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Vanda Pharmaceuticals has turned down Cycle Pharmaceuticals’ second acquisition offer, which values the company at $8 per share. The offer, identical to a previous one, represents an 80% premium to Vanda’s last closing price, amid a recent decline in its stock following the FDA’s rejection of a stomach condition drug. Vanda’s board of directors deemed the proposal undervaluing the company and not in the best interests of its shareholders. Vanda has previously rejected acquisition offers and implemented a shareholder rights plan to deter hostile takeovers. The company currently has three approved products in its portfolio. Shares of Vanda have surged by 11.37% in response to this development.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.
