed an executive order for the pull out of U.S. troops from Vietnam. But then I found out in 1963 JFK enacted executive order 11110. The U.S. Treasury began printing upward of four billion of U.S. Notes to replace Federal Reserve Notes. When a sufficient supply of the notes reached circulation the Fed and the Central Banking system could be declared obsolete. This would end control of the bankers over the US government and the American people. Five months later on 11/22/1963 President Kennedy was professionally assassinated by an order from unknown sources.
Thank you for that information. Do you have the complaint number and court website? Who knows where all this is going to lead. Good luck to us all.
meixatech, you might right about the complaint and previous information the law firm might have had before the announcement on Monday of the sale of IDM.
Be aware though that these plaintiff attorneys have "cookie cutter" form complaints ready to go with the "static" information with the various causes of action of the complaint ready to go. So all they all have to do is fill in the blanks with the specific variable information of this particular complaint and the complaint is ready to go. If you have the information this can be done in mere hours, thus this complaint could have been prepared yesterday, ready to be filed today.
Yea, well, the key here is P.A. As I posted before if P.A. signs off on this merger it is a done deal @$2.64 a share.
Something is worth only what somebody is willing to pay for it. I just do not see IDM's B of D, executive management and P.A. all signing off on this deal unless there were no other credible buyers of the company interested at this time.
I believe there is some information regarding IDM's ability to generate revenue from Mepact that we are not privy too, that either it will cost a lot money to get the revenue flowing, production costs for Mepact will be to high, or perhaps that it will take much more time then we believed. Something is very wrong here and I do not what it is. At least cancer patients will get Mepact.
I made out with about $7K, was looking for triple digits. Yes, we got screwed, big time selling IDM for <$67M! But as I said before, I believe IDM's management put this company behind the eight ball and in the jungle if you sense weakness you pounce and Takeda pounced.
Re: if there is a lawsuit, I have worked in legal for 20 years and the attorneys are the ones who usually win in the end. Still, could be interesting to see how this plays out.
The key is (iii)(4) to wit P.A. CAN withdraw it's shares IF:
... Palo Alto Investors, LLC and its affiliates funds can reject the "merger agreement" IF P.A. receives (4) ... "an unsolicited offer to acquire IDM from a third party at a higher price than the Offer Price that is reasonably capable of being
completed. ..."
OK- so what this means is that P.A. has left themselves a "trap door" to get themselves out of this "merger agreement."
This tells me two things:
1. If P.A. is willing to sell it's IDM shares at $2.64, the deal is done, its over at $2.64! Then P.A. agrees we could not have brokered a deal for a higher share price;
2. P.A believes IDM can be sold for more than $2.64 a share, but will take $2.64 as a last resort.
Also note: per the agreement, it must be completed no later than July 22, 2009, (which is not in the part of the text I copied).
IMHO anything <$4.00 a share is a crime, so this $2.64 offer is about 50% short.
The actual text reads, in part:
"As of May 18, 2009, the outstanding Shares subject to the Stockholders' Agreement represent approximately 55% of the total outstanding Shares and approximately 49% of Shares outstanding on a fully diluted basis for purposes of determining the Minimum Condition. Pursuant to the Stockholders' Agreement, each of the Signing Stockholders agreed, in their capacities as stockholders of IDM, among other things,
(i) subject to the termination of the Stockholders' Agreement, to tender or cause to be tendered in the Offer all Shares beneficially owned or subsequently acquired by them,
(ii) for the Signing Stockholders who are directors and officers of IDM, not to withdraw the Shares tendered by them in the Offer prior to the termination of the Stockholders' Agreement,
(iii) for Palo Alto Investors, LLC and its affiliates funds, not to withdraw the Shares tendered by them in the Offer prior to the earliest of (1) the time Purchaser accepts Shares for payment in the Offer, (2) July 22, 2009, (3) the occurrence of a Company Adverse Recommendation Change (as defined in the Merger Agreement), (4) the receipt or announcement of an unsolicited offer to acquire IDM from a third party at a higher price than the Offer Price that is reasonably capable of being completed or (5) the termination of the Stockholders' Agreement, (iv) for Medarex, Inc., not to withdraw the Shares tendered by them in the Offer prior to the earliest of (1) the time Purchaser accepts Shares for payment in the Offer,
(2) July 22, 2009, (3) the occurrence of a Company Adverse Recommendation Change (as defined in the Merger Agreement or (4) the termination of the Stockholders' Agreement."
That's it from me, listening to amazing Callas in beautiful Carmen by Bizet (recorded in 1964) on CD to remind myself to be grateful for my health and a lot of other things too, after a disappointing day. Best to all and GL, Bow
IDMI sold for $2.64. Not the result I was looking for here. What a disappointment, was looking for >$4.00 a share.
TAKEDA PHARM ADR (TKPHY.PK), this is buyer @ about $20 a share. Someone said on Yahoo mb that this is a merger, so that those holding on to their IDM shares would get tkphy.pk shares. Any comments on this?
selling for about $67M, with about $10M of cash (?), brings it down to $57M for an EU approved cancer drug and IDM-2021??? Man, what a steal of home base
I am going to wait to sell my shares- maybe, just maybe, we might get another higher offer, who knows, $2.64 is just so outrageous.
All I have is speculation right- which is: perhaps PA made big, big money in VNDA (they are the largest s/h) this past couple of weeks and because of this PA really did not need anything more from IDM so they approved the deal @$2.64. That is all I can think of right now.
Let us not forget that at least cancer patients will have access to mifamurtide, which is a really, really good thing.
Having said that, now it is time to vent. This is exactly what I was afraid of- that IDM's executive management screwed current s/h's and put this company behind the eight ball by their leaving for another company, Horizon. What $2.65 a share?? buy-out, come on. I knew by the action in the stock price something was very wrong, I was just hoping I was wrong. Now, the FDA will approve mifamurtide and this stock may have been >$15 a share. Howl.