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Good CC.
Less cash utilization and beat the street!review process going forward as scheduled.
TZYM $0.5688. They move it higher. Great deal of manipulation. Ask lower than than trade sale prices. Holding.
DCTH Looking good. Adding!
Roco;
thnx!
My under radar already.
mborn
Positive Alpha article: Cash and revenues will cushion off fall and Phizer will discuss 2 drugs with FDA by the end of March this year. looks good.
http://seekingalpha.com/article/1243891-for-durect-investors-cash-and-revenues-limit-downside?source=yahoo
Yep. GALE and RXII splinters from PoS CYTR. Chain store skin beauty operator Dr. Frost is an investor and he stuck OPKO intellectual property into RXII at very costly deal .
RXII will issue 50 million more shares to Dr. Frost. I guess he is not making enough from ladies who want to to look younger and "prety".
Imagine!
Will get in if it pulls back a little bit.
GL
RXII Stox sale @0.145 up 5 cents already.$0.195 now. Interesting reversal from low $0.08s, Dr Frost of TEVA investors , TANG capital etc. in too. Must be at its intrinsic value for "insiders" now!
Good board; highly needed.
thnx
GL
mlkrborn
Second short pricks' pounding underway. Next leg $2.50s.
Long here too..
GLLs
BSr
Where do they mention R/S. Tell us your short position first.
Columbia Laboratories Extends Stockholder Rights Plan to Preserve Use of Net Operating Losses under Section 382
Last update: 3/6/2013 6:50:00 AM
LIVINGSTON, N.J., Mar 06, 2013 (BUSINESS WIRE) -- Columbia Laboratories, Inc. (CBRX) (the "Company") today announced that its Board of Directors on March 1, 2013 adopted an amendment to its Stockholder Rights Plan (the "Rights Plan"), originally adopted on March 12, 2002, to extend the expiration date of the Rights Plan from July 3, 2013 to July 3, 2016 to preserve the value of significant tax assets associated with the Company's tax net operating loss carryforwards ("NOLs") under Section 382 of the Internal Revenue Code. The Company's 2013 Proxy Statement will include a non-binding advisory proposal asking the Company's stockholders to ratify the extension of the expiration date of the Rights Plan from July 3, 2013 to July 3, 2016. If the Company's stockholders do not ratify the amendment, the Company's Board of Directors will decide how to proceed.
The Company has NOLs totaling approximately $156 million as of December 31, 2012. United States Federal income tax rules, and Section 382 of the Internal Revenue Code in particular, substantially limit the use of those tax assets if the Company experiences an "ownership change." Ownership changes under Section 382 generally relate to a cumulative change in ownership among stockholders with at least a 5% ownership interest (as determined under the rules of Section 382) of more than 50% over a rolling three-year period. The Company's current cumulative change in ownership among stockholders with at least a 5% ownership interest (as determined under the rules of Section 382) is approximately 35.7% as of December 31, 2012.
Pursuant to the Rights Plan, if any person or group (subject to certain exceptions specified in the Rights Plan) acquires 4.99% or more of the outstanding shares of Common Stock, or if any current 5% stockholder were to acquire additional Common Stock other than by exercising or converting existing equity-linked securities, without the prior approval of the Company's Board of Directors, a significant dilution in the voting and economic ownership of such person or group would occur.
The amendment to the Rights Plan was not adopted primarily as an anti-takeover measure. The Board of Directors may terminate the Rights Plan at any time prior to the rights being triggered. Further, if the Board of Directors determines that the NOLs have been substantially realized, are no longer substantially available, or would otherwise not be adversely impacted by an ownership change, the amendment will be rescinded.
About Columbia Laboratories
Columbia Laboratories, Inc. is a publicly traded specialty pharmaceutical company with a successful history of developing proprietary, vaginally administered products for women's health indications. The Company receives sales and royalty revenues from CRINONE(R) 8% (progesterone gel), which is marketed by Actavis, Inc. in the United States and by Merck Serono S.A. in over 60 foreign countries.
You got your azz kicked the way you lost in MTG shorting. When will you learn your lesson? Have some decency to disclose your position first instead of trying to scare people for their cheap shares. Why dont you short again?
SIFI buying: $11.54 today :
Newport Bancorp to be acquired by SI Financial (SIFI) for $17.55 per share in cash or 1.5129 shares of SIFI common stock; SIFI expects the transaction to be immediately accretive to its earnings per share, excluding one-time transaction expenses (NFSB) 15.77 -0.75 : The acquisition will add to SI Financial Group approximately $449.4 million in assets, $355.0 million in loans and $289.7 million in deposits before acquisition accounting adjustments.
MGIC Investment Announces Public Offerings of 135 mln shares of common Stock and $350 mln of convertible senior notes due 2020 (MTG) 5.34 +1.16 : Co announced today that it has commenced a public offering of 135 million shares of its common stock and $350 million aggregate principal amount of its convertible senior notes due 2020. The convertible senior notes will be convertible into shares of the Company's common stock. The Company intends to grant to the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares offered and an option to purchase up to an additional $50 million aggregate principal amount of the convertible senior notes. The Company intends to use the net proceeds from the offerings for its general corporate purposes, which may include increasing the capital of the Company's insurance subsidiary Mortgage Guaranty Insurance Corporation (MGIC) and other subsidiaries of the Company, and improving liquidity by providing funds for debt service.
Down to $15? stock halted: "AeroVironment misses by $0.21, misses on revs; guides FY13 EPS below consensus, revs below consensus.. stock is halted (AVAV) 21.69 -0.16 : Reports Q3 (Jan) earnings of $0.17 per share, $0.21 worse than the Capital IQ Consensus Estimate of $0.38; revenues fell 34.6% year/year to $47.1 mln vs the $88.8 mln consensus."briefing
UPDATE: Jefferies Initiates Anthera Pharmaceuticals at Buy on Blisibimod Outlook
8:26a ET March 5, 2013 (Benzinga)
Jefferies initiated coverage on Anthera Pharmaceuticals (NASDAQ: ANTH) with a Buy rating and a $2.00 price target.
Jefferies noted, "Despite conducting a well randomized Phase II trial, and improving its Phase III odds by identifying a more targeted lupus patient population, Anthera trades at a ~$50 million EV (v our 2023 b-mod sales est of $503M). Key interim catalysts over the next 12-18 mos may be value drivers and may provide additional evidence of efficacy in lupus, and potentially provide first data in orphan IgA nephropathy."
Anthera Pharmaceuticals closed at $0.57 on Monday.
Nymox Pharma provides current Phase 2 prostate cancer clinical trial update: trial has reached halfway point in patient recruitment, no serious or unexpected advers effects (NYMX) 5.15 +0.16 : Co provided an update on U.S. Phase 2 prostate cancer clinical trial activities for NX-1207, the company's new investigational drug being tested for early stage prostate cancer. The prostate cancer trial has reached the halfway point in patient recruitment. Safety assessments to date have been positive with no serious or unexpected adverse effects related to the drug. The NX03-0040 prostate cancer clinical study of 150 men is testing low (2.5 mg) and high (15 mg) single doses of NX-1207 for the effect to eradicate or shrink low grade localized prostate cancer tumors. NX-1207 is also in Phase 3 clinical trials in the U.S. and Europe for the treatment of benign prostatic hyperplasia (BPH).
MSON $6 Misonix BoneScalpel highlighted in new clinical paper aimed at face and jaw surgery; noted that it offers a safe and efficient method to create precise cuts during the transection of bone during reconstructive surgery of the jaw and face (MSON) 6.01 : Co announced a new clinical paper accepted for publication by "The International Journal of Oral & Maxillofacial Surgery," a well-respected, peer-reviewed journal. Entitled "Ultrasonic Orthognathic Surgery; Enhancements to Established Osteotomies," authored by Gilles, Couvreur and Dammous, from the Department of Oral and Maxillofacial Surgery, Clinique de Esperance, Montegnee, Belgium, the clinical paper is circulated to leading oral, maxillofacial and reconstructive surgeons.
It was noted that the Misonix? BoneScalpel Ultrasonic Bone Cutter (osteotome) offers a safe and efficient method to create precise cuts during the transection of bone during reconstructive surgery of the jaw and face, generally required as a result of birth defects and other abnormalities.
MARKET TALK: Lloyds Pretax Profit Beats Expectations - Shore
Last update: 3/1/2013 3:00:00 AM
0800 GMT [Dow Jones] Lloyds Banking Group's (LLOY.LN) pretax profit is ahead of expectations says Shore Capital following the bank's FY results. Shore says this is primarily due to lower-than-anticipated impairments within the non-core division. However, today's numbers are flattered by the one off Gilt disposal gains and weaker-than-anticipated tangible NAV, which may sour the market's view Friday. Lloyds remains Shore's preferred play in the domestic banking space. Keeps buy recommendation. Shares closed Thursday at 54.47p. (andrea.tryphonides@dowjones.com Twitter: @ATryphonides)
Reported: $4.5 b net profits:
Freddie Mac reports Q4 net income of $4.5 bln; No additional Treasury draw required in Q4 (FMCC) 0.28 -0.05 :
Fourth quarter 2012 net income and comprehensive income totaled $4.5 billion and $5.7 billion, respectively. The increase primarily reflects a shift from a provision for credit losses in the third quarter to a benefit for credit losses in the fourth quarter due to a decrease in the volume of newly delinquent single-family loans and continued improvement in national home prices, as well as a higher income tax benefit primarily driven by the favorable resolution of tax matters with the Internal Revenue Service (IRS).
No Additional Treasury draw required for the fourth quarter of 2012; based on net worth of $8.8 billion at December 31, 2012, the company's dividend obligation to Treasury will be $5.8 billion in March 2013.
Paid $7.2 billion to taxpayers through dividends in 2012, bringing the cumulative total paid since conservatorship to $23.8 billion -- or 33 percent of the company's cumulative draws.
Post-2008 book of business grew to 63 percent of single-family credit guarantee portfolio in 2012 -- of which 11 percent of that portfolio were HARP loans.
Delinquency rates remained below industry benchmarks:
Single-family serious delinquency rate was 3.25 percent
Multifamily delinquency rate was 0.19 percent.
Beginning in 2013, the August 2012 amendment to the Purchase Agreement replaced the fixed 10 percent dividend rate with a net worth sweep dividend and suspended the periodic commitment fees. Under this amendment, Freddie Mac is required to pay dividends to the extent that its Net Worth Amount, as defined in the Purchase Agreement, exceeds the permitted capital reserve. The amount of the permitted capital reserve is $3 billion in 2013 and will be reduced by $600 million each year thereafter until it reaches zero in 2018. The amendment effectively ends the circular practice of taking draws from Treasury to pay dividends to Treasury.
Based on Freddie Mac's Net Worth Amount at December 31, 2012, the company's net worth sweep dividend obligation to Treasury in March 2013 will be $5.8 billion.
Beginning January 1, 2013, the amount of remaining funding available to Freddie Mac under the Purchase Agreement with Treasury is $140.5 billion.
Fredy man (FMCC) net profit $4.5 B. and no need to draw down money from his uncle.
Freddie Mac reports Q4 net income of $4.5 bln; No additional Treasury draw required in Q4 (FMCC) 0.28 -0.05 :
Fourth quarter 2012 net income and comprehensive income totaled $4.5 billion and $5.7 billion, respectively. The increase primarily reflects a shift from a provision for credit losses in the third quarter to a benefit for credit losses in the fourth quarter due to a decrease in the volume of newly delinquent single-family loans and continued improvement in national home prices, as well as a higher income tax benefit primarily driven by the favorable resolution of tax matters with the Internal Revenue Service (IRS).
No Additional Treasury draw required for the fourth quarter of 2012; based on net worth of $8.8 billion at December 31, 2012, the company's dividend obligation to Treasury will be $5.8 billion in March 2013.
Paid $7.2 billion to taxpayers through dividends in 2012, bringing the cumulative total paid since conservatorship to $23.8 billion -- or 33 percent of the company's cumulative draws.
Post-2008 book of business grew to 63 percent of single-family credit guarantee portfolio in 2012 -- of which 11 percent of that portfolio were HARP loans.
Delinquency rates remained below industry benchmarks:
Single-family serious delinquency rate was 3.25 percent
Multifamily delinquency rate was 0.19 percent.
Beginning in 2013, the August 2012 amendment to the Purchase Agreement replaced the fixed 10 percent dividend rate with a net worth sweep dividend and suspended the periodic commitment fees. Under this amendment, Freddie Mac is required to pay dividends to the extent that its Net Worth Amount, as defined in the Purchase Agreement, exceeds the permitted capital reserve. The amount of the permitted capital reserve is $3 billion in 2013 and will be reduced by $600 million each year thereafter until it reaches zero in 2018. The amendment effectively ends the circular practice of taking draws from Treasury to pay dividends to Treasury.
Based on Freddie Mac's Net Worth Amount at December 31, 2012, the company's net worth sweep dividend obligation to Treasury in March 2013 will be $5.8 billion.
Beginning January 1, 2013, the amount of remaining funding available to Freddie Mac under the Purchase Agreement with Treasury is $140.5 billion.
BKIR closed $0.132 euro today. Two factors at work impacting share price in my opinion: Subordinated bond holders which were hit insisting on legal course, which is negative. Govt will end its bank guarantees by the end of march which seems positive to me. Adding on weakness to both IRE and IRLBF positions.
BKIR closed $0.132 euro today. Two factors at work impacting share price in my opinion: Subordinated bond holders which were hit insisting on legal course, which is negative. Govt will end its bank guarantees by the end of march which seems positive to me. Adding on weakness to both IRE and IRLBF positions.
AIBYY.OTC stock and still trading as such: $.90 today. AIB was given to another company.
BKIR 0.132 EURO.
ADDED to both IRE and IRLBF .
two developments at work: Govt ending bank guarantee program; Subordinate bond losers will legally challenge banks for compensation for their loses.
Here is the article for the first news:
Government to end bank guarantee on 28th March
12:55, 26 February 2013 by Post Reporter
Finance minister Michael Noonan.
The Minister for Finance Michael Noonan has announced that the Bank Guarantee will end for all new liabilities from midnight on the 28th March 2013.
The announcement came following a decision by the Cabinet earlier today. Noonan commented to reporters that the removal of the guarantee will not lead to a capital flight from Irish banks.
Read the government's full statement here.
After 28th March, no new liabilities will be guaranteed under the Eligible Liabilities Guarantee Scheme (ELG) Scheme, as it is known. The ending of the ELG for new liabilities after the 28th of March 2013 marks a significant step in the normalization of Ireland’s banking system, said a statement from the Department of Finance.
The statement stressed that today’s announcement does not impact the vast majority of bank customers as their deposits are covered by the Deposit Guarantee Scheme or DGS – a separate guarantee which has been in operation in Ireland since 1995 and is part of an EU-wide arrangement for deposit protection.
“The Irish banking system failed the Irish people and the mismanagement of the banks and the crisis has cost the Irish taxpayer €62 billion,” finance minister Michael Noonan said. “All of the Government actions since taking office in March 2011, both at home and abroad, are designed to repair this damage and break the negative link between the banks and the State. We are making significant progress in this regard and the ending of the Guarantee for new liabilities marks another step forward.”
In a statement, AIB welcomed the decision which it said further demonstrates the ongoing improvement in the stability of the financial system in Ireland. The bank said that its funding position has continued to improve due to customer deposit flows, progress in deleveraging, together with successful returns to the funding markets both in 2012 and January 2013.
“The ELGS was introduced as a measure to stabilise the financial system at a time of unprecedented market turbulence, which is no longer evident," said AIB chief executive David Duffy. "We welcome the announcement today and expect that this move will have a positive impact on the operating performance of AIB over time as the bank returns to long term sustainability.”
…
BSDM $1.36 BSD Medical announced a 319% increase in sales of its MicroThermX Microwave Ablation System disposable SynchroWave antennas during the first five months of fiscal 2013, when compared to the first five months of fiscal 2012 sales of its SynchroWave antennas.
NEW LIFE? $0.43
novation for its cGMP clinical drug facility : NEW LIFE? $0.43
NanoViricides announces that renovation for its cGMP clinical drug facility has begun; also addresses shareholder concern - knows no reason for the price drop yesterday (NNVC) 0.32 : Co announced that the renovation of the facility for its new clinical scale cGMP production plant has begun. Co reports that its project for enabling clinical scale drug product cGMP capability has reached a new milestone with the commencement of renovation of the facility at 1 Controls Drive in Shelton, CT. The design of this facility allows a very high degree of customization of the production process. This facility is thus expected to enable cGMP production of all of the Company's several nanoviricide drug candidates, in various delivery forms ranging from injectables, oral, eye drops, to skin creams.
On Feb 25, an unusual pattern in the trading of the Company's common stock was brought to its attention by concerned shareholders. This highly unusual pattern involved selling of very large amounts of the Company's common stock shares in a short time prior to the close of trading, leading to a large drop in the share price. The Company does not have any knowledge of who the sellers were. The Company advises that it is unaware of any fundamental basis for such an unusual trading pattern or the associated share price drop. The Company has no knowledge of any business related events or of any fundamental changes in its business, programs or technology developments, that would constitute an adverse business event. All of the Company's programs are on track, and the Company has sufficient cash in hand to execute on its current plans.
Assisted Living Concepts sold for $278M to TPG
Assisted Living Concepts to be acquired by investment firm TPG in $278 million deal
Associated PressAssociated Press – 1 hour 43 minutes ago
RELATED QUOTES
Symbol Price Change
ALC 11.85 2.15
MENOMONEE FALLS, Wis. (AP) -- Senior living facility operator Assisted Living Concepts Inc. said Tuesday it agreed to by acquired by private investment firm TPG for about $280 million.
Assisted Living Concepts said TPG agreed to buy it for $12 per Class A share and $12.90 per Class B share. That comes to approximately $278.3 million in cash based on the company's most recent share count. ALC said its board has unanimously approved the sale, and so has the special committee that was reviewing the company's strategy.
Shares of Assisted Living Concepts jumped $2.18, or 22.5 percent, to $11.88 in midday trading. The stock is down 45 percent since May 10, when the company said it would delay is first-quarter report because it had found possible irregularities related to leases.
Assisted Living Concepts runs 210 facilities in 20 states. The company has been reviewing its strategy and is trying to address operational problems that have hurt its admissions. It fired CEO Laurie Bebo at the end of May and hired Dr. Charles H. "Chip" Roadman II, a former surgeon general of the U.S. Air Force, as its interim CEO.
The company also took a loss over the first nine months of the year because of legal and regulatory costs, lease termination costs, and other charges. Its revenue fell 2 percent to $171.4 million over that period.
Good response. I agree with you on price moves.
GL
Stox, warants sale @$0.95. This must be the intrinsic value for insiders.
EnteroMedics priced an underwritten public offering of 13.77 mln shares of its common stock and warrants to purchase 5.508 mln shares of its common stock (ETRM) 0.93 : Co announced each share of common stock sold in this offering will be sold with a warrant to purchase 0.40 of a share of common stock. Each share and corresponding warrant will be sold at an aggregate price to the public of $0.95, for gross proceeds of $13,081,500. The net proceeds from the sale of the shares and corresponding warrants, after deducting the underwriter's discounts and other estimated offering expenses payable by the Company, will be approximately $12.0 million. The warrants are exercisable for a period of five years beginning on the closing date of the offering at an exercise price of $1.14 per share (120% of the aggregate offering price for a share of common stock and corresponding warrant).
SMA REPORTED $10 Symmetry Medical misses by $0.01, misses on revs; guides FY13 EPS in-line, revs in-line (SMA) 11.18 : Reports Q4 (Dec) earnings of $0.17 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.18; revenues rose 26.2% year/year to $106.6 mln vs the $107.85 mln consensus. Gross margin was 27.1% compared to 16.4% year ago. Co continued debt reduction; leverage ratio at 3.3
Guidance:
Co issues in-line guidance for FY13, sees EPS of $0.67-0.79, excluding a negative $0.03 impact of the Medical Device Excise Tax in SG&A expense, vs. $0.77 Capital IQ Consensus Estimate; sees FY13 revs of $420-440 mln vs. $437.18 mln Capital IQ Cons
Errett;
Great work.
Thnx a lot!
GL
mlkr
HarleyDavison man; yes I did as new year bounce biotech candidates along with a few more ANTH, etc,
Errett;
very good post; abstract is copyrighted in 2003. Are these the most recent results? surviving segment of sample is very significant, which would have by itself justified approval. Why didnt? What is dfferent in upcoming reconsideration for new decision making process.
Are you in?
tia
mlkr
CHTP did it; $2 now. 160 percent gain. Took most off the table. Still holding some. 28 m volume day. FDA guides them for reapplication in last quarter of '13
EnteroMedics names Greg S. Lea Chief Operating Officer (ETRM) 1.16 : Co announced that Senior Vice President and Chief Financial Officer Greg S. Lea has been appointed Chief Operating Officer.
contract proposal submitted: $1.80 today
Soligenix submits BARDA contract proposal for development of OrbeShield in GI ARS (SNGX) 1.88 : Co announced submission of a full contract proposal to the Biomedical Advanced Research and Development Authority Division of Chemical, Biological, Radiological and Nuclear Medical Countermeasures. This submission supports a potential multi-year, multi-million dollar contract to develop OrbeShield (oral beclomethasone 17,21-dipropionate or oral BDP) as a medical countermeasure for the treatment of gastrointestinal acute radiation syndrome (GI ARS).
Raising funds: 0.50 today :" Cytomedix to raise up to $27.5 million as part of a comprehensive 2013 financing plan (CMXI) 0.65 : Co announced today the execution of a comprehensive financing plan for 2013. Included in these executed transactions is a tranched $7.5 million senior secured term loan facility, a $5 million equity raise, and a $15 million committed equity facility. The initial fundings position Cytomedix to confidently execute on its 2013 operational business plan.
In its 8-K filed on February 20, 2013, the Company reported fourth quarter product sales of $2,037,717, representing an increase of 27% over the same period in 2011 and a 20% sequential increase over the third quarter of 2012. The Company cautions shareholders and potential investors in the Company's securities that the above-referenced financial data relating to the fiscal quarter ended December 31, 2012 should be considered preliminary." Briefing
Good fundamentals. One major catalyst possibility--:bigie Watson appealing FDA's decision will bounce it above $1.00 as the Alpha author speculates. He is is also optimistic about TZYM, ZGNX, CLSN.
Holding it.