Silicon Investor - Micromet Inc (MITI)

[Arthur Radley] The Delaware judge denied the motion for any delay------$11.00 is the price!

Arthur Radley — 3/1/2012 4:05:08 PM

[Arthur Radley] I think it's a little late for such action--if I remember the details, Amgen has...

Arthur Radley — 2/28/2012 7:49:54 PM

I think it's a little late for such action--if I remember the details, Amgen has already purchased at least 50% of the shares on the open market. My daughter is holding out for the full $11.00, but I've already sold my position.

[dr.praveen] finance.yahoo.com Judge asked to delay Amgen acquisition of MicrometMicromet sh...

dr.praveen — 2/28/2012 4:43:28 PM

finance.yahoo.com

Judge asked to delay Amgen acquisition of MicrometMicromet shareholders ask Delaware judge to delay acquisition by AmgenDOVER, Del. (AP) -- Shareholders of Micromet Inc. are asking a Delaware judge to delay the company's acquisition by Amgen Inc., the world's largest biotech company.

Amgen has offered $11 per share for Micromet, a Maryland-based developer of cancer therapies, in a deal valued at more than $1 billion.

But some Micromet shareholders are challenging the acquisition, alleging that Micromet's board rushed it through and did not adequately explore whether it could get a competing offer at a better price.

Attorneys for Micromet and Amgen argued at a court hearing Monday that Micromet reached out to several other companies, but none expressed interest in making a bid.

The judge heard more than two hours of arguments but did not immediately issue a ruling. A tender offer for Micromet shareholders expires at midnight Thursday.

[scaram(o)uche] My reply sounded weird, and was meant to be praise for contributions by you, Pet...

scaram(o)uche — 1/26/2012 11:47:53 PM

My reply sounded weird, and was meant to be praise for contributions by you, Peter, PB and others.

Good to hear that you did a $1 ----> $11. I once held it for about five minutes.

:-(

Best! Rick

[Arthur Radley] Thanks for the kind words! Funny how I first learned of the deal this morning. ...

Arthur Radley — 1/26/2012 9:11:25 PM

Thanks for the kind words!
Funny how I first learned of the deal this morning. I had just awoke and in my semi-groggy state, I clicked on my TV to CNBC for the pre-market indications. I saw the scroll across the bottom on the screen that Amgen had agreed to buy out another company. In my fully unawakened state as I laid there in bed, I thought---"Why and how could Amgen being buying out Microsoft?" I started to roll back over for a few more minutes of rest before getting up for a quick shower and heading out to meet my golf buddy for a round of golf. It was then it dawned on me--it was Micromet! By then I didn't need the cold shower to wake me up!

In my glee of my good fortune, I ended up buying my buddy breakfast, paid for his golf round and then proceeded to have the worst round of golf in my life.

At first I was upset with the $11.00 price tag, but then when I combined the gains in the three accounts that held MITI, the long hold, and the 80% gain, wasn't bad.

[scaram(o)uche] I certainly remember Peter pointing at the half-life issue, and that PB chipped ...

scaram(o)uche — 1/26/2012 1:29:29 PM

I certainly remember Peter pointing at the half-life issue, and that PB chipped in with valuable commentary on same issue. And I offered kudos for their choice of both target and trigger mabs.

Congrats to all who held the sucker, then!

:-)

(but Cary is still THE man)

[dr.praveen] congrats to cary and peter...Peter is a silent admirer of Miti:-) PS: Is anyone...

dr.praveen — 1/26/2012 11:29:33 AM

congrats to cary and peter...Peter is a silent admirer of Miti:-)

PS: Is anyone holding out for any last min miracles?

[scaram(o)uche] Congrats, Cary! You are THE man........

scaram(o)uche — 1/26/2012 11:01:41 AM

[dr.praveen] same here. I have been holding MITI since 1$ from cnvx days. I am happy but stil...

dr.praveen — 1/26/2012 10:18:30 AM

same here. I have been holding MITI since 1$ from cnvx days. I am happy but still can't get over the 11$ amgn is paying.

Edit: time to find a new ab co:-)

[mopgcw] well played. as an amgn owner, we overpaid at $11... ;) edit: interesting they...

mopgcw — 1/26/2012 9:30:16 AM

well played. as an amgn owner, we overpaid at $11... ;)

edit: interesting they paid cash and not stock...

[Arthur Radley] Has been a long and lonely ride--I love AMGN, but wish they had loved us for abo...

Arthur Radley — 1/26/2012 8:30:45 AM

Has been a long and lonely ride--I love AMGN, but wish they had loved us for about $15, instead of $11.

[Arthur Radley] This (NIH) funding is a nice cushion for their cash burn as normally these proje...

Arthur Radley — 1/9/2012 9:50:19 AM

This (NIH) funding is a nice cushion for their cash burn as normally these projects involve millions of dollars injected into the research. What I would like to see is that the FDA might green light this drug without the normal Phase III final results.

Also, Think Equity raised their target price up to $9.00 this morning.

Storming in my neck of the woods this morning--also nearly pitch dark still at 9:30.

[pgo-neil] MITI signs CRADA with NCI for expanded Blinatumomab trials. No specifics on fun...

pgo-neil — 1/9/2012 8:30:33 AM

MITI signs CRADA with NCI for expanded Blinatumomab trials. No specifics on funding, but NCI might be picking up 40% of the trial cost. This would give MITI another 2 quarters of life... They are just over 2 years of cash today.

Best,
graham
--

phx.corporate-ir.net

ROCKVILLE, Md.--(BUSINESS WIRE)--Jan. 9, 2012-- Micromet (Nasdaq: MITI) announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) to expand development of the Company’s lead product candidate blinatumomab in patients with acute lymphoblastic leukemia (ALL) and various sub-types of lymphoma. Blinatumomab is the first of a new class of agents called BiTE® antibodies, designed to harness the body's T cells to kill cancer cells.

Under the terms of the agreement, the NCI and Micromet will collaborate on a series of clinical trials to evaluate the safety and efficacy of blinatumomab in patients with B-cell derived hematologic malignancies. The initial NCI-sponsored studies will explore blinatumomab’s utility as a first-line treatment for patients newly diagnosed with ALL, older patients with ALL, and patients with Waldenstrom’s macroglobulinemia. Additional studies will be designed based on the agreement of both parties.

“We are very pleased that the NCI has chosen to support the clinical development of blinatumomab,” said Jan Fagerberg, M.D., Ph.D., Micromet’s Senior Vice President and Chief Medical Officer. “This partnership will enable us to further explore blinatumomab’s clinical potential across a wide range of blood cancers and will expand leading U.S. investigators’ experience with the drug."

[Arthur Radley] We had the near 500 point move in the Dow this week, but even with some backing ...

Arthur Radley — 12/2/2011 12:12:31 PM

We had the near 500 point move in the Dow this week, but even with some backing and filling of this move, MITI has moved up by more than 50% from the closing price last Friday. IMO, all of this can't be attributed to the Dow movement, but rather the data that 'could' be coming out at the San Diego ASH conference next week. We are still down about $1.50 from the yearly high, but finally we are moving in relation to data and potential, IMO.

[Arthur Radley] finance.yahoo.com Three month chart for MITI--nice double bounce off low price ...

Arthur Radley — 10/25/2011 12:02:23 PM

finance.yahoo.com

Three month chart for MITI--nice double bounce off low price and now moving smartly above the three month previous high.