Concordia Healthcare Corp. T.CXR.R

News Release

[TraderBen]

Confirms first earnout payment has been made;  terminates photorin trial 3; confirms Donnatal sales reps were terminated and confirms removal from Nasdaq Biotech index.

And still no guidance.

[daveinmiss]

But you failed to mention...great news in general for all longs

[rad10]

Thanks Trader Ben I checked Sedar last night - but they waited til this morning.  Overall difficult for the bondholders to gripe about the situation providing all obligations are being met.  Long, slow painful road to recovery over the course of the next few quarters for those prepared to sail the good ship concordia. Why would any corporation take on a PDT trial for such a rare form

[DeathPool]

I think they would have been better off to do restructuring before they made any earnout payment, if the cma ends up fining them, the earnout could have been challenged as the period in question in the anti-trust complaint is the period the earnout is calculated.   What I find curious is they mention the termination of Donntal contract sales team now - and the law suit alleges it was done in

[Lumberfeverlong]

Of course you would have preferred that because that would have likely resulted in the shares falling further and enriching you. The reality is that the company is actually generating marginal free cash. They ended Q3 with $492M in cash and now if you translate the Cinven payment into USD, they had about $500M before making the payment. With the announced expense reduction efforts and assuming

[Investin]

Hey Deathpool, I thought you were certian they will declare bankruptcy this week before christmas. make sure the door dosnt hit you

[DeathPool]

I hope you luck on your trade.  Previous pumps have had a very short lived life.   Cash on hand sept 30 was 492.6 million, cash on hand in PR today says 410 million.  So they are basically saying they have no cash from operations.  Next M&A payment is due in five short weeks.  Good luck.