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OT - Car insurance
Wisconsin is the only other state that does not require car insurance.
Quiz answer: Gas (i.e., natural gas)
Quiz answer: Proctor & Gamble (PG)
MNTA...
I see no news. Hopefully some buyers know some very good news!!!
10nis
<< See last June they released their HCV Phase II results, and the fans were glowing, claiming "prediction" came true.....
http://investorshub.advfn.com/boards/read_msg.asp?message_id=20377556 >>
Last June being June 2007.... Jo jo, you've lost a year.... It's 2009!!
10nis
OT Housing
<<It looks like the government is talking about subsidizing the actual payment so they don't have to deal with the loan itself. Instead of writing down the principal where the bank would take the loss they think that if a person has a $1000 monthly payment and can only afford $600 it would be cheaper for the government to juct kick in the other $400 per month.>>
Too bad that will have NO impact on stopping the decline of home prices.
IMHO, the Government needs to buy homes (foreclosed, vacant, homes on the market for 9 months or longer) throughout the country and tear them down. Supply needs to be reduced and the quickest way to do that is to tear them down. The government could take $1 trillion and buy approximately 4 million homes (average price of $250k). The Government could also employ workers throughout the country in stripping, tearing down and cleaning up home sites - recycling and selling various home components.
IMO, this would stop the fall in home prices and as such, would help the average home owner/consumer, banks, home builders, etc.. Save the U.S. by tearing it down.
10nis
<<<< If approval happens and Cox has the timing right and announces an FOB deal in the days following approval, the runnup will be nice. Whether it's tens of millions of dollars in upfront cash, or the ability to sell some shares at $2-3-4 it will hold promise that the loan will be paid. >>>>
Gym - you really need to get off the sauce or whatever you're smoking. Sell some shares at $2-3-4?? Are you crazy? No one besides LFB is going to finance GTC... And GTC would need to be near $6-8 to be able to sell some shares at $2-3. You really need to look at the balance sheet.
If you want to put some money to your completely wild and absurd prediction let me know because I'd love to take the other side of the bet.
10nis
ABT, EYE
=DJ Abbott Labs To Buy Advanced Medical For $1.36 Bln
.
DOW JONES NEWSWIRES
Abbott Laboratories (ABT) has agreed to acquire Advanced Medical Optics Inc. (EYE) for $1.36 billion, allowing the medical-device maker to get into the eye-health business at a discount.
Shares of Advanced Medical crumbled nearly 90% in September and October as providers of laser-vision correction services were pummeled during the stock market's crash, since economic woes crimp demand for such products. But Advanced Medical also provides cataract services and contact-lens products.
Abbott is agreeing to pay $22 a share for Advanced Medical, more than double Friday's closing price of $8.85, but at the level the stock was trading just four months ago. The stock briefly cracked $50 in mid-2006.
Including debt, the deal is valued at $2.8 billion.
"Abbott will immediately become a global leader in vision," said Abbott Vice President John M. Capek. "The business is poised for long-term growth, driven by advances in refractive surgery technologies, including Lasik, and an aging global population."
Abbott noted Advanced Medical is the world's biggest firm in Lasik surgical devices, No. 2 in the cataract surgical-device market and No. 3 in contact-lens care products. It went on to highlight the need to serve the market for cataracts, which 60% of people over 60 have. Those with cataracts are expected to grow nearly 50% in the next decade, said Abbott.
Abbott Chairman and Chief Executive Miles D. White said his company's global heft "will help drive growth opportunities for this business, especially in international markets, where favorable demographics are driving demand for advanced eye care procedures and products."
Meanwhile, Abbott reiterated its 2008 earnings target and said the deal won't have an affect on 2009 profit but will boost next year's bottom line. Abbott on Monday projected 2009 earnings, excluding items, of $3.65 to $3.70 a share, within analysts' expectations.
Abbott shares were down 1.2% premarket at $50.56.
-By Mike Barris, Dow Jones Newswires; 201-938-5658; mike.barris@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=HIRqysSZOx%2FMcYY7G7Zsaw%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
January 12, 2009 08:52 ET (13:52 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 08 52 AM EST 01-12-09
**Brought to you by Scottrader, a product of Scottrade Inc**
<< 2 today is as likely today as GTCB being $2 on any other day.
Wall street can push things to rediculous levels in both directions, and it doesn't need rhyme or reason, just momentum and pump. IMHO if any real press is generated, even if it seems to be negative from the peta crowd, you could expect the unexpected. >>
Seriously people... Can we get back to reality? 2 today is as likely today as any day... You're right. However, you fail to mention that the chance of 2 ever happening is about equal to you writing a meaningful message on this board. Good Luck.
10nis
<< It is true that the latest LFB financing deal has diluted us more with their warrants and shares, but if GTCB can handle resolving the LFB recent loan this would not be a big issue anymore and the stock could easily levitate past $2 and a market cap of over $250 Million... >>
Resolving the LFB recent loan means not only obtaining enough cash to pay back the loan but also to obtain enough cash to keep the business running for another year. So, GTCB needs to obtain some where around $30 million in cash to pay off the loan and fund operations for the year.
Buyout looks like the only option IMO for shareholders and GTCB has very little negotiating power with LFB.
10nis
<< Considering the S&P 500 decline of 32.4% from 6/11/08 to 12/31/08 this was a pretty dismal performance. However I am inclined to give these savvy individuals a pass based on the impossibility of predicting the financial meltdown which occurred during the year. Their current selections based on the new economic realities will be a much fairer test of their stock picking prowess. >>
Impossibility of predicting the financial meltdown? I beg to differ... There were a number of smart people either short or sitting out the market last year. In addition, on 06/22/2008 an RBS analyst predicted a world-wide stock market crash.
RBS Predicts Worldwide Stock Market Crash
Stock-Markets / Financial Crash Jun 22, 2008 - 10:52 AM
By: William_Patalon_III
As rocky as the global markets have been, the worst is yet to come, the Royal Bank of Scotland Group PLC (ADR: RBS ) warns.
RBS analysts have warned clients to brace for a full-blown crash in the global stock-and-bond markets over the next three months as the conflicting realities of slowing growth and rising inflation paralyze the world's major central banks - causing "all the chickens [to] come home to roost," Great Britain's Daily Telegraph newspaper reported.
The report, which first surfaced late Wednesday, raced across the Internet yesterday (Thursday), though it appears that European news organizations are giving it much wider play than their U.S. counterparts.
The predicted swoon would cause the U.S. Standard & Poor's 500 Index - already down 15% from its trading high of 1,576.09 reached Oct. 11 - to nosedive all the way down to 1,050 by September. For the closely watched, broad-based U.S. stock index, that would represent an additional decline of 22% from yesterday's close of 1,342.83 - and a total decline of 33% from its Oct. 11 apex.
This is the worst forecast of any investment bank survey followed by Bloomberg News .
"The Europeans, in general, tend to have much-more conservative banking systems and financial vehicles than we have here in the United States," said Keith Fitz-Gerald, investment director for Money Morning . "They've been through centuries of economic and financial conflict. For that reason, they are much more pre-conditioned and predisposed to listen to major warnings like this one."
The sell-off that RBS expects to deepen started last fall after the U.S. subprime-mortgage crisis turned into a full-blown credit debacle even as it took on a worldwide reach. Banks and brokerages have written off roughly $400 billion in assets. But that torrent of write-downs may get even worse: At a conference in Monaco yesterday, New York hedge fund manager John Paulson estimated that this amount will triple to $1.3 trillion - a reality that will clearly exacerbate the decline of the financial markets worldwide, Bloomberg reported.
The predicted "contagion" will spread across Europe and will afflict the emerging markets, including the fast-growing economies in Asia, the RBS research team wrote to clients in a June 11 report. RBS is Britain's second-largest bank.
A sell-off of that breadth and magnitude would represent one of the worst bear markets the world has seen over the last century, and would clearly have implications reaching beyond stock-and-bond prices.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, 42, a U.K-based credit strategist for RBS.
In the credit markets, high-grade corporate bonds would see their trading values soar, while their lower-grade counterparts would see their own values plunge, thanks to a "renewed bout of panic on the [global] debt markets," the Daily Telegraph reported, citing key excerpts of the internal RBS report.
Addressing the fallout that RBS expects to see in the bond markets, Janjuah wrote to clients that he couldn't "be much blunter. If you have to be in credit, focus on quality, short durations [and] non-cyclical defensive names."
The credit analyst - who became an industry star after his grim warnings about the current global credit crisis played out as he predicted - also counseled clients that "cash is the key safe haven. This is about not losing your money, and not losing your job."
RBS expects the U.S. stock market to rally into the early part of July, thanks chiefly to the boosts provided by the aggressive rate-cutting campaign that the U.S. Federal Reserve launched last September and from the tax-rebate checks that were initiated by the Bush Administration's economic-stimulus plan. Those benefits will soon sputter and the real damage from soaring food-and-energy prices will finally become apparent.
Unfortunately, the world's leading central banks may not be in the position to help out this time around. In fact, both the Fed and the European Central Bank (ECB) face a so-called " Hobson's choice " as workers start losing their jobs en masse and lenders continue to cut off credit, the Daily Telegraph said.
Usually, the central banks would just cut interest rates or employ some other form of monetary stimulus to help their economies regain positive momentum. That's not an option this time around: The soaring food-and-energy prices are already pushing inflationary pressures to levels that will destabilize stock-and-bond markets.
The bottom line is that the U.S. economy could end up with stagflation, the rare but hard-to-eradicate one-two punch of high unemployment and high inflation.
"The ugly spoiler is that we may need to see much lower global growth in order to get lower inflation," Janjuah said. "The Fed is in panic mode. The massive credibility chasms down which the Fed and maybe even the ECB will plummet when they fail to hike rates in the face of higher inflation will combine to give us a big sell-off in risky assets."
And Europe won't dodge the bullet, RBS debt-markets chief Kit Jukes said.
"Economic weakness is spreading and the latest data on consumer demand and confidence are dire," Jukes told the newspaper. "The ECB is hell-bent on raising rates. The political fall-out could be substantial as finance ministers from the weaker economies rail at the ECB."
"What is being discussed here is absolutely within the realm of possibility and is a possibility that we've been discussing here in Money Morning for quite some time, now," Fitz-Gerald, the Money Morning investment director, said in the interview yesterday. "And we've never wavered in that conviction. In situations like this one, the best offense is a good defense, which consists of an appropriately structured and diversified portfolio of holdings that emphasize stability and balance, and current income derived from global markets. That kind of portfolio may well weather this kind of storm much better than a U.S.-based portfolio in isolation.
"This report - and others like it - may be extremely unsettling to individual investors. But the historical record is unequivocally clear that the best profit opportunities come when everyone thinks the skies are darkest. Savvy investors at this point in time can take steps to help them avoid this even if the rest of the world sinks into an economic cataclysm."
<< squeeking through fda approval with less than one quarter of cash in the bank, with a biotech tailwind, selling 10 more million shares at $3, paying off the loan and watching the stock price slowly return to $55 without a reverse split and despite the dilution since 2000. >>
Let's get back to reality people...
<< Thanks for your comment. I was thinking more along the lines of whether Tom object or be unhappy if I reposted his comments verbatim. >>
What does it matter if he's unhappy? Whatever he stated is public knowledge unless of course he was talking about how his wife prefers him on Viagra versus Cialis. Spill it my friend.
10nis
I wonder what Ovation/GTCR's thoughts/plans are regarding GTCB. Do they let LFB take it for a song or do they make a bid for GTCB once Atryn receives FDA approval? Only time will tell however FDA approval and a decent size partnership could result in a significant increase in the current share price.
Dew/Rustyboy - Can you both call/write the BOD and encourage that they fire Cox? It probably won't do much but someone needs to tell the BOD what they really think of them and Cox.
10nis
Press Release Source: GTC Biotherapeutics, Inc.
GTC Signs Agreement for $15 Million Convertible Debt Financing From LFB
Monday November 3, 7:00 am ET
Financing Subject to Shareholder Approval
FRAMINGHAM, Mass.--(BUSINESS WIRE)--GTC Biotherapeutics, Inc.’s ("GTC", Nasdaq: GTCB) signed an agreement with LFB Biotechnologies, its collaboration partner for a number of recombinant plasma protein and monoclonal antibody development programs, for a $15 million financing in which GTC will issue convertible debt and warrants to purchase shares of GTCB common stock. The financing, which will be for GTC’s corporate purposes across all programs, is subject to approval by GTC shareholders, consent by GE Capital and other closing conditions. It is scheduled for a stockholder vote and closing in mid-December 2008. GTC expects net proceeds at closing, after transaction costs and establishment of a restricted cash account, to be approximately $10 million.
Under the agreement, the convertible debt will mature on June 30, 2012, and will bear interest at an annual rate of 8%. The debt may be converted into GTC common stock at $0.31 per share at LFB’s discretion at any time after June 1, 2009. GTC has the right to redeem the debt on or before June 1, 2009. GTC will also issue to LFB 5-year warrants to purchase approximately 23.2 million shares of GTCB common stock at $0.31 per share. If the debt is repaid in full, LFB will have the right to require GTC to redeem the warrants for an aggregate price of $1.5 million. As a condition of the financing, $4 million of the proceeds will be placed in a restricted cash account to secure GTC’s existing debt to GE Capital.
“Our collaborative relationship with LFB is one of GTC’s most important strategic relationships as we navigate these difficult financial markets,” stated Geoffrey F. Cox, Ph.D., GTC’s CEO and Chairman of the Board. “This financing will enable GTC to complete the significant regulatory and partnering milestones for ATryn® in the US in the first quarter of 2009. In addition, we will continue to pursue our overall strategy of developing collaborative strategic partnerships across the full range of our development pipeline.”
The convertible debt will be secured by a first lien on GTC’s intellectual property and a second lien on all of GTC’s other assets except for the restricted cash account for GE Capital. In addition, the debt will be secured by a grant of rights and licenses with respect to certain products, including GTC’s co-exclusive rights under its collaboration agreement with LFB. The convertible debt will be subordinated to the current term debt with GE Capital.
The LFB financing is subject to a vote of GTC shareholders and completion of an intercreditor agreement between LFB and GE Capital.
IMPORTANT INFORMATION
GTC intends to file a proxy statement and other relevant documents with the Securities and Exchange Commission (the "SEC") in connection with seeking the necessary shareholder approvals to complete the financing discussed above. GTC shareholders should read the proxy statement and other relevant documents when they become available because they will contain important information about the financing and the related proposals. The proxy statement, any amendments or supplements to the proxy statement, and other relevant documents filed by GTC with the SEC will be available free of charge at the SEC’s website, www.sec.gov, and at the GTC’s website, www.gtc-bio.com. Copies of these documents will also be available free of charge by submitting a written request to GTC Biotherapeutics, Inc., 175 Crossing Boulevard, Framingham, MA 01702, ATTN: Investor Relations. GTC, its directors and certain of its executive officers may be deemed participants in the solicitation of proxies from GTC’s shareholders with respect to the proposals related to the financing. Information about GTC’s directors and executive officers and their respective interests in the financing will be set forth in the proxy statement that GTC will file with the SEC in connection with seeking the necessary shareholder approvals to complete the financing. Additional information regarding GTC’s directors and executive officers is also included in GTC’s definitive proxy statement for its 2008 annual meeting, which was filed with the SEC on May 21, 2008, and is available by the means described above.
IDIX...
The increase in price today could also be partially due to getting upgraded by Leerink Swann and Susquehanna.
Leerink Swann upped IDIX to Outperform from Market perform
Susquehanna upped IDIX to Positive from Neutral
10nis
<< OT] GNLB 1.20 (+422%) is trading 8% below the 1.30 cash buyout price. Not a bad arb situation, IMO, because there’s a very low chance the deal doesn’t get consummated. >>
I completely agree and bought today.
10nis
<< So let us try to surmise a meaning for the above given that GTCB's stock is in the abyss lately and given their current dire financial condition. Lately, Cox has been in the habbit of making some sort of announcement just before the CC and this has not happened yet. Also, clearly a buyout is not in the cards otherwise they would have postponed the CC for such an announcement. >>>
Clearly a buyout is not in the cards? Why would GTC need to postpone the CC to announce a merger? They could easily announce a buyout/merger/related deal with earnings. It actually happens all the time. Its a lot easier to have one conference call then two especially if they're only a couple days/weeks apart. For the deals I've worked on the past few years, management teams have set goals around announcing and closing a deal at a period end (i.e., quarterly, year).
I would have to say there is definitely some kind of news to be announced other than just earnings on Monday. IMHO, I think GTCR (private equity firm that owns Ovation) purchases all or most of GTCB at a substantial premium to the current market price $1.25-$1.50 or GTCB inks a partnership agreement providing upfront cash of $8-15 million.
10nis
OT
<< If the market opens where the futures point, I'm tempted to buy a bunch of $42 call on the qqqq's near the open. maybe not. call it a paper trade.>>
I hope you're lucky this was just a paper trade...
10nis
I think we're beating a dead horse...
And although this post probably belongs on the YMB, I think its a near certainty GTC will be taken over and maybe for a song relatively to its potential economic value. However, GTC needs a Company, Private equity firm, etc. where capital is plentiful. With a sufficient capital base and removal of dead weight, GTC can focus on yielding great long-term potential returns. The change to management's change in control golden parachutes and Cox's change in tone on the last conference call speaks volumes. $1.50 or thereabouts are my prediction...
Can anyone swing over to the GTC headquarters and see if there are any rental cars and/or suits walking around there?
10nis
IDIX (Reason for yesterday's advance??)
Press Release Source: Idenix Pharmaceuticals, Inc.
http://biz.yahoo.com/prnews/080904/neth030.html?.v=63
Idenix Pharmaceuticals Announces Completion of Proof-of-Concept Study for IDX899 in Treatment-Naive HIV-Infected Patients
Thursday September 4, 8:00 am ET
- 100 mg cohort demonstrates potent antiviral activity and favorable safety profile -
CAMBRIDGE, Mass., Sept. 4 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX - News), a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral and other infectious diseases, today announced that it has completed the proof-of-concept study evaluating IDX899, a non-nucleoside reverse transcriptase inhibitor (NNRTI) being developed for the treatment of HIV-1. Data from the study demonstrate that the 100 mg/day cohort achieved a mean plasma viral load reduction of 1.87 log10 after seven days of treatment, similar to the potency observed with the other evaluated doses of 800 mg, 400 mg and 200 mg/day in this study. As with the other cohorts, no treatment-related serious adverse events were reported for any of the patients receiving 100 mg/day of IDX899 and no patients discontinued the study.
"We are pleased that HIV-1-infected patients receiving IDX899 in this trial achieved potent viral suppression at all doses tested," said Douglas Mayers, M.D., Idenix's chief medical officer. "With the promising antiviral activity and safety profile seen to date, especially at low doses, we believe that IDX899 could become an important part of combination antiretroviral therapy."
The phase I/II clinical trial was designed to evaluate the safety, tolerability, antiviral activity and pharmacokinetics of IDX899. Four cohorts of 800 mg/day, 400 mg/day, 200 mg/day and 100 mg/day were completed with ten HIV-1-infected treatment-naive patients randomized 8:2 in each cohort to receive oral once-daily IDX899 or matching placebo, respectively, for seven days.
Patients (n=32) receiving once-daily oral administration of 800 mg, 400 mg, 200 mg and 100 mg of IDX899 achieved mean viral load reductions of 1.78, 1.78, 1.84 and 1.87 log10, respectively, after seven days of treatment as tested with the Roche Amplicor® 1.5 assay. Patients (n=8) receiving placebo achieved a mean plasma viral load increase of 0.10 log10. As with IDX899-treated patients in the 800 mg, 400 mg and 200 mg cohorts, all patients receiving 100 mg/day of IDX899 showed a consistent response with all patients exhibiting a one log or greater (range: 1.3 - 2.4 log10) reduction in viral load after seven days of treatment. No treatment-related serious or non-serious adverse events were reported and no patients discontinued the study. The most common adverse events observed were dyspepsia, headache and nausea; the rate of these events was similar between IDX899-treated patients and those receiving placebo. Additionally, no patterns in laboratory abnormalities between treatment groups were observed during the treatment period.
Two additional studies were also completed that evaluated the potential for a pharmacokinetic drug-drug interaction between IDX899 and other drugs for the treatment of HIV-1, as well as the safety and tolerability of IDX899 when administered in combination with those drugs. These separate studies were conducted using Reyataz® and Truvada® in combination with IDX899 and concluded that the study drugs were well tolerated and there were no clinically relevant drug-drug interactions.
<< More pharma M&A action today, with King Pharmaceuticals announcing that Alpharma rejected a $1.4 billion cash buyout offer King made earlier this month. Alpharma’s decision to walk away from the offer — and the market’s reaction to today’s news — is yet another sign of the strong position held by small drug companies with products on the market. >>
I wonder how many other biotech BOD's are sitting on similar buyout offers that they have not communicated to their shareholders? Cox was pretty confident on the last conference call - could it be because he's sitting on an offer or two? Only time will tell...
Have a great weekend,
10nis
DJ King Pharma Discloses Rejected $1.43B Bid For Alpharma
DOW JONES NEWSWIRES
King Pharmaceuticals Inc. (KG) publicly disclosed a $1.43 billion takeover offer for fellow drug maker Alpharma Inc. (ALO) that the rival rejected earlier this month.
The $33-a-share bid is a 37% premium to Alpharma's Thursday closing price of $24.04, and King noted in a letter dated Friday to Alpharma President and Chief Executive Dean Mitchell that the company stands ready to negotiate a deal.
Alpharma shares surged 41% premarket to $34 while King fell 1% to $11.12.
King Chief Executive Brian Markinson called the deal "too compelling to ignore," saying that it would create a diversified pharmaceutical company with the ability to sustain "long-term growth to better address the changing health care industry and provide meaningful, cost-effective medicines that improve the quality of life for patients."
By disclosing the rejected bid, King said it was hoping to inform shareholders, as it has a "strong preference" to complete a friendly deal.
Earlier this month, King reported that its second-quarter net income tumbled 34% as sales of its formerly top-selling Altace blood pressure drug were hampered by an influx of generic brands. Last year, King - which makes branded drugs in several niche markets, including neuroscience and critical care - lost a patent case, opening the drug to competition, and has tried to refocus its portfolio.
Acquiring Alpharma, producers of pain treatments as well as medicines for livestock, could provide King with "an expanded portfolio of pain management products and a strengthened pipeline, which would include multiple platform technologies," King said.
<< "A potential clause could be included in the agreement that would force the potential buyer to provide funding as the deal is being completed."
Are you joking? >>
No, are you? Its a negotiation and both parties need to agree to it. I didn't say it was likely but they could essentially use a reverse break-up fee as the mechanism for the funding. The potential buyer would most likely be interested in keeping GTC fully funded throughout the process.
As Dew mentioned in his post, a cash tender offer for shares would be the quickest way to close the deal.
10nis
October 14 is my estimate of the date that a deal would need to be struck by to get shareholder approval and all the necessary transaction related steps completed before cash would be completely depleted. I'm assuming the deal would take 45-60 days to finalize and complete.
A potential clause could be included in the agreement that would force the potential buyer to provide funding as the deal is being completed however if the deal would end up going south for some reason the parties would need to negotiate how that funding was treated. Presumely, the funding could be treated as a reverse break-up fee. Just my thoughts...
10nis
Only 1 other post today??
Is everyone feeling alright? Or is everyone busy pulling out there savings from our fine U.S. banking institutions.
I'm going to guess and say GTC receives an all cash takeover on or before October 14th at approximately $2.00/share (between $1.85 - $2.15).
Hope all is well,
10nis
I'm seeing 75 cents now... There definitely could be a buyout in the next few days/weeks. Who knows...
10nis
<<GTC’s Expected Cash Usage for 2H08
--The cash balance at 6/30/08 was $12.2M.
--Guidance for cash usage in 2H08 is $14M (excluding any financing transactions or new partnership deals).
--3Q08 will benefit from the initial $3M payment from Ovation (provided that the deal actually closes).
--4Q08 will benefit from the next $2M payment from Ovation, assuming that the FDA accepts the ATryn BLA for review during the quarter.
--3Q08/4Q08 will benefit from a $3M reimbursement by LFB for the companies’ joint venture. (This is in addition to the $3M reimbursement from LFB during 2Q08.)>>>
Just to confirm....
The above Ovation and LFB payments ($8M total) are not included in the $14M calculation. Therefore, GTC has enough cash to make it through the end of the year ($12.2M + $8M = $20.2M vs. $14M) leaving $6.2M at the end of Q408 assuming the Ovation deal closes and the FDA accepts the ATryn BLA. Based on the current burn rate GTC should have approximately enough cash to make it through the next three quarters. Right?
10nis
ELN is down to $10 and change WHOOPS... Make that single digits. Will it go back down to $3 yet again. Amazing.
10nis
BIIB & ELN...
Down big afterhours yet again...
*DJ Biogen Notifies Regulators Of Issues With TYSABRI >BIIB
This is the only information I see so far...
10nis
CROU....
<<This one is getting hairy already>>
You really need to get off the sauce or Propecia or whatever you're taking...
<<This one is getting hairy already because on June 23 they said: "The agreement between GTC and OVATION, which is expected to close within 30 days, is subject to certain closing conditions, including Hart-Scott-Rodino review."
If the deal does not close within the next three days I expect some nervous investors to start bailing out...>>
The deal will close and if it closes on July 24 or 25 or 28 vs. July 23 nobody will care. It says it expects to close within 30 days... Most normal/sane/rational people would assume that the above statement doesn't mean the deal will close within exactly 30 days but somewhere close to 30 days.
10nis
<<Why should they step up to the plate? GTCB is not going into bankruptcy and so their deals with GTCB will continue even if the stock suffers much further. Also, with regard to someone taking over GTCB for a song, that does not affect the partners either because their contracts will continue with the new ownership...
The only way one of those partners would step up to the plate is if GTCB's market cap becomes so pitiful that it would make sense for one of them to take us over for a song and save themselves the headache of having to pay GTCB anything else in the future...>>>
Doesn't LFB have a 19.9% ownership stake in GTC? One would think they have an interest in seeing a return on that investment.
10nis
RS example...
SQNM is also a good example of a great performing stock after a RS.
<< What about all the biotechs that have been picked over for months and months and no bids? For every one big premium deal there's probably 25 that aren't happening. Everyone is for sale right now. >>
Who cares about all the other biotechs...I sure don't. Of course for everyone big premium there are smaller premiums paid, however, the key fact is big premiums are being paid.
Everyone is for sale? Tell that to Icahn.
<< So if a buyout for GTCB comes in at an average of 125%,
shareholders would get .90. I would break even, which
may be the best I could hope for considering that if there
is no deal announced .25 is likely. >>
Why would you use an average take-out premium? The whole point is take-out premiums have been and continue to be large and it wouldn't be out of the realm of possibility for GTCB to see a 200-300+% take-out premium. MEDE was taken out at a 400+% premium this week.
Also, why do you throw out some random 0.25 is likely? Why 0.25 vs. 0.20 or 0.30?
I think longs have every right to be pissed and disappointed however lets just relax and see what happens at the annual meeting and beyond.
10nis
>>Are you saying that GTCB management would not accept a takeover offer that gets shareholders $0.80 a share if the current share price is $0.40 a share?<>>
To add to Dew's comment in the previous post, no potential acquirer would offer $0.80/share to acquire GTCB at its current price. The offer would offend the board and would kill any rapport the acquirer had with the Company. Most negotiations start with a simple question - what would the board consider? GTCB says a number ($1.50, $2, $4, etc.) and discussions continue further or they don't. If GTC were to get acquired I would be shocked if it wasn't for at least a 200-300+% premium to today's closing price, FWIW.
10nis
Turnover...
Could today's action be due to index funds changes? I don't know if GTC is in an index but if it is being deleted from one it could explain the drop. Anyone have any thoughts?
TIA,
10nis
Today's action...
Could GTC's share price be down today because some relatively large shareholder thinks that Pharming's positive news is bad news for GTC and is dumping shares?
10nis
Pharming
With Pharming's stock jump today, its perfect timing for it to purchase GTC on the cheap.
Who else is buying more GTC today?
10nis
QUIZ - Answer
What is the number of unique ways to get exactly 270 electoral votes?
10nis