Joe, everyone should know that 68% of Orex is already owned by institutions.
The float is small. The short has 23 million borrowed shares to cover. Baupost put $100's of Millions recently into Orex. Baupost approved this r/s or it would not be here. There is a lion hiding in the bush and he is not short. Keep watching.
There will be lots of buyers next week. The traders, the short covering 23 million shares, I'll be a buyer and not surprising if Baupost buys another large block like he did a while back (that was in addition to the $165 million investment). Buy time next week.
The short has nothing left to keep his 23 million short shares alive. It is cover time next week.
Not what I was expecting but Baupost has their reasons. The overwhelming largest investor wants this stock higher and now it is up tp Baupost to move it there. How they handle it next week will be fun to watch.
That is correct. Allergan gets no advantage from the stock price whether it is high or low. The price a buyer pays for a company is determined by the value of the company/product to the buyer and we already know Allergan is serious about the product.
Allergan tried to get Contrave with a copycat product but the court blocked that attempt. So now that it is known how much Allergan really wants Contrave - it needs to put a price on the table. Baupost is the big winner when that happens.
Contrave is the combination drug no other company can offer because the combination has been determined to be unique. It has been granted its exclusive patent to run until 2032. It is fully financially backed by Baupost (an additional investment of $165 million in March) and has all the expenses budgeted moving into profit. It has now moved into international sales and already booking a 25% increase in revenue for the year but it doesn't stop there. New partnerships in other countries are to be announced this quarter. Revenue will more than double the US revenue. There is a large BioPharma (Allergan) wanting to sell Contrave and waiting for an offer. Contrave is the top seller in this market and 50% higher than the nearest competitor. It gets better - keep watching.
That's your bash on Orex? Really? Nasdaq gives Orex until April 10, 2017 to move the share above the dollar. The positives are building for Orex and the short needs to cover 23 million shares. Very nice combination for longs.
The short is at a dead-end. He is stuck with 23 milion short shares and can't find retail willing to sell and he has been trying for a while. He is making nothing on his short as it stands - has to pay rent on all those shares - with Orexigen PRs on the way. Contrave is entering the international market this quarter and already has 25% increase in revenue coming from that. There is much more revenue on the way. There are new partners from other countries to be announced in the 3rd quarter. What's left here for the short is to bite the bullet and cover higher than he wants - sooner than later. The clock is running out. Then there is Baupost and the other 70% institutional owners of Orexigen who have no interest in letting a small guy who has 23 million (borrowed) shares mess with their financial interests. Nothing looking good for this short until he covers.
It is distress before the force (Baupost) pushes the pps back to a dollar. The short now has 23 million shares he desperately needs to cover before the runup and virtually no retail sellers. Dangerous times for this short to be playing with fake trades.
Half of EU citizens are overweight. Among these people, serious obesity is on the rise. It's a heavy and expensive burden for national health care systems - and one the EU Commission hopes to stop.
For decades, EU member states have seen obesity levels rise. The UN and World Health Organization (WHO) are now sounding the alarm. Obesity, their recent report says, is becoming an epidemic.
Hungary leads the most recent European statistics, followed closely by Great Britain, Ireland and Malta. In these countries, roughly every fourth citizen is seriously overweight. Throughout Europe, obesity is putting huge strains on national health care systems. Chronic diseases such as hypertension, cardiovascular disease, Type 2 diabetes and certain cancers are further exacerbated by obesity.
The EU Commission sees a need for action. "Even if health care policy falls under the jurisdiction of individual member states, the EU Commission, together with EU member states, would like to fight obesity," said Reinhard Hönighaus, spokesperson for the German delegation of the European Commission, in an interview with DW.
Contrave/Mysimba beginning sales in the EU.......Ready for business......Right Time......Right Product.
If you take a glance at the chart for Orexigen Therapeutics, you'll notice that this stock has been uptrending over the last two months, with shares moving higher off its new 52-week low of 35 cents per share to its recent high of 65 cents per share. During that uptrend, this stock has been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of Orexigen Therapeutics within range of triggering a big breakout trade above some key near-term overhead resistance levels.
Traders should now look for long-biased trades in Orexigen Therapeutics if it manages to break out above Friday's intraday high of 47 cents per share to some more key resistance levels at 50 to 52 cents per share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 2.47 million shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels 60 cents to 65 cents per share, or even 83 cents to $1 a share.
so says "theStreet"
So lets get this straight - you aren't long and you aren't short but you spend most of your life bashing this stock. What's that called?....lol...You only come to this board and have been doing it since October - that was when the short started to crush the stock hard.
Someone who signs up for bashing jobs has nothing to live for but dreaming of someday getting out and into a real job - good luck on that.
I've seen it done and now you'll get your chance. Manipulation in the market works both ways and by the way - It was completely SEC legal....unlike the self-trading the short has been pulling which is illegal.
Everything needed doing is budgeted and any alternates will be backed financially by Baupost. Baupost can also fund the end of the little big short - buying the pps until the short panics to jump cover at whatever price Baupost is putting up on the Bid. Baupost doesn't need to keep all those run-up shares and can sell them back to the market over time around the dollar and of course, making a nice profit. It is a win - win for longs and a loser for the short.