I also must say that it is a little bit sad to see the Onyx story come to an end, the share appreciation aside. It was exciting to see this company progress, launch a new franchise, and become part of a big pharma co.
My shares were in the $37's back in March of last year. Like Vin, very grateful for being a part of Onyx's transformation after the carfilzomib approval. Congratulations to Dr. Coles for a job well done, and to the long time shareholders as well.
Who would you believe?
An unnamed source who 1) would face no consequences if their statement was false (unintentionally or intentionally) 2) is included in a story by Reuters, which previously incorrectly reported that Pfizer had pulled out of the bidding.
Or, Tony Coles, the CEO/Chairman of the company, who confirmed that there are ongoing talks with multiple parties on a broadcasted earnings call? Think about the liability and consequences he would face if the statement were not true... The man is smart and by all accounts a man of character.
This one is a no-brainer.
Tony Coles made it clear in the opening remarks that they would not be answering any questions regarding the negotiations. One analyst did ask a question about retention of key employees during the negotiations, but that was as far as it went. It's very unlikely that the company will say anything more officially until there is a deal in place.
I am skeptical about the recent news reports from Reuters. They were the first to report that PFE had bowed out from the bidding, and this was later countered by a Bloomberg report that PFE was still in the bidding.
And Reuters was again the first to report that AMGN's latest bid of $130 was going to be accepted soon. I take these reports with a healthy amount of skepticism.
The author of the article also discloses he is short ONXX right up front. Take it with a big grain of salt.
Apparently some options traders made $4.6 million the week before the M&A offer. Glad to hear they're cracking down on these shady activities.
Bad boy, bad boys, whatcha gonna do...
That's exactly how it feels, though I've read much more than posted over the past year.
And yes, the pumping of other stocks is pretty amusing. I guess we will have more money to invest once this whole story plays out.
One interesting point raised by the article included below. The long-expected buyout many have been speculating may actually be coming...
Enjoy the weekend, guys!
Sources have indicated that if and when the matter of Amgen’s potential interest in Onyx emerges, then a slew of other potential buyers would enter the fray. The reason: Onyx is now in play and hence represents a possible acquisition target.
And in a world of Big Pharma, all sorts of possibilities could emerge. Sources have indicated that Swiss-based F. Hoffman-LaRoche AG; U.S.-based Eli Lilly & Co.; Germany’s Bayer AG; Japan’s Takeda Pharmaceutical Co. Ltd.; U.S.-based Bristol-Myers Squibb; U.S. based Baxter International., and Paris-based Sanofi could be among the interested parties.
John, this is what you're actually saying: "On a day when some stocks went up, some stocks went down."
Focus on the fundamentals, and stop worrying about daily fluctuations.
I believe the story was accurate - WSJ and a number of other sources noted that overall survival was not improved, but it did nearly double the length of progression-free survival. Overall I believe the news is net positive, especially since this may be the first new therapy approved in 40 years.
No worries - I thought there might be a new development in the Pfizer relationship. 8% on a projected $5B peak annual treatment is still something to be excited about.
Where is the 10% royalty figure from? They have only mentioned an 8% royalty structure from their previous earnings calls and public presentations.
Nice interview, and gives a personal perspective on why he's in the business.