XenoPort Arguably Undervalued, But Low On Options
Stephen Simpson, CFA
Stephen Simpson, CFA
Xenoport Not Getting Much Love Ahead Of Key Data
Stephen Simpson, CFA
Stephen Simpson, CFA
Mon, May 23, 12:48 PM
Mon, May 23, 9:16 AM
Mon, May 23, 8:28 AM
- Privately held Atlanta, GA-based Arbor Pharmaceuticals, LLC acquires XenoPort (NASDAQ:XNPT) for $7.03 in cash or ~$467M. The deal should close in Q3.
- Arbor markets prescription drugs for the cardiovascular, hospital, neuroscience and pediatric markets. XenoPort markets Horizant (gabapentin enacarbil) for restless leg syndrome. The product is branded as Regnite in Japan. Pipeline products include XP23829 for psoriasis and multiple sclerosis and XP21279 for Parkinson's disease.
- XNPT is up 58% premarket on robust volume.
- Update: On July 5, Arbor announced the successful completion of the tender offer. It acquired ~40.2M of XenoPort's common shares (62.95% of the total outstanding). All remaining shares will be converted into the right to receive $7.03 per share in cash, without interest and less any applicable tax withholding. XNPT shares will cease trading on Nasdaq.
Thu, May 5, 4:19 PM
- XenoPort (NASDAQ:XNPT): Q1 EPS of -$0.23 misses by $0.02.
- Revenue of $14.1M (+99.4% Y/Y) misses by $0.14M.
Wed, May 4, 5:35 PM
- ABCO, ABTL, ACAD, ACET, AHS, AHT, AIRM, AL, ALEX, AMBR, AMH, ANET, APLE, ASYS, ATHX, ATVI, ATW, BBG, BCEI, BIO, BIOS, BLDR, BOJA, CAA, CARA, CERN, CINR, CLNE, CLVS, CMLS, CPA, CTRL, CYBR, CZR, DATA, DCT, DEPO, DIOD, DK, DKL, DV, DWA, EBS, ECOM, ED, EFC, EGAN, EGL, EGN, EGY, ELON, ENDP, ENV, EOG, ERII, ESL, EVC, EVDY, EVHC, FCE.A, FEYE, FISV, FLR, FPRX, FTD, GBDC, GEOS, GERN, GPRO, GSAT, GST, GUID, GXP, HLF, HTGC, ICPT, IMMR, IMPV, INAP, JCOM, LADR, LOCO, MAIN, MCHX, MDR, MDRX, MDVN, MELI, MHK, MITT, MNTX, MRIN, MSI, MTD, MTZ, NBIX, NGVC, NSTG, NWSA, OLED, OMED, OUT, OVAS, PACD, PCTY, PEGA, PETX, PKI, PMT, POST, PRSS, PTCT, PTLA, QLGC, RPTP, RRMS, RWT, SAAS, SEM, SEMG, SNCR, SPPI, SPWR, SPXC, SQ, SSNC, SWIR, TCRD, TEAM, TRMR, TRUE, TRQ, TRUP, TSRO, TWOU, UBNT, UEPS, UNXL, WAGE, WAIR, WEB, WIFI, WING, XNPT, Y, YELP
Fri, Apr. 15, 5:36 PM
Mon, Mar. 28, 6:57 AM
- Following through on its October 2015 announcement that it would seek a development partner, XenoPort (NASDAQ:XNPT) enters into a license agreement with Dr. Reddy's Laboratories (NYSE:RDY) for exclusive U.S. rights to Phase 3-stage XP23829, its candidate for plaque psoriasis and, potentially, relapsing forms of multiple sclerosis (MS).
- Under the terms of the deal, Dr. Reddy's will receive exclusive rights in the U.S. to develop and commercialize XP23829 for all indications. XenoPort will receive an upfront payment of $47.5M, $2.5M for the transfer of certain clinical trial materials to Dr. Reddy's, up to $190M in regulatory milestones, up to $250M in commercial milestones and mid-teens royalties on net U.S. sales.
- In October 2015, the company announced that it would focus on maximizing the value of HORIZANT (gabapentin enacarbil), its one commercial product, and discontinue its sole development of XP23829.
- XP23829 is an orally available fumaric acid ester compound that is a prodrug of monomethyl fumarate (MMF). Once absorbed in the body, it is rapidly converted to MMF which has shown immuno-modulatory effects and neuroprotective effects in preclinical testing. Another MMF prodrug is Biogen's (NASDAQ:BIIB) Tecfidera (dimethyl fumarate), approved by the FDA in March 2013 for the treatment of MS.
- A Phase 2 study assessing XP23829 in moderate-to-severe plaque psoriasis was successful.
- Previously: XenoPort's XP23829 successful in mid-stage psoriasis study; shares up 16% premarket (Sept. 15, 2015)
- Previously: XenoPort to focus on HORIZANT; new CEO named (Oct. 1, 2015)
Thu, Feb. 25, 4:08 PM
- XenoPort (NASDAQ:XNPT): Q4 EPS of -$0.21 beats by $0.10.
- Revenue of $14.1M (+98.9% Y/Y) beats by $0.36M.
Wed, Feb. 24, 5:35 PM
- ACTG, ADSK, AEGR, AGO, AHT, AIRM, AL, ALEX, AMH, ATLS, AXLL, BGS, BIDU, BIO, BLOX, BMRN, BVN, CBI, CBPO, CLVS, COWN, CSU, CVT, DGI, DK, DKL, DLR, EBS, ENV, EOG, EVC, GERN, GG, GPS, GSAT, HASI, HEI, HK, HLF, HTGC, HWAY, IART, IM, IMMR, INTU, KBR, KHC, KND, KW, KWR, LYV, MACK, MAIN, MDVN, MELI, MHK, MITT, MNST, MTZ, NDLS, NNI, NTRI, OLED, OUT, OVAS, PANW, PBA, PEGA, PFMT, PODD, PRAA, RARE, RBA, RLOC, RPTP, RRC, RRMS, RTRX, SBAC, SEM, SEMG, SPLK, SPNC, SSRI, STAG, STMP, STRZA, SWN, TSRO, TWOU, TXMD, UHS, WIFI, WPG, WTW, XNPT, ZOES
Fri, Jan. 22, 8:23 AM
- Credit Suisse analysts have been very busy lately with a long list of initiations: Acceleron Pharma (NASDAQ:XLRN) Outperform with $50 (47% upside) price target; BioMarin Pharmaceutical (NASDAQ:BMRN) Outperform with $110 (36% upside) price target; Amgen (NASDAQ:AMGN) Outperform with $205 (34% upside) price target.
- Celgene (NASDAQ:CELG) Outperform with $149 (41% upside) price target; Coherus Biosciences (NASDAQ:CHRS) Outperform with $25 (79% upside) price target; Gilead Sciences (NASDAQ:GILD) Outperform with $125 (40% upside) price target.
- Regeneron Pharmaceuticals (NASDAQ:REGN) Neutral with $552 (19% upside) price target; Vertex Pharmaceuticals (NASDAQ:VRTX) Outperform with $151 (59% upside) price target; Alnylam Pharmaceuticals (NASDAQ:ALNY) Outperform with $154 (117% upside) price target.
- Alexion Pharmaceuticals (NASDAQ:ALXN) Neutral rating with $201 (29% upside) price target; Biogen (NASDAQ:BIIB) Neutral with $322 (23% upside) price target; XenoPort (NASDAQ:XNPT) Underperform with $4 (16% downside risk) price target.
- PTC Therapeutics (NASDAQ:PTCT) Outperform with $36 (33% upside) price target; Mesoblast Limited (NASDAQ:MESO) Outperform with $10 (92% upside) price target and Incyte (NASDAQ:INCY) Outperform with $110 (49% upside) price target.
Thu, Jan. 21, 5:37 PM
Thu, Jan. 21, 4:03 PM
- Micro cap XenoPort (NASDAQ:XNPT) spiked at the close to finish up 9% for the day, albeit on below average volume, on a rumor that it is exploring a sale.
- Its markets one commercial product: HORIZANT (gabapentin enacarbil), for restless legs syndrome (RLS) and postherpetic neuralgia. It is branded as REGNITE in Japan, where Astellas Pharma (OTCPK:ALPMY)(OTCPK:ALPMF) exclusively markets it. It was cleared for the treatment of RLS there in January 2012.
- Its two main pipeline candidates are XP23829 for psoriasis and multiple sclerosis and XP21279 for Parkinson's disease.
Nov. 30, 2015, 12:49 PM
Nov. 4, 2015, 4:43 PM
- XenoPort (NASDAQ:XNPT): Q3 EPS of -$0.38 in-line.
- Revenue of $11.4M (-63.3% Y/Y) misses by $0.37M.
Nov. 3, 2015, 5:35 PM
- ACAS, ACLS, ACXM, AEL, AHT, ALB, ALR, ANDE, ARC, AREX, ARPI, ATO, AVG, AWAY, AWK, BGC, BKCC, BKD, BNFT, BOJA, BREW, BRKR, BWXT, CAA, CBPX, CCRN, CDI, CDXS, CF, CJES, CLR, CNAT, CODI, COHR, CPE, CSC, CSGS, CSII, CSLT, CTL, CVG, CVT, CXO, CXW, DCO, DOOR, DPM, DXCM, DYN, EGAN, ENVA, EOX, EPAM, EPM, EQC, ETE, ETP, EVAR, EVTC, EXAM, FB, FC, FEYE, FLT, FOE, FPRX, FRSH, FRT, FTD, FUEL, G, GDDY, GPOR, GTY, GUID, HABT, HASI, HDP, HIVE, HOLX, HR, HRTG, HUBS, IL, IO, JKHY, JONE, JRVR, KAI, KAR, KIM, KING, KND, KW, LADR, LCI, LDRH, LGCY, LHCG, LPSN, MATX, MB, MBI, MCHP, MCHX, MELI, MET, MHLD, MITT, MNTX, MOSY, MRIN, MRO, MTDR, MTRX, MUSA, MWA, MYRG, NLY, NNBR, NOG, NP, NWPX, OME, OSUR, PDLI, PE, PEIX, PFMT, PFSI, PGTI, PHH, PMT, POWR, PRA, PRI, PRU, PSEC, QCOM, QUOT, RDEN, RENT, RGR, RIG, RIGP, RJET, RLJ, RNR, RST, SBAC, SBY, SCSS, SD, SF, SGM, SLF, SPPI, SQNM, STR, SUN, SWM, SXL, TCAP, TEP, TROX, TS, TSE, TUMI, TWO, TXMD, UHAL, VEC, VVUS, WFM, WMGI, WPX, WRK, WSR, WTI, XENT, XNPT, XPO
Oct. 16, 2015, 12:45 PM