Today's deal gave Cardiome and unexpected free gift of $30,000,000 cash! This 30M was due to Merck with an extra 7M interest. As of today, it has been completely wiped out! That, by itself, should immediately add fifty cents to each share. This stock should not be traded for less than one dollar before the end of this week. More importantly in today's news, is the fact that Cardiome took a forward step to workout the transfer of Vernakalant back to Cardiome. Today's news will open the door widely to complete the transfer of the manufacturing, distribution, promotion, clinical trials, and regulatory affairs of this product. Transferring these duties should be completed by March 31, 2013, on or before the day Cardiome will pay back the 20M.
Uncertainties have been used by SHORTS to destabilize the price of the shares. Now, the facts will rule!
#1 Completion of separation from Merck willbe finished before March 31, 2013
#2 As of today, Cardiome is debt free.
#3 As of today, Cardiome has $35,000,000 cash.
#4 As of today, Cardiome owns one of the most important heart drugs in the world and is marketing it
in 42 countries around the world.
#5 As of today, Cardiome is in the last stage of phase 3 with the FDA and final approval will be filed
for as soon as Merck retuirns regulatory affairs to Cardiome.
#6 To the best of my knowledge, since Cardiome officially announced their desire for a
new partnership, they received several offers. However, they cannot legally announce or proceed
with any of them until everything is completed in March.
#7 SHORTS and daily traders can no longer use uncertainties to weaken this stock! They may use
rumors and lies, but not facts!
Sentiment: Strong Buy