Oncolytics Biotech Inc T.ONC

BMS US$14 Bln bid for Karuna countered by competitive bid

[Noteable]

Acquisitions are no longer influenced by price of the asset.

The other multinational pharmaceutical company was identified only as “Party A,” according to a proxy statement filed today by Karuna with the Securities and Exchange Commission.

https://www.fiercebiotech.com/biotech/another-big-pharma-competed-karuna-submitting-all-cash-offer-day-bms-deal-announcement

[CMHarring218431]

One drug with 3 indications. Two phase 3 and one in registration gets you $14bln and it might become a bidding war. Wow! Eom

[CMHarring218431]

As Noteable commented....acquisition price doesn't factor in like one would think. MBS had to be looking at Karuna for quite awhile. In the fall, it was trading at $160 +/- now $300+. They probably could have acquired Karuna for many millions less 2 months ago. Once the risk is assessed as being acceptable...price doesn't matter that much and they might have been aware of another suitor

[CMHarring218431]

Should have read " for many billions less".

[Noteable]

Matt Coffey needs to pull up his socks if he intends to compare himself to the leaders in biotech, like Andrew Miller, who is considerably younger, but apparently more effective than Coffey.  https://www.linkedin.com/in/andrewcraigmiller/