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Stock Market & Financial Investment News

News Breaks
December 11, 2012
07:04 EDTSOMX, PTXPernix Therapeutics acquires Somaxon for $25M
Pernix Therapeutics (PTX) and Somaxon Pharmaceuticals (SOMX) announced that they have entered into a definitive merger agreement for Pernix to acquire Somaxon in a stock-for-stock transaction with a total equity value of $25M. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Somaxon stockholders will receive aggregate consideration equal to $25M in Pernix common stock. The number of shares of Pernix common stock to be issued to the stockholders of Somaxon will be based on the volume-weighted average price of Pernix's common stock over the 30 day period ending on the day immediately prior to the closing of the proposed merger, subject to limitations on the maximum and minimum number of shares of Pernix common stock issuable in the transaction based on a price range of $6.00-$9.00 per share.
News For PTX;SOMX From The Last 14 Days
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February 9, 2016
07:29 EDTPTXPernix Therapeutics price target lowered to $8 from $14 at Brean Capital
Brean Capital lowered its price target on Pernix Therapeutics to $8 from $14 to reflect the removal of any growth premium after it was reported that the company will explore strategic alternatives. The firm believes the company's assets are undervalued and the timing of a deal given market volatility is not ideal. Brean Capital maintained its Buy rating on Pernix shares.
February 8, 2016
14:58 EDTPTXPernix Therapeutics exploring strategic alternatives, Reuters says
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14:54 EDTPTXPernix Therapeutics exploring strategic alternatives, Reuters reports
February 2, 2016
09:39 EDTPTXPernix Therapeutics management to meet with Needham
Meeting to be held in New York on February 4 hosted by Needham.

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