BioCentury
ARTICLE | Financial News

Optimer jumps on rumors of a take out

April 3, 2013 12:38 AM UTC

Optimer Pharmaceuticals Inc. (NASDAQ:OPTR) jumped $2.24 (19%) to $13.91 on Tuesday after media reports surfaced that at least four companies have expressed interest in acquiring the biotech. The companies rumored to be interested include GlaxoSmithKline plc (LSE:GSK; NYSE:GSK), Astellas Pharma Inc. (Tokyo:4503), Cubist Pharmaceuticals Inc. (NASDAQ:CBST) and AstraZeneca plc (LSE:AZN; NYSE:AZN). Optimer, GSK, Astellas and Cubist declined to comment, while AstraZeneca could not be reached.

Optimer co-promotes Dificid fidaxomicin with Cubist in the U.S. to treat Clostridium difficile-associated diarrhea (CDAD). In a March SEC filing, Optimer said that it does not anticipate renewing the co-promotion deal, which is slated to expire July 31. Fidaxomicin is also approved as Dificlir to treat CDAD in the EU. At Dec. 31, 2012, Optimer had $124 million in cash and a full-year operating loss of $90.8 million. ...