NASH drugs will be all the rage in the new America, as its people descend into anarchy and take to the bottle in ever increasing numbers. This morning, the good folks over at Allergen said ‘fuck it’ and acquired a small little unknown biotech company for $1.7b, a 500 fucking percent premium to the closing share price.
Good luck explaining this at the next shareholder meeting.
The stock was trading $4.5 just yesterday. Today, it is being acquired for $50. What the fuck is going on here?
Could you imagine being short this stock? If I was caught short this fucker today, I’d wrap myself in a burlap blanket and throw myself into a lit fireplace.
Allergan Plc (AGN.N) said it would buy Tobira Therapeutics Inc (TBRA.O) in a deal worth up to $1.7 billion, about 19 times the company’s current value, to get a leg up in the race to develop therapies for NASH, an incurable fatty liver disease.
Allergan’s offer of $28.35 per Tobira share upfront is nearly a whopping 500 percent premium to the stock’s close on Monday, which gave Tobira a market capitalization of about $89 million.
Dublin-based Allergan said Tobira shareholders could get up to $49.84 per share contingent on the company achieving certain milestones.
Tobira’s shares surged 575 percent to $32 premarket on Tuesday. Allergan’s shares were off 0.4 percent.
Other NASH companies out there include ICPT, GNFT.pa, CNAT.
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oil lookin crashy
Now it’s surging pretty hard. On the weekly it looks like a big ol’ inverse head and shoulders. Natty might explode 25% in pretty short order here too.
what the F, check out the panic rip on oil. market is gasping and puffing. die you piece o shit.
Perhaps the decimal was in the wrong place and it’s $.170B which would be $5/share?
this is divorce/suicide type short squeeze.
now 720% lol!
Wells Fargo up today. The hypocrite buffay doing just fine. Top brass raking in million dollar bonus’s and the 5,000 piss ants are gone.
holy shit, I’m not much of a fan of Elizabeth Warren but she is roasting the WFC ceo alive! Brutal !
Nice. She’d be a great dictator in Paraguay.
dax looking crashy.
You gotta love that extra 35 cents….”28 bucks a share!”..”.Nope, $28.35 or we walk!”
$ARNA is also a NASH candidate and then some.
Deal looks batshit crazy after their drug failed prompting the move to $4. But hell yeah party on in bioland!