Question-and-Answer SessionOperator Operator Instructions. Your first question comes from the line of Bert Hazlett from BMO Capital Markets. Jim Tumbering - BMO Capital Markets It’s Jim Tumbering with Bert. Two questions. First, maybe if you could just quantify the financial benefit going forward of some of the...
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Penwest Pharmaceuticals (NASDAQ: PPCO) shares are trading near their 52-week lows and some investors are growing restless. Tang Capital and Perceptive Life Sciences are two such shareholders that own a combined 40 percent of the troubled company. The investors expressed serious concerns about Penwest’s direction and believe the company should be liquidated to unlock value. In a letter to the board, Tang Capital and Perceptive Life Sciences wrote: We write to express serious concerns about the current direction of Penwest in the hope that you will take[More...]
Penwest Pharmaceuticals (NDAQ: PPCO) may see some changes during the next annual meeting after a large shareholder proposed a new slate of directors for the board. Perceptive Life Sciences, Tang Capital Partners, and their affiliates collectively own 37.5% of the pharmaceutical company and nominated Joseph Edelman, Keven Tang, and Andrew Levin to the board at the 2009 annual meeting. Investors should be careful before they vote in the new board members, however. Some rhetoric contained within a Schedule 13D filing with the SEC raises some questions. The funds commented: While we strongly believe that changes to the board of directors are in the best interest of all shareholders of the company, … (we) may receive unique benefits if the nominees set forth herein are elected to the board. Such unique benefit[More...]
What do Nancy Pelosi and Ann Coulter have in common? They both like the Grateful Dead. #1 IPO for 2006 was Riverbed[RVBD]And gleefully in last place was Vonage [VG]. Spassgesellschaft=The fun society or an apolitical consumer culture that puts hedonism first.Root kit functionality spam killers from Symantec[SYMC] Pete from Optionsmonster called in at 9:15 from the CBOE. Tony Romo-Carri Underwood Cattle Futures-Oil-[XOM] [XLE] [MON] Penwest Pharmaceuticals [PPCO]Feb 17 ½ calls. Is there a drug in the pipe line? Caution on Halliburton [HAL] bottom pickers DON’T GET Faked out. CoffeyGrinds is live on MN1.com 9amCST Yahoo IM=mn1studio
What do Nancy Pelosi and Ann Coulter have in common? They both like the Grateful Dead. #1 IPO for 2006 was Riverbed[RVBD]And gleefully in last place was Vonage [VG]. Spassgesellschaft=The fun society or an apolitical consumer culture that puts hedonism first.Root kit functionality spam killers from Symantec[SYMC] Pete from Optionsmonster called in at 9:15 from the CBOE. Tony Romo-Carri Underwood Cattle Futures-Oil-[XOM] [XLE] [MON] Penwest Pharmaceuticals [PPCO]Feb 17 ½ calls. Is there a drug in the pipe line? Caution on Halliburton [HAL] bottom pickers DON’T GET Faked out. CoffeyGrinds is live on MN1.com 9amCST Yahoo IM=mn1studio Recorded 1/5/07
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