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CYNA

Cynapsus Therapeutics

$40.45

0.05 (0.12%)

16:04
10/13/16
10/13
16:04
10/13/16
16:04

Cynapsus holders approve plan of arrangement with Sunovion Pharmaceuticals

Cynapsus Therapeutics is pleased to announce that at its special meeting of shareholders and warrantholders held earlier today, Securityholders approved the special resolution authorizing the previously announced plan of arrangement with Sunovion Pharmaceuticals. Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding (i) common shares of Cynapsus for US$40.50 cash per common share and (ii) warrants of Cynapsus for US$40.50 cash per warrant minus the exercise price of each warrant. As announced on August 31, the transaction values Cynapsus at approximately US$624 million. The Special Resolution was approved by approximately 99.97% of the common shares and warrants, voting together as one class, voted in person or represented by proxy at the Meeting, as well as by a "majority of the minority" as required pursuant to Multilateral Instrument 61-101. The implementation of the Arrangement remains subject to the granting of the final order by the Ontario Superior Court of Justice, the receipt of required regulatory approvals and the satisfaction or waiver of other customary closing conditions. The application to the Ontario Superior Court of Justice to obtain the final order approving the Arrangement is scheduled for October 17, 2016. If court approval is obtained and the other conditions to the completion of the Arrangement are satisfied or waived, Cynapsus expects that the Arrangement will be completed on or about October 21, 2016.Beneficial Securityholders are not required to take any action in respect of the completion of the Arrangement. The cash to be paid to beneficial Securityholders following completion of the Arrangement is expected to be credited to the beneficial Securityholders' broker, trustee, financial institution, dealer, bank, trust company, custodian, nominee or other intermediary account through the procedures in place for such purposes between CDS and such intermediaries. Beneficial Securityholders should contact their intermediary if they have any questions regarding this process. In order for a registered Securityholder to receive the cash consideration for the common shares or warrants following completion of the Arrangement, he, she or it must complete, sign, date and return the letter of transmittal, in accordance with the instructions set out therein that was mailed to all registered Securityholders in connection with the Meeting.

  • 13

    Oct

CYNA Cynapsus Therapeutics
$40.45

0.05 (0.12%)

07/19/16
JANY
07/19/16
NO CHANGE
Target $24
JANY
Buy
Cynapsus Phase 3 DTP results bode well for study, says Janney Capital
Janney Capital analyst Ken Trbovich believes the open-label dose titration phase, or DTP, results reported by Cynapsus Therapeutics support his expectation that the Phase 3 trial will likely result in a clinically and statistically significant difference from placebo during the randomized portion of the study. The analyst keeps a Buy rating and $24 fair value estimate on Cynapsus shares.
07/20/16
BMOC
07/20/16
NO CHANGE
BMOC
Cynapsus Therapeutics price target raised to $25 from $21 at BMO Capital
BMO Capital increased its price target on Cynapsus citing its belief that the company's APL drug will be approved in Europe. The firm keeps an Outperform rating on the shares.
08/16/16
BMOC
08/16/16
NO CHANGE
BMOC
Cynapsus Therapeutics price target raised to $30 from $25 at BMO Capital
BMO Capital analyst Do Kim raised his price target on Cynapsus after the Data and Safety Monitoring Board, or DSMB, said that patients participating in a trial of the company's APL at-home titration product could use it at home. The analyst thinks that at-home titration appeals to doctors, and he says that the DSMB's recommendation highlights the superior safety and tolerability of the product versus injectable Apokyn. The analyst keeps an Outperform rating on Cynapsus.
09/01/16
JANY
09/01/16
DOWNGRADE
Target $40.5
JANY
Neutral
Cynapsus Therapeutics downgraded to Neutral from Buy at Janney Capital
Janney Capital analyst Ken Trbovich downgraded Cynapsus Therapeutics to Neutral citing the company's takeover by Sunovion Pharmaceuticals. The analyst has a $40.50 price target for the shares.

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