giofranchi Posted April 9, 2015 Share Posted April 9, 2015 I don't think it is reasonable to expect Mr. Goodman to be the same as before I don’t know… Surely, he won’t be the same person anymore… But in business you don’t need a very high IQ, nor a prodigious memory, nor flashes of dazzling brilliance, right? Instead, you need emotional stability, you need the ability to think and to plan for the long term, therefore you need patience, you need to be flexible, to not be sleeping at the wheel and to constantly adjust to how circumstances evolve. And, of course, you need to have a very well thought out plan and to be in the right industry!... I am not sure how those things could be affected by an accident, even a terrible accident like the one Mr. Cooperman has suffered… You also need a certain dose of humility… And I would say surviving a serious accident might even improve some people on this topic: to touch first-hand the precariousness of life might serve as a constant reminder of how much prudence is always warranted in everything that we attempt doing. So, maybe (just maybe!) Mr. Goodman has lost some abilities, while also gaining others… :) Gio Link to comment Share on other sites More sharing options...
giofranchi Posted April 9, 2015 Share Posted April 9, 2015 And don’t forget he engineered the sale of Paladin to Endo after he recovered from his accident! ;) Cheers, Gio Link to comment Share on other sites More sharing options...
snowball82 Posted April 9, 2015 Share Posted April 9, 2015 And don’t forget he engineered the sale of Paladin to Endo after he recovered from his accident! ;) Cheers, Gio Yes and he closed a very good deal :) Link to comment Share on other sites More sharing options...
snowball82 Posted April 9, 2015 Share Posted April 9, 2015 From the March 2015 Presentation: $417 million in cash and equivalents and marketable securities. + Impavido: $500k expected revenue, at a multiple of 5x it would be worth $2.5 million. + PHOTOFRIN: Upfront payments include $32.7 million cash consideration and $5M of CHI’s common shares. Total: $37.7 million. + ATryn: I don’t know how to put a value on this one, therefore let’s say it is a zero. + NeurAxon: $1.75 million. + CRH Medical: USD $30 million (a loan that bears interest at 10%). + Apicore: USD $6.5 million (a loan that bears interest at 12%). + Synergy Strips: USD $6 million (a loan that bears interest at 15%). + Origin Biomed Inc.: $0.85 million (a loan that bears interest at 15%). TOTAL ASSETS: $502.3 million. Debt is zero, I think… At least it was not even mentioned in the presentation. MARKET CAP: $772 million. If my valuation is right, GUD today is selling for 1.54 x NAV. With lots of dry powder to use should the right opportunity come their way. And a proven management. Am I missing something? Thank you, Gio Thanks Gio for the list, you could also add some $ for CRH warrants. So about the Pediapharm deal it was a small one. The + $ 400 M question now is what is the return than a guy like Goodman will generate. Based on Paladin lab story (+ 19 years)... A + 20 % / year is possible on part of it. Time will tell. Link to comment Share on other sites More sharing options...
muscleman Posted April 10, 2015 Share Posted April 10, 2015 Any US investors here? My major concern is whether this is a PFIC for US investors. They have more than 50% assets in cash. Link to comment Share on other sites More sharing options...
muscleman Posted May 19, 2015 Share Posted May 19, 2015 Are you guys all outside of US? I find it rather annoying that GUD might be a PFIC for US investors and that would really suck. :( Link to comment Share on other sites More sharing options...
hillfronter83 Posted June 1, 2015 Share Posted June 1, 2015 From the March 2015 Presentation: $417 million in cash and equivalents and marketable securities. + Impavido: $500k expected revenue, at a multiple of 5x it would be worth $2.5 million. + PHOTOFRIN: Upfront payments include $32.7 million cash consideration and $5M of CHI’s common shares. Total: $37.7 million. + ATryn: I don’t know how to put a value on this one, therefore let’s say it is a zero. + NeurAxon: $1.75 million. + CRH Medical: USD $30 million (a loan that bears interest at 10%). + Apicore: USD $6.5 million (a loan that bears interest at 12%). + Synergy Strips: USD $6 million (a loan that bears interest at 15%). + Origin Biomed Inc.: $0.85 million (a loan that bears interest at 15%). TOTAL ASSETS: $502.3 million. Debt is zero, I think… At least it was not even mentioned in the presentation. MARKET CAP: $772 million. If my valuation is right, GUD today is selling for 1.54 x NAV. With lots of dry powder to use should the right opportunity come their way. And a proven management. Am I missing something? Thank you, Gio Thanks Gio for the list, you could also add some $ for CRH warrants. So about the Pediapharm deal it was a small one. The + $ 400 M question now is what is the return than a guy like Goodman will generate. Based on Paladin lab story (+ 19 years)... A + 20 % / year is possible on part of it. Time will tell. Gio, Why did you exclude the investments in various venture capital funds in your book value calculation? The cost was over $110 million. If you include these, the p/b is less than 1 with recent price drop. Link to comment Share on other sites More sharing options...
gary17 Posted September 1, 2015 Share Posted September 1, 2015 New partnership announced http://finance.yahoo.com/news/gud-medison-taken-knight-210000342.html Of significant interest: To solidify the partnership, upon the closing of the transaction, each company will become a significant shareholder of the other. Specifically, Knight will hold a 28.3-per-cent equity interest in Medison valued at $80-million ($60-million (U.S.)) in exchange for approximately a 10-per-cent equity interest in Knight (10.33 million common shares of Knight to be held by Medison and its controlling shareholder). So does this mean Knight is valued at $800M CAD based on this transaction ? Link to comment Share on other sites More sharing options...
no_free_lunch Posted September 1, 2015 Share Posted September 1, 2015 It is a good catch Gary. Medison doesn't seem to publicly traded so the value of the stake needs to be taken with just a bit of skepticism. Link to comment Share on other sites More sharing options...
snowball82 Posted November 2, 2015 Share Posted November 2, 2015 Good news. Should help to pay the rent. November 2, 2015 – Knight Therapeutics Inc. (TSX: GUD), through one of its wholly-owned subsidiaries (“Knight”), announced today that a dividend to Knight in the amount of NIS 5.66 million [C$1.9 million] has been approved by the Board of Directors of Medison (1995) Ltd. (“Medison”) The dividend relates to Knight’s 28.3% equity interest in Medison. Historically, Medison has declared dividends on a semi-annual basis. “We are pleased with our strategic collaboration with Medison. We hope to report both financial and strategic dividends from this partnership for years to come,” said Jonathan Ross Goodman, Director of Knight. Link to comment Share on other sites More sharing options...
gary17 Posted November 2, 2015 Share Posted November 2, 2015 I was actually a bit surprised by this news ! I wasn't expecting them to receive dividends - it wasn't in the News Release when they invested in Medison. Hopefully will help shareholders pay the rent in the future.... :)) Link to comment Share on other sites More sharing options...
netnet Posted November 2, 2015 Share Posted November 2, 2015 Gio, Is this on your watch list or did you take the plunge? -netnet Link to comment Share on other sites More sharing options...
snowball82 Posted November 3, 2015 Share Posted November 3, 2015 I was actually a bit surprised by this news ! I wasn't expecting them to receive dividends - it wasn't in the News Release when they invested in Medison. Hopefully will help shareholders pay the rent in the future.... :)) So about the rent for shareholders...you probably know I have hight expectations also to get good return from AKR.v :) but If we want to dream about what could become GUD over long term we can read another annual report : http://www.paladinlabs.com/pdf_files/PaladinAR_2012En.pdf PS we should change the gud.v, the company is now listed on TSE. Link to comment Share on other sites More sharing options...
snowball82 Posted November 7, 2016 Share Posted November 7, 2016 Rumors about a possible sale of Paladin labs. http://www.cnbc.com/2016/11/04/reuters-america-exclusive-endo-intl-considers-sale-of-paladin-labs-to-knight-therapeutics-sources.html Link to comment Share on other sites More sharing options...
snowball82 Posted December 5, 2016 Share Posted December 5, 2016 Pure speculation for now. Knight Therapeutics eyes assets from debt-strapped Valeant, Endo http://www.theglobeandmail.com/report-on-business/knight-therapeutics-eyes-assets-from-debt-strapped-valeant-endo/article33201741/ Link to comment Share on other sites More sharing options...
buylowersellhigh Posted December 5, 2016 Share Posted December 5, 2016 Pure speculation for now. Knight Therapeutics eyes assets from debt-strapped Valeant, Endo http://www.theglobeandmail.com/report-on-business/knight-therapeutics-eyes-assets-from-debt-strapped-valeant-endo/article33201741/ Any new info in the article? Can't view it. Link to comment Share on other sites More sharing options...
snowball82 Posted December 5, 2016 Share Posted December 5, 2016 Thanks to Ismile : http://license.icopyright.net/user/viewFreeUse.act?fuid=MjQyNDc5NTU%3D Link to comment Share on other sites More sharing options...
Toddalphatree Posted December 6, 2016 Share Posted December 6, 2016 Goodman is one of my favorite 'outsider' CEO's out there now. Bought some after the Paladin sale when it was trading at less than the value of the PRV, with a free option on Goodman's capital allocation. Excited to watch him compound this name over the next few years Link to comment Share on other sites More sharing options...
LesPaul Posted December 6, 2016 Share Posted December 6, 2016 http://ca.investing.com/news/stock-market-news/brief-knight-therapeutics-announces-increase-to-bought-deal-financing-106959 Little more fuel for speculation. Link to comment Share on other sites More sharing options...
snowball82 Posted December 7, 2016 Share Posted December 7, 2016 http://ca.investing.com/news/stock-market-news/brief-knight-therapeutics-announces-increase-to-bought-deal-financing-106959 Little more fuel for speculation. They increased again at $ 100 M. Probably a plan to deploy cash outside Canada too (see p.23)2016-11-Knight-Corporate-Presentation-November-2016.pdf Link to comment Share on other sites More sharing options...
snowball82 Posted December 8, 2016 Share Posted December 8, 2016 Goodman is one of my favorite 'outsider' CEO's out there now. Bought some after the Paladin sale when it was trading at less than the value of the PRV, with a free option on Goodman's capital allocation. Excited to watch him compound this name over the next few years Todd, maybe some discussions soon with Endo about Paladin, maybe not. "We are continuing our product-by-product portfolio assessment and the development of our full corporate strategy, which we plan to discuss in greater detail when we provide our fourth quarter and full-year 2016 results in February, 2017," added Mr. Campanelli. http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aENDP-2429210&symbol=ENDP®ion=C Link to comment Share on other sites More sharing options...
snowball82 Posted December 15, 2016 Share Posted December 15, 2016 The company said in the CCall it is a $ 3-5 M sales potential at peak. 2016-12-15 08:15 ET - News Release Mr. Jeffrey Kadanoff reports KNIGHT THERAPEUTICS ANNOUNCES EXCLUSIVE LICENSE AGREEMENT WITH ASTRAZENECA FOR MOVANTIK/MOVENTIG IN CANADA AND ISRAEL Knight Therapeutics Inc. has signed an exclusive licence agreement with AstraZeneca for the rights to Movantik (naloxegol) in Canada and Israel. The financial terms of the agreement were not disclosed. Movantik, the first once-daily oral peripherally acting mu-opioid receptor antagonist (PAMORA) approved in Canada for the treatment of opioid-induced constipation (OIC) in adult patients with non-cancer pain who have had an inadequate response to laxative(s), was launched by AstraZeneca in October, 2015. Movantik is currently under regulatory review in Israel and, when approved, will be marketed under the name Moventig. According to the Canadian family physician practice guideline, it is estimated that at least 26 per cent of chronic opioid users suffer from OIC. Based on QuintilesIMS, Movantik sales in Canada were $372,000 for the 10-month period ending October, 2016. Under the terms of the exclusive licence agreement, Knight will be responsible for all commercial, regulatory and certain supply chain activities for Movantik in Canada and Israel. "We are pleased to partner with AstraZeneca and to continue their efforts at introducing Movantik to patients in Canada and Israel," said Jonathan Ross Goodman, chief executive officer of Knight. "Movantik is a unique product that addresses a clear unmet need and will be a great addition to our portfolio of products that treat conditions associated with the use of opioids, such as Probuphine." Link to comment Share on other sites More sharing options...
buylowersellhigh Posted December 15, 2016 Share Posted December 15, 2016 what conference call? I see a presentation on the agreement on their site, but no conference call. Link to comment Share on other sites More sharing options...
snowball82 Posted December 15, 2016 Share Posted December 15, 2016 In this press release http://www.gud-knight.com/en/knight-therapeutics-announces-exclusive-license-agreement-with-astrazeneca-for-movantik-moventig-in-canada-and-israel Link to comment Share on other sites More sharing options...
buylowersellhigh Posted December 15, 2016 Share Posted December 15, 2016 thanks. Link to comment Share on other sites More sharing options...
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