PDL BioPharma, Inc.NASDAQ
PDL BioPharma: Beware The 8% Dividend
Dave Dierking • 38 Comments
Dave Dierking • 38 Comments
Mon, Nov. 28, 12:08 PM
- Small-cap names making 52-week highs today on double the normal volume:
- Alpha & Omega Semi (AOSL +3.1%)
- Antares Pharma (ATRS +2%)
- Bel Fuse (BELFA -1.1%)
- Bojangles (BOJA -1.5%)
- Lindsay Corp. (LNN +2.9%)
- MBIA (MBI +8.2%)
- PennyMac Financial (PFSI +2.5%)
- TICC Capital (TICC -0.3%)
- World Point Terminals (WPT +1.1%)
- New 52-week lows on any volume:
- Ferreligas Partners (FGP -6.9%)
- iKang Healthcare (KANG -9.6%)
- Novadaq Technologies (NVDQ -5%)
- PDL BioPharma (PDLI -3.5%)
- Petrobas Argentina (PZE -3.8%)
Wed, Nov. 23, 3:43 PM
- The potential haircut to future revenue that PDL BioPharma (PDLI -15.2%) faces from Eli Lilly's (LLY -10.5%) solanezumab flop was already priced into the stock says RBC's Adnan Butt. PDL was eligible to receive royalties on solanezumab sales.
- He calls the sell-off an "overreaction" and adds that the most significant near-term catalyst is Novartis' (NVS +1%) hypertension drug Tekturna (aliskiren), which the company owns a piece of through its initial $75M equity investment in Noden Pharma DAC (Noden acquired global rights from Novartis). PDL expects to invest an additional $64M by next year.
Wed, Nov. 23, 12:46 PM
Wed, Nov. 23, 9:16 AM| Wed, Nov. 23, 9:16 AM | 3 Comments
Tue, Nov. 22, 3:39 PM
- PDL BioPharma (PDLI -0.7%) closes its previously announced offering of $150M aggregate principal amount of 2.75% convertible senior notes due December 1, 2021. Underwriters have the option to purchase an additional $22.5M of the notes.
- Net proceeds were ~$145.8M, of which $121.5M will be used to repurchase $120M principal amount of the company's outstanding 4.00% convertible senior notes due 2018 plus ~$1.5M of accrued interest.
- Previously: PDL Bio prices convertible debt offering (Nov. 17)
Thu, Nov. 17, 9:20 AM| Thu, Nov. 17, 9:20 AM | 2 Comments
Wed, Nov. 16, 12:39 PM
Wed, Nov. 16, 11:00 AM
Wed, Nov. 16, 9:17 AM
- Gainers: GLBS +58%. SINO +45%. GSL +39%. DCIX +39%. STEM +30%. ESEA +22%. SHIP +20%. NM +19%. DAC +19%. ORIG +19%. LEI +18%. TOPS +16%. NMM +18%. SB +15%. SBLK +11%. DSX +9%. JKS +9%. GNK +9%. YRD +7%. TGT +8%. GOGL 8%. EGLE 6%. SAEX 7%. RPRX 7%. NNA 7%. HTBX 7%. NAK 6%.
- Losers: PDLI -15%. LNTH -11%. FLXN -9%. AQMS -7%. VSAT -6%. SID -5%.
Wed, Nov. 16, 7:01 AM
- PDL BioPharma (NASDAQ:PDLI) initiates an offering of $150M aggregate principal amount of convertible senior notes due December 1, 2021. Underwriters over-allotment is an additional $22.5M of the notes.
- The interest rate, initial conversion rate, price and terms have yet to be announced.
- Net proceeds will fund the cost of capped call transactions, the repurchase of a portion of outstanding 4.00% Senior Convertible Notes due 2018, the acquisition of income-generating assets and pharmaceutical products and general corporate purposes.
- Update: Shares are down 16% premarket on modest volume.
Tue, Nov. 15, 5:36 PM
Thu, Nov. 3, 4:11 PM
Wed, Nov. 2, 5:35 PM
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