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Friday, September 25, 2009 9:04:28 AM
ROCKVILLE, Md. (TheStreet) -- In June, I spoke with two health care hedge fund analysts who laid out the bull and bear case on Vanda Pharmaceuticals(VNDA Quote) after the company surprised everyone by receiving regulatory approval for its schizophrenia drug Fanapt.
More from Adam Feuerstein Biotech Mailbag: Myriad PharmaFDA Approves Allos Lymphoma Drug: BioBuzzDendreon Investor Meeting: Provenge Sales Guidance for Six Months 2010Onyx Pharma CEO Mum While Stock Sinks: BioBuzzOnyx Breast Cancer Drug Continues to Dazzle: BioBuzzSpectrum Heeds Biotech's Golden Rule: BioBuzzBioCryst and the Financially Limber Analyst: BioBuzzDendreon Hot Going into Thursday's Investor Meeting: BioBuzzCell Thera Tries Bait-and-Switch With OpaxioNexavar Side Effect Affects Onyx Trading: BioBuzz Market Activity VNDA DOWNThe big debate back then -- and still today -- is whether Vanda will be acquired by a large drug company seeking an easier path into the competitive but lucrative schizophrenia treatment market. Well, it's been three months since I wrote that story. At the suggestion of a reader, I contacted the same two analysts again to see if their respective bull and bear positions in Vanda had changed, and if so, why.
Sure enough, "Mr. Bull" sold his position in Vanda and is no longer as bullish.
"I simply can't understand why they [Vanda] have not been bought at this point. Seems that if it hasn't happened by now, it's not going to happen, particularly at a huge premium," he told me, via email.
"Mr. Bear" is still growling, although he covered his short position. Which means he growls from the sideline, I guess.
"I'm not short anymore, but I still feel the same away. Fanapt is a me-too drug with no differentiation that will not do well in this [schizophrenia treatment] market," he told me during a recent phone call.
If he's so sure, why not remain short Vanda?
"We covered because I heard talk of Novartis(NVS Quote) being interested in Vanda, but that was back in July," he said, adding that since that time, he's become reasonably confident that Novartis has decided against buying Vanda and he doesn't believe it has any other suitors.
Recent VNDA News
- Vanda Pharmaceuticals Board of Directors Determines that Recent Unsolicited Takeover Proposals Are Not in the Best Interests of the Company and its Shareholders • PR Newswire (US) • 06/20/2024 12:48:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 08:38:04 PM
- Vanda Pharmaceuticals Confirms Receipt of Revised Unsolicited Takeover Proposal from Future Pak • PR Newswire (US) • 06/13/2024 02:02:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 08:30:57 PM
- Vanda Pharmaceuticals Confirms Receipt of Unsolicited, Non-Binding Indication of Interest from Cycle Group Holdings Ltd. • PR Newswire (US) • 06/06/2024 01:24:00 PM
- Vanda Pharmaceuticals Announces Participation in the Jefferies 2024 Global Healthcare Conference • PR Newswire (US) • 05/30/2024 09:20:00 PM
- Vanda Pharmaceuticals Announces Completion of Transfer of FDA Marketing Authorization for PONVORY® • PR Newswire (US) • 05/30/2024 08:48:00 PM
- Vanda Pharmaceuticals Announces Presentations at SLEEP 2024 • PR Newswire (US) • 05/29/2024 06:17:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:49:41 PM
- Vanda Pharmaceuticals Board of Directors Determines that Revised Unsolicited Takeover Proposal is Not in the Best Interests of the Company and its Shareholders • PR Newswire (US) • 05/24/2024 08:46:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:43:11 PM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 05/24/2024 08:31:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:55:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:53:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:52:54 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/21/2024 08:34:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/20/2024 09:26:51 PM
- Vanda Pharmaceuticals Reports Positive Results from a Second Phase III Study of Tradipitant in Motion Sickness • PR Newswire (US) • 05/15/2024 12:45:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/13/2024 08:15:59 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/09/2024 09:15:58 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 11:07:02 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 08:06:04 PM
- Vanda Pharmaceuticals Reports First Quarter 2024 Financial Results • PR Newswire (US) • 05/08/2024 08:01:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:51:10 PM
- Vanda Pharmaceuticals Confirms Receipt of Revised Unsolicited Takeover Proposal from Future Pak • PR Newswire (US) • 05/07/2024 03:16:00 PM
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