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Re: Simple Steve post# 37921

Wednesday, 10/11/2017 4:00:04 PM

Wednesday, October 11, 2017 4:00:04 PM

Post# of 108192
Allergan is paying a stunning 500% premium to buy a clinical-stage biotech

Published: Sept 21, 2016 6:53 a.m. ET

What should a biotech investor make of Allergan PLC’s announcement Tuesday that it had reached an agreement to buy Tobira Therapeutics Inc. at an eye-popping premium of more than 500%?

The news propelled Tobira’s stock a stunning $34, or 721%, higher. It closed at $38.91 to mark its biggest-ever one-day price and percentage gains. The company’s market capitalization has shot up to $732 million from $89 million at Monday’s close.
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