In today’s briefing:
- Capitol Health (CAJ AU): Binding Merger with Integral Diagnostics (IDX AU)
- Capitol Health (CAJ AU)/Integral Diagnostics (IDX AU): An Improved Image – Now Firmed
- Liquid Universe of European Ordinary and Preferred Shares: July‘24 Report
- STAAR Surgical Takeover Speculation: 4 Reasons Why We Are Optimistic! – Major Drivers
- Evotec SE Potential Takeover: Does It Have What It Takes To Get Acquired? – Major Drivers
- Medicus Pharma Ltd. – Medicus Submits Updated Phase 2 Clinical Protocol
- TNXP: High Interest in Tonmya Seen in Initial Findings from Market Opportunity Analysis
Capitol Health (CAJ AU): Binding Merger with Integral Diagnostics (IDX AU)
- Capitol Health (CAJ AU) has entered a binding merger proposal with Integral Diagnostics (IDX AU) at 0.12849 Integral shares per Capitol share.
- The transaction will require approval from the ACCC and Capitol shareholders. Due to the minimal geographic overlap, ACCC clearance should be forthcoming.
- The offer is attractive compared to historical exchange ratios, trading ranges and peer multiples. At the last close, the gross spread was 8.0%.
Capitol Health (CAJ AU)/Integral Diagnostics (IDX AU): An Improved Image – Now Firmed
- Back on the 17th June, diagnostic imaging provider Capitol Health (CAJ AU) announced it had entered into a process deed with Integral Diagnostics (IDX AU). Terms are now firmed.
- IDX will issue 0.12849 new IDX shares for each Capitol share. Scrip terms are unchanged from that announced previously. Upon completing the transaction, Integral would hold 63% in the NewCo.
- Apart from ACCC signing off, this transaction looks priced to complete.
Liquid Universe of European Ordinary and Preferred Shares: July‘24 Report
- Since mid-June, share-price spreads have generally tightened across our European liquid universe of ordinary and preferred shares (13 have tightened, 5 widened, 1 remained at same level).
- Recommended trades long preferred / short ordinary shares: Atlas Copco, Grifols (see section on the company), Media-for-Europe, Sixt.
- Recommended trades long ordinary / short preferred shares: Henkel, SSAB Svenska Stal.
STAAR Surgical Takeover Speculation: 4 Reasons Why We Are Optimistic! – Major Drivers
- The first quarter of 2024 saw STAAR Surgical achieve a noteworthy result by generating net sales of $77.4 million, surpassing the expectations set for this period.
- This result underscores the effectiveness of STAAR Surgical’s refined commercial strategy and the high uptake of its proprietary EVO ICL technology across all key geographical regions.
- With a year-over-year increase represented by these figures, the company successfully navigated the challenges of a market predominantly inclined towards laser vision correction, where it successfully captured additional market share.
Evotec SE Potential Takeover: Does It Have What It Takes To Get Acquired? – Major Drivers
- In assessing Evotec SE’s Q1 2024 fiscal results and its potential for acquisition, a reflection on both financial metrics and strategic initiatives offers insight.
- Evotec SE, amidst a challenging market environment, reported a slight revenue decrease of 2% year-over-year, totaling EUR 208.8 million in Q1 2024.
- The company’s primary revenue contraction stemmed from its Shared R&D business, which saw a decline of 23% compared to the same quarter in the previous year.
Medicus Pharma Ltd. – Medicus Submits Updated Phase 2 Clinical Protocol
- Medicus Pharma Ltd. (TSXV:MDCX) is focused on acquiring or partnering with life-science companies that are developing novel therapeutics for unmet healthcare needs that are already in the clinical trial stage.
- Management plans fast-track these specific therapies through FDA clinical trials toward commercialization.
- The company’s first acquisition was SkinJect, which has a novel, patented transdermal patch for the treatment of BCC.
TNXP: High Interest in Tonmya Seen in Initial Findings from Market Opportunity Analysis
- On May 13, 2024, Tonix Pharmaceuticals Holding Corp. (TNXP) announced financial results for the first quarter of 2024 and provided a business update.
- Tonix will be filing a New Drug Application (NDA) for Tonyma (TNX-102 SL cyclobenzaprine HCl) for fibromyalgia in the second half of 2024 based on positive results from the Phase 3 RELIEF and RESILIENT trials.
- The company recently announced key findings from the initial phase of a market opportunity analysis for Tonmya by EVERSANA, including a high dissatisfaction rate with currently prescribed drugs for fibromyalgia patients, a high unmet need for effective therapies, and a high level of interest in Tonmya with an intended use of 40% among surveyed physicians.
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