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TSRX vs. ETF Alternatives
Jul. 31, 2013, 1:37 PM
- Piper Jaffray weighs in on Trius Therapeutics (TSRX +16.6%), cutting the shares to Neutral from Overwieght on the back of the acquisition announcement from Cubist (CBST).
- Cubist (CBST) will pay $13.50 in cash plus one non-tradeable $2.00 contingent value right for TSRX.
- Under the terms of the deal, TSRX shareholders will receive $1 if net tedizolid sales in the U.S., Canada and Europe reach $125M in 2016 and up to another $1 paid on a pro rata basis for the next $10M in 2016 net sales up to $135M.
- Piper forecasts 2016 tedizolid sales of $188M, so its sees a good chance that the full $2 CVR will be paid out.
- That being said, after applying an 18% discount rate back through today, Piper arrives at present CVR value of $1.32, leaving the stock near fair value.
Jul. 31, 2013, 12:45 PMTop 10 gainers: BEAT +33%. EHTH +30%. QCOR +29%. HXM +27%. MKTO +21%. EDGW +20%. PSTR +18%. TSRX +17%. HNSN +17%. RELV +17%.
Top 10 Losers: MERU -24%. PBIB -22%. VTNC -19%. JIVE -18%. BGFV -18%. URRE -16%. HSON -16%. USU -15%. HDSN -15%. IRG -13%. | Jul. 31, 2013, 12:45 PM | Comment!
Jul. 31, 2013, 8:43 AM| Jul. 31, 2013, 8:43 AM | 1 Comment
Jul. 31, 2013, 8:07 AM
- Credit Suisse upgrades Cubist Pharmaceuticals (CBST) to Outperform from Neutral following yesterday's announcement that the company is buying both Optimer Pharmaceuticals (OPTR) and Trius Therapeutics (TSRX).
- CBST investors got a look at Dificid sales for Q2 courtesy of early numbers from OPTR Tuesday evening. Q2 sales of the antibacterial drug were $19M, up 13% from a disappointing $16.8M in Q1.
- Ultimately, CBST sees Dificid and Trius' tedizolid bringing in a combined $600M to $1B per year, the company said on a CC convened to discuss the deals. (previous)
- Premarket: CBST +6%, TSRX +17.3%, OPTR -6.55%.
Jul. 30, 2013, 5:49 PM
Jul. 30, 2013, 5:15 PM
- With the deal for Optimer (OPTR), Cubist (CBST) gets the antibacterial drug Dificid, which it has co-promoted with OPTR since 2011. CEO Michael Bonney notes that the co-promotion experience combined with CBST's "outstanding hospital-based commercial infrastructure," should allow for the maximization of the drug's potential.
- Previously, some worried disappointing Q1 Dificid sales ($16.8M versus estimates of ~$20M) would make OPTR less attractive as a takeout target.
- In the Trius (TSRX) deal, CBST gets the antibiotic tedizolid phosphate (developed with Bayer outside the U.S.), a phase IV treatment for Gram-positive infections.
Jul. 30, 2013, 4:54 PM| Jul. 30, 2013, 4:54 PM | Comment!
May. 14, 2013, 3:34 PMShares of Alimera Sciences (ALIM +22%) churn higher again today, racking up a +55% run over the past three days. The stock has been on the move since announcing in its 10-K that Iluvien had become commercially available in the UK, Germany, France, Spain, Portugal and Austria. Sentiment may also be getting a boost today on a Seeking Alpha article calling the stock an easy double at current levels, and, along with Trius Therapeutics (TSRX +7.7%), could be one of the biggest gainers in 2013. | May. 14, 2013, 3:34 PM | Comment!
May. 14, 2013, 11:39 AMShares of Trius Therapeutics (TSRX +5.6%) gain this morning after the company announced late yesterday that it's received a Notice of Allowance from the USPTO on an application related to its tedizolid phosphate patent portfolio. The new application protects a therapeutic combination of the experimental medicine with a currently available antibiotic daptomycin. Together, TSRX claims the medicines can prevent the development of certain strains of staph infection. | May. 14, 2013, 11:39 AM | Comment!
May. 7, 2013, 8:05 PM
Mar. 25, 2013, 9:10 AM
Mar. 13, 2013, 11:52 AMTrius Therapeutics (TSRX +3.7%) moves up after reporting a Q4 loss that beat estimates. Revenue was also better, coming in at $5.2M, versus $5M the prior year. Net losses were higher, largely due to clinical and nonclinical development activities for tedizolid phosphate, our lead investigational drug in Phase 3 clinical development. | Mar. 13, 2013, 11:52 AM | 1 Comment
Mar. 12, 2013, 4:26 PM
Jan. 18, 2013, 12:45 PM
Jan. 18, 2013, 10:46 AMAntibacterial-drug developer Trius Therapeutics (TSRX -8.22%) slips after pricing a 6.3M share secondary offering at $4.75 a share, a 9% discount to yesterday's close. The company made the announcement late yesterday without any details as to its size or scope. TSRX has a market cap of around $213M with a 39.4M share float. | Jan. 18, 2013, 10:46 AM | Comment!
Jan. 18, 2013, 9:10 AM
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