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Stock Market & Financial Investment News

News Breaks
August 8, 2014
08:34 EDTBSTC, AUXLBioSpecifics announces initiation of Phase 2 clinical study of CCH
BioSpecifics (BSTC) announced that it has injected the first patient in its placebo-controlled Phase 2 clinical trial of CCH for the treatment of lipoma. The company expects to complete patient enrollment in this trial during the first quarter of 2015. The Phase 2 clinical trial is a randomized, double-blind, placebo-controlled study to assess the safety and efficacy of CCH for the treatment of lipoma. The primary endpoint of the Phase 2 clinical trial is the reduction in the measureable surface area of the target lipomas, as determined by caliper, at six months post injection. The secondary efficacy endpoints include responders at six months post injection who show a ≥50% decrease in lipoma surface area relative to baseline between CCH and placebo, the change in the length of the target lipoma, the relative change in lipoma surface area as measured by caliper at one month and three months, and the relative change in lipoma volume as measured by MRI. The study will also gather qualitative lipoma characteristics and an assessment of patient satisfaction through a questionnaire administered to each subject prior to injection and at each follow-up visit. BioSpecifics' strategic partner Auxilium (AUXL) has the option to license development and marketing rights to this indication based on a full analysis of the data from this Phase 2 clinical trial, which would transfer responsibility for the future development costs to Auxilium and trigger an opt-in payment and potential future milestone and royalty payments from Auxilium to BioSpecifics.
News For BSTC;AUXL From The Last 14 Days
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September 17, 2014
09:10 EDTAUXLOn The Fly: Pre-market Movers
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08:44 EDTAUXLBioDelivery Sciences remains takeout candidate for Endo, says Summer Street
Summer Street believes a potential takeover of BioDelivery Sciences (BDSI) by partner Endo (ENDP) is no less likely after Endo made a bid to acquire Auxilium (AUXL). The firm believes an Endo buyout of BioDelivery is likely a 2015 event when BioDelivery's Bunavail for opioid dependence is on the market and BEMA Buprenorphine is facing FDA approval. Summer Street says it is a buyer of BioDelivery Sciences on weakness this morning and keeps a Buy rating on the name with a $28 price target.
08:06 EDTAUXLAuxilium likely to require higher bid from Endo, says MKM Partners
After Endo (ENDP) made a $28.10 per share bid for Auxilium (AUXL), MKM Partners believes that Endo will probably have to bid at least $32 to buy Auxilium. The firm raised its price target on Auxilium to $32 from $26 and reiterates a Buy rating.
07:58 EDTAUXLEndo, Auxilium deal can create significant synergies, says Canaccord
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07:39 EDTAUXLEndo deal for Auxilium highly complimentary, says UBS
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07:15 EDTAUXLEndo bid for Auxilium positive, says Wells Fargo
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07:14 EDTAUXLAuxilium to 'carefully review' proposal from Endo for $28.10 per share
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07:12 EDTAUXLQLT Inc. provides update on merger with Auxilium
QLT Inc. (QLTI) announces that it has been advised by Auxilium Pharmaceuticals (AUXL) that Auxilium has received an unsolicited offer from Endo International (ENDP) to acquire all of the issued and outstanding shares of Auxilium. Auxilium has further advised QLT that the board of Auxilium is reviewing the Endo Proposal, and has not withdrawn, modified, withheld, changed or qualified its recommendation with respect to the proposed merger with QLT pursuant to the Agreement and Plan of Merger among QLT, Auxilium, QLT Holding, and QLT Acquisition, dated June 25. The Merger Agreement continues in full force and effect. In accordance with the Merger Agreement, QLT has consented to the adoption by Auxilium of a stockholder rights plan in response to the Endo Proposal.
07:11 EDTAUXLAnalysts say Auxilium QLT deal could be snarled by Endo bid, Reuters says
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07:04 EDTAUXLAuxilium could be worth $34-$45/share in takeout, says Jefferies
Jefferies believes Auxilium (AUXL) could be worth more than the $28.10 per share offer by Endo (ENDP). The firm says it can get to valuations of $34-$45 per share for Auxilium under a takeout scenario. Jefferies thinks proposed acquisition cost "leaves considerable value on the table." It keeps a Buy rating on Auxilium with a $34 price target. In pre-open trading, Auxilium is trading well above Endo's offer price at $30.26 per share, up 41% or $8.74.
06:36 EDTAUXLEndo volatility expected to move on Endo acquisition proposal
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06:25 EDTAUXLAuxilium volatility expected to move on Endo acquisition proposal
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September 16, 2014
17:29 EDTAUXLAuxilium up 42% following Endo acquisition proposal
16:48 EDTAUXLEndo delivers proposal to acquire Auxilium for $28.10 per share in cash, stock
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16:48 EDTAUXLEndo delivers proposal to acquire Auxilium for $2.2B in cash, stock
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September 14, 2014
13:51 EDTAUXLAuxilium looks like 'overpriced tax shelter', Barron's says
Auxilium's (AUXL) acquisition of QLT (QLTI) for tax inversion purposes followed a collapse in Testim sales and the company "seems like an overpriced tax shelter," Barron's argues in a follow up article. Reference Link
September 12, 2014
11:59 EDTAUXLAuxilium management to meet with Jefferies
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September 10, 2014
07:21 EDTAUXLAuxilium sees merger with QLT closing in Q4
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September 9, 2014
17:03 EDTAUXLAuxilium announces corporate restructuring, will cut headcount approximately 30%
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16:55 EDTAUXLAuxilium trading halted, pending news
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