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Stock Market & Financial Investment News

News Breaks
April 1, 2014
08:32 EDTPTXPernix Therapeutics agrees to divest Houston manufacturing operations
Pernix Therapeutics Holdings announced that it has signed a definitive agreement to divest its Houston, TX-based manufacturing operations, Pernix Manufacturing, LLC to Woodfield Pharmaceutical LLC. Woodfield will acquire the entire PML operation and will assume the mortgage associated with the facility. Pernix expects to receive approximately $1.2M in net proceeds at closing and realize approximately $5M in annualized cost savings from the divestiture. As part of the agreement, Woodfield will continue to manufacture the existing Pernix products under a long-term supply agreement. Pernix anticipates a closing of April 15. Closing of the transaction is subject to standard closing conditions and deliveries. In addition, closing on the sale of certain of the real estate assets may extend beyond the anticipated closing date.
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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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