Cash, cash equivalents, and marketable securities were $10 billion as of December 31, 2014 compared to $5 billion as of December 31, 2013, an increase of $5 billion.
So the 30% scenario won out, (actually it was 40% with a partial spinout) and if the lesser probabilities are in play, then the 10% buyout scenario may actually come to fruition before September. Because there is no way for CEO and Execs to lose, under any change of control scenario, everything vests, everybody walks away with a big lunch pail, ready for their next gig and a good rep among financial community.
Also, changing of the guard at FDA is going on. The new Asst Secty for Drugs and Tobacco, Dr. Califf, has spoken at orphan and rare disease drug conferences about the "valley of death" where clinical disease research goes, and what would happen if we accelerate development of therapies. Look at his keynote remarks
to rare disease meeting in 2012. FDA has felt pressure for patients and parents, and as all bureaucracies, wants to say, look, we're making changes, those mistakes in the past don't reflect our current practice or outlook.
2014 Active user growth 1 Pinterest 97% 2 Tumblr 95% 3 Insta 47% 4 LinkedIn 38% 5 YouTube 13% 6 Twitter 7% 7 Google+ 6% 8 FB -9%
Clues to what's next
MM went to Davos ( to keep appearance of normality and audition for next gig)
Goldman "neutral" but discusses 15 incremental value of tax efficient moves
But you have to allocate your basis in Yahoo among any spun-off companies
Typically, in the United States, shareholders in distribution-type spinoffs are taxed on gains or losses in the tax year in which they sell the shares. To calculate tax basis in the spinoff and parent, the shareholder must allocate his basis in the purchase of shares in the original company pro rata across the two resulting companies, based on the relative fair market values of the parent and spinoff immediately after the separation.
For example, suppose you buy one share of Company A at $100; A spins off Company B; and each share of A receives a distribution of 4 shares of B. Immediately after the spin, suppose the fair market value is $80 for A shares and $10 for B shares. The total market value of your holding is now $120 (one A at $80, and four B’s at $10). So your allocated basis in A would be 100*80/120, or $66.67; your basis in B would be 100*40/120, which is $33.33 for the four B shares, or $8.33 per B share.
The above paragraph evades the question of how to determine fair market value immediately after the spinoff. Turns out the IRS does not explicitly answer this question either. Your accountant can answer it, or you can refer to the investor relations pages of the parent and spinoff companies. The latter can be very helpful sources of information on this. They often offer specific fair market values for the two entities
But confirms why BARDA HHS should have a major stockpile of peramivir - new flu reassortments, no vaccine, just like H3N2v, antivirals are last resort if vaccines cannot stop spread, treatment for multiple cases will be needed. Should have hundreds of thousands of doses of IV antiviral in SNS. H5N1 H7N9 H3N2 H5N8
Focus on tax efficient monetization offers incremental value of $15 per share and mobile and ad growth in core business offer similar value (ie 30?). So Goldman is "neutral" cause they want to buy it themselves cheaply rather than have retail get in?
1. Give back 50% BABA proceeds as share buyback plus start regular 3-4% dividend. 50%
2. Reverse Morris Trust for all BabA, shares in TwoCo's going forward. 30%
3. Partial Baba spinout, retain 50%. 10%
4. Buyout by Baba, Softbank etc. 10%
CDCHAN 375 (Health Alert Network 375) recommended using one of 3 antivirals for anyone hospitalized (200,000) ot high risk
This CDC Health Update is being issued
to remind clinicians that influenza should be high on their list of possible diagnoses for ill patients, because influenza activity is elevated nationwide, and
to advise clinicians that all hospitalized patients and all high-risk patients (either hospitalized or outpatient) with suspected influenza should be treated as soon as possible with one of three available influenza antiviral medications. This should be done without waiting for confirmatory influenza testing. While antiviral drugs work best when given early, therapeutic benefit has been observed even when treatment is initiated later.
Its all about benefit v risk. If the risk is negligible, as shown by 3+ years for the 12 boys and months for the expanded clinical trials initial dosing, there is no way to assume that the benefit v. risk is not positive. Then the BIG RISK is NOT ALLOWING DMD BOYS ACCESS. So, remeasure the dystrophin (confirm the surrogate endpoint), get the safety data, and then ask for AA because every day lost is a day closer to loss of ambulation and ventilation for the patient population and their families.
This year's flu season continues to take a deadly toll. The U.S. Centers for Disease Control and Prevention said Friday it's confirmed that 19 more children died of influenza in recent weeks, bringing the total to 45 since flu season began in the fall.
That comes a day after the CDC reported disappointing results of this year's flu vaccine, which has proven to be only 23 percent effective at preventing the need for doctor's visits for influenza. CBS News chief medical correspondent Dr. Jon LaPook reports that's the second-worst track record for flu vaccine in a decade.
Say you had 20,000 YHOO shares at 50, ok a little high now, but keeping numbers round.
You start with $1 million in YHOO.
You get BABA shares - .4 for each YHOO, so you end up with 8000 BABA shares
If Alibaba is at 100, you have 800,000, if its at 90 you have 720,000
Meanwhile you still have 20,000 shares of the residual YHOO, so if they're
worth 10 you have 200,000, if worth 5 they're worth $100K, if $20 they're
worth $400K. Is this the way it would work?
And the CDC advice about using antivirals early is serious, to avoid situations like the Wisconsin newlywed who had the flu on Monday and died Friday.
It's hard to predict who will get sepsis from the flu, but underlying conditions, such as asthma or lung disease could contribute to it, said Dr. William Schaffner, chairman of preventive medicine at Vanderbilt University Medical Center in Nashville, Tennessee. He did not treat McQuestion, but he said sepsis can happen if the flu progresses to pneumonia, which is bacterial.
"Usually pneumonia infection is confined to the lungs, but on occasion, it can be so bad that the bacteria leave the lungs and get into the blood stream," Schaffner said.
Sepsis is a life-threatening reaction to an infection due to chemicals in the bloodstream that trigger inflammatory responses in the body, according to the Mayo Clinic.
Pneumonia and flu can often seem to blend together, but Schaffner said that if you have shortness of breath, are coughing up yellow or green mucus, or mucus tinged with blood, it could be pneumonia. He recommended going to the doctor for an antiviral medication as soon as you realize you have the flu in the hopes of preventing a more severe illness and flu complications. He also advised staying hydrated and sitting up in bed to take deep breaths whenever possible.
Adam Feuerstein, who was there, tweeted it was ISIS mipomersen, which got approved, but with heavy labels for warnings for toxicity in US, but was denied approval in Europe-so you can get a thumbs up, or thumbs down, or approval with warnings (which affect doctor and patient choice)
Europe gives thumbs down to Sanofi's cholesterol drug mipomersen
March 22, 2013 | By Emily Mullin
Although recently approved by the FDA, Europe's Committee for Medicinal Products for Human Use has decided not to recommend approval for Isis and Genzyme's cholesterol-lowering drug mipomersen.
EMA committee shoots down Sanofi's cholesterol drug mipomersen
December 14, 2012 | By Ryan McBride
A European Medicines Agency panel handed down a negative opinion late this week on the antisense drug from Isis Pharmaceuticals for treating a genetic disease that causes blood cholesterol to jump, citing safety concerns such as signs of liver toxicity and cardiovascular risks in patients in clinical trials.