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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Adamas Pharmaceuticals Inc | NASDAQ:ADMS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.22 | 9.33 | 8.30 | 0 | 01:00:00 |
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| | | | A-1 | | | |
| | | | B-1 | | |
Name of Executive Officer or Director
|
| |
Number of
Shares Beneficially Owned(1) |
| |
Implied
Upfront Cash Consideration for Shares |
| |
Implied CVR
Consideration for Shares(2) |
| |||||||||
Executive Officers | | | | | | | | | | | | | | | | | | | |
Neil F. McFarlane, Chief Executive Officer
|
| | | | 112,500 | | | | | $ | 911,250 | | | | | $ | 112,500 | | |
Vijay Shreedhar, Ph.D., Chief Commercial Officer
|
| | | | 47,453 | | | | | $ | 384,369 | | | | | $ | 47,453 | | |
Christopher B. Prentiss, Chief Financial Officer
|
| | | | 40,017 | | | | | $ | 324,138 | | | | | $ | 40,017 | | |
Non-Employee Directors | | | | | | | | | | | | | | | | | | | |
David L. Mahoney, Chairman of the Board
|
| | | | 112,781 | | | | | $ | 913,526 | | | | | $ | 112,781 | | |
Michael F. Bigham
|
| | | | 5,000 | | | | | $ | 40,500 | | | | | $ | 5,000 | | |
Name of Executive Officer or Director
|
| |
Number of
Shares Beneficially Owned(1) |
| |
Implied
Upfront Cash Consideration for Shares |
| |
Implied CVR
Consideration for Shares(2) |
| |||||||||
Martha J. Demski.
|
| | | | 16,000 | | | | | $ | 129,600 | | | | | $ | 16,000 | | |
William W. Ericson, J.D.
|
| | | | 4,624,796(3) | | | | | $ | 37,460,848 | | | | | $ | 4,624,796 | | |
John A. MacPhee, M.P.H.
|
| | | | 197,000 | | | | | $ | 1,595,700 | | | | | $ | 197,000 | | |
Spyidon Papapetropoulos, M.D., Ph.D.
|
| | | | 5,975 | | | | | $ | 48,398 | | | | | $ | 5,975 | | |
Anna S. Richo, J.D.
|
| | | | 13,333 | | | | | $ | 107,997 | | | | | $ | 13,333 | | |
All of our current executive officers and non-employee directors as a group (10 persons)
|
| | | | 5,174,855 | | | | | $ | 41,916,326 | | | | | $ | 5,174,855 | | |
Name
|
| |
Number of
Shares Underlying Vested In The Money Company Options(1) |
| |
Number of
Shares Underlying Unvested In The Money Company Options(2) |
| |
In The
Money Company Option Exercise Price ($)(3) |
| |
Closing
Amount Payable for In the Money Company Options ($)(4)(5) |
| |
CVR
Amount Payable for In the Money Company Options ($)(9) |
| |
Number of
Shares Underlying Restricted Stock Awards(6) |
| |
Closing
Amount Payable for Company RSU Awards ($)(5)(7) |
| |
CVR
Amount Payable for Company RSU Awards ($)(9) |
| |
Total
Closing Value ($)(5)(8) |
| |
Total
CVR Value ($)(9) |
| ||||||||||||||||||||||||||||||
Executive Officers | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Neil F. McFarlane
|
| | | | 234,372 | | | | | | 215,628 | | | | | | 1,960,500 | | | | | | 1,684,500 | | | | | | 450,000 | | | | | | 487,500 | | | | | | 3,948,750 | | | | | | 487,500 | | | | | | 5,633,250 | | | | | | 937,500 | | |
Vijay Shreedhar, Ph.D.
|
| | | | 99,008 | | | | | | 85,992 | | | | | | 752,325 | | | | | | 746,175 | | | | | | 185,000 | | | | | | 137,032 | | | | | | 1,109,959 | | | | | | 137,032 | | | | | | 1,856,134 | | | | | | 322,032 | | |
Christopher B. Prentiss
|
| | | | 47,394 | | | | | | 40,106 | | | | | | 490,375 | | | | | | 218,375 | | | | | | 87,500 | | | | | | 123,750 | | | | | | 1,002,375 | | | | | | 123,750 | | | | | | 1,220,750 | | | | | | 211,250 | | |
Non-Employee Directors | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
David L. Mahoney
|
| | | | 46,666 | | | | | | 23,334 | | | | | | 370,300 | | | | | | 196,700 | | | | | | 70,000 | | | | | | 5,000 | | | | | | 40,500 | | | | | | 5,000 | | | | | | 237,200 | | | | | | 75,000 | | |
Michael F. Bigham
|
| | | | 20,000 | | | | | | 10,000 | | | | | | 127,100 | | | | | | 115,900 | | | | | | 30,000 | | | | | | 5,000 | | | | | | 40,500 | | | | | | 5,000 | | | | | | 156,400 | | | | | | 35,000 | | |
Martha J. Demski
|
| | | | 20,000 | | | | | | 10,000 | | | | | | 127,100 | | | | | | 115,900 | | | | | | 30,000 | | | | | | 5,000 | | | | | | 40,500 | | | | | | 5,000 | | | | | | 156,400 | | | | | | 35,000 | | |
William W. Ericson, J.D.
|
| | | | 20,000 | | | | | | 10,000 | | | | | | 127,100 | | | | | | 115,900 | | | | | | 30,000 | | | | | | 5,000 | | | | | | 40,500 | | | | | | 5,000 | | | | | | 156,400 | | | | | | 35,000 | | |
John A. MacPhee, M.P.H.
|
| | | | 44,000 | | | | | | 10,000 | | | | | | 206,420 | | | | | | 230,980 | | | | | | 54,000 | | | | | | 5,000 | | | | | | 40,500 | | | | | | 5,000 | | | | | | 271,480 | | | | | | 59,000 | | |
Spyidon Papapetropoulos, M.D.,
Ph.D. |
| | | | — | | | | | | 30,000 | | | | | | 139,100 | | | | | | 103,900 | | | | | | 30,000 | | | | | | 15,000 | | | | | | 121,500 | | | | | | 15,000 | | | | | | 225,400 | | | | | | 45,000 | | |
Anna S. Richo, J.D.
|
| | | | 6,666 | | | | | | 23,334 | | | | | | 154,500 | | | | | | 88,500 | | | | | | 30,000 | | | | | | 11,667 | | | | | | 94,503 | | | | | | 11,667 | | | | | | 183,003 | | | | | | 41,667 | | |
Name(1)
|
| |
Cash ($)(2)
|
| |
Equity ($)(3)
|
| |
Perquisites/
Benefits ($)(4) |
| |
Total ($)(5)
|
| ||||||||||||
Neil F. McFarlane
|
| | | | 2,397,758 | | | | | | 5,459,036 | | | | | | 66,000 | | | | | | 7,922,794 | | |
Christopher B. Prentiss
|
| | | | 865,031 | | | | | | 1,209,670 | | | | | | 39,000 | | | | | | 2,113,701 | | |
Vijay Shreedhar, Ph.D.
|
| | | | 985,988 | | | | | | 1,675,963 | | | | | | 39,000 | | | | | | 2,700,951 | | |
Name
|
| |
Cash Severance
Payments ($) |
| |
Prorated
Bonus ($) |
| ||||||
Neil F. McFarlane
|
| | | | 2,060,160 | | | | | | 337,598 | | |
Christopher B. Prentiss.
|
| | | | 721,000 | | | | | | 144,031 | | |
Vijay Shreedhar, Ph.D.
|
| | | | 810,188 | | | | | | 175,800 | | |
Name
|
| |
Single Trigger ($)
|
| |
Double Trigger ($)
|
| ||||||
Neil F. McFarlane
|
| | | | 5,459,036 | | | | | | 2,463,758 | | |
Christopher B. Prentiss.
|
| | | | 1,209,670 | | | | | | 904,031 | | |
Vijay Shreedhar, Ph.D.
|
| | | | 1,675,963 | | | | | | 1,024,988 | | |
($ in millions)
|
| |
2021E
|
| |
2022E
|
| |
2023E
|
| |
2024E
|
| |
2025E
|
| |
2026E
|
| ||||||||||||||||||
Total Revenue(1)
|
| | | $ | 96 | | | | | $ | 125 | | | | | $ | 155 | | | | | $ | 194 | | | | | $ | 234 | | | | | $ | 281 | | |
Gross Profit
|
| | | $ | 94 | | | | | $ | 121 | | | | | $ | 150 | | | | | $ | 188 | | | | | $ | 227 | | | | | $ | 272 | | |
EBIT
|
| | | $ | (27) | | | | | $ | (6) | | | | | $ | 19 | | | | | $ | 57 | | | | | $ | 94 | | | | | $ | 135 | | |
Levered Free Cash Flow(2)
|
| | | $ | (38) | | | | | $ | (20) | | | | | $ | (7) | | | | | $ | 17 | | | | | $ | 59 | | | | | $ | 127 | | |
($ in millions)
|
| |
2027E
|
| |
2028E
|
| |
2029E
|
| |
2030E
|
| |
2031E
|
| |
2032E
|
| ||||||||||||||||||
Total Revenue(1)
|
| | | $ | 325 | | | | | $ | 361 | | | | | $ | 392 | | | | | $ | 239 | | | | | $ | 48 | | | | | $ | 23 | | |
Gross Profit
|
| | | $ | 315 | | | | | $ | 350 | | | | | $ | 380 | | | | | $ | 232 | | | | | $ | 46 | | | | | $ | 23 | | |
EBIT
|
| | | $ | 164 | | | | | $ | 182 | | | | | $ | 197 | | | | | $ | 110 | | | | | $ | (4) | | | | | $ | (6) | | |
Levered Free Cash Flow(2)
|
| | | $ | 169 | | | | | $ | 155 | | | | | $ | 167 | | | | | $ | 113 | | | | | $ | 6 | | | | | $ | 1 | | |
($ in millions)
|
| |
2021E
|
| |
2022E
|
| |
2023E
|
| |
2024E
|
| |
2025E
|
| |
2026E
|
| ||||||||||||||||||
Total Revenue(1)
|
| | | $ | 99 | | | | | $ | 132 | | | | | $ | 173 | | | | | $ | 218 | | | | | $ | 279 | | | | | $ | 339 | | |
Gross Profit
|
| | | $ | 96 | | | | | $ | 128 | | | | | $ | 167 | | | | | $ | 212 | | | | | $ | 270 | | | | | $ | 328 | | |
EBIT
|
| | | $ | (25) | | | | | $ | 1 | | | | | $ | 36 | | | | | $ | 80 | | | | | $ | 137 | | | | | $ | 191 | | |
Levered Free Cash Flow(2)
|
| | | $ | (37) | | | | | $ | (14) | | | | | $ | 5 | | | | | $ | 35 | | | | | $ | 102 | | | | | $ | 182 | | |
($ in millions)
|
| |
2027E
|
| |
2028E
|
| |
2029E
|
| |
2030E
|
| |
2031E
|
| |
2032E
|
| ||||||||||||||||||
Total Revenue(1)
|
| | | $ | 394 | | | | | $ | 440 | | | | | $ | 478 | | | | | $ | 291 | | | | | $ | 58 | | | | | $ | 29 | | |
Gross Profit
|
| | | $ | 383 | | | | | $ | 426 | | | | | $ | 464 | | | | | $ | 282 | | | | | $ | 56 | | | | | $ | 28 | | |
EBIT
|
| | | $ | 229 | | | | | $ | 257 | | | | | $ | 279 | | | | | $ | 160 | | | | | $ | 6 | | | | | $ | (1) | | |
Levered Free Cash Flow(2)
|
| | | $ | 191 | | | | | $ | 207 | | | | | $ | 227 | | | | | $ | 157 | | | | | $ | 15 | | | | | $ | 5 | | |
| | |
2021 Estimated Enterprise Value /
FY + 1 Revenue |
| |||
Aquestive Therapeutics, Inc.
|
| | | | 4.4x | | |
BioDelivery Sciences International Inc.
|
| | | | 2.1x | | |
Catalyst Pharmaceuticals, Inc.
|
| | | | 4.0x | | |
Collegium Pharmaceutical, Inc.
|
| | | | 2.5x | | |
Evolus, Inc.
|
| | | | 3.2x | | |
Flexion Therapeutics Inc.
|
| | | | 3.5x | | |
Paratek Pharmaceuticals, Inc.
|
| | | | 3.3x | | |
Supernus Pharmaceuticals, Inc.
|
| | | | 1.7x | | |
Vanda Pharmaceuticals Inc.
|
| | | | 2.4x | | |
Xeris Pharmaceuticals Inc.
|
| | | | 2.7x | | |
| | | | ||||
75th Percentile
|
| | | | 3.5x | | |
Median
|
| | | | 2.9x | | |
Mean
|
| | | | 3.0x | | |
25th Percentile
|
| | | | 2.4x | | |
|
Announcement Date
|
| |
Acquiror
|
| |
Target
|
| |
TV/ FY+1
Revenue |
|
|
10/01/2020
|
| |
Covis Group S.a.r.l.
|
| |
AMAG Pharmaceuticals, Inc.
|
| |
2.7x
|
|
|
12/12/2018
|
| |
Bausch Health Companies Inc.
|
| |
Synergy Pharmaceuticals Inc.
|
| |
2.1x
|
|
|
12/26/2017
|
| |
Mallinckrodt plc
|
| |
Sucampo Pharmaceuticals, Inc.
|
| |
4.2x
|
|
|
09/12/2016
|
| |
Horizon Pharma plc
|
| |
Raptor Pharmaceutical Corp.
|
| |
5.2x
|
|
|
05/23/2016
|
| |
Arbor Pharmaceuticals, LLC
|
| |
XenoPort, Inc.
|
| |
5.3x
|
|
|
12/11/2013
|
| |
Crealta Pharmaceuticals LLC
|
| |
Savient Pharmaceuticals, Inc.
|
| |
2.7x
|
|
|
07/20/2013
|
| |
Cubist Pharmaceuticals, Inc.
|
| |
Optimer Pharmaceuticals, Inc.
|
| |
3.4x
|
|
| | |
TV/ FY+1 Revenue
|
| |||
75th Percentile
|
| | | | 4.7x | | |
Median
|
| | | | 3.4x | | |
Mean
|
| | | | 3.7x | | |
25th Percentile
|
| | | | 2.7x | | |
Name
|
| |
Date of
Transaction |
| |
Number of
Shares |
| |
Price Per
Share ($) |
| |
Nature of Transaction
|
| ||||||
Neil F. McFarlane
|
| |
September 16, 2021
|
| | | | 56,250 | | | | | $ | 4.65 | | | | RSU Lapse | |
Anna S. Richo
|
| |
August 29, 2021
|
| | | | 3,333 | | | | | $ | 4.48 | | | | RSU Lapse | |
|
Exhibit
No. |
| |
Description
|
|
| (e)(5) | | | | |
| (e)(6) | | | | |
| (e)(7) | | | | |
| (e)(8) | | | | |
| (e)(9) | | | |
| | | | ADAMAS PHARMACUETICALS, INC. | |
| Date: October 25, 2021 | | |
By:
/s/ Neil F. McFarlane
Name: Neil F. McFarlane
Title: Chief Executive Officer |
|
| | | | Very truly yours, | | |||
| | | | LAZARD FRERES & CO. LLC | | |||
| | | | By | | |
/s/Michael Kingston
Michael Kingston
Managing Director |
|
1 Year Adamas Pharmaceuticals Chart |
1 Month Adamas Pharmaceuticals Chart |
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