and a target of $4.Based mainly on predicted successful litigation with SIGA.
Woohoooooooooooooooooo!! GO PIP!
For some reason, this made me laugh. Go figure. :)
The study also showed that 22.7 percent of patients getting the drug experienced no decline in lung function, more than double the 9.7 percent seen among those taking the placebo.
Not convinced here. Still short. :)
Fri Mar 7, 2014 11:25am
(Reuters) - InterMune Inc, a drugmaker that specializes in treating fatal scarring of the lungs, is attracting takeover interest from several pharmaceutical companies, according to people familiar with the matter.
While no formal sale process is under way and a deal is not imminent, a handful of larger rivals are exploring a bid for the $2.7 billion orphan-drug maker, the people said this week.
Makers of orphan drugs, treatments for rare diseases, are attractive acquisitions for large pharmaceutical companies that are looking to offset a drop in sales as their patents on blockbuster products expire.
InterMune had considered selling itself about three years ago and held discussions with potential buyers. They decided not to pursue a deal at that time due to uncertainty over data for the company's pirfenidone drug, the sources said.
However, buyer interest has been rekindled in recent weeks after the company announced positive late-stage trial results for pirfenidone, the people said, requesting anonymity because they were not authorized to speak with the media. The drug treats idiopathic pulmonary fibrosis, or IPF, which is characterized by a slow decline in lung function and has no known cause.
The positive trial data, announced on Feb. 25, sent shares of InterMune soaring more than 170 percent in the last few weeks to a market capitalization of about $2.7 billion.
It was not known whether any of the interested drugmakers had made a formal offer to buy the company yet. An InterMune spokesman declined to comment.
The U.S. Food and Drug Administration rejected pirfenidone in May 2010, citing lack of data to prove its effectiveness in treating IPF, and asked InterMune to conduct a new trial.
That late-stage trial showed that after a year of treatment, 16.5 percent of patients in the pirfenidone group experienced disease progression, about half the percentage of those using a placebo.
Under. As I said in another thread, it's gonna be $65ish, maybe $67 if we are VERY lucky. But who's complaining? :)
It IS higher today, so I hope you and others do very well while it's up. I still like my trade, and may in fact add to my short here. Best of luck while we see how it all plays out.
Sadly, that's why people love to appear on the financial channels. They know that all they have to do is mention a stock, and it pops. Why do you think those traders come on Fast Money, etc? They can help their own position just by uttering the symbol.
As soon as that guy mentioned it, ITMN popped a buck. Shame that that's how retail traders react. How many of them got smoked when it came back down? Too bad.
Seeing that XON and ZIOP took up 2 of the top ten "short % of float" positions in biotechs as of last week, that's a good thing. :)
You need to calm down, and stop worrying about every movement of a few cents. As I told you the other day, it's not as imminent as you think. They probably haven't even met yet, as there are lots of things they need to go over first. This will likely take weeks to get done.
Chill, and enjoy the eventual outcome.
What can I tell you? I made my warning when I came to my conclusion (as soon as I looked at the company, lol).
Way to take a huge left turn, lol.
I take no pleasure in having been right back in July/Aug of last year. Told you guys that this was a turd, and shorted it down from 28 to 9. Even when I covered, I said it would likely go much lower, even BK - but that I stuck to my targets and was was happy with my trade.
Best of luck to everyone. Hope most of you got out while in the green.
Pretty well, thanks for asking. Covered 1/2 of the position the next morning at 78 (much sooner than I expected, but I don't usually pass up a quick 9 point gain) and hoped I might get a chance to short that half again. II hope you guys had some nice gains over the past few days here, but imo, oday was the top. Along those lines, I just shorted that half again, at an average of $86.44. Let's see how it goes.
Best of luck to all.
Don't be silly. Will take weeks, if not longer. And I doubt we'll get $70, though I'd love to be wrong. Maybe $67 if we are very lucky, imo.