richrichrich
13 years ago
You've got me.......I sure didn't get much of an explanation either. Just a "Duh" comment. All I was saying, like you, was that I could have gotten in at like 70 cents, back in late 2009.......It does look like it just stopped trading, or died, recently......When I look at the news available, it looks like there was some sort of "breach of fiduciary duty" news, back in January, then the stock just died, about a month later. Oh well. Looks like it's dead, as a result of that. Such is life, for small companies like this(I guess).......Sure looked hopeful, to have risen from a penny stock, to a 26 dollar stock, in such a short time frame.......Maybe some day I'll take the time to read all the news and blogs available here, to figure out the company's remarkable "rise and fall", just for giggles.......GLTY.
richrichrich
13 years ago
Yes, it's sad.......And this one came to me in a mail flyer, which I read on the toilet, thinking, these "bio" stocks are probably going to fail in the coming months........And most of them did........All except this one, which just continued upward, non stop.......Such is life........
mlkrborn
13 years ago
Bought @ $26; Bristol to buy Inhibitex for hepatitis C treatment
Sat Jan 7, 2012 11:13pm EST
(Reuters) - Bristol-Myers Squibb Co has agreed to acquire Inhibitex Inc for about $2.5 billion to gain access to its promising hepatitis C treatment, the companies said on Saturday.
At $26 per share, the deal is a huge 163 percent premium to Inhibitex's closing price of $9.87 on Friday.
Recent years have seen significant advances for treating hepatitis C - a serious liver disease that afflicts an estimated 180 million people worldwide - while setting off a scramble among large drugmakers to secure the most promising products.
The Bristol-Inhibitex deal comes on the heels of Gilead Sciences Inc's $11 billion acquisition in November of Pharmasset Inc, which has its own promsing hepatitis C therapies. That deal was at an 89 percent premium.
Inhibitex's lead asset is INX-189, an oral drug in Phase II or mid-stage development. Bristol envisions combining INX-189 with products in its own pipeline to create an all-oral regimen that would eliminate the need for interferons, which often cause flu-like side effects that lead many hepatitis C patients to stop or delay treatment.
Bristol expects the transaction to hurt earnings through 2016. That includes an expected hit to earnings per share of about 4 cents in 2012 and 5 cents in 2013.
Analysts on average expect Bristol to earn $2.01 per share in both 2012 and 2013, according to Thomson Reuters I/B/E/S.
(Reporting By Lewis Krauskopf; Editing by John O'Callaghan)