snowball82 Posted July 15, 2020 Share Posted July 15, 2020 https://www.globenewswire.com/news-release/2020/07/15/2062466/0/en/Knight-Therapeutics-Announces-the-Launch-of-the-Tender-Offer-for-remaining-48-8-of-Grupo-Biotoscana.html I own an « elephant position » Link to comment Share on other sites More sharing options...
snowball82 Posted August 4, 2020 Share Posted August 4, 2020 https://www.businesswire.com/news/home/20200804005417/en/Antibe-Therapeutics-Corporate-Update Link to comment Share on other sites More sharing options...
snowball82 Posted August 6, 2020 Share Posted August 6, 2020 Not directly about GUD but we can see that this partner is trying to get more attention in USA. https://www.proactiveinvestors.com/companies/amp/news/926029 Link to comment Share on other sites More sharing options...
snowball82 Posted August 6, 2020 Share Posted August 6, 2020 Q2 results before the GBT’s closing “In connection with the tender offer, the auction will take place on August 14, 2020. Settlement will be completed within 2 business days following the auction” https://www.globenewswire.com/news-release/2020/08/06/2074113/0/en/Notice-of-Knight-Therapeutics-Second-Quarter-2020-Results-Conference-Call.html Link to comment Share on other sites More sharing options...
snowball82 Posted August 13, 2020 Share Posted August 13, 2020 Q2 results out. GBT’s transformative transaction having huge impacts on results « adjusted » ($M!): « Revenues were $53,250, an increase of $50,046 or 1,562% over prior year. Interest income generated of $3,678 a decrease of $2,482 or 40% over prior year. Net income for the period was $15,512 a decrease of $3,444 or 18% over prior year. Adjusted earnings1 of $9,972 an increase of $5,408 or 119% over prior year. https://www.globenewswire.com/news-release/2020/08/13/2077814/0/en/Knight-Therapeutics-Reports-Second-Quarter-2020-Results.html Link to comment Share on other sites More sharing options...
valueinvestor Posted August 13, 2020 Share Posted August 13, 2020 I thought this would have a larger effect on the stock price? Isn't this a 7-8x earning stock? When including cash? On a cursory view, it looks like they'll earn 0.28 per share this year, where stock is $7 and cash is around $5 per share. I'm kind of salivating... ;D Link to comment Share on other sites More sharing options...
gary17 Posted August 13, 2020 Share Posted August 13, 2020 do they still have $5 cash when completing the transaction in Brazil ? Link to comment Share on other sites More sharing options...
snowball82 Posted August 14, 2020 Share Posted August 14, 2020 do they still have $5 cash when completing the transaction in Brazil ? Mr Gary, likely +/- $ 4 cash /EDIT and financial assets (loans, fund, stocks) share if they buy all the shares. Today is the auction day, we should have an update in coming days If you are interested, the transcript : https://seekingalpha.com/article/4368391-knight-therapeutics-inc-khtrf-ceo-jonathan-ross-goodman-on-q2-2020-results-earnings-call Link to comment Share on other sites More sharing options...
MarioP Posted August 14, 2020 Share Posted August 14, 2020 Snowball I don't know how you estimated the 4$ per share. My estimate is more 3$. Here is my calculation Cash, equivalent, etc at the end on Q2 : 566M $CDN (page 20 of Q2 report) Estimated price for GBT : 150m $CDN (600M RB) So cash after the acquisition : 410m $CDN Number of shares at the end of Q2 : 131M (page 33) So 410/131 = 3,13 My estimate for the earnings per share including 100% of GBT is 0,20$ per share So we are not at 7 or 8 PE but still under 20 which seems good value to me. Link to comment Share on other sites More sharing options...
snowball82 Posted August 14, 2020 Share Posted August 14, 2020 Snowball I don't know how you estimated the 4$ per share. My estimate is more 3$. Here is my calculation Cash, equivalent, etc at the end on Q2 : 566M $CDN (page 20 of Q2 report) Estimated price for GBT : 150m $CDN (600M RB) So cash after the acquisition : 410m $CDN Number of shares at the end of Q2 : 131M (page 33) So 410/131 = 3,13 My estimate for the earnings per share including 100% of GBT is 0,20$ per share So we are not at 7 or 8 PE but still under 20 which seems good value to me. I did the EDIT in my previous message to clarify, it includes more than cash. Thank you for the comment. BN forecasts .23 for 2020 and .33 for 2021. The stock doesn’t seem expensive to me if we look the cash available / investments and the .33 adj. earning forecast for next year. IMO Even if we use your cash number (6.75-3), a 11x p/e adjusted for next year isn’t expensive particularly because you don’t take the $ 130 M invested in funds in the calculation. So we should do a sum of the parts. Link to comment Share on other sites More sharing options...
valueinvestor Posted August 14, 2020 Share Posted August 14, 2020 Hah - sorry for the confusion. Just did the numbers off my head. However, this acquisition is $300M CAD? The way I look at it is knowing what little about Jonathan is he has a hurdle of 15% or more. Can be lower, as capital preservation is paramount to him. This acquisition in his head should net $30-$45M in free cash and he has plenty of cash left to do more. This is starting to look more about the Paladin that I missed completely before. Remember, he hits singles and doubles, builds a platform where it’s valued highly and make value accretive acquisitions. It takes time, but that’s what happened at Paladin. Link to comment Share on other sites More sharing options...
snowball82 Posted August 14, 2020 Share Posted August 14, 2020 Deal done, they are now the pan-American (ex-USA) specialty pharma leader https://www.globenewswire.com/news-release/2020/08/14/2078861/0/en/Knight-Therapeutics-Completes-the-Tender-Offer-for-Grupo-Biotoscana-And-Achieves-Over-95-Ownership.html Link to comment Share on other sites More sharing options...
snowball82 Posted August 23, 2020 Share Posted August 23, 2020 They got a notice of compliance information by Health Canada for Imvexxy (Joyesta). Interesting to see that Therapeutics MD got some sales traction in USA. They had 32 % growth year over year. Link to comment Share on other sites More sharing options...
no_free_lunch Posted August 23, 2020 Share Posted August 23, 2020 The biotoscana business seems lackluster. Am I missing something here, I see a business losing money at the moment. They will have to be aggressive in licensing new products. Hopefully he can leverage deals for NA into this new venture. Still holding but this one will require patience. Link to comment Share on other sites More sharing options...
snowball82 Posted August 24, 2020 Share Posted August 24, 2020 The biotoscana business seems lackluster. Am I missing something here, I see a business losing money at the moment. They will have to be aggressive in licensing new products. Hopefully he can leverage deals for NA into this new venture. Still holding but this one will require patience. I agree about the patience required!! You wrote they are losing money. Is it because you don’t like-believe the adjusted earning used by the company at Q2 ? As you know they said they got close to $ 10 M adjusted earning for Q2. Link to comment Share on other sites More sharing options...
snowball82 Posted August 25, 2020 Share Posted August 25, 2020 Knight and TherapeuticsMD Announce Health Canada Approval of IMVEXXY® https://www.globenewswire.com/news-release/2020/08/25/2083144/0/en/Knight-and-TherapeuticsMD-Announce-Health-Canada-Approval-of-IMVEXXY.html Link to comment Share on other sites More sharing options...
snowball82 Posted August 26, 2020 Share Posted August 26, 2020 Grupo Biotoscana’s BDR will no longer be traded at B3 from next Friday onwards. Link to comment Share on other sites More sharing options...
snowball82 Posted August 31, 2020 Share Posted August 31, 2020 Someone knows the numbers supporting the new price target by Raymond James ? https://www.watchlistnews.com/fy2021-eps-estimates-for-knight-therapeutics-inc-raised-by-raymond-james-tsegud/4581044.html Link to comment Share on other sites More sharing options...
snowball82 Posted September 2, 2020 Share Posted September 2, 2020 Who is the funds with quartile 1 return now owning more than 10 % ? Surprise « The Fund held 13,644,000 common shares of Knight at the end of August, representing approximately 10.42% of all outstanding common shares » Link to comment Share on other sites More sharing options...
snowball82 Posted September 3, 2020 Share Posted September 3, 2020 https://www.globenewswire.com/news-release/2020/09/03/2088839/0/en/Knight-Therapeutics-Announces-Filling-of-Supplement-to-a-New-Drug-Submission-for-NERLYNX-neratinib-to-Treat-HER2-Positive-Metastatic-Breast-Cancer.html Link to comment Share on other sites More sharing options...
snowball82 Posted September 21, 2020 Share Posted September 21, 2020 Another product to be marketed soon https://www.businesswire.com/news/home/20200921005824/en/Knight-and-TherapeuticsMD-Announce-Health-Canada-Approval-of-BIJUVA%C2%AE Link to comment Share on other sites More sharing options...
Xerxes Posted September 22, 2020 Share Posted September 22, 2020 Who is the funds with quartile 1 return now owning more than 10 % ? Surprise « The Fund held 13,644,000 common shares of Knight at the end of August, representing approximately 10.42% of all outstanding common shares » Snowball For the uninitiated, can you tell us who ? Link to comment Share on other sites More sharing options...
snowball82 Posted September 22, 2020 Share Posted September 22, 2020 Who is the funds with quartile 1 return now owning more than 10 % ? Surprise « The Fund held 13,644,000 common shares of Knight at the end of August, representing approximately 10.42% of all outstanding common shares » Snowball For the uninitiated, can you tell us who ? Resolute funds Link to comment Share on other sites More sharing options...
snowball82 Posted September 24, 2020 Share Posted September 24, 2020 Globe says Knight Therapeutics down but not out 2020-09-22 08:36 ET - In the News The Globe and Mail reports in its Tuesday edition that trading patterns in the run-up toward a vaccine suggest that value stocks (such as those in health care), which have lower growth and tend to be ignored by investors, could perform better. The Globe's David Berman writes that Goldman Sach's analyst David Kostin says, "Many of today's value stocks have faced particularly acute challenges from COVID-19 and will experience the sharpest rebounds in earnings expectations once investors have confidence in the path to normalization." Knight Therapeutics, the Montreal-based pharmaceutical firm, recently completed its acquisition of Brazil's Biotoscana Investments SA -- but COVID-19 stands as a potential obstacle to integration, says McElvaine Investment Management president Tim McElvaine. The stock is down 22 per cent year to date. Mr. McElvaine adds, "So in an environment where COVID is less of a threat, I think that would be helpful to their business." His firm holds a position in Knight. The problem with any value investing strategy, unfortunately, is that value stocks have been lagging the performance of growth stocks for years, frustrating investors who have turned to cheap stocks, notes Mr. Berman. Link to comment Share on other sites More sharing options...
snowball82 Posted October 3, 2020 Share Posted October 3, 2020 About GBT’s acquisition https://api.mziq.com/mzfilemanager/v2/d/f78739c6-0e47-4145-8a2e-947b5835a922/cb6a6d34-1a93-5c77-9ebc-8d1e55bd2757?origin=1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now