Why would they sell is not the question as the company is not addressing suitors. It is other companies that may be interested in initiating a buyout offer for the company. If that were the circumstance I would expect a buyout that is not hostile.
PTX was at a 52 Week High of $12.88 on the day that the company announced the purchase of Zohydro from ZGNX. Since that day the stock has been on a steady decline losing 50% of that value and is currently at $6.38 a share.
Exelixis (NASDAQ: EXEL) reported Q1 EPS of ($0.18), $0.06 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $9.4 million versus the consensus estimate of $8.08 million. Cash and cash equivalents, short- and long-term investments and short- and long-term restricted cash and investments totaled $197.6 million at March 31, 2015, compared to $242.8 million at December 31, 2014.
Pernix Therapeutics (Nasdaq: PTX) 17.7% LOWER; updated its full-year 2015 net sales guidance and business outlook. The Company anticipates net sales for the three-months ended March 31, 2015, will be between $32 million and $35 million, compared with $19 million for the same period in 2014. (The Street sees Q1 revenue $49.5 million.)