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Stock Market & Financial Investment News

News Breaks
June 13, 2014
15:16 EDTAVNRAvanir volatility low into PDUFA
Avanir July call option implied volatility is at 61, September is at 70, December and January is at 88; compared to its 26-week average of 122 according to Track Data, suggesting decreasing November price movement into PDUFA Date for AVP-825 on November 26.
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January 13, 2015
08:30 EDTAVNROtsuka Pharmaceutical completes acquisition of Avanir
Otsuka stated in a regulatory filing that its offer and withdrawal rights related to its agreement to purchase any and all of the issued and outstanding shares of Avanir's common stock at a purchase price of $17.00 per share expired at the end of the day, 12:00 midnight, New York City time, on January 12.The depositary for the offer has advised Otsuka that, as of the expiration of the offer, a total of 121,815,032 shares had been validly tendered into and not validly withdrawn pursuant to the offer as of the expiration date, representing approximately 62.6% of the shares outstanding as of such time. The number of Shares validly tendered and not properly withdrawn pursuant to the offer constitutes a majority of all outstanding shares and therefore satisfies the minimum condition as defined in the merger agreement. As a result of its acceptance of the shares tendered in the offer, Otsuka acquired sufficient shares to complete the merger without the affirmative vote of the stockholders of the company. Following the merger, all Avanir shares will be delisted from the NASDAQ Stock Market and deregistered, the filing noted.
08:24 EDTAVNRAvanir trading halted, for information
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