Xstelos Holdings has delivered a letter to Nabi Biopharmaceuticals (NABI +1.7%) expressing its belief that NABI's proposed merger with Biota Holdings undervalues the company. For this reason, Xstelos, who holds a 7..6% stake in NABI, intends to vote against the merger. The firm adds that if the deal isn't approved by stockholders, NABI should immediately return substantially all of its cash to shareholders through a dividend or other distribution.
Nabi Biopharmaceuticals (NABI +1.1%) recovers from its pre-open dip, now trading higher despite its earlier announcement that Phase 2 studies of its smoking-cessation vaccine didn't meet the primary endpoint, creating another setback for the drug.
Nabi Biopharmaceutical (NABI +2.3%) and prospective merger partner Biota Holdings both agree to revise terms of their deal, providing $27M to be split among NABI shareholders to compensate for Biota's reduced share value since the transaction was announced in April.
GlaxoSmithKline (GSK +0.6%) and Nabi Biopharmaceuticals (NABI +30.5%) agree to work together to develop vaccines to help smokers kick the habit. Nabi to receive $40M up front, and milestone payments that could reach more than $500M.
Slight pullback of NABI and we are buyers! Looking for another 10% quick pop!
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NABI vs. ETF Alternatives
We are a biopharmaceutical company focused on the development of vaccines addressing unmet medical needs in the areas of nicotine addiction and infectious disease. We leverage our experience and knowledge in powering the human immune system to target serious unmet medical needs in these areas....More