Afexa sees benefits in Valeant takeover

After attracting a friendly all-cash takeover offer from Valeant Pharmaceuticals International (NYSE:VRX) to trump a hostile bid, Afexa Life Sciences (TSX:FXA) is enthused about the path forward with Valeant. “Through our discussions with Valeant, it became apparent that they are interested in all parts of our business, not only the Canadian COLD-FX business,” Afexa CEO [...]

Labopharm to be acquired by Paladin Labs

Labopharm (NASDAQ:DDSS; TSX:DDS) has accepted a takeover bid from Paladin Labs (TSX:PLB), which will make an offer for all of the common shares of Labopharm at a price of 28.57 cents a share in cash. The purchase price represents a premium of 57.4% over the volume-weighted average price of Labopharm’s shares of 18.15 cents for the 30 trading [...]

Canaccord ups Heartware; cuts Thoratec

In a new report about the left ventricular assist device (LVAD) market, Canaccord Genuity has raised its 12-month price target for Heartware (NASDAQ:HTWR) to $115 from $98 and lowered its target for Thoratec (NASDAQ:THOR) to $32 from $43. “We prefer Heartware long-term but believe Thoratec common represents a favorable risk/reward investment at current levels,” writes [...]

Canaccord ups target on IMRIS

Canaccord Genuity has raised its price target on IMRIS (NASDAQ:IMRS; TSX:IM) to $10.50 (U.S.) from $9, saying the stock warrants a premium multiple to the small-cap med-tech peer group, given its growth profile. The stock closed at $7.31 on Monday. Analyst Jason Mills writes that IMRIS offers investors a “rare opportunity to participate in a [...]

Analysts hike price target on Theratechnologies

Versant Partners and Canaccord Genuity raised their price targets on Theratechnologies (TSX:TH) after the company signed a partnership with Sanofi-Aventis to distribute its Egrifta HIV treatment in Latin America, Africa and the Middle East, and confirmed that the U.S. selling price of the drug would be $23,900 (U.S.) a year, higher than previously assumed. Cannacord [...]

IMRIS prices $52.5 million offering

IMRIS (TSX:IM; NASDAQ:IMRS) priced a public offering of 10.5 million common shares at $5 (U.S.) a share to raise $52.5 million in connection with listing its shares on the NASDAQ Global Market. An additional 500,000 shares are being sold by a certain selling shareholder of IMRIS at the same price. Canaccord Genuity and Lazard Capital [...]

Canaccord ups Theratechnologies on FDA approval

Canaccord Genuity has raised its price target on Theratechnologies (TSX:TH) to $7.85 from $7 after the FDA approved the company’s lead drug Egrifta for the treatment of HIV lipodystrophy, a metabolic disorder associated with HIV.  The stock closed at $5 on Wednesday. Analyst Neil Maruoka writes that he expects Egrifta to be launched in the [...]

IMRIS to list on Nasdaq and sell stock

IMRIS (TSX:IM) has filed a registration statement as part of an IPO in the U.S. and has received conditional approval to list its common shares on the NASDAQ Global Market under the symbol IMRS. IMRIS proposes to offer 10 million common shares and certain selling shareholders propose to offer 3.7 million shares through a syndicate [...]

Oncolytics in $25 million bought deal

A group of underwriters have agreed to purchase 5.44 million units of Oncolytics Biotech (TSX:ONC; NASDAQ:ONCY) in a bought deal at a price of $4.60 each for total proceeds of about $25 million. Each unit consists of one common share and one-half of a warrant, with each whole warrant entitling the holder to buy an [...]

IMRIS to develop radiation treatment with Varian

IMRIS (TSX:IM) and Varian Medical Systems (NYSE:VAR) have agreed to co-develop a radiation therapy suite that couples IMRIS’ magnetic resonance imaging technology with Varian’s TrueBeam radiotherapy system for use in treating a variety of cancers. “We are seeking to augment physicians’ ability to target cancerous tissue very precisely, even in areas of the body that [...]

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