nptimothy Relax. Just google, array inc. stock repurchase. You're acting so desperate, it undermines everything you say.
Array Inc. repurchased 3,250,000 shares for 56,777,195 Taiwanese dollars (T$). That's T$17.47 a share which equals .54 per share USD. Array Pharma purchased Zero shares. If Reuters totally messed things up and Array did actually retire 3,250,000 shares, it must have been unissued shares that had been previously registered. I appreciate you bringing the matter to our attention
They didn't repurchase any stock. They probably retired stock that had been registered to be issued, but never was.
The os was not in the abstract. The information that there was no significant os was presented today. Though it is irrelevant for FDA approval; neverless, the idiot herd freaked out!
It's archived at website. Last night a different IONS drug was reported to have platelet issue. It has not as yet been reported to FDA
topline data: median PFS on the binimetinib arm was 2.8 months vs 1.5 months on decarbazine arm. If complete data shows no overall survival, on what basis does ARRY think that PFS will be enough for approval? Were other mek inhibitors approved on PFS alone? I vaguely recall that being said at one of the confreences Q&A.
The dilution will be 28%. The price before the announcement was $8.99. 72% of $8.99 = $6.47
I've like this management, but they should have authorized a secondary to be dribbled out "at-the-market." No need to cause this pain to shareholders. They didn't need to offer all the shares at once.
The dilution will be about 22%. The price before the announcement was $8.99. 78% of $8.99 = $7.01
Usually, the pps doesn't drop so perfectly with the dilution since they are gaining an asset which guarantees sufficient funds until filing for mesothelioma approval, but since it drop in line with dilution, the numbers at least office their own explanation. These situations usually self-correct. This isn't a junk company without prospects desperate for $$$.
fib1_1_2_3_5, could you please present more info on the phase 3 reads that you anticipate this year. Thanks
Novartis could dump the GSK mek inhibitor. Squarer didn't think that was likely because it's on market. But Novartis doesn't have all those trials with the Gsk inhibitor like it does with Array's in combo with its own oncology drugs.
If Novartis and Astrazeneca are filing next year, there should be plenty of preliminary Phase III data to report at the latest ASCO. However, no mention of any such expectation at the conference calls or the Morgan Stanley Biotech Conference. I've been trading long and short and have been lucky to escape. I'm looking to invest long. Even forgetting about the filings, the probability of the return of binimetinib is too much to overlook since according to Squarer, Arry has enough money to finish the trial even if Novertis' contractual obligations don't extend that far, and it would only require a small sales force to launch.
I'm only hesitant because the market hasn't corrected yet. Those early morning dumps look like margin calls. I liked the strength at the end of the day.
Michael G. King Jr., JMP Securities, ranked first in 2013 among all stock pickers in the Pharmaceuticals category in the annual “Best on the Street” analyst survey conducted by The Wall Street Journal. He reiterated his outperform rating, July 8th.
Michael King, JMP Securities (7/8/13) "Astex Pharmaceuticals Inc. announced this morning its plans to submit an investigational new drug application to the FDA for ASTX727, a novel, oral hypomethylating agent (HMA), by Q4/13; maintaining Market Outperform rating. . .we regard today's announcement as an important development in the life-cycle management of Astex's HMA franchise."
Michael King, JMP Securities (5/21/13) "Updates to SGI-110 phase 1 activity and duration of response in myelodysplastic syndromes patients were detailed in Astex Pharmaceuticals Inc.'s abstract release ahead of the 18th Congress of the European Hematology Association. . .we are maintaining a Market Outperform rating. . .overall, our outlook on SGI-110 remains positive. . .the drug holds a strong likelihood of success in the ongoing phase 2 study."
Jason Zhang, Edison Investment Research (5/7/13) "A more than 70% appreciation in the share price over the past two months suggests the market is recognizing the potential value in Astex Pharmaceuticals Inc.'s internal pipeline, particularly SGI-110. . .we consider there to be an attractive investment case with multiple upside catalysts. . .we value Astex at $678M, equivalent to $7.25/share. . .SGI-110, a second-generation hypomethylating agent (HMA), is now the clear focus of investor interest—the drug has a proven mechanism of action and potential advantages over first-generation HMAs. . .we see significant potential value increases as SGI-110 and AT13387 advance into later stages of development in the next 12-18 months."
Sentiment: Strong Buy
The IBB (iShares Nasdaq Biotechnology Index Fund) should have already rebalanced. No imperative for other biotechnology funds to rebalance since they don't mimic the Nasdaq bio index. I didn't have a clue that this would be happening, but for sure the professional managers did, and that might have accounted for some extra pressure this week. I know about the $5 dollar rule for some funds to buy, but I don't know that they have to sell if the stock has sunk below 5 dollars -- or if they eventually have to sell, how long they can hold it.
According to the last couple of healthcare conferences, the guidance of $55 million for dacogen was based on increased Euro sales and decreased U.S. sales because of generics. If no generics, then the guidance might be raised. Nice point that
generics-pharma might be reconsidering, because of SG-110
ahande and dsk0722 had posted it yesterday. I sure am grateful to them; it saved me from wondering if something extraterrestial had happened. I could tell from timehusk's post earlier today that he hadn't read it, so I reposted it. I like the pps bounced from the low of 4.22 to 4.65. Long and strong on the science
Sentiment: Strong Buy
There was a Biotech Index methodology change and rebalancing on June 21.