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Stockwinners Market Radar for December 25, 2017 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| CYRN | Hot Stocks17:08 EDT Warburg Pincus completes tender offer for Cyren ordinary shares - Warburg Pincus announced that it has successfully completed its previously announced tender offer to purchase 31,265,358 ordinary shares of Cyren with a nominal value of NIS 0.15 per share at $2.50 per share, net to the seller in cash, less any required withholding taxes and without interest. The tender offer, which commenced on November 20, 2017, expired on December 24, 2017. WP XII Investments B.V., an entity controlled by funds affiliated with Warburg Pincus, was advised by the depositaries for the offer that, as of the final expiration date of the tender offer, a total of 16,980,779 Cyren shares were validly tendered pursuant to the offer, representing approximately 30% of Cyren shares on a partially diluted basis. After payment for the Cyren shares tendered in the offer and accepted for payment, Warburg Pincus will beneficially own 27,576,300 Cyren shares, representing approximately 49% of Cyren shares on a partially diluted basis or approximately 52% of the outstanding Cyren shares.
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| SMMT RHHBY | Hot Stocks17:03 EDT Summit Therapeutics announces acquisition of Discuva - Summit Therapeutics (SMMT) announced it has obtained an innovative research and development platform for the generation of differentiated antibiotic compounds through its acquisition of Discuva. The acquisition expands Summit's interests in infectious diseases that are led by its flagship precision C. difficile infection antibiotic candidate ridinilazole. The company is now better placed to advance additional potential drug treatments for patients with serious bacterial infections where there is substantial unmet need, while in parallel continuing to advance its clinical and research program in Duchenne muscular dystrophy. The proprietary bacterial genetics-based platform facilitates the discovery and development of novel, differentiated antibiotics. This platform combines transposon technology with bioinformatics to create a tool to identify new antibacterial drug targets, elucidate antibiotic mechanisms of action and optimize against bacterial resistance to generate new antibiotic drug candidates. The platform is utilizing proprietary libraries of multiple pathogens associated with antibiotic resistance. These provide coverage against the ESKAPE pathogens, a leading cause of multi-drug resistance and hospital acquired infections throughout the world, and pathogens listed as urgent or serious threats by the U.S. Centers for Disease Control. With activity demonstrated against a number of these bacterial targets, and a research collaboration between Discuva and Roche (RHHBY), the platform has already shown promise. Under the terms of the acquisition, Summit acquired 100% of the issued share capital of Discuva. The consideration to Discuva shareholders comprised of GBP5M in cash and GBP5M in new ordinary shares of Summit of one penny nominal value issued to Discuva shareholders at a price of 170.4 pence per share, representing a 3.3% premium to Summit's mid-market closing share price on 22 December 2017.
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