like I said a few months ago....it seems to trade in a band between 6 and 12.....just the oscillations are getting longer
Under the terms of the agreement, Pernix has paid Zogenix $80 million in cash, eliminating the need for a promissory note, and 1,682,086 shares of Pernix common stock, subject to a six-month lock-up. A total of $10 million of the upfront cash payment will be deposited into escrow to fund potential indemnification claims for a period of 12 months. Zogenix is also eligible to receive $12.5 million upon approval of ZX007, a tablet formulation of extended-release hydrocodone with abuse-deterrent properties, which is currently in development in collaboration with Altus Formulation. In addition, Zogenix is eligible to receive cash payments of up to $271 million based on the achievement of pre-determined annual product sales milestones for Zohydro ER and ZX007. Pernix will also purchase a pre-defined amount of Zohydro ER product inventory.
Leerink Partners LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to Zogenix on the transaction.
as you know phil i am very long but I dont think this is going to turn around for a while as their earnings are not goiing to be good and they have not been able to show that they will be able to execute on the Zohydro acquisition, so we have another quarter at best to see what they can do. Sales of treximet are down and we need to see why, It looks to me that the new group of salesmen has not started yet and the training in relation to silenor and treximet seems to be detracting from the other sales force. Hopefully next quarter or the one we are in is a turn around.
jmo, but it's hard to distinguish between manipulation and a complete disregard for the stock. But I can only think this is the naked shorters. If it were a day or 2, maybe people are just getting out, but the day-after-day selling seems coordinated.
So I am watching the bar charts, for a technical buy sign, so far it's very clearly one to avoid. The selling will stop, and there is no way to know when.
With earnings to be released next week, I think PTX management is in the window where they can't do any insider trading. Too close to earnings release. But, if they have any brains and believe in PTX's future, they will buy as soon as they get in the SEC window that allows them to buy.
Seems like everyday it drops a few more points. Selling $130 million in senior notes didn't help us in the short term thats for sure.
yeah that akrx...jeez...had it in the teens...who knew? so you guys like medivation for being bought out huh?
what do you think of akrx? I can't believe I haven't looked at it since it was in the teens. and now IBD thinks it is a phat stock
Sounds like a great dinner. I am making Grilled Cheeses for my little ones and having some leftover steak and a leinenkugels. Tuesday I actually worked. Today Turned out to be a good day with IDRA and ANY trades. Of course RCPT keeps chugging upwards. Enjoy the finer things.
PS - FWIW -Having a Silver Oak wine pairing dinner at my place tonight. I selected the wines, hired a chef and it was his job to come up with the menu to match them up. Only 9 close friends + myself!!
MDVN is my highest probably of being "taken out" positions. 2nd highest is VRTX.
I recently bot FOLD - 2 upcoming catalysts plus a potential take out.
GL with MNTA - I wish they were working on a a Humira biosimilar!!
PS - Don't mention INSY to Patch! :-(