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Old 19-05-2009, 08:17 PM   #1
perchanski
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Default http://uk.finance.yahoo.com/q?s=VER.L

Hi All

Just looking around and saw that this companies shares went up 1636% today. http://uk.finance.yahoo.com/q?s=VER.L
I think they are a pharmaceutical company, but cant find out too much info on them. they may be supply the swine flu vaccine for the world, or it may be something completley different financial wise. If anyone has got an understanding of shares and this company please let me know. Just curious, and wish i had about a £100 worth last night though.
ta
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Old 19-05-2009, 08:38 PM   #2
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hmm can't find out why share price has jumped that far but there into cancer drugs and headache drugs and parkinsons diesese drugs looks custy on the outside,

they have a DR. Allen Baxter on there board of directors fwho spent 25yrs with the giant Glaxosmithclien

there websites here: http://www.vernalis.com/ver/

anyone have any idea why such a big jump?
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Old 19-05-2009, 08:40 PM   #3
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Only thing I can see is it closed yesterday at 3.97 and opened today at 71.

Something major happened overnight!

Most news about them appears to revolve around a connection with the French company Servier and a connection to cancer cures.
Looks to me like there is a little bit of insider trading or massive speculation going on

Quote:
Vernalis will be in focus this morning. Rumours circulated late yesterday that the biotech group, now run by two former executives from vaccine-maker Acambis, was trying to raise £20m
Quote:
Vernalis plc (LSE: VER), a development stage pharmaceutical company, revealed today (7 May) that it has signed a new three-year joint oncology collaboration with Servier, the French private pharmaceutical company, with the objective of discovering drugs for a new target.

The collaboration uses the company's proprietary fragment and structure-based drug discovery platform, pursuant to the terms, on this undisclosed cancer target.
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Old 19-05-2009, 08:41 PM   #4
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Vernalis became the latest takeover target in the biotechnology sector yesterday after it cut 60 per cent of its workforce, parted with its chief executive and put its American operations up for sale.
Vernalis also said that it had settled a $56 million (£28.8 million) loan from Endo Pharmaceuticals, its partner, and would dispose of Apokyn, its Parkinson's disease drug.
However, the refusal of the US Food and Drug Administration to license Frova, its painkiller, as a treatment for menstrual migraine meant that Vernalis missed out on about $40 million in payments from Endo, leaving its funding unclear.
Small, cash-hungry biotech companies have felt the squeeze of the credit crunch. Ardana, based in Scotland, said on Tuesday that it was seeking a sale or merger. Two weeks ago CeNeS Pharmaceuticals revealed that it had received a takeover approach. There have also been rumours that Oxford Biomedica will be bought by Sanofi-Aventis, its French partner.
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Vernalis, based in Barkshire, said that Simon Sturge, the chief executive, would step down at the end of the month and that it would reduce staff from 210 to 90 to focus on research and development. The company settled the loan with Endo by making a cash payment of $7 million and agreeing to forgo future royalties on Frova unless American sales exceeded $85 million.
Peter Fellner, the executive chairman, said: “The loan was very much at the front, middle and back of the market's mind. That's gone and we will end up with a cash life that is better than many other companies. It's true that it makes the company very much more attractive, but we're really not setting out to be bought; we're setting the company up for a long life.”
Vernalis said that the restructuring would leave it with enough cash for two years. Its shares closed up 1.03p at 8.35p, valuing the business at £27.4 million. “The strategic restructuring will enable the company to focus upon its innovative discovery programmes and progress its development programmes to the point at which they can be partnered,” Vernalis said in a statement. “The headcount reductions ... will be larger in corporate and other areas than in research and development, where it is planned to retain a critical mass that will ensure that Vernalis' ongoing programmes are effectively pursued and remain fully competitive.”
Analysts said that the restructuring paved the way for Vernalis to be bought. Sam Fazeli, senior research analyst at Piper Jaffray, said: “Looking at Vernalis, you now see a company where the CEO has left and where they've got rid of the Sword of Damocles hanging over their head by restructuring and giving themselves a long cash life. The company is very cheap and people aren't blind to that.
“There are also quite a lot of companies going into this downturn with sizeable cash balances, like Vectura, Protherics, Antisoma, BTG, Biocompatibles.”





21st Feb 08 Patric foster - Times online



http://business.timesonline.co.uk/to...cle3406179.ece
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Old 19-05-2009, 08:51 PM   #5
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(Adds executive and analyst comment, detail, share price.)
By Jason Douglas
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Biotechnology company Vernalis PLC (VER.LN) Wednesday said it proposes to raise GBP24 million to fund development of its experimental drugs, and possibly acquire struggling peers or their products.
Vernalis Chief Executive Ian Garland told Dow Jones Newswires the new capital will allow the Oxford-based firm to rebuild following its dramatic restructuring after its lead drug, migraine treatment Frova, failed to win U.S. Food and Drug Administration approval as a treatment for menstrual migraine in 2007.
The company said it plans to issue just under 800 million new shares at 3 pence a share, a 26% discount to Tuesday's 4.05 pence closing price, news which helped send its shares lower.
At 1049 GMT, shares in Vernalis were down 0.55 pence, or 14%, at 3.5 pence, underperforming a higher FTSE Fledgling index, up 0.45%.
Including GBP13.8 million Vernalis had on its books at the end of 2008, the placing will give the company a war chest of about GBP32 million, after expenses and other costs, which is enough to fund Vernalis to mid-2011, said Garland.
About 80% of the money will be invested primarily in three experimental drugs in the early stages of development: V3381 for neuropathic pain, V158866 for chronic pain and ChK1 for cancer.
Garland said having put itself on a firmer financial footing, Vernalis might now look to acquire other companies or license in drugs to fill out its pipeline. It has dropped development of an obesity treatment and is seeking partners for experimental treatments for Parkinson's disease and stroke.
Industry analysts have said consolidation could help the fragmented biotech sector overcome its funding woes, and Garland said he would like Vernalis to be involved in any such process. Still, he said the company's main focus will be developing its own drugs.
Wednesday's placing is fully underwritten by Piper Jaffray Cos. (PJC). Following the share offer, Vernalis said it plans a capital reorganization on the basis of one new share for every 20 held.
Robin Davison, an analyst at Edison Investment Research, said Vernalis's ability to raise such a sum in tough markets for small companies is testament to Garland's reputation. He joined the company in December, not long after he sold vaccine maker Acambis PLC to Sanofi-Aventis (SNY) for GBP280 million.
Also Wednesday, Vernalis reported a 2008 pretax profit of GBP2.6 million, compared with a loss of GBP31.6 million a year earlier, on revenue of GBP54.8 million, up from GBP19.8 million.
Earnings were boosted by Vernalis's restructuring, which included the settlement of a loan from former Frova partner Endo Pharmaceuticals Holdings Inc. (ENDP), and the sale of U.S. royalties for the drug.
Company Web site: www.vernalis.com
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Old 19-05-2009, 08:54 PM   #6
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The executive chairman of Vernalis is also on the board of directors of QinetiQ Group plc which is a privately owned Ministry of Defence spin-off company. It provides consultancy and support services for government defense and security organizations primarily in the UK and North America.

Quote:
Dr Fellner is also Chairman of the privately-held biotechnology company Astex Therapeutics Ltd, and is a director of UCB SA, QinetiQ Group plc, Evotec AG, Bespak plc, Acambis plc and Isis Innovation Ltd. He is also a member of the Medical Research Council.

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Old 19-05-2009, 10:11 PM   #7
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was he at bilderberg?
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Old 19-05-2009, 10:56 PM   #8
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Go to that link and take a look at the History page (link on the left menu). The average volume seems to be about 50,000 shares traded, and the average price stays around 4.00. But notice that on certain days the volume shoots up to in the millions and yet the price doesn't change. And then out of the blue the price shoots up to 70.00. Yeah, move along, nothing to see here.
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