The buyout looks to me like classic VPHM - buy a cash cow and milk it while working on other drugs - this time Camvia. The business model allows funding of development without the need to dilute the holders. I like that. They still MUST develop something with the money.
The deal also seems favorably priced for the buyer. I owned the selling company. Still better than a loss anyday.
LEVP at the close is still pretty cheap from a merger arb perspective.
I also am again long VPHM which when it fell under the collar this morning looked irresistible.
zip
There are times when rules and precedents cannot be broken; others when they cannot be adhered to with safety. (Thomas Joplin)
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.