Seeking Alpha

Market chatter still high on InterMune takeout rumors

  • Market buzz remains high about several pharmaceutical companies' interest in the orphan drug maker.
  • InterMune (ITMN) considered selling itself three years ago but no deals were reached due to uncertainty with pirfenidone data.
  • On February 25, the company disclosed positive trial data showing significant slowing of disease progression versus placebo. Shares gapped up 170% on a 17-fold increase in volume.
  • Shares are up 14% on heavy volume in today's trading.
  • 250 mutual funds have positions.
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Comments (1)
  • atosh12
    , contributor
    Comments (9) | Send Message
    It looks like there is lot of speculative money driving this stock. One needs to keep in mind that a clearer picture would appear in May when both ITMN and the competitor present their complete data. Right now, it appears that has been priced in. It is interesting that this piece of news came in just when the momentum in the stock was waning.
    9 Mar, 05:43 PM Reply Like
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