On Tuesday, Shares of Depomed Inc (NASDAQ:DEPO), remained flat at $27.40.
Depomed, declared that its Board of Directors, after careful consideration and with the assistance of its financial and legal advisors, has unanimously rejected Horizon Pharma plc’s (HZNP) revised proposal.
On August 13, 2015, Horizon revised its previous proposal and set an exchange ratio of 0.95 of Horizon shares for each share of Depomed, and offered to comprise up to 25% in cash subject to a reduction in the total consideration per share. Depomed notes that the all-stock proposal has a current value below $30 per share,[1] which is less than the $33 per share proposal Horizon formerly made, and represents ownership in the combined company of less than 29%, which we believe is well below what Depomed would contribute to the combined company.
Depomed, Inc., a specialty pharmaceutical company, develops products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the administration of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults; and Lazanda (fentanyl) nasal spray, an intranasal fentanyl drug used to manage breakthrough pain in adults.
Shares of EXACT Sciences Corporation (NASDAQ:EXAS), inclined 0.90% to $19.72, during its last trading session.
Exact Sciences Corp., declared that Cologuard was awarded a Wisconsin Innovation Award (WIA) in the “Healthcare/Health IT” category at the second annual ceremony held on August 18, 2015 at Discovery World in Milwaukee, Wisconsin. Cologuard was chosen from more than 170 entries and 33 finalists to receive one of 10 awards.
“Cologuard is an innovative test for the early detection of colon cancer that provides patients with an easy-to-use and noninvasive screening option,” said Kevin Conroy, Chairman and CEO of Exact Sciences. “The uniqueness of Cologuard is indicative of the creativity, ingenuity and partnership taking place throughout Wisconsin. We are honored to be recognized with this award and remain committed to achieving our mission of assisting eradicate colon cancer through early detection.”
Cologuard is the first and only FDA approved noninvasive stool DNA screening test for colorectal cancer. It detects the presence of cancer and precancer by analyzing both DNA and blood in the stool and offers people an easy-to-use screening test, which they can do in the privacy of their own home. Unlike other screening options, Cologuard does not require medication or dietary restrictions or bowel preparation preceding to taking the test. Cologuard is accessible by prescription only through a healthcare provider.
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing non-invasive colorectal cancer screening products. The company develops the Cologuard, a non-invasive stool-based DNA colorectal cancer-screening test that is designed to detect pre-cancerous lesions or polyps, and each of the four stages of colorectal cancer.
At the end of Tuesday’s trade, Shares of Wabash National Corporation (NYSE:WNC), lost -0.50% to $11.97.
Wabash National Corporation, stated results for the second quarter ended June 30, 2015.
Net income for the second quarter of 2015 was $28.6 million, or $0.41 per diluted share, contrast to second quarter 2014 net income of $16.2 million, or $0.23 per diluted share. Second quarter 2015 non-GAAP adjusted earnings raised $6.7 million to $23.6 million, or $0.33 per diluted share, from $16.9 million, or $0.24 per diluted share, for the second quarter 2014. Non-GAAP adjusted earnings for the second quarter of 2015 excludes $8.3 million of gains from the sale of two former Retail locations during the quarter and a $0.3 million charge in connection with the refinancing of the Company’s asset based lending facility in June 2015. Non-GAAP adjusted earnings for the second quarter of 2014 comprises charges totaling $1.1 million related to the early extinguishment of debt and the transition of three Retail locations to independent dealer facilities.
For the second quarter of 2015, the Company’s net sales raised 6 percent to $515 million from $486 million in the preceding year quarter, and operating income raised 24 percent to a record quarter of $42.1 million contrast to operating income of $33.9 million for the second quarter of 2014. Operating EBITDA, a non-GAAP measure that excludes the effects of certain recurring and non-recurring items, for the second quarter of 2015 was $53.7 million, an enhance of $8.0 million contrast to Operating EBITDA for the previous year period. On a trailing twelve month basis, the Company’s net sales were $2.0 billion, generating Operating EBITDA of $185.6 million, or 9.4 percent of net sales. Continued improvement in operating performance is attributable to the successful execution of the Company’s growth and diversification strategy.
Wabash National Corporation designs, manufactures, and markets truck and tank trailers, intermodal equipment, and transportation related products in North America. Its Commercial Trailer Products segment provides dry van trailers under the DuraPlate, DuraPlateHD, DuraPlate, XD-35, and FreightPro trademarks; platform trailers under the Transcraft, Eagle, and Benson trademarks; refrigerated trailers under the ArcticLite trademark; and specialty products, such as converter dollies, big tire haulers, Roadrailer trailers, rail products, aftermarket component products, parts, and others, in addition to used trailers and laminated hard wood oak products.
Finally, Harris Corporation (NYSE:HRS), ended its last trade with -1.99% loss, and closed at $73.76.
Harris Corporation has received a $97 million order to provide the U.S. Naval Air Systems Command (NAVAIR) with self-protection jammers for the integrated defensive electronic countermeasures (IDECM) program. The order was received during the fourth quarter of Harris’ fiscal 2015.
Harris will provide its ALQ-214 radio frequency integrated countermeasure system, which is already used by the Navy to protect carrier-based F/A-18s, counting both Hornets and Super Hornets, from sophisticated RF threats such as hostile radars and air defense systems.
Harris has supported the IDECM program for 18 years — continually improving the ALQ-214’s capabilities to address the evolving airborne electronic warfare threat landscape. Under the latest order, Harris will start producing the twelfth full-rate production lot of the system, with an option for the thirteenth lot to be exercised in 2016. The 46 systems plus spare weapons replaceable assemblies will equip new aircraft as well as modernize the existing fleet. The order also comprises field support and assembly repairs.
Harris Corporation, together with its auxiliaries, operates as an international communications and information technology company worldwide. The company operates through RF Communications, Integrated Network Solutions, and Government Communications Systems segments.
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