PGS, the only thing I read about Ovation and funding is that they got $150 million back in 2002. But they must have spent some of it by now.
So how much cash does Ovation have and does anyone know their revenues? Since they are private, it isn't as easy to find out.
It isn't like I spend much time on GTCB, it hasn't been a good investment for anyone to own, and I tend to trade puts on stocks like BG. But I was thinking GTC should bottom sometime this year and maybe it would turn up. So I post as a means to stay marginally interested in the issue.
I would still like to see how they will get funded and what the results of the RS are, $3 million (or $5 million by end of year)won't last them long.
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LINCOLNSHIRE, Ill. -- Ovation Pharmaceuticals, a specialty pharmaceutical company that acquires pharmaceutical products and increases their sales through focused sales and marketing activities as well as product improvement and development efforts, announced today that it has received a commitment for up to $150 million in private equity financing. The funds are being provided by GTCR Golder Rauner, LLC, a leading private equity firm that manages more than $4 billion in equity capital.
This funding will enable Ovation to acquire under-promoted branded pharmaceutical products that can benefit from increased sales and marketing efforts and creative life cycle management. Opportunities to acquire these products have been created...
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