In today’s briefing:
- Imugene (IMU AU): Promising Pipeline And Financial Muscle Power Are Biggest Strengths
- Virtus: BGH Bumps; CapVest’s Scheme Untenable
Imugene (IMU AU): Promising Pipeline And Financial Muscle Power Are Biggest Strengths
- Imugene Ltd (IMU AU) shares faced panic-selling after the announcement of termination of the company’s supply contract with Merck. However, the study will continue with alternative supply arrangement.
- Recently, Imugene published a letter to the shareholders describing the strength and near-term catalyst of the company, which provided some respite to the stock.
- Overall, Imugene, with a cash balance of A$109 million, is well-funded to advance its unique immune-oncology pipeline toward commercial success.
Virtus: BGH Bumps; CapVest’s Scheme Untenable
- With a little under two weeks until Virtus Health (VRT AU) shareholders vote on CapVest’s Offer, BGH bumps its off-market bid to $8.15/share, matching CapVest’s Scheme terms.
- BGH added it now holds 22.38% and will vote against CapVest’s Offer. Virtus has encouraged CapVest to respond today about whether they will increase terms.
- With CapVest’s Scheme all-but blocked, BGH’s revised $8.15/share Offer is now the highest offer for Virtus.
Before it’s here, it’s on Smartkarma
