Another buyout of a successful spin hit the newswire earlier this week when Forest Laboratories (FRX) announced that it would acquire Furiex Pharmaceuticals (FURX) for $95 per share in cash. Furiex was spun out of PPD (which has since been acquired) back in 2010 and had been on a tear after dropping out of the gate. Most recently, the… Read More »
Woke up this morning to see that Furiex Pharmaceuticals (FURX) was up close to 50% (!) in pre-market trading. The company confirmed that its commercial partner, Takeda Pharmaceutical, had received FDA approval for three Type 2 Diabetes therapies. Several of these had already been approved in Japan with Furiex receiving royalties. In addition to unlocking a $25m milestone… Read More »
Came across a note in Barron’s this weekend that Furiex Pharmaceuticals (FURX) CEO Fredric Eshelman upped his stake in the company by 17,359 shares to a total representing ~12.1% ~21.1% of the company. In case you don’t remember, Furiex was spun out around the time of our site’s launch and we noted some bullish followers of the stock.… Read More »
Just came across a bullish write up on Furiex Pharmaceuticals(FURX), which was recently spun off from PPDI, and has since dropped significantly in share price. Above Average Odds points out the indiscriminate selling, strong management, large cash hoard, and pipeline in making a case for “a wonderful asymmetric risk reward opportunity.” Definitely worth reading and considering. Disclosure: Author… Read More »