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Antares Pharma stock soars 49% on ~$1B acquisition deal by Halozyme

Apr. 13, 2022 5:47 AM ETHalozyme Therapeutics, Inc. (HALO)By: Ravikash, SA News Editor27 Comments

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Halozyme Therapeutics (NASDAQ:HALO) is acquiring Antares Pharma (NASDAQ:ATRS) for ~$960M.

Shares of Antares rose +47.33% to $5.51 pre-market April 13.

San Diego-based Halozyme will pay $5.60 per share in cash, valuing Ewing, N.J.-based Antares at ~$960M. Halozyme will begin a cash tender offer.

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Comments (27)

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InvestingForFuture profile picture
Where are the class action lawsuits against the ATRS Board?

Why? There are no competing bids. What are they going to sue them about?
Dāwud profile picture
Decent article on Halo - www.biospace.com/...

I haven't done a deep dive yet but they did a major pivot after a clinical trial failure in 2019. Focused on its on Enhanze drug delivery system where they partner with other drug companies and collect the royalties from companies using Enhanze. Roughly the same model as ATRS. Not sure if they are making drugs in house though.

I would laugh so hard if Pfizer/ FDA dropped some major news about the narcan rescue pen the day after this goes through. Perfect end for ATRS shareholders.

This little company has potential. So it makes you wonder if a different perspective and owner can make it shine.
chris_dress profile picture
There will be no rejection and no additional bids; take the money and move on…..Next!
Well ATRS is pleased; looks like the show is over:

Robert F. Apple, president and chief executive officer of Antares, commented, “We are pleased to have reached this agreement with Halozyme, as this transaction showcases the value of Antares' highly complementary business, provides our shareholders with attractive and certain value, and brings
together industry-leading expertise and drug delivery platforms to accelerate growth and create new opportunities.

As we remain committed to continuing to serve our partners, I would like to thank our employees for their hard work and dedication to this mission. We look forward to working with the Halozyme team to complete the transaction and deliver best-in-class therapies and drug delivery solutions.
InvestingForFuture profile picture
@L. I'm sure Apple got enough in other forms of promised compensation from Halozyme so he is not just relying on his stock in ATRS buyout.
Mccranski profile picture
So what does this mean for shareholders? We simply get cash for our shares when it closes?
So is halo a buy now
Dāwud profile picture
@john boy It's time to do a little research on HALO and we also have to find out if they are keeping the ATRS management.
Competing bids?
Gerard Hallaren, CFA profile picture
@Fred. L. certainly looks like a possibility.
Almost got a few call options yesterday. Fuck. Me.
ceristeare profile picture
It's a double, I'll take it.
Kadydog1 profile picture
It figures... hold the dumpster 🔥 for 3 years... sell it and then it gets clipped ... lol
@Kadydog1 I held for 10 years...literally sold 2 weeks ago, FFS.
Al Marshall profile picture
A disappointment to me. I’m a long term holder of the shares and see lots of upside in coming years relative to risks. Accretive to earning from day 1 despite Antares revenue growth rate tells the tale.
InvestingForFuture profile picture
@Al Marshall I feel it is undervalued as well. Very very long-time stockholder. If you feel it is undervalued in the offer as do I, then do not tender your shares. This will force them to up the buyout or walk away.
@Al Marshall I was thinking the same thing - I've been holding ATRS since 2014. A buyout is certainly welcome but the price feels low. I hope they reject the offer and try to get a larger one.
Mccranski profile picture
@InvestingForFuture I’m a little confused by what this means for shareholders - what do you mean by “do not tender your shares”? Thanks!
Any other bids lurking around?
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