Shares of Horizon Pharma PLC (NASDAQ:HZNP) ended Monday session in green amid volatile trading. The shares closed up +1.63 points or 9.44% at $18.89 with 5.44 million shares getting traded. Post opening the session at $17.20, the shares hit an intraday low of $17.13 and an intraday high of $19.05 and the price vacillated in this range throughout the day. The company has a market cap of $2.78 billion and the numbers of outstanding shares have been calculated to be 160.90 million shares.
On Sept. 12, 2016 Horizon Pharma plc (HZNP) and Raptor Pharmaceutical Corp. (RPTP) announced the companies have entered into a definitive agreement under which Horizon Pharma will acquire all of the issued and outstanding shares of Raptor Pharmaceutical Corp. common stock for $9.00 per share in cash, for an implied fully diluted equity value of approximately $800 million. The transaction is expected to close in the fourth quarter of 2016.
“The proposed acquisition of Raptor furthers our commitment to helping people with rare diseases and is a significant step in advancing our strategy to expand our rare disease business,” said Timothy P. Walbert, chairman, president and chief executive officer, Horizon Pharma plc. “Along with the potential for accelerated revenue growth, the addition of Raptor strengthens our U.S. orphan business and provides a platform to expand our orphan business in Europe and other key international markets. We look forward to working with new patient communities and building on the success of the Raptor team.”
Shares of Exelixis, Inc. (NASDAQ:EXEL) ended Monday session in green amid volatile trading. The shares closed up +0.42 points or 3.51% at $12.40 with 4.57 million shares getting traded. Post opening the session at $11.81, the shares hit an intraday low of $11.70 and an intraday high of $12.40 and the price vacillated in this range throughout the day. The company has a market cap of $2.77 billion and the numbers of outstanding shares have been calculated to be 230.33 million shares.
Exelixis Inc. (EXEL) on September 7, 2016 announced the outcome from the first planned interim analysis of CELESTIAL, a randomized global phase 3 trial of cabozantinib compared with placebo in patients with advanced hepatocellular carcinoma (HCC) who have been previously treated with sorafenib. Following this interim analysis, which was scheduled to take place when 50 percent of the events for the primary endpoint of overall survival (OS) had occurred, the trial’s Independent Data Monitoring Committee (IDMC) determined that the study should continue without modifications per the study protocol. The trial protocol calls for a second interim analysis to take place once 75 percent of events have been observed.
HCC is the most common form of liver cancer and the third-leading cause of cancer deaths worldwide. The disease originates in cells called hepatocytes, which make up the majority of the liver. Without treatment, patients with advanced disease usually survive less than 6 months. During 2003-2012, deaths in the U.S. from liver cancer increased at the highest rate of all cancer sites. In 2016 it is estimated that over 39,000 new cases and over 27,000 deaths occurred in the U.S. due to liver cancer. Across the U.S., EU5 (Italy, France, Germany, Spain, and United Kingdom), and Japan, it is estimated that approximately 117,000 new cases will be diagnosed in 2017. Liver cancer is a leading cause of cancer-related mortality worldwide, accounting for more than 700,000 deaths each year.