Fri, Jan. 22, 9:47 AM
- Shire plc (SHPG +3.1%) completes its $5.9B acquisition of (DYAX), whose shareholders will receive $37.30 per share in cash plus potentially $4 more via a non-tradable contingent value right (CVR) related to the regulatory clearance of DX-2930 for the treatment of hereditary angioedema (HAE). A Phase 3 study should be completed in December.
- Previously: Shire buys Dyax for $5.9B in cash (Nov. 2, 2015)
Wed, Jan. 20, 3:46 PM
Dec. 15, 2015, 8:32 AM
- Intercept Pharmaceuticals (NASDAQ:ICPT) is up 9% premarket on light volume, apparently stoked by rumors of a possible bid by Shire plc (NASDAQ:SHPG).
- Shire is supposedly close to a deal to acquire Baxalta (NYSE:BXLT) for at least $30B in cash and stock. It recently bought (NASDAQ:DYAX) for $5.9B.
- Previously: Bloomberg: Shire and Baxalta getting closer to deal (Dec. 11)
- Previously: Shire buys Dyax for $5.9B in cash (Nov. 2)
Dec. 11, 2015, 4:47 PM
Dec. 3, 2015, 12:59 PM
Dec. 3, 2015, 9:15 AM
Dec. 2, 2015, 5:40 PM
- Dyax (NASDAQ:DYAX) is up 12.1% after hours, and ADRs for Shire (NASDAQ:SHPG) are up 1.5%, as the Hart-Scott-Rodino antitrust waiting period for Shire's acquisition of Dyax (DYAX) was ended today by the FTC.
- Shire had entered into an agreement to buy Dyax for about $5.9B, or $37.30/share in cash. Dyax was most recently trading at $37.40 after hours.
- In the deal, Dyax's shareholders could get additional value beyond the cash in a non-tradable contingent value right worth $4/share, depending on the approval of DX-2930.
- Previously: Shire buys Dyax for $5.9B in cash (Nov. 02 2015)
Nov. 2, 2015, 12:48 PM
Nov. 2, 2015, 9:14 AM
Nov. 2, 2015, 6:59 AM
- Shire (NASDAQ:SHPG) acquires Dyax (NASDAQ:DYAX) for $37.30 per share in cash or $5.9B. Dyax shareholders may earn an additional $4.00 per share in cash via a non-tradable contingent value right (CVR) for the regulatory approval of Phase 3-stage DX-2930 for the treatment of hereditary angioedema (HAE).
- The product candidate has Breakthrough Therapy and Orphan Drug status in the U.S. and Orphan Drug status in the EU. A Phase 3 study should commence this quarter. If approved, it could generate up to $2B in annual sales.
- Dyax develops plasma kallikrein inhibitors for the treatment of HAE. Its top product is KALBITOR (ecallantide), approved by the FDA in December 2009, for the treatment of acute attacks fo HAE in patients at least 12 years old. It generated almost $18M in sales in Q3.
Oct. 28, 2015, 4:09 PM
- Dyax (NASDAQ:DYAX): Q3 EPS of -$0.08 in-line.
- Revenue of $24.7M (+12.3% Y/Y) misses by $0.26M.
Oct. 27, 2015, 5:35 PM
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Oct. 16, 2015, 12:32 PM
- Opko Health (OPK +2.5%) initiated with Overweight rating and $14 (47% upside) price target by JP Morgan.
- Jazz Pharmaceuticals (JAZZ +1.7%) initiated with Outperform rating and $200 (44% upside) price target by Northland Capital Markets.
- Mallinckrodt (MNK) initiated with Outperform rating and $92 (37% upside) price target by Northland Capital Markets.
- Shire (SHPG +1.1%) initiated with Outperform rating and $288 (38% upside) price target by Northland Capital Markets.
- Nabriva Therapeutics (NBRV +2.2%) initiated with Outperform rating and $19 (90% upside) price target by Leerink.
- Penumbra (PEN -0.2%) initiated with Buy rating and $48 (20% upside) price target by Canaccord Genuity.
- REGENXBIO (RGNX -3.6%) initiated with Overweight rating and $36 (100% upside) price target by Piper Jaffray.
- Dyax (DYAX -0.9%) upgraded to Outperform from Market Perform by Leerink. Price target raised to $36 (29% upside) from $25.
- Eli Lilly (LLY +1.5%) upgraded to Outperform from Neutral by Credit Suisse. Price target raised to $105 (30% upside) from $89.
- Athenahealth (ATHN -4.6%) downgraded to Underperform from Buy by Jefferies. Price target lowered to $105 (22% downside risk) from $125.
- Halyard Health (HYH -1.5%) downgraded to Underweight from Equal Weight by Morgan Stanley. Price target lowered to $27 (6% downside risk) from 38.
Oct. 12, 2015, 6:00 PM
- Biopharmaceutical firm Dyax (NASDAQ:DYAX) is up 52.7% after hours, to $36 after closing out down 1.8% to $23.58.
- The stock's been the subject of some takeover chatter today after Betaville's Ben Harrington mentions "very speculative" talk in the London market about Dyax being a potential takeout.
- The company focuses on treatment for rare blood disorders and has a portfolio with one approved product and a number of product candidates in various stages.
- The shares are up 67.7% YTD.
Sep. 30, 2015, 11:45 AM
- European regulators give (DYAX +11.1%) some added oomph today. The European Medicines Agency's Committee for Orphan Medicinal Products (COMP) adopts a positive opinion recommending Orphan Drug status to DX-2930 for the treatment of hereditary angioedema (HAE), a rare, potentially life-threatening disorder characterized by periodic attacks of swelling in the face, extremities, genitals, GI tract and upper airways.
- Orphan Drug-tagged medicines in the EU enjoy a 10-year period of market exclusivity, if approved.
- DX-2930, currently in Phase 2 development, is an investigational fully human monoclonal antibody that inhibits plasma kallikrein, an enzyme that activates several blood coagulation factors and plasminogen, a protein in the blood that degrades many blood plasma proteins, including fibrin clots.
- Previously, the FDA designated DX-2930 an Orphan Drug and Breakthrough Therapy for Fast Track Review.
Jul. 29, 2015, 4:23 PM
- Dyax (NASDAQ:DYAX): Q2 EPS of -$0.06 misses by $0.02.
- Revenue of $26.37M (+34.7% Y/Y) beats by $2.97M.
- Shares +0.68%.