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So for those that are new or want to know what is going on with ARIA, I'm going to tell you.
ARIA's drug Ponatinib is essentially a best in class drug to treat CML and GIST once they get the kinks worked out. Big Pharma knows this and is why ARIA was trading above $20/share in 2013. People were expecting a buyout for much higher than $20.
Then the FDA sideswiped ARIA and the stock was crushed. And eventhough the FDA reversed their decision the stock remains deeply oversold. Sarissa Capital and other smart funds bought millions of shares under $7 share because they know the value of Ponatinib. As does LLY which is why LLY approached CEO Harvey Berger to see if he would take $20/share for the company. Now the thing is Harvey knows ARIA is worth atleast $30-$40 share and he wants to keep his job so he effectively told them to up their offer by alot! Which they did not do.
In steps Denner with Sarissa. He and the other new fund owners who hold tens of millions of shares, see a guaranteed 400% profit based on LLY's offer and are now going to do the Carl Icahn method of forcing that sale! To do that they need board seats which they are getting now.
So what does this all mean?
It means Denner is going to take atleast 2 board seats and probably more by joining forces with other hedgefunds (if he needs to) and then within days to weeks this company will be sold to the highest bidder which is anywhere from $15-$30 but probably just over $20.
If this helped you, you're welcome and good luck! Less
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