This stock is very cheap relative to the amount of assets. My pick for a takeout is Total. Total and CHK have a joint drilling program in Ohio and CHK must complete all the drilling within a certain amount of time. Total is paying for half of the drilling costs which is probably why CHK has not reduced the number of rigs as much as some other companies . Shell, BP and COP are also buyers.
Update- Check the LLY yahoo web site - big move up n the stock price due to Solanezumab. A paper will be presented at the July 18-23 Alzheimers Assn. meeting. Stories about Solanezumab were on CNBC and the nightly business report today. Nobody seems to know there is any connection between this drug and PDLI.
This is an Alzheimers drug that PDLI has a "know how" agreement with Lilly in place. The Queen patent is not involved. If commercialized, PDLI will get a trial 2% of sales royality for 12.5 years. A new phase 3 trial is well underway on early stage Alzheimers patients of the subtype who did well in the first "failed" trial.
Lilly has a new imaging agent for amyloid plaque that is a very good indicator for seeing if a the drug is working. FDA approval of Solanezumab would in a large amount of income for PDLI for 12.5 years.
Great results at ASCO but nothing happened. Maybe someone at some fund made a pitch to management and they moved on it. Or some news leaked out about a partnership deal.
This is an important piece of news in regard to the IMMU CD22 antibody. So what happens ? The stock price goes down. The IMMU 132 data for ASCO was also very positive. With a market cap of only 380 million this company is a takeover candidate.
I finally got around to reading all 14 of EXEL's . The ones dealing with Cabozantinib in lung cancer are the most interesting. In particular abstract # 8003. In Cabo vs. erlotinb- Cabo was much better p=0.0002 and erlotinib + Cabo was better then E or C alone p=0.0002 What does this mean ? Cabo will get approved for NSCLC patients who have certain types of DNA mutations that respond to Cabo.