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News Breaks
June 16, 2014
09:06 EDTINSVInSite Vision momentum turning positive, says Roth Capital
Roth Capital believes that recent events, including a patent that InSite received for BromSite and the company's collaboration with Senju Pharmaceutical in Japan, are positive and set the stage for larger business development deals. The firm keeps a Buy rating on the stock for speculative investors.
News For INSV From The Last 14 Days
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September 3, 2015
18:46 EDTINSVQLT Inc. says InSite has received second unsolicited offer
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August 27, 2015
08:37 EDTINSVQLT Inc., InSite Vision agree on amended, restated merger agreement
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August 21, 2015
08:44 EDTINSVQLT Inc. provides update on proposed acquisition of InSite Vision
QLT Inc. announces that it has been advised by InSite Vision that the board of InSite has determined in good faith after consultation with its independent financial and legal advisors that the previously announced unsolicited offer from a multi-national pharmaceutical company to acquire all of the issued and outstanding shares of InSite constitutes a "Company Superior Proposal" as defined in the Agreement and Plan of Merger, dated June 8, by and among Insite, QLT and Isotope Acquisition Corp., as amended and restated. InSite has further advised QLT that InSite intends, subject to QLT's right to match the Proposal, to terminate the Merger Agreement and enter into an agreement with the Bidder to implement the Proposal. Under the Merger Agreement, QLT has the option until 5:00 p.m. PDT on Wednesday, August 26, to negotiate a possible amendment to the terms of the Merger Agreement to match or exceed the Proposal. InSite has advised QLT that it intends to negotiate in good faith with QLT during the Negotiation Period. If at the end of the Negotiation Period such amended QLT proposal results in the Proposal not being a "Company Superior Proposal" under the Merger Agreement, InSite and QLT will enter into an agreement to reflect the amended terms of the transaction. In the event that QLT elects not to match or exceed the Proposal and if InSite terminates the Merger Agreement in order to enter into an agreement with the Bidder, then InSite is required to pay a termination fee to QLT in the amount of $1.17M. QLT is considering its position with respect to the Proposal and its matching right, and will keep the market apprised of further developments.
08:31 EDTINSVInSite Vision says unsolicted offer a 'company superior proposal'
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