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CEMP

Cempra

$3.85

-0.025 (-0.65%)

08:57
08/09/17
08/09
08:57
08/09/17
08:57

Cempra subsidiary to merge with Melinta Therapeutics

Cempra and Melinta Therapeutics announced that the companies have entered into a definitive agreement under which Melinta will merge with a subsidiary of Cempra. The merger is expected to create a NASDAQ-listed company committed to discovering, developing and commercializing important anti-infective therapies for patients and physicians in areas of significant unmet need. "The combined company's extensive pipeline, including commercial, clinical and preclinical stage anti-infective programs with multiple products in development across several indications, provides an exceptional platform to deliver potential long-term growth and value for shareholders," said David Zaccardelli, Pharm.D., acting chief executive officer of Cempra. On a pro forma basis, and based upon the number of shares of Cempra common stock to be issued in the merger, current Cempra shareholders will own approximately 48 percent of the combined company and current Melinta shareholders will own approximately 52 percent of the combined company. The transaction has been approved by the board of directors of both companies. The merger is expected to close in the fourth quarter of 2017, subject to the approval of the stockholders of each company as well as other customary conditions. The combined company, which will be named Melinta Therapeutics, will bring together a deep bench of management talent from both companies. The board of directors of the combined company will have nine seats, with four appointed by Cempra and four appointed by Melinta, together with a newly appointed CEO. Cempra and Melinta will work together through a joint selection committee to identify the CEO leadership of the combined company, who will be able to build on strong experience and the shared vision of the board to continue growing one of the world's leading anti-infectives companies. Melinta will designate the Chairman of the combined company board.

  • 09

    Aug

CEMP Cempra
$3.85

-0.025 (-0.65%)

03/01/17
JANY
03/01/17
NO CHANGE
Target $5
JANY
Neutral
Cempra likely to trade below cash until FDA gives clarity, says Janney Capital
Janney Capital analyst Debjit Chattopadhyay said that until Cempra has clarity from the FDA on the "once promising" SoliThera, which is not expected until the third quarter of this year, that its shares are likely to trade below cash. He lowered his fair value estimate on Cempra shares to $5 from $8 based on the lack of regulatory and commercial visibility and keeps a Neutral rating on the name.
03/29/17
GABE
03/29/17
DOWNGRADE
GABE
Sell
Cempra downgraded to Sell from Hold at Gabelli
Gabelli analyst Kevin Kedra downgraded Cemptra to Sell with a price target of $3.75. The analyst said the company is exploring strategic options but expects valuation to diminish along with the company's balance sheet over time and sees little reason to own shares without a catalyst.
03/29/17
03/29/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dunkin' Brands (DNKN) downgraded to Sell from Neutral at Goldman with analyst Karen Holthouse saying with the stock trading at the high end of its valuation range, comp and unit growth risks in the U.S. present downside risk. 2. Darden (DRI) downgraded to Neutral from Buy at BTIG with analyst Peter Saleh saying he does not expect the acquisition to start meaningfully contributing to sales and restaurant profit growth until fiscal 2019/2020 and sees limited upside at current levels. 3. Cempra (CEMP) downgraded to Sell from Hold at Gabelli with analyst Kevin Kedra saying the company is exploring strategic options but expects valuation to diminish along with the company's balance sheet over time and sees little reason to own shares without a catalyst. 4. PPL Corp. (PPL) downgraded to Neutral from Buy at UBS. 5. Panera Bread (PNRA) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying he now sees the stock reflecting the positives of continued momentum from "Panera 2.0," opportunities for margin expansion, unit development, and share buybacks following its 25% year-to-date advance. He keeps a $260 price target on Panera shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/17
CANT
07/20/17
NO CHANGE
Target $50
CANT
Overweight
Paratek Pharmaceuticals recent selloff overdone, says Cantor
Cantor Fitzgerald analyst Louise Chen says the two day selloff in shares of Paratek Pharmaceuticals (PRTK) after "positive and competitive" data from the company's OASIS-2 trials is overdone. The issues experienced by Cempra's (CEMP) community antibiotic product are entirely product-specific and not a read-through to Paratek, Chen told investors last night in a research note. She believes Paratek will be able to market Omadacycline effectively if it is approved and keeps an Overweight rating on the shares with a $50 price target.

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  • 01

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GBL

GAMCO Investors

, WTS

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$72.65

0.15 (0.21%)

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  • 04

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CC

Chemours

$53.31

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  • 01

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AIMT

Aimmune

$35.74

0.16 (0.45%)

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PN

Patriot National

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CMCM

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$12.02

-0.4 (-3.22%)

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General Motors

$44.47

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EEM

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NEPT

Neptune Technologies

$1.18

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IWM

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$150.99

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$NSD

NASDAQ Market Internals

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