OPKO Health NR – Aquisition

OPKO Acquires Next Generation Dry Powder Inhaler to Treat Respiratory Disorders

OPKO HEALTH INC(OPK:NYSE, US)

BuySell
8.20USDDecrease0.13(-1.56%)Volume: 
Average
As of 17 Apr 2014 at 11:53 AM EDT.  

QUOTE DETAILS

Open 8.29 P/E Ratio (TTM)
Last Bid/Size 8.19 / 12 EPS (TTM) -0.33
Last Ask/Size 8.20 / 20 Next Earnings 5 May 2014
Previous Close 8.33 Beta 1.01
Volume 1,351,913 Last Dividend
Average Volume 3,501,287 Dividend Yield 0.00%
Day High 8.37 Ex-Dividend Date
Day Low 8.12 Shares Outstanding 412.9M
52 Week High 12.95 # of Floating Shares 221.0759M
52 Week Low 6.14 Short Interest as % of Float 21.06%

Inspiromatic™ Improves Drug Delivery, Monitors Patient Inhalation and Provides Real-Time Patient Feedback

MIAMI–(BUSINESS WIRE)– OPKO Health, Inc. (NYSE:OPK) has entered into a definitive agreement to acquire Inspiro Medical Ltd. (“Inspiro”), an Israeli medical device company developing a new platform to deliver small molecule drugs such as corticosteroids and beta agonists or larger molecules to treat respiratory diseases. Inspiro’s Inspiromatic™ is a “smart” easy-to-use dry powder inhaler with several advantages over existing devices.

Inspiromatic™ offers improved drug deposition to the lower airways of patients and real time data for patient compliance monitoring. The device has an internal microcontroller and flow sensor that controls the delivery of the medication and, using micro-pump technology, dispenses the drug particles at the right speed without the need for forceful inhalation. It also provides instant feedback to the patient with a green or red flasher light to indicate proper inhalation and a beeper after the dose has been delivered. For physicians, Inspiromatic™ provides a built-in logger that stores patient use data for easy access and transmission by electronic devices such as smart phones.

In a recently completed, First In Man double blinded clinical study conducted in 30 asthmatic children comparing Inspiromatic™ to a market leading dry powder inhaler, Inspiromatic™ demonstrated superior pulmonary delivery of the active drug.

“We are pleased to add this next generation inhaler to OPKO’s growing product portfolio,” stated Phillip Frost, M.D., OPKO’s CEO and Chairman. “We expect this innovative device to play a valuable role in the improvement of therapy for asthma, chronic obstructive pulmonary disease, cystic fibrosis and other respiratory diseases. We plan to use the Inspiromatic™ device to test the inhaled form of OPKO’s new sulfated disaccharide drug against these disorders. This drug product is still undergoing pre-clinical testing prior to submission of an IND, but animal data indicates safety and efficacy for both inhaled and orally delivered forms. Of course, we believe that Inspiromatic™ can improve outcomes of treatment with other drugs, those presently available in more ‘standard’ type inhalers, as well as new inhalation drugs being developed. This acquisition fits our strategy of developing new products that address large markets in need of more effective therapeutic solutions.”

Nimrod Kaufmann, CEO and Co-Founder of Inspiro, commented, “We are extremely proud of Inspiro’s success in bringing our smart Inspiromatic™ respiratory drug-delivery device to market. With Inspiro now a part of OPKO, we will be able to help more people faster. Inspiro joining OPKO is a big win for the shareholders of both Inspiro and OPKO, as well as good news for our patients and physicians.”

Eran Feldhay, M.D., CEO of Trendlines Medical, Inspiro’s largest shareholder, added, “The acquisition of Inspiro is our third exit in eight months, all to U.S.-based multinational corporations. This success brings continuing confirmation of the strength of the Trendlines team in fulfilling our vision of creating and developing companies to improve the human condition. We are very pleased to see OPKO take the Inspiro opportunity forward.”

Motley Fool Damns OPKO with Faint Praise

Opko Health (NYSE: OPK) – Friday March 28
Finally, we have hybrid diagnostic and pharmaceutical product developer Opko Health, which offers a great degree of promise thanks to a pipeline that spans a number of indications, but also looks as if its valuation may be way ahead of its potential.

On the bright side Opko has delivered a number of positives in recent months based on its pipeline. For instance rolapitant, an experimental therapy for the prevention of chemotherapy-induced nausea & vomiting, which it licensed to Tesaro (NASDAQ: TSRO) in 2010, met its primary endpoint in both of its phase 3 trials. As part of the deal when it was signed, Opko is eligible to receive up to $121 million in milestone payments as well as share in profits from commercialization in Japan. In addition, Opko has the option to market rolapitant in Latin America. Opko is also in the process of conducting a phase 3 trial of lead drug rayaldy for patients with stage 3 or 4 chronic kidney disease, secondary hyperparathyroidism, and vitamin D insufficiency, which has blockbuster potential.

So while there are good things happening with aspects of Opko’s development process, the underlying fundamentals right now are downright ugly. Despite its revenue doubling in 2013 to $96.5 million, the company’s current valuation of $3.9 billion implies a price-to-sales of about 40! Meanwhile, Opko burned through $58.2 million in cash as its loss more than tripled to $114.8 million for the full year from $31.3 million in the previous year.

Fundamentals aside, the real concern I have is that investors have already factored in stellar results from its late-stage rayaldy trial. I’m not implying that rayaldy hasn’t been demonstrated as safe or effective, because its phase 2 trial did meet its primary endpoint. However, until we know just how effective rayaldy is based on its top-line phase 3 results — due next quarter — it’s probably not wise to push Opko’s valuation near $4 billion. Call me a stickler, but I’d prefer to count my chickens after they’ve hatched.

Long story short, we have a company with a few high profile potential blockbusters, but a valuation that would imply success is a near given. That looks like a formula which implies more downside than upside potential, making it a good watchlist add for risk-taking short-sellers.

TINY New Investment

Much like our interest in Opko Health ( OPK) is a new ( to us ) company that invests in other companies . By not investing in pure research OPK hopes to be at the stage  - or closer to the stage of commercial development. In the case of TINY the company  seeks out investments in the field of nanotechnology .

The portfolio of more than two dozen stocks is ” harvested ” as the investments are taken over by larger firms. At this point Harris is trying to raise its own profile . Until that happens the company is undervalued, unknown and unappreciated . This is a long term position for Jack A. Bass Managed Accounts.

Harris & Harris Group, Inc. (TINY)

-Nasdaq

3.57 Up 0.05(1.42%) Mar 28, 4:00PM EDT
Prev Close: 3.52
Open: 3.50
Bid: 2.86 x 3000
Ask: 4.27 x 1000
1y Target Est: 4.25
Beta: 1.59
Earnings Date: May 5 – May 9 (Est.)
Day’s Range: 3.50 - 3.61
52wk Range: 2.83 - 3.94
Volume: 75,918
Avg Vol (3m): 136,115
Market Cap: 111.37M
P/E (ttm): N/A
EPS (ttm): -0.25
Div & Yield: N/A (N/A)
Quotes delayed, except where indicated otherwise. Currency in USD.

Harris & Harris Group, Inc. (TINY)

For an overview here is a potion of their letter to Shareholders

2013 Annual Letter to Shareholders

Fellow Shareholders:

In our 2012 Annual Letter to Shareholders, we ended with the following statement. “The
current market is one in which to be investing, not harvesting. We believe our actions in
2012 position us to realize greater value when the time to harvest is upon us.” We
believe the market of 2012 has evolved into a market, currently, in which we may have
the potential to harvest returns.

In 2013, investments from our portfolio returned $30.4 million in cash to Harris & Harris
Group. In July 2013, our portfolio company Xradia, Inc., was purchased by Carl Zeiss.
We will receive up to $15.2 million in proceeds from the sale, including amounts held in
escrow. To date, we have received $14 million of this $15.2 million. Our investment cost
in Xradia was $4 million. In 2013, we also sold certain assets of SynGlyco, Inc.,
(previously Ancora Pharmaceuticals) to CordenPharma. We retained the vaccine-related
assets. In January 2014, Kovio, Inc., was acquired by Thin Film Electronics ASA, but we
received no proceeds from this sale.

On February 14, 2014, we announced the signing of definitive documents for the sale of
Molecular Imprints Inc’s. semiconductor business to Canon. The merger currently is
expected to be completed by the end of April 2014, after normal shareholder and
government approvals. We expect to receive $7.0 million in proceeds from the sale,
including amounts to be held in escrow. We could receive an additional $1.7 million
upon the achievement of certain milestone payments. Our investment cost in Molecular
Imprints was $4.6 million. Interestingly, because of a strategic investment we were able
to make in April and June 2011, primarily owing to our evergreen status, we will be the
only financial investor to realize a return on our investment at the initial closing.
Additionally, we will hold ownership in a financed new company established to utilize
Molecular Imprints’ technology for applications in the biomedical and consumer
electronics fields without needing to make an additional new investment. This gives us
another opportunity to generate a return on our original investment in Molecular Imprints
on top of the return generated from the acquisition by Canon

 

 

Insmed Update

INSM : NASDAQ : US$15.91

BUY 
Target: US$30.00

COMPANY DESCRIPTION:
Insmed is focused on developing novel, targeted inhaled
therapies for the treatment of serious orphan lung diseases. Its
lead product candidate is Arikace, a liposomal formulation of FDA
approved antibiotic, amikacin.

All amounts in US$ unless otherwise noted.

 

Life Sciences — Biotechnology
DATA ANALYSIS ARBITRAGE:
TOTALITY OF NTM DATA SUPPORTS
ACTIVITY, SAFETY AND APPROVAL
Investment recommendation
Reiterate BUY, $30 PT on Arikace’s potential in nontuberculous
mycobacteria (NTM).

INSM’s lead drug Arikace is an inhaled liposomal form of FDA-approved amikacin. We view the Ph2 US NTM data as
clearly positive, and culture conversion/safety data as supportive of expedited approval. Our $30 target is based on a pNPV analysis.
Investment highlights
 We see a clear, and likely abbreviated path to approval strongly
supported by culture conversion and QoL data. We think six-month
extension culture conversion, conversion over time, and QoL data to
be presented May 20th at ATS (San Diego) will support a subpart H
filing, a positive AdComm and conditional approval, given what we
see as strong clinically meaningful data in an unmet need.
 Primary endpoint statistics confounded by small numbers, unrelated
death. The sensitivity of the primary endpoint Wilcox rank sum
analysis is underscored by the change in p-value from p=0.148 to
p=0.02 when a repeated measures analysis is conducted excluding
the unrelated patient death. We think FDA’s previous strong focus
on cures/QoL (supported by our talks with KOLs) hasn’t changed.
 QDIP/GAIN gives FDA the flexibility to focus on the drug’s activity:
we think breakthrough status is highly likely. While some investors
are focused on safety, we think the lack of renal and ototoxicity and
note FDA has approved antibiotics for unmet needs with much more
problematic safety profiles (e.g. Sirturo’s black box warning

Trading Alert : Insider Buying and Soros pushing OPK Higher

According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

The overall trend of CEOs is illustrated in the chart below:

Opko Health Inc. (OPK): CEO and Chairman, 10% Owner Phillip Frost Md Et Al Bought 210,900 Shares

CEO & Chairman, 10% Owner of Opko Health Inc. (OPK) Phillip Frost Md Et Al bought 210,900 shares during the past week at an average price of $8.58. Opko Health Inc. was originally incorporated in Delaware in October 1991 under the name Cytoclonal Pharmaceutics Inc. Opko Health Inc. has a market cap of $3.5 billion; its shares were traded at around $8.58 with and P/S ratio of 30.30.

Opko Health recently reported its third quarter 2013 financial results. Net loss for the three months ended Sept. 30, 2013, was $60.0 million, compared to a net loss of $10.2 million for the 2012 period. The increase in net loss for the three months ended Sept. 30, 2013, was primarily related to increased operating and clinical trial activities.

George Soros bought 745,000 shares in the quarter that ended on 09/30/2013, which is 0.072% of the $9.14 billion portfolio of Soros Fund Management LLC. Mario Gabelli owns 15,000 shares as of 09/30/2013, which accounts for 0.0008% of the $17.03 billion portfolio of GAMCO InvestorsOPKO Health Inc(OPK:NYSE, US)

Buy
9.95USDIncrease0.29(3.00%)Volume:
Above Average
As of 17 Mar 2014 at 10:45 AM EDT.

Quote Details

Open 9.77 P/E Ratio (TTM)
Last Bid/Size 9.95 / 76 EPS (TTM) -0.29
Last Ask/Size 9.96 / 19 Next Earnings 5 May 2014
Previous Close 9.66 Beta 1.05
Volume 1,457,907 Last Dividend
Average Volume 2,648,522 Dividend Yield 0.00%
Day High 10.15 Ex-Dividend Date
Day Low 9.76 Shares Outstanding 412.9M
52 Week High 12.95 # of Floating Shares 221.0759M
52 Week Low 6.14 Short Interest as % of Float 20.64%
chart

OPKO Health Resumes Climb

Dr. Frost buys continually

Short interest still to cover

so that means that there is a reduced share availability for short covering in the event of the next News Release

company pipeline closer to commercialization – reducing risk

OPKO Health Inc(OPK:NYSE, US)

Buy for Jack A. Bass Managed Accounts
9.48USDIncrease0.07(0.74%)Volume:
Below Average
As of 13 Mar 2014 at 11:10 AM EDT.

Quote Details

Open 9.52 P/E Ratio (TTM)
Last Bid/Size 9.48 / 3 EPS (TTM) -0.29
Last Ask/Size 9.49 / 13 Next Earnings 5 May 2014
Previous Close 9.41 Beta 1.05
Volume 747,357 Last Dividend
Average Volume 3,205,751 Dividend Yield 0.00%
Day High 9.60 Ex-Dividend Date
Day Low 9.42 Shares Outstanding 412.9M
52 Week High 12.95 # of Floating Shares 221.1504M
52 Week Low 6.14 Short Interest as % of Float 20.64%

Thank you – new readers and old friends Plus OPK / ROX Dr. Frost Update

This morning my second monitor ( two weeks old HP Pavilion went into sleep mode and won’t recognize the connection to my other screen.

Any help would be appreciated.

At the same time – I want to say I am encouraged by the new ” followers” being added each day.

I SUGGEST ANYONE INTERESTED – please read my books – The AMP Portfolio available on Amazon to have an understanding of the strategy (s) employed on my blogs.

If you want personal advice please email me at info@jackbassteam.com

or call me direct at 604-858-3202 ( same time zone as Los Angeles)

There is no charge or obligation.

If you want ongoing portfolio help you can read the ” about Jack A. Bass ” section – Our fees are performance based – 1 % for set up and then 20 % of the annual increase .

Castle Brands has become more volatile after a ” BUY” recommendation from an analyst. That positive review and the  $1.50 target price resulted in a few million shares rise in daily  volume – and likely traders moving in and out of the stock. I was able to pick up more at $ 1.08 yesterday and believe that selling alcohol is as close to recession proof as can be – with a stock price off 90 % from its IPO seven years ago.

today the volume is down considerable as the stock will now build a NEW BASE FOR THE NEXT ADVANCE.

A bargain , a turnaround and a company of Dr. Phillip Frost ( OPK) which Jack A. Bass Managed Funds also owns .

OPKO Health Inc(OPK:NYSE, US)

BuySell
9.31USDIncrease0.17(1.86%)Volume:
Below Average
As of 12 Mar 2014 at 11:36 AM EDT.

Quote Details

Open 9.07 P/E Ratio (TTM)
Last Bid/Size 9.30 / 7 EPS (TTM) -0.29
Last Ask/Size 9.31 / 9 Next Earnings 5 May 2014
Previous Close 9.14 Beta 1.05
Volume 868,864 Last Dividend
Average Volume 3,317,822 Dividend Yield 0.00%
Day High 9.38 Ex-Dividend Date
Day Low 9.01 Shares Outstanding 412.9M
52 Week High 12.95 # of Floating Shares 221.1504M
52 Week Low 6.14 Short Interest as % of Float 21.53%

OPK Insiders Buying – following Jack A. Bass

Yesterday, Feb. 24, 2014, 153 U.S. common stocks issued filings of shares being bought or sold by insiders. The transactions ranged in value from $614.00 to $8,867,579,754,879.72.

Highlighted Stocks Traded by Insiders:

Opko Health (OPK) – ( research report available from The Street.com )

Frost Phillip Md Et Al who is CEO & Chairman at Opko Health bought 17,200 shares at $9.00 on Feb. 24, 2014. Following this transaction, the CEO & Chairman owned 139.3 million shares meaning that the stake was reduced by 0.01% with the 17,200-share transaction.

The shares most recently traded at $9.07, up $0.07, or 0.73% since the insider transaction.  Historical insider transactions for Opko Health go as follows:

  • 4-Week # shares bought: 20,000
  • 4-Week # shares sold: 46,730
  • 12-Week # shares bought: 30,000
  • 12-Week # shares sold: 46,730
  • 24-Week # shares bought: 30,000
  • 24-Week # shares sold: 46,730

The average volume for Opko Health has been 4.0 million shares per day over the past 30 days. Opko Health has a market cap of $3.6 billion and is part of the health care sector and health services industry. Shares are up 5.92% year-to-date as of the close of trading on Monday.

Opko Health, Inc., a pharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies. It operates in two segments, Pharmaceuticals and Diagnostics. Currently there are 3 analysts that rate Opko Health a buy, no analysts rate it a sell, and none rate it a hold.

OPKO Health Inc(OPK:NYSE, US)

BuySell

9.06USDIncrease0.12(1.34%)Volume:

Below Average
As of market close 25 Feb 2014.

Quote Details

Open 8.92 P/E Ratio (TTM)
Last Bid/Size 8.96 / 10 EPS (TTM) -0.29
Last Ask/Size 9.10 / 5 Next Earnings 17 Mar 2014
Previous Close 8.94 Beta 0.85
Volume 2,861,359 Last Dividend
Average Volume 3,354,194 Dividend Yield 0.00%
Day High 9.15 Ex-Dividend Date
Day Low 8.84 Shares Outstanding 408.0M
52 Week High 12.95 # of Floating Shares 216.217M
52 Week Low 6.14 Short Interest as % of Float 21.13%
chart
Jack a. Bass Managed Accounts – Performance Based Fees – to obtain your portfolio profits email Jack at 604-858-3202 or call Jack direct at 604 -858 -3202 ( same time zone as Los Angeles)
On Feb 18 ( one week ago ) we highlighted GT Advanced Technologies – then at  $ 11.80
GT Advanced Technologies Inc(GTAT:NASDAQ, US)

BuySell
13.86USDDecrease0.28(-1.98%)Volume:
Above Average
As of market close 25 Feb 2014.

Quote Details

Open 14.46 P/E Ratio (TTM)
Last Bid/Size 13.75 / 3 EPS (TTM) -1.71
Last Ask/Size 13.89 / 50 Next Earnings 28 Apr 2014
Previous Close 14.14 Beta 1.88
Volume 11,364,056 Last Dividend
Average Volume 9,444,935 Dividend Yield 0.00%
Day High 14.52 Ex-Dividend Date
Day Low 13.71 Shares Outstanding 134.2M
52 Week High 14.52 # of Floating Shares 133.8332M
52 Week Low 2.61 Short Interest as % of Float 22.93%

Trading Alert : OPKO Health Moving – Short Positions Squeeezzzed

Our Health sector leading position has been gaining this week and now looks to threaten the 20 % short position.

Dr. Phillip Frost the billionaire investor must be enjoying this – as ne has been a buyer right up to this week .

Jack A. Bass Managed Accounts will have an extra coffee after the market closes.

Contact us at info@jackbassteam.com

OPKO Health Inc(OPK:NYSE, US)

Buy

9.08USDIncrease0.37(4.25%)Volume:

Above Average
As of 21 Feb 2014 at 10:05 AM EST.

Quote Details

Open 8.91 P/E Ratio (TTM)
Last Bid/Size 9.06 / 5 EPS (TTM) -0.29
Last Ask/Size 9.08 / 23 Next Earnings 17 Mar 2014
Previous Close 8.71 Beta 0.84
Volume 955,205 Last Dividend
Average Volume 3,022,949 Dividend Yield 0.00%
Day High 9.10 Ex-Dividend Date
Day Low 8.83 Shares Outstanding 408.0M
52 Week High 12.95 # of Floating Shares 216.217M
52 Week Low 6.14 Short Interest as % of Float 21.13

Biogen Update Target Price $ 355

BIIB : NASDAQ : US$303.60
BUY 
Target: US$355.00

COMPANY DESCRIPTION:
Biogen Idec is a biotechnology company that discovers,
develops, manufactures and markets therapies including
the currently marketed Tecfidera, Avonex, Tysabri, and
Fampyra for multiple sclerosis; Fumaderm for psoriasis;
and Rituxan (partnered with Roche) for multiple
indications including RA and NHL. Late-stage pipeline
products include Eloctate and Alprolix for hemophilia A
and B.
All amounts in US$ unless otherwise noted.

Life Sciences — Biotechnology
ADDING SMA TO VALUATION AHEAD OF
EXPECTED NEW SMNRX DATA AS WE EXPECT IT WILL BE STRONG; RAISING PT TO $355
Investment recommendation
Reiterate BUY; raising PT to $355. Tecfidera’s WW promise is materializing
as we look forward to continued US sales growth and a near-term EU
launch. We see continued Avonex and Tysabri long-term value and major
potential in BIIB’s hemophilia franchise with a near-term approval and
launch expected. We are raising our company DCF-based target from $291
to $355 based on the additional of potential SMNRx sales.
Investment highlights
 We see SMNRx/SMA as a major value opportunity for BIIB with $2+B
potential peak sales with potential 2017 approval. Although BIIB has
not yet opted into the ISIS SMA program, we see data as compelling,
with a healthy probability of success and strong chance BIIB will opt-in.
 Significant investor focus on SMA opportunity as ISIS-SMNRx multi-dose
data approaches. We think the 5.75 Hammersmith pt gain seen in the
9mg cohort at 9 mos suggests SMNRx is active. We would expect a >4 pt
increase in the multi-dose data this Q. Given the open-label nature of
the trial, we think the data will be positive but it is unclear if 9mg will
be the optimal dose given ISIS/BIIB added a 12mg dose.
 We like the SMNRx dose-response trend; view Hammersmith scale as
reliable for SMA drug development. While CMAP (compound muscle
action potential) was stable (-0.38 mV) and MUNE (motor unit number
estimation) increased (+14.09) in the 9 mg group at day 85 vs. baseline,
we see these data as preliminary and less functionally relevant.
 We expect positive data from Ph1b/2 SMNRx multi-dose trial in Q1/14
ahead of pivotal type 1& 2/3 trials. Given the new 12mg arm in the
ongoing Ph1b/2 trial, we expect there to be 2 doses of >9mg in the
Ph2/3 study in the first 6 mos with follow-up dosing every 6-9 mos. ISIS
noted stopping decline in a pivotal trial could be sufficient for
registration, but we think this may only apply to >1 yr trials. Proprietary
assays that measure SMN1 vs. SMN2 may help elucidate SMNRx
molecular effect.

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