- Emergent Biosolutions said Wednesday it has decided not to buy vaccine maker Protein Sciences Corp., ending a $78 million deal because it is "no longer practical." Emergent said the two companies could not agree on the terms of the acquisition. The biopharmaceutical company agreed to buy privately held Protein Sciences in May, but two months later, it said it would not sell because Emergent violated the buyout agreement.
- Protein Sciences said Emergent disclosed and mischaracterized confidential information, and was making inappropriate contact with its shareholders and interfering with the approval process for its late stage flu vaccine candidate FluBlok. It also said it had not provided enough funding to complete the deal.
- Emergent later sued Protein Sciences and its senior management. Emergent said it will seek settlement of the lawsuit, along with repayment of a $10 million loan that is secured with most of Protein Sciences' assets.
- Meriden, Conn.-based Protein Sciences has a proprietary manufacturing technology called the Baculovirus Expression Vector System. It used that technology to develop FluBlok. The vaccine is designed for use against seasonal and pandemic outbreaks.
p.s. if you know of another stock with a similar chart please EMAIL me :)
[Dec 1: Emergent BioSolutions Hits Investors Business Daily][Nov 13: Emergent BioSolutions Files Shelf Offering]
[Nov 7: Bookkeeping - Starting Emergent BioSolutions]
[Nov 6: Emergent BioSolutions Earnings - Blowout Quarter]
[Oct 22: Readers Idea - Emergent BioSolutions]
Long Emergent BioSolutions in fund and personal account
6 comments:
CPSI has a decent looking chart. Has hit the 200 in the past and bounced off, and hit the 50 today and has held it. No debt, a bundle of cash, and a 15X forward earnings multiple minus the cash (slightly pricey, I know). Concerns are the dividend, which is slightly too high to be sustainable, but otherwise looks good if it can bounce off the 50 EMA again.
TM
Been watching this one. It looks to be flattening out... looking for a break of the 20 day... once a chart like this breaks down it could be look out below. Maybe a short here.
BTW here's a company I really like you might want to check out:
CEPH
http://tinyurl.com/6ujnjf
Been watching this one: EBS I mean
Nice chart .. Reminds me of my run with 'FRED'.. Should have done well in this market too.. Pretty much a Wallmart type operation.. Anyway, ran a bollinger band search yesterday and some stocks popped up that might meet you needs.. Some are choppy prior to October, so??
SHEN SXCI VITA NCIT WPP ORH ALK OPTR RGLD
and for a laugh, take a look at the daily chart for 'ANDS' .... jegan
RS,
CPSI has really been going sideways for 3 months
Roses,
Traditionally I stay away from biotech but its an interesting concept - buy drugs that are languishing and upsell them. Only in America. Solid chart though.
http://finance.yahoo.com/news/Drug-Company-Finds-Diamonds-ibd-14001891.html
Jegan
Been looking at SHEN from fundamental point of view for a few days wondering "what's the sex appeal"? I'm lost. For someone who only cares about charts its a great stock; I like a fundamental story to back it up
TM... Not sure about SHEN, but Clearstation has the communications sector as 11th from the top. Seems to me I've seen VZ and Sprint popping up lately as well. (Sprint just signed with PALM to premier their new cellfone.. )I did check and found 4 eyepopping results under Clearstations com sector. ANother with a similar chart is CBEY. SHEN's revenue growth is 2X the industry standard per Yahoo Finance, or about 4X that of VZ or T. CBEY is double that of SHENS.
There are a couple of blog notes:
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Mon, Jan 5, 2009
Telecom Equipment: Seeing Tight Budgets, ThinkEquity Downgrades APKT, ARRS, SNCR, CBEY, ARUN, NSR at Barron's Online (Mon, Jan 5)
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And :
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Fri, Dec 26, 2008 Shenandoah Telecommunications (SHEN): Zacks Rank Buy Zacks.com (Fri, Dec 26)
(excerpt) Shenandoah Telecommunications Co. (NasdaqGS: SHEN - News) is seeing bullish forecasts for the new year. Analyst estimates for 2009 earnings of $1.19 per share were increased by 16% over the past 60 days.
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Checked SHEN -vs- CBEY.. I'd lean more to SHEN. CBEY has greater revenue growth, but a negative earnings growth, their debt/equity is undeclared and they have a negative 'Levered Free Cash Flow'.. SHEN is positive across the board and has a healthy earnings growth with minimal debt/equity. .... Unless you're looking for a 'Las Vegas moment'... CBEY probably still has some momentum going..
jegan
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