The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. Portola Pharmaceuticals is a global, commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics that could significantly advance the fields of thrombosis and other hematologic conditions. Jan. 13, 2020 2:30 AM ET Portola Pharmaceuticals, Inc. (PTLA) 95 Comments 25 … With their commitment to commercial excellence, together, we will be able to drive stronger utilization of Andexxa, increase penetration and accelerate adoption in the critical care setting. PORTOLA PHARMACEUTICALS, INC. KemPharm's key near-term catalyst, lead value driver and other pipeline drug candidates are discussed in a ROTH Capital Partners report. Shares of Portola Pharmaceuticals Inc. ptla more than doubled in very active morning trading Tuesday, after the biopharmaceutical company focused on life-threatening blood-related … That put Portola stock within striking distance of the $18 per share buyout price tag. Disclosure: He or members of his household are paid by the following companies mentioned in this article: None. The average analyst estimate called for … The firm listed that its first two commercialized products are Andexxa� and Bevyxxa� (betrixaban), and that it is also advancing and developing cerdulatinib, a SYK/JAK inhibitor for use in treatment of hematologic cancers. Streetwise Reports is registered with the U.S. Patent and Trademark Office. The company states that it has been "the global leader in complement biology and inhibition for more than 20 years and that it has developed and commercializes two approved complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the first and only approved complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder.". Attorney advertising. Oppenheimer optimistic about PDUFA for Portola Pharmaceuticals' AndexXa Oppenheimer PTLA Why Johnson & Johnson (JNJ) should acquire Portola Pharmaceuticals (PTLA) - POTENTIAL BIOTECH M&A. Rigrodsky & Long, P.A.Seth D. RigrodskyGina M. Serra(888) 969-4242 (Toll Free)(302) 295-5310Fax: (302) 654-7530info@rl-legal.com https://rl-legal.com, View source version on accesswire.com: https://www.accesswire.com/588510/PORTOLA-PHARMACEUTICALS-INC-SHAREHOLDER-ALERT-Rigrodsky-Long-PA-Announces-Investigation-of-Buyout, https://www.rigrodskylong.com/cases-portola-pharmaceuticals-inc, securities fraud and corporate class actions, https://www.accesswire.com/588510/PORTOLA-PHARMACEUTICALS-INC-SHAREHOLDER-ALERT-Rigrodsky-Long-PA-Announces-Investigation-of-Buyout. Alexion's Buyout of Portola Pharmaceuticals Gets Investors' Blood Flowing Source: Streetwise Reports (5/5/20) Shares of Portola Pharmaceuticals traded 130% higher after the company reported that it has received an $18 per share buyout offer from Alexion Pharmaceuticals. ", The firms advised that "under the terms of the merger agreement, a subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share in cash." Shares of Portola Pharmaceuticals traded 130% higher after the company reported that it has received an $18 per share buyout offer from Alexion Pharmaceuticals. … Portola’s commercialized medicine, Andexxa ® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya ® in Europe, is the first and only approved Factor Xa inhibitor reversal agent, and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding. announces that it is investigating Portola Pharmaceuticals, Inc. ("Portola") (NASDAQ GS: PTLA) regarding possible breaches of fiduciary duties and other violations of law related to Portola's agreement to be acquired by Alexion Pharmaceuticals, Inc. ("Alexion") (NASDAQ GS:ALXN).Under the terms of the agreement, … The Portola buyout will take Alexion beyond a rare-disease portfolio dominated by blockbuster C5-inhibitor Soliris and follow-up drug Ultomiris. Portola has hired 56 sales reps to market its drugs as of December (plans are to have 120 people hired by year's end); management estimates Bevyxxa's addressable market is … PTLA shares opened 130% higher today at $17.85 (+$10.09, +130.03%) over yesterday's $7.85 closing price. Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine Source: Streetwise Reports (01/20/2021). WILMINTON, DE / ACCESSWIRE / May 5, 2020 / Rigrodsky & Long, P.A. The Portola transaction was among the events Elliott criticized, noting that the $1.7 billion loss in Alexion market capitalization on the day was greater than the $1.4 billion price paid for the company. Portola Pharmaceuticals started off the day with a market capitalization of around $609.0 million with approximately 78.5 million shares outstanding and a short interest of about 23.0%. In addition, the company is developing cerdulatinib for the treatment of a number of hematologic malignancies. Jay Olson, NASDAQ:PTLA, Portola Pharma, … The report indicated that the merger agreement has already been unanimously approved each of the company's boards of directors. Alexion is a global biopharmaceutical company focused on developing life-changing therapies for people living with rare disorders. © 2021 Streetwise Reports. Life Sciences Co. Receives Large Livestock Feed Order from New Client in Mexico Source: Streetwise Reports (01/27/2021). Andexxa rapidly reverses the pharmacologic effect of rivaroxaban and apixaban within two minutes, reducing anti-Factor Xa activity by 92 percent...Given their enhanced resources, global footprint and proven commercial expertise, we look forward to working with Alexion to maximize the value of Andexxa. Specifically, the company is engaged in developing and commercializing novel therapeutics in order to advance the fields of thrombosis and other hematologic conditions. Commercial-stage biotechnology company Portola Pharmaceuticals Inc. (PTLA:NASDAQ), which focuses on blood-related disorders, and global biopharmaceuticals firm Alexion Pharmaceuticals Inc. (ALXN:NASDAQ) announced that they have entered into a definitive merger agreement for Portola to be acquired by Alexion. Alexion will pay $18 per share for Portola, a roughly 130% premium over Portola's closing stock price on May 4. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. ", Portola's President and CEO Scott Garland commented, "In developing and launching Andexxa, Portola has established a strong foundation for changing the standard of care for patients receiving Factor Xa inhibitors that experience a major, life-threatening bleed. Vir Biotechnology shares traded higher after the company reported data from its Phase 1 Chronic Hepatitis B Study that showed VIR-3434 significantly and rapidly reduced hepatitis B surface antigen. The stock has traded today between $17.71 and $17.91 per share and is currently trading at $17.83 (+$10.07, +129.77%). AzurRx BioPharma shares traded 45% higher after the firm advised it had dosed the first two patients in its Phase 2b OPTION 2 Extension Study of MS1819 for treatment of exocrine pancreatic insufficiency in patients with cystic fibrosis. Announces Investigation of Buyout Alexion plans to fund the purchase with existing cash on hand and the transaction is expected to close in Q3/20. Subscribe. ", Alexion is a global biopharmaceutical company based in Boston, Mass., with offices in 50 countries worldwide. Portola Pharmaceuticals, Inc. engages in the development and commercialization of novel therapeutics in the areas of thrombosis, other hematologic disorders and inflammation. WILMINTON, DE / ACCESSWIRE / May 5, 2020 / Rigrodsky & Long, P.A. AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients Source: Streetwise Reports (01/22/2021). Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. announces that it is investigating Portola Pharmaceuticals, Inc. ("Portola") (NASDAQ GS: PTLA) regarding possible breaches of fiduciary duties and other violations of law related to Portola's agreement to be acquired by Alexion Pharmaceuticals, Inc. ("Alexion") (NASDAQ GS:ALXN).Under the terms of the agreement, … Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Prior results do not guarantee a similar outcome. Aclaris Shares Triple in Value on Positive Topline Data from Phase 2a Rheumatoid Arthritis Trial Source: Streetwise Reports (01/19/2021). The worm appears to have finally turned for Esperion as the recent buyout by AstraZeneca of Alexion Pharmaceuticals has presented the company with a top free agent with significant experience selling three different cardiovascular drugs at Merck (), Sanofi (), and Portola.. Esperion recently pounced and hired Sheldon Koenig, a proven leader in the cardiovascular market, as Chief Operating Officer. All rights reserved. Alexion inked a deal last week to buy Portola Pharmaceuticals and its bleeding drug Andexxa for $1.4 billion. Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial Source: Streetwise Reports (01/27/2021). The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Disclosure: Author is Long NBIX, ENTA, PTLA . Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Shares of Aurinia Pharmaceuticals traded 30% higher after the company reported that the U.S. Food and Drug Administration approved its LUPKYNIS� (voclosporin) for use in treating adults with active lupus nephritis. Founded by the same team that brought you Streetwise Reports. Including a loading dose the treatment per patient is $645. Portola Pharmaceuticals ($2.5bn) Company reported only $33,000 in sales for late anticoagulant market entrant Bevyxxa and $2.2m for the antidote Andexxa, leaving a lot of challenges ahead after the retirement of CEO Bill Lis, effective Aug. 1. He just doesn't worry about Wall Street's buyout scuttlebutt about Portola Pharmaceuticals Inc., the 312-person company he … 6) This article does not constitute medical advice. It's not that Scott Garland doesn't care. Coverage Initiated on Biotech 'Improving Drugs Via Prodrug' Source: Streetwise Reports (01/27/2021). By leveraging Alexion's strong operational and sales infrastructure and deep relationships in hospital channels, we are well positioned to expand the number of patients helped by Andexxa, while also driving value for shareholders. The acquisition adds Factor Xa inhibitor reversal agent Andexxa ® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya ® in … Readers should always contact their healthcare professionals for medical advice. In a 200… Portola Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis, and other hematologic disorders and inflammation in Europe and the United States. 2, 2020-- Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced the successful completion of its acquisition of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Click here for important disclosures about sponsor fees. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. This 35-42 day drug at WAC price of $15 a pill. Revenue opportunity – Bevyxxa (betrixaban) launch is targeting 4 million people in US alone. It offers Andexxa, and Bevyxxa medicines. The company noted that "following successful completion of the tender offer, Alexion will acquire all remaining shares not tendered in the offer at the same price of $18 per share through a merger. WILMINTON, DE / ACCESSWIRE / May 5, 2020 / Rigrodsky & Long, P.A. Alexion said it has entered into a definitive agreement to acquire commercial-stage biopharma Portola for $18 per share in cash, or about $1.4 billion in … By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness, Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial, Life Sciences Co. Receives Large Livestock Feed Order from New Client in Mexico, Coverage Initiated on Biotech 'Improving Drugs Via Prodrug', Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data, Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug, AzurRx Doses First Two People in Expanded Phase 2b Trial of Cystic Fibrosis Patients, Gritstone Oncology Licenses LNP Platform from Genevant Sciences to Develop COVID-19 Vaccine, Biotech Given Go-Ahead to Proceed with Phase 3 COVID-19 Study, Aclaris Shares Triple in Value on Positive Topline Data from Phase 2a Rheumatoid Arthritis Trial. Their total debt is $31 billion. Shares of Portola Pharmaceuticals Inc. (PTLA) were down more than 39% in extended trading on Thursday after the Company announced lackluster … Alexion's Buyout of Portola Pharmaceuticals Gets Investors' Blood Flowing, Portola Pharmaceuticals Inc. (PTLA:NASDAQ), Alexion Pharmaceuticals Inc. (ALXN:NASDAQ), Want to be the first to know about interesting. Andexxa is a strategic fit with our existing portfolio of transformative medicines and is well-aligned with our demonstrated expertise in hematology, neurology and critical care...We believe Andexxa has the potential to become the global standard of care for patients who experience life-threatening bleeds while taking Factor Xa inhibitors apixaban and rivaroxaban. To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-portola-pharmaceuticals-inc. If you would like to discuss this investigation and your rights cost and obligation free, please contact Seth D. Rigrodsky or Gina M. Serra toll free at (888) 969-4242 or by e-mail at info@rl-legal.com. Shares of Portola Pharmaceuticals traded 130% higher after the company reported that it has received an $18 per share buyout offer from Alexion Pharmaceuticals. Portola Pharma UK Limited: Website: portola.com: Portola Pharmaceuticals is an American clinical stage biotechnology company that researches, develops and commercializes drugs. The acquisition is said to provide a key addition to Alexion's diversified commercial portfolio. Portola Pharmaceuticals estimates that the drug product achieved global sales of $111 million for the year and only $28 million in the fourth quarter. Avivagen Inc. reported it has secured a six tonne order for OxC-beta� Livestock from a new customer in Queretaro City, Mexico. 4) The article does not constitute investment advice. Please refer to important disclosures on pages 5 … The company was founded by Charles J. Homcy and David R. Philips on September 2, 2003 and is headquartered in South San Francisco, CA. Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC� Study for treatment of hospitalized ICU COVID-19 patients. The centerpiece of the deal is a bleeding reversal agent, Andexxa, designed for patients using two common anticoagulant drugs, Xarelto and Eliquis. Alexion agreed to buy Portola Pharmaceuticals and its sole approved medicine, anticoagulant reversal agent Andexxa, in a deal valued at around $1.4 billion, the drugmakers said Monday. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The purchase is subject to approval by a majority interest of Portola's common stockholders tendering their shares along with ordinary closing conditions and regulatory approvals. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness Source: Streetwise Reports (01/29/2021). Portola is headquartered in South San Francisco, Calif., and is a commercial-stage biopharmaceutical company focused on treating patients with serious blood-related disorders. Vir Shares Climb 48% on Initial Phase 1 Chronic Hepatitis B Trial Data Source: Streetwise Reports (01/26/2021). Assuming it doesn’t get a buyout bid first. Headquartered and founded in South San Francisco, California, Portola Pharmaceuticals is a … Its lead product Andexxa, an antidote for the treatment of rivaroxaban and apixaban under the Ondexxya Brand. He or members of his household own securities of the following companies mentioned in the article: None. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. 5 January 2019 (reposting) JNJ has $16 billion in cash and cash equivalents as of Q318 and an additional $3.3 billion in marketable securities with net cash flows from operations of about $4 billion a quarter. Shares of Aclaris Therapeutics Inc. soared to a new 52-week high after the company reported positive preliminary topline data from its Phase 2a trial of oral ATI-450 for moderate to severe rheumatoid arthritis. The deal values Portola stock at a 132% premium to Monday's closing price. The report explained that "Portola's commercialized medicine, Andexxa� [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya� in Europe, is the first and only approved Factor Xa inhibitor reversal agent, and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding. 1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. Portola: Still Bleeding, What I'm Looking For Before Buying It Back. Algernon Pharmaceuticals reported that it has been granted approval from the Data and Safety Monitoring Board to conduct a Phase 3 Study of Ifenprodil for SARS-CoV-2. Portola Pharmaceuticals is a commercial-stage therapeutics company based in South San Francisco. Shares of Portola Pharmaceuticals traded 130% higher after the company reported that it has received an $18 per share buyout offer from Alexion Pharmaceuticals. Get the Latest Investment Ideas Delivered Straight to Your Inbox. Under the terms of the agreement, shareholders of Portola will receive $18.00 in cash for each share of Portola they own. Portola is in the early stages of commercial launch of two novel therapies for various thrombotic disorders, Bevyxxa and Andexxa. ", Ludwig Hantson, Ph.D., CEO of Alexion, remarked, "The acquisition of Portola represents an important next step in our strategy to diversify beyond C5. BOSTON--(BUSINESS WIRE)--Jul. Biotech Given Go-Ahead to Proceed with Phase 3 COVID-19 Study Source: Streetwise Reports (01/20/2021). The company focuses primarily on drugs used in the treatment of thrombosis and hematological malignancies. DD. Shares of Gritstone Oncology reached a new 52-week high price after the company advised it entered into a non-exclusive licensing agreement with Genevant Sciences to develop and commercialize self-amplifying RNA vaccines for use against SARS-CoV-2. Aurinia Pharma Shares Open at 52-Week High as FDA Approves Adult Lupus Nephritis Drug Source: Streetwise Reports (01/25/2021). Rare disease drugmaker Alexion will buy Portola Pharmaceuticals for $1.44 billion, the latest deal aimed at expanding its business beyond Soliris, its flagship product and top-selling therapy. Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide. announces that it is investigating Portola Pharmaceuticals, Inc. ("Portola") (NASDAQ GS: PTLA ) … announces that it is investigating Portola Pharmaceuticals, Inc. ("Portola") (NASDAQ GS: PTLA) regarding possible breaches of fiduciary duties and other violations of law related to Portola's agreement to be acquired by Alexion Pharmaceuticals, Inc. ("Alexion") (NASDAQ GS:ALXN). WILMINTON, DE / ACCESSWIRE / May 5, 2020 / Rigrodsky & Long, P.A. Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial. PTLA DEADLINE ALERT - Bronstein, Gewirtz & Grossman, LLC Reminds Portola Pharmaceuticals Inc. Investors With Losses Exceeding $100K Of Class Action … This article is not a solicitation for investment. Under Janssen, they co-promote … Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. Source: Portola Pharmaceuticals Indication: Only FDA approved drug from prophylaxis of venous thromboembolism (VTE) in adult patients hospitalized for an acute medical illness who are at risk for thromboembolic complication due to moderate or severe restricted mobility and other risk factors for VTE.
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