NEWS
Cycle Pharmaceuticals Reaffirms All-Cash Proposal to Acquire Vanda Pharmaceuticals for $8.00 Per Share
Cycle Pharmaceuticals has reaffirmed its proposal to acquire Vanda Pharmaceuticals (NASDAQ: VNDA) for $8.00 per share in an all-cash transaction. This offer represents an 80% premium to Vanda's closing share price on October 11, 2024, and values the company at $488 million on a fully diluted basis.
Cycle criticizes Vanda's board for refusing to engage and for implementing bylaw amendments that Cycle views as entrenching efforts. The proposal comes after Vanda's recent failure to receive FDA approval for tradipitant following an unsuccessful Phase 3 trial.
Cycle urges Vanda shareholders to express their views on the proposal to the independent directors of Vanda's board. The company states it has substantial cash on hand and is confident in obtaining committed financing for the transaction.
Cycle criticizes Vanda's board for refusing to engage and for implementing bylaw amendments that Cycle views as entrenching efforts. The proposal comes after Vanda's recent failure to receive FDA approval for tradipitant following an unsuccessful Phase 3 trial.
Cycle urges Vanda shareholders to express their views on the proposal to the independent directors of Vanda's board. The company states it has substantial cash on hand and is confident in obtaining committed financing for the transaction.
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Lnova : I just got this news too
Lnova : But the news says that Vnda hasn’t engaged with Cycle about it?
Lnova : Cycle Pharmaceuticals: Vanda's Board and Mana - moomoo
Jaguar8 OP Lnova : Yup. It ain’t a closed deal. It’s a proposal
福贵吉祥 知足常乐 : Something is weird. Offer to buy at 8 dollars per share in cash but short keep selling
Jaguar8 OP 福贵吉祥 知足常乐 : Short doesn’t care
Lnova :
Jaguar8 OP Lnova : It is just a proposal. It likely means they don’t want to sell VNDA
福贵吉祥 知足常乐 Jaguar8 OP : Likely to accept the offer this round.
Jaguar8 OP 福贵吉祥 知足常乐 : We shall see. I don’t see any signs of that. If it happens, then maybe good for them. There is likely more issue behind closed doors why they are not engaging