Seeking Alpha

Opko completes its acquisition of Prolor Biotech

  • Opko Health (OPK -1%) says it's completed its acquisition of Prolor Biotech (PBTH).
  • Under the terms of the deal, each PBTH stockholder will receive 0.9951 shares of OPK.
  • The acquisition provides OPK with four significant products in Phase III clinical development, as well as a pipeline of important therapeutic and unique diagnostic products in various stages of development.
Comments (9)
  • Igor Rivin
    , contributor
    Comments (151) | Send Message
     
    Happy, happy, Joy, Joy
    29 Aug 2013, 04:14 PM Reply Like
  • Qniform
    , contributor
    Comments (2458) | Send Message
     
    Wild day today. I'm holding 5,000+ shares of PBTH, so you can imagine my thoughts around 10:30 A.M...
    29 Aug 2013, 04:25 PM Reply Like
  • Igor Rivin
    , contributor
    Comments (151) | Send Message
     
    I am holding, um, a few more, so you can imagine mine. Actually, what was really puzzling is that Y! finance was giving quotes on $PBTH, unlike my broker, who was under the impression that it was not trading. I am confused. The whole OPK/PBTH trade today was a bit surreal.
    29 Aug 2013, 05:22 PM Reply Like
  • Qniform
    , contributor
    Comments (2458) | Send Message
     
    I had been holding more than 15,000 shares but took profits earlier this week (about the same avg. price as the close). I don't know how I would have reacted to today's action with 3x the amount at risk - I like to think the amount wouldn't make a difference, but $80k is still a lot of money to me. Heck, so is $40k...

     

    Anyway, Ameritrade web portal wouldn't quote a trade, but their Apex tools (Trade Architect and Think or Swim) worked. Fidelity was trading too. I heard lots of brokers weren't trading though (at least not online).

     

    I see you're an advisor... Look for a PM from me.
    29 Aug 2013, 06:47 PM Reply Like
  • wounded bear
    , contributor
    Comments (5) | Send Message
     
    Does anyone out there know when the PBTH shares convert to OPK? I tried loading up PBTH at 7.80 on E*TRADE and couldn't do it. I was able to buy onTDAMERITRADE but didn't have enough available money to buy all the shares I wanted. Oh well, what are you gonna do. Never been a fast money guy anyway.
    29 Aug 2013, 09:20 PM Reply Like
  • Qniform
    , contributor
    Comments (2458) | Send Message
     
    I'm pretty sure it's tomorrow WB.
    29 Aug 2013, 09:51 PM Reply Like
  • Builderguy160
    , contributor
    Comment (1) | Send Message
     
    can anyone explain to me what happened in the last 5min today and why I sold all my calls @ 50cents today after holding them since march...
    30 Aug 2013, 04:23 PM Reply Like
  • Qniform
    , contributor
    Comments (2458) | Send Message
     
    What happened at the close was a wild volume spike. There was obviously a supply imbalance for some reason - I'm guessing that some short positions are trying to cover and not finding shares easy to get. The question is, what happens next week. I'm guessing that we have a very big short squeeze happening.

     

    As for your options, you're probably seeing something related to the disappearance of the PBTH ticker. My PBTH options changed to OPK, and show zero basis (and therefore a big loss). Check with your broker to resolve it.
    30 Aug 2013, 04:53 PM Reply Like
  • Kirk85
    , contributor
    Comments (9) | Send Message
     
    did all shares go into OPK @ closing bell today???? stock zoomed OPK soared @ like 4pm 8M volume
    30 Aug 2013, 04:54 PM Reply Like
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