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Retrophin, Inc. (RTRX)

- NASDAQ
  • Oct. 14, 2014, 10:03 AM
    • Retrophin (RTRX +1.4%) divests its ketamine, Syntocinon Nasal Spray (oxytocin) and Vecamyl (mecamylamine HCI tablets) assets to Turing Pharmaceuticals. Under the terms of the agreement, Turing will pay Retrophin an upfront payment of $3M and assume all liabilities and future milestone payments related to the products. The divestment should close in Q1 2015.
    • As part of the agreement, Retrophin founder Martin Shkreli resigns from the firm's board of directors and his employment is terminated effective immediately.
    | 3 Comments
  • Jul. 28, 2014, 7:09 AM
    • Retrophin (NASDAQ:RTRX) submits a proposal to the BOD of Clinuvel Pharmaceuticals to acquire the company in an all-stock deal for 0.175 shares of RTRX per share of Clinuvel or for A$2.17 per share in cash. RTRX currently owns 4.88% of the company.
    • Clinuvel develops drugs for a range of severe skin disorders.
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  • Feb. 13, 2014, 9:30 AM
    • Retrophin (RTRX) zooms 45% after announcing an acquisition and providing revenue guidance for the first time.
    • Retrophin has agreed to buy privately held Manchester Pharmaceuticals for $62.5M, including $29.5M upfront plus royalties based on product sales.
    • Manchester makes two treatments that have been approved by the FDA: Chenodal for the treatment of gallstones and Vecamyl for hypertension.
    • Retrophin expects 2014 revenues of $10-12M and 2015 sales of $19-21M. (PR)
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  • Sep. 25, 2013, 4:17 PM
    • Transcept Pharmaceuticals (TSPT) formally rejects Retrophin's (RTRX.PK) $4/share takeout bid.
    • TSPT says the deal "is not in the best interest of shareholders." (PR)
    • The company previously rejected a lower offer from Retrophin.
    • TSPT +5% AH
    | Comment!
  • Sep. 18, 2013, 4:16 PM
    • Retrophin (RTRX.PK) floats a proposal to acquire Transcept Pharmaceuticals (TSPT) for $4/share.
    • The move comes after TSPT's board adpoted a poison pill and rejected an offer of $3.50/share last week.
    • Retrophin says the deal "represents an attractive premium to TSPT's trading performance, and ... offers a compelling opportunity for TSPT's stockholders."
    • Retrophin CEO Martin Shkreli goes on to call TSPT's acquisition strategy "risky and controversial." (PR)
    • TSPT +8% AH on top of 8% during the regular session.
    | Comment!
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Company Description
Retrophin Inc is a fully integrated biopharmaceutical company focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases.
Sector: Healthcare
Industry: Biotechnology
Country: United States