Long timers on this board - what do you'll think of $125?
Although it is a bit lower than what I expected, I am glad it did not drag out more. Perhaps the uncertainty of FOCUS and that ASPIRE duration of trails is max 18mos resulted in a lower price than most expected. Also perhaps opro has no value assigned to it.
I think coming week is crucial. I cannot imagine the quibbling over $5 to $10 ($400-$800 million) per share can take over a week especially when AMGN has had enough time to think over this before they made the $120 bid and now 6 weeks into the first press release related to it. The fact that FOCUS was to hit or miss by small at the interim analysis was known earlier. I hope good sense prevails and the deal gets done the coming week that is agreeable to everybody.
Onyx announced that FOCUS readout will be available in 1half of next year. ASPIRE too in 1st half of next year. Anyways European approval based on second line and later will depend on ASPIRE and not FOCUS. Just that FOCUS interim analysis was a bit of a surprize for everybody.
ONXX will cross 130 in coming year without a buyout. ONXX has a lot going for it. Will get even higher bid down the road if AMGN loses this golden opportunity to beef up its numbers. AMGN does not have good pipeline and analysts are well aware of that.
ONXX had said there will be no communication regarding negotiations until deal is done (or deal is not done). I don't think they can or should communicate in the midst of negotiations. There will some who will win and some lose if they start talking...
ONXX will cross 130 without buyout in less than 9 months. It has a lot going for it. Kyprolis in first and second line. Stivarga in earlier/different treatments. Palboci for breast cancer will get in 400million royalty @8% which itself is valued at 1.5 billion (4 times sales).
Research analysts at UBS AG hoisted their price objective on shares of Onyx Pharmaceuticals (NASDAQ: ONXX) from $110.00 to $150.00 in a report released on Monday, ARN reports. UBS AG’s price objective would indicate a potential upside of 14.36% from the stock’s previous close.
Yes I feel 120 is at the low end - imo, a more reasonable price for the final buyout would be 130 to 140.
Assuming this is reliable news, Congratulations to the longs on this board!