We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Allos Therapeutics, Inc. (MM) | NASDAQ:ALTH | 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% | 1.83 | 0 | 01:00:00 |
AMAG Pharmaceuticals Inc. (AMAG) recently announced that it has hired Jefferies & Company, Inc. (JEF) as financial advisor to help it evaluate strategic alternatives to enhance stockholder value. The options under the anvil would also include a potential sale, merger or acquisition. Jefferies and Company is expected to show AMAG the best path forward, by leveraging its core assets. AMAG’s core assets are its sole marketed product Feraheme, its balance sheet and its infrastructure.
Feraheme, which is not doing too well currently, is an injectable drug for intravenous use as an iron replacement therapy for the treatment of iron deficiency anemia (IDA) in adult patients suffering from chronic kidney disease (CKD).
Amid all the financial uncertainties, AMAG announced the resignation of its president and chief executive officer (CEO) Brian J.G. Pereira early this month. The company continues to look for a permanent CEO.
Late last month, AMAG announced the termination of the deal to merge with Colorado based Allos Therapeutics, Inc. (ALTH). AMAG had entered into an agreement to merge with Allos in July this year in an all stock deal that had a total equity value of $686 million. The deal failed to receive sufficient shareholder votes necessary for consummation. AMAG management instead decided to restructure its expenses, including a workforce reduction of 25%, to bring it in line with expected sales from Feraheme.
Our Recommendation
We currently have an Outperform recommendation on the stock. The stock carries a Zacks #2 Rank (short term “Buy” rating). We are pleased with the company’s proactive efforts to redress its problems and drive shareholder value by exploring strategic alternatives. The hiring of a reputed advisory firm is a step in the right direction.
1 Year Allos Therapeutics, Inc. (MM) Chart |
1 Month Allos Therapeutics, Inc. (MM) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions