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I am with you on not surrendering yet. For me it will really help if I can even push it out to 2014 for tax deferral. But it looks like Trius did not get competitive bids at higher price around the time Cubist proposed the merger. Could they have waited ? Sure but no guarantee and Cubist is still a better fit than any other big pharma.
It says investors not institutions ?
How do you know institutions are not tendering ? The. Sec dock filed clearly shows due deligence was followed. So likely courts will dismiss. Market always knows. If there were any merit, stock would have been hit ( back to 11:30 support) the risk is if majority is tendered, the minority has a small risk of not being included and if they do get included it could be higher or lower. Scare tactics yes but improbable ? No
Just sharing street perception of him. Now that he is heading Genesis Pharma, it will be interesting to find out what he is up next. FWIW, he gave himself 60 million shares options is what I heard
Exactly my thoughts. Please let us know what you find out. I will be talking to Corporate Affairs department at TDAmeritrade on Monday as well and will post what they have to say.
The offer letter has Q&A style that gives more clarity. The question related 'If I decide not to tender , how will Offer affect my shares ?' is bit confusing, though. Looks they are saying, if offer is consummated but merger does not go thru, shares that were not tendered might not be eligible for public trading due to being reduced to minority or insignificant quantity.
What's interesting is the last few lines for this question, where it says they can buy at any price higher or lower the remaining shares that were not tendered after the offer is consummated and thru the exercise of top-up option.
So definitely there is a risk of not tendering the shares as part of offer.
Don't want to kill the goose that's in the process of laying the golden egg
It's water under the bridge now. If you still want to know, he was a known pumper and apparently gave conflicting stats on analyst interviews. Rumor has it that Dr. John Yu didn't see eye to eye with Dr. Manish Singh and forced him out. Dr. Singh has left lot on the table (close to 1 million shares) and knows, he will hit pay dirt soon if not sooner, if things were left to him.
I am pretty sure, we would be above $5 if Dr. Singh was around. However Dr. Yu is careful playing very conservative. Regardless let's leave it to Science to speak for itself..
Got notice from my broker yesterday for tendering in my shares (voluntarily) by September 11th. I am trying to see how much time I can borrow if I choose to appraise under Delaware law purely for tax implications.
That's my thesis for buying hands over fist last few days. Anything under $2 is a steal. I know $2 is still way to go..
Must read for all ZLCS longs:
http://beta.fool.com/jorgeaura/2012/11/20/pfizer-does-it-need-future-substitute-lyrica/16948/
Yep. The near term catalyst of NDA filing was not taken into account for considering the price floor. May be CBST was smart knowing the price will spike in the hot biotech stock market.
Regardless, with the tender offer unchanged from original PR release, I doubt cubist will re-negotiate now. We have to wait for next 20 days to see the outcome.
Now that you have bought el cheapo shares, I hope so. lol..
75k shares at average cost of 0.68 and strong
Well, the tender offer filing allows appraisal for anyone who may not agree with the terms.
4:00PM Trius Therapeutics: Cubist Pharmaceuticals commences tender offer for all outstanding shares of Trius Therapeutics for $13.50 per share plus one contingent value right (TSRX) 13.73 +0.03 : CBST announced the commencement of its tender offer for all outstanding shares of the common stock of Trius Therapeutics(TSRX) for $13.50/share in cash, plus one Contingent Value Right, entitling the holder to receive an additional cash payment of up to $2/share they tender if certain sales milestones are achieved. The tender offer is being made by BRGO Corporation, a wholly-owned subsidiary of Cubist, and is dated 7/30/13.
Seems a typo on "plus one Contingent value right". Sounds like total of 3 CVR ?? Am I misreading the briefing.com news ?
Initial Tender Offer agreement filed today..gives more details around page 14
http://investor.triusrx.com/secfiling.cfm?filingid=1047469-13-8399
Agree. I rather not see price go up dramatically on any management hype but kudos to new CEO Gengos who was very measured and did not use the CC to pump the stock. Great CC. I recommend everyone to listen if not done already.
I just added at 3.02 more today...
I echo your thoughts. Very impressed with the CC. However the CEO was very conservative and doesn't want to show any optimism on the trial outcome unlike the previous pumper CEO. C'mon..these guys got to know something by now; so why not show some more excitment ?
Bob et all, FWIW, Dr. Jay Venkatesan is a very reputed Hedge Fund investor with stellar background and integrity. If he is drawn to the BOD, then he is seeing something special in Genesis.
Like Bob said, I am also waiting to add more once the R/S consolidation settles down.
Meanwhile not sure how many shares my 100K current holding will get converted to. 1:50 to 1:100 is a wide range.
Nope, sorry and I am trying to get to it myself before rest of the public
Joe Springer's article is out. Expect a sharp rally in IMUC today..possibly hitting $5 or above...
I continue to be long with 58k shares. At minimum I will hold until the BO date for $2 CVR payout down the road as free ride. Holding my shares for couple of more months is not bad for this reason. In case the BO date gets delayed, all the better for long term capital gains as I have still 6 months to go before 1 year period is over for LTCG holding.
In short, not worried a bit
We will close above $4 by end of this week. Possibly closer to $5 depending on how good Springer's article is..
Yep..I am aware of this..however 5 million vs 50 million ? Huge difference..
I do agree with you that there is a 'smoke' if not fire yet. Regardless of timing, though, if BOD approves 5 million shares we have to see if they actually got any. It's one thing to raise the OS as a shelf but another thing allocating them as an option or otherwise private placements. I have not see the later part yet.
Until they are actually issued, the total OS is still ~47 million.
Total BS.The OS of the company is around 48 Mill and directors got 50 Million shares.? ..ROFLMAO
GL. I have 58k shares that I am not planning to sell until the pay-out date or higher offer whichever comes first. Regardless pay-out by CBST will assure me of $2 per share over next few years which is ~$116k not bad on Long term capital gains basis..
Agree I think the price is going higher
Did the Trius board not approve this deal. If they have and not just considering the offer, other offers are ruled out but considering the $20 fair price Cubist may up the deal to get institutions support. They rather would avoid proxy fight..
Good move, IMHO..We will start picking up steam towards end of August in anticipation of NDA filing.
The fact that the management has not chosen to raise secondary is a good thing (even if they did, it will be small and considered positive - see ACAD and CLDX to name a few).
We might get some PR as TSRX is attending ICAAC 2013 in August. Hoping TSRX might present late breakout session paper on their new anthrax killer discovery
Kudos, Reasonable ! Best post of the day..
Now you are reasonable ...lol
Bob,
Agree. However great entry point now considering Genesis will be better managed by investor friendly Dr. Singh. A $10k investment at these levels can be a potential 10x bagger at just $1 & above
Great news for Genesis shareholders that Dr Singh will be new CEO via this merger. He is very Street savy and we will see steady pps appreciation.
Wrong or right ? Don't flip coin
And what correction ? From 7 it went all the way to 12.55 and one point below with sharp bounce back, you call correction ? LMAO..
Look at the forest instead of trees...
I see $15 short term now that mini-pullback is over ( lol). With NDA filing $18 to $20 range as approval has been de- risked significantly.
Trius is sum of all these parts and more
1. $1 billon market
2. Zyvox includng its generic version killer
3. Great gram-negative pipeline
4. Recent discovery of new class of antibiotics granted few years away from commercialization
5. Partnership for Euro markets
6. Lastly buyout
With approval close to being certain, there are very few less risker biotechs out there that have this low valuation.
$15 will come soon,,,mark this post..some serious institutional buying is going on prior to buyout
Stop posting crap about getting low...let market decide the fair value..if you have sold, good luck but don't 'forecast' fair value..looks stupid..
One thing for sure will move the needle for IMUC stock is level of Institutions holdings for 2Q vs 1Q. Adam F has repeatedly said this is critical for IMUC science to get vindicated in the Street. We will know anytime now as 13-F reports will start flying off the shelf.
(Hold on to your Hats) Local scientist finds antibiotic that kills anthrax - Diego-based Trius Therapeutics
.
LA JOLLA, Calif. — A compound that appears to be an effective killer of anthrax and other infectious organisms was discovered by a researcher in the ocean off Santa Barbara, the Scripps Institution of Oceanography announced Wednesday.
Scripps researcher Chris Kauffman collected the microorganism that produces the compound last year from sediments close to shore.
The unusual structure of the compound, which was named anthracimycin, was tested by the Scripps Center for Marine Biotechnology and Biomedicine and San Diego-based Trius Therapeutics. Initial results revealed its potency as a killer of anthrax, the infectious disease often feared as a biological weapon, according to Scripps.
“The real importance of this work is the fact that anthracimycin has a new and unique chemical structure,” said William Fenical, who led Kauffman’s team.
Fenical said the finding could lead to testing and development of a drug.
“The discovery of truly new antibiotic compounds is quite rare,” Fenical said. “This discovery adds to many previous discoveries that show that marine bacteria are genetically and chemically unique.”
The testing also showed promise that the compound could be effective against methicillin-resistant Staphylococcus aureus, known as MSRA.
The U.S. Centers for Disease Control and Prevention says MSRA is a difficult-to-treat form of staph bacteria that can infect hospital patients and athletes in locker rooms.
Scripps said the discovery provides new evidence that the oceans, and many of its unexplored regions, could yield new materials that can be used in the future to treat a variety of diseases and illnesses.
The discovery was reported in the international edition of the German journal Angewandte Chemie
I agree with you. The story on lack of cutting edge antibiotics is larger than any individual stock. When folks start looking at the trees like TSRX, the forest will take care of it itself