Shares of Pfizer Inc. (NYSE:PFE) ended Wednesday session in green amid volatile trading. The shares closed up +0.16 points or 0.47% at $33.99 with 14.31 million shares getting traded. Post opening the session at $33.85, the shares hit an intraday low of $33.69 and an intraday high of $34.00 and the price vacillated in this range throughout the day. The company has a market cap of $27.34 billion and the numbers of outstanding shares have been calculated to be 6.07 billion shares.
Pfizer Inc. (PFE) on September 28, 2016 announced the successful completion of its acquisition of Medivation, Inc.(MDVN). As of the tender offer expiration, 115,574,041 shares of Medivation common stock were validly tendered, representing approximately 69.1% of the shares outstanding and have been accepted for payment under the terms of the tender offer for $81.50 per share in cash, without interest, subject to any required withholding of taxes. In addition, notices of guaranteed delivery have been delivered for 17,659,861 shares of Medivation common stock, representing approximately 10.6% of the shares outstanding. Following its acceptance of the tendered shares, Pfizer completed its acquisition of Medivation through a second-step merger. Pfizer and its wholly-owned subsidiary accepted for payment and will promptly pay for all shares validly tendered and not validly withdrawn.
“Pfizer and Medivation are now one unified team combining research and resources to combat cancer. This acquisition represents a rare opportunity to expand our business offering with an attractive pipeline and with XTANDI, an important medicine for men with prostate cancer. We welcome our new Medivation colleagues to the team and look forward to continuing the successful partnership with Astellas for XTANDI,” said Albert Bourla, group president, Pfizer Innovative Health. “Given the breadth of Pfizer’s existing oncology portfolio and emerging immuno-oncology pipeline, Medivation’s assets will potentially benefit from many novel and productive combinations. Together, we are well positioned to becoming a leading oncology company, speeding cures and making accessible breakthrough medicines to patients – our number one priority.”
Shares of CTI BioPharma Corp (NASDAQ:CTIC) ended Wednesday session in green amid volatile trading. The shares closed up +0.001 points or 0.24% at $0.381 with 279,436.00 shares getting traded. Post opening the session at $0.39, the shares hit an intraday low of $0.37 and an intraday high of $0.39 and the price vacillated in this range throughout the day. The company has a market cap of $106.84 million and the numbers of outstanding shares have been calculated to be 282.72 million shares.
CTI BioPharma Corp (CTIC) announced that on September 20, 2016, the NASDAQ Listing Qualifications staff granted the Company an additional 180 calendar day period, or until March 20, 2017, to regain compliance with the Minimum Bid Price Rule. To do so, the bid price of the Company’s common stock must close at or above $1.00 per share for a minimum of 10 consecutive trading days prior to that date.