Disclaimer: Had to pull the cached version of this out; original version deleted.
Human Genome Sciences Spokesperson Comments on Recent Rumors
By Greg Chalmers
Benzinga Staff Writer
October 19, 2011 12:09
Jerry Parrott, Vice President of Corporate Communications for Human Genome Sciences (NASDAQ: HGSI), commenting on recent rumors, says the company has a long-standing relationship with GlaxoSmithKline (NYSE: GSK) going back to 1993. And the company's relationship with Goldman Sachs (NYSE: GS) goes back more than a decade. Rumors pop up from time to time, but company has no other comments.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
It's hard to tell but look like after comment, There was spike (Price go up from 13.75 to 15+ & drop later to 14) and volume go up significant but later it dry up so everyone expecting deal anouncement on Wednesady. volume become more normal on thursday and friday and stock stop going up so look like either deal fall part (HGSI refuse $25 offer and GSK either not agree to pay more or considering counter offer.) or Market (Specially short hedge fund) assume there is no Buyout comming. As I mention before, We don't need buyout, We will do just fine or better without it. Benlysta will be success.
There is the confirmation...in black and white...."Rumors pop up from time to time...no other comment"....you can't get any better confirmation than this.
Friday will bounce much of the morning and buying / short covering will happen in the afternoon...Expect close at +15.
God luck to all the longs!
GSK is partner with Human Genome Sciences on the drug, Benlysta. Earlier this year, Benlysta was approved by the US Food and Drug Administration to treat Lupus, a chronic auto immune disease that can affect the joints and almost every organ in the body, the first approval in over 50 years to treat that condition. Global expectations are skyscraper- high for the product, especially since it is licensed to GSK for commercialisation.
Market rumours: GSK could launch a $25 a share cash offer for Maryland-based Human Genome Sciences
With European approval for Benlysta expected soon and rumours that Merck and Biogen are also sniffing around the company too, GSK’s Whitty could decide now would be an opportune time to make a move on HGS.
Witty will be questioned about potential
Read more: http://www.thisismoney.co.uk/money/markets/article-2050257/MARKET-REPORT-GlaxoSmithKline-just-tonic.html#ixzz1bKLYR2DN
The article in Benzinga can be disected 100 different ways. He essentially is saying they have a relationship with both GSK and GS, so what and whats new. He also mentions rumors from time to time. Meaning just that, "rumors". Why would he want to state no deal. He just stated it "rumor".