AI
Tuesday, July 15, 2008 5:45:17 PM
LEVP: I have owned both LEVP and VPHM.
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
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
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