looks like a big holder dumped. I doubled down - either very smart or stupid. Just not sure which yet!
This company has A LOT of red flags. Little data, me-too in a crowded field, huge price run up in a biotech bubble etc. Once the bubble finally bursts (not sure we are there yet, but getting closer) this company trades at cash on books - so about $1.50 a share after this funding round. Happens every cycle with little speculative companies like this.
I suspect closer to 30m
Did the company say anything about the other 25m from Brazil? They announced a contract to sell up to 50m to Brazil by August 2015, and have received orders for 25m to date. That seemingly indicates Q3 will be really good as well.
The market clearly expects this deal to close. NPS shares are trading at 1.5% discount to Shire's offer. Typically, a deal trades at a bigger discount (anywhere from 3 -8 percent). I would be astonished if Shire walked away.
Translationhell - curious, what are you long in? Might need to redeploy capital soon and looking for interesting companies!
Companies that might be interested: Sanofi; Pfizer; AbbVie; Alexion; and Biomarin.
Sanofi (which owns Genzyme) recently kicked out its CEO for focusing too much on the US, instead of France.
Pfizer and AbbVie are both interested in expanding in rare disease, but NPS might be a bit small for them.
If anyone else steps up and bids, probably will be another biotech. Alexion and Biomarin are both rare disease specialists. They will undoubtedly kick the tires.
AbbVie launched a price war against Gilead for Hepatitis C drugs. Fear is that all high priced specialty drugs will face pressure from insurers (as happened in Gilead's case). Probably not much effect on NPS, as Gattex and Natpara don't have any direct competitors. But if the entire sector gets slammed, then NPS gets hit too.
Exactly. The fact Shire is going public (I assume they leaked news) probably means NPS is resisting because it's hoping for a higher price. NPS may want to drag this out to after FDA meeting