Riesenpotenzial für einen profitablen Pharmawert - 500 Beiträge pro Seite

[kalpchen]

wer kennt diesen Titel?
Wenn man sich die letzten Analystenmeinungen ansieht, dann ist in dieser Aktie riesen Potenzial vorhanden.

Umsatz 09 10 11 12
23 53 61 75
Gewinn pro Akie
-0,05 0,81 1,15 1,5

auf den Kurs von 2,6 gerechnet ergibt sich ein KGV von unter 2 auf ein Pharmawert!!!

Eine gute Zukunft wird auch nochmals dadurch bestärkt, dass die Insiderkäufe fast alle Käufe waren. (Fast weil einer mal in einem Jahr verkauft hat, also zu vernachlässigen)

Zur Zeit steht der Kurs charttechnisch an einem wichtigen Punkt, wenn er ausbricht dann gehts hier schwer los.

Hoffe die Leute werden mal den Titel endlich entdecken und sich drüber freuen.

Es ist keine Kaufempfehlnung oder dergleichen!!!Jeder soll sich sein eigenes Bild aus Aktien machen. Jeder kann mal daneben liegen, deswegen klärt mich auf falls ich was übersehen habe.

[kalpchen]

Penwest Reports Fourth Quarter and Year End 2009 Financial Results

Posts Second Consecutive Profitable Quarter Outlines Guidance and Business Plan Goals for 2010 Announces Intent to Pay Special Cash Dividend in Fourth Quarter 2010

PATTERSON, N.Y., March 4, 2010
GLOBE NEWSWIRE
Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced its financial results for the fourth quarter and full year ended December 31, 2009. Compared with the fourth quarter of 2008, fourth quarter 2009 revenues increased sharply to $7.0 million, selling, general and administrative expenses decreased by 15% and the Company had net income of $0.04 per share for the fourth quarter of 2009.

Penwest's accomplishments in the fourth quarter of 2009 included:

* Achieving profitability for the second consecutive quarter.


* Initiating a Phase IIa clinical trial of A0001 in patients with Friedreich's Ataxia. In the first quarter of 2010, the Company commenced a Phase IIa clinical trial of A0001 in patients with MELAS syndrome.


* Signing its fourth research and development agreement with Otsuka for Penwest to develop a formulation of an Otsuka compound utilizing Penwest's TIMERx® drug delivery technology.


* Significantly reducing total operating expenses compared to the fourth quarter of 2008.

Penwest also announced today that, in view of the cash reserves it expects to accumulate from royalties on Opana ER, as well as the Company's cost reduction initiatives implemented in 2008 and 2009, the Company's Board of Directors currently intends to declare a special cash dividend in the fourth quarter of 2010. The Company expects that the special dividend would be between $0.50 and $0.75 per share in cash. Any determination to pay a dividend would be subject to Endo Pharmaceuticals Inc.'s (Endo) net sales for Opana ER during 2010 and any other events that may arise that would limit the availability of the Company's cash resources for distribution. The Board also plans to continue to consider additional cash dividends in future years as the Company's cash resources warrant.

Jennifer L. Good, President and Chief Executive Officer, said, "2009 was marked by significant accomplishments for Penwest. We made substantial progress in each of the three primary areas of our business including maximizing the value of Opana ER, advancing A0001 into Phase IIa patient trials, and continuing to grow our drug delivery business by signing new deals and advancing the compounds we are developing under our existing arrangements. We were able to accomplish these goals while at the same time reducing our operating expenses to strengthen the Company financially.

"As we look forward to 2010, we expect to generate increasing levels of profitability and cash, to obtain results from the two Phase IIa trials that will enable us to make a 'go/no-go' decision on A0001, and to further grow our drug delivery business.

"Finally, we are pleased with the Board's intent to share the benefits of our success directly with our shareholders through the special cash dividend. We believe that this demonstrates our commitment to building and returning value to shareholders."

Fourth Quarter 2009 Financial Results

Total revenues for the fourth quarter of 2009 were $7.0 million, compared with $5.1 million for the fourth quarter of 2008. The increase was primarily due to $5.5 million of revenue recognized in the fourth quarter of 2009 for royalties from Endo on its net sales of Opana ER, representing an increase of $1.1 million in royalties, compared to the fourth quarter of 2008, and $748,000 of increased revenues earned by Penwest under its drug delivery collaborations.

Net income for the fourth quarter of 2009 was $1.2 million, or $0.04 per share, compared with a net loss of $2.2 million, or a $0.07 loss per share, for the fourth quarter of 2008.

Selling, general and administrative (SG&A) expenses were $2.1 million for the fourth quarter of 2009, compared with $2.4 million for the fourth quarter of 2008. The decrease was primarily attributable to lower compensation expenses as a result of staff reductions implemented in the first quarter of 2009 and lower share-based compensation expenses resulting from the first quarter and fourth quarter 2009 staff reductions, which were previously announced by the Company. Partially offsetting these decreased expenses were restructuring charges recorded in the fourth quarter of 2009 totaling approximately $260,000, primarily related to severance pay in connection with the fourth quarter 2009 staff reductions.

Research and product development (R&D) expenses were $2.7 million for the fourth quarter of 2009, compared with $4.2 million for the fourth quarter of 2008. The decrease of $1.5 million reflects lower contractual payments to Edison Pharmaceuticals, Inc. (Edison). In addition, the decrease reflects that the Company did not incur significant expenses in the fourth quarter of 2009 related to development of any compounds other than A0001, and that the Company had lower compensation expenses in the fourth quarter of 2009, primarily due to increased allocations of internal R&D costs relating to its drug delivery technology collaborations to cost of revenues, and the staff reductions implemented in January 2009.

Year Ended December 31, 2009 Financial Results

Total revenues for the year ended December 31, 2009 were $23.8 million, compared with $8.5 million for the year ended December 31, 2008. The increase was due to $19.3 million of revenue recognized in 2009 for royalties from Endo on its net sales of Opana ER, representing an increase of $14.2 million, compared to 2008, and $1.4 million of increased revenues earned by Penwest under its drug delivery collaborations. These increases were partially offset by lower royalties from Mylan Pharmaceuticals Inc. (Mylan) on Mylan's net sales of Pfizer Inc.'s 30 mg generic version of Procardia XL®.

The net loss for the year ended December 31, 2009 was $1.5 million, or $0.05 per share, compared with a net loss of $26.7 million, or $0.89 per share, for the year ended December 31, 2008.

SG&A expenses were $9.4 million for the year ended December 31, 2009, compared with $12.1 million for the year ended December 31, 2008. The decrease was attributable to several factors, including lower share-based compensation expense, largely due to credits recorded in the first and fourth quarters of 2009 and a decrease in expense due to the reduction in the number of outstanding stock options, both of which resulted from the forfeiture of stock options held by former employees, as well as lower compensation expenses primarily due to the January 2009 staff reductions. The decrease also reflects the $1.0 million reserve established in the first quarter of 2008 related to the collectability of a loan the Company made to Edison in February 2008 and a credit the Company recorded in the third quarter of 2009 related to the cash surrender value of the Company's insurance policies. Partially offsetting these decreased expenses were $1.3 million in costs incurred related to the proxy contest in connection with the 2009 annual meeting of shareholders and the related litigation.

R&D expenses were $12.4 million for the year ended December 31, 2009, compared with $21.0 million for the year ended December 31, 2008. The decrease of $8.6 million reflects that the Company had lower contractual payments to Edison under the collaboration agreement with Edison, no significant expenses related to the development of product candidates other than A0001, and lower compensation expenses, primarily as a result of the staff reductions implemented in the first quarter of 2008 and the first quarter of 2009, and increased allocations of internal R&D costs relating to its drug delivery technology collaborations to the cost of revenues. These decreases in R&D expenses were partially offset by increased expenses for the development of A0001.

As of December 31, 2009, Penwest had $11.5 million in cash, cash equivalents and marketable securities, compared with $16.7 million as of December 31, 2008.

2010 Financial Guidance and Business Objectives

For the full year 2010, Penwest expects revenue to be in the range of $43 million to $45 million. The Company expects SG&A expense to be in the range of $6.5 million to $7.5 million, and R&D expense to be in the range of $10.5 million to $11.5 million. The Company expects to be profitable for the full year 2010. This guidance for revenues and profitability is dependent upon projections that Penwest has received from Endo for 2010 net sales of Opana ER.

Penwest's 2010 financial guidance is aligned with the goals of the Company's business objectives for the year, which include:

* Working closely with Endo to maximize the value of Opana ER and sharing the benefits of these efforts with Penwest shareholders through the contemplated special cash dividend.


* Completing both Phase IIa trials of A0001 – one in patients with Friedreich's Ataxia and the other in patients with MELAS syndrome – and making a "go/no-go" decision on this compound.


* Exploring potential licensing opportunities for A0001 in anticipation of the completion of the Phase IIa trials.


* Continuing to grow the Company's drug delivery business both by completing formulation work on compounds under development and by signing additional deals.


* Continuing to aggressively manage the Company's expenses to ensure its costs are appropriate given its priorities.

Conference Call and Webcast

Penwest will hold a conference call today at 11:00 am EST to review the Company's financial results for the fourth quarter and year end 2009, operational developments and financial guidance for 2010.

The conference call will include remarks by Ms. Good and Mr. Frank Muscolo, Controller and Chief Accounting Officer. The dial-in numbers for the call are:

Domestic Telephone Number: 877-675-5246

International Telephone Number: 816-650-7863

The conference ID is: 58987357

Please dial in 10 minutes prior to the scheduled start time. The conference call will also be accessible live and as a replay on the Investor Relations section of the Penwest Web site at www.penwest.com. The replay will be available until March 18, 2010.

About Penwest Pharmaceuticals

Penwest is a drug development company focused on identifying and developing products that address unmet medical needs, primarily for rare disorders of the nervous system. Penwest is currently developing A0001, or a-tocopherolquinone, a coenzyme Q10 analog demonstrated to improve mitochondrial function in-vitro. Penwest is also applying its drug delivery technologies and drug formulation expertise to the formulation of our collaborators' product candidates under licensing collaborations.

Penwest Forward-Looking Statements

The matters discussed herein contain forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, which may cause the actual results in future periods to be materially different from any future performance suggested herein. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words, "believes," "anticipates," "plans," "expects," "intends," "potential," "appears," "estimates," "projects," "targets," "may," "could," and similar expressions are intended to identify forward-looking statements. Important factors that could cause results to differ materially include the following: the timing of clinical trials, such as the Phase IIa clinical trials referenced above, and risks related to patient enrollment; risks relating to the commercial success of Opana ER, including our reliance on Endo Pharmaceuticals Inc. for the commercial success of Opana ER, risks of generic competition and risks that Opana ER will not generate the revenues anticipated; the need for capital; regulatory risks relating to drugs in development, including the timing and outcome of regulatory submissions and regulatory actions with respect to A0001; whether the results of clinical trials will be indicative of the results of future clinical trials and will warrant further clinical trials, warrant submission of an application for regulatory approval of, or warrant the regulatory approval of, the product that is the subject of the trial; whether the patents and patent applications owned by us will protect the Company's products and technology; actual and potential competition; and other risks as set forth under the caption Risk Factors in Penwest's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2009, which risk factors are incorporated herein by reference.

The forward-looking statements contained in this press release speak only as of the date of the statements made. Penwest disclaims any intention or obligation to update any forward-looking statements, and these statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this release.

TIMERx is a registered trademark of Penwest. All other trademarks referenced herein are the property of their respective owners.

Penwest Pharmaceuticals Co.
Statements of Operations
(Thousands of dollars, except per share data, Unaudited)

Quarter Ended December 31 Year Ended December 31
2009 2008 2009 2008
Revenues:
Royalties $5,933 $4,807 $20,792 $6,805
Product sales 90 104 562 685
Collaborative licensing and development revenue 966 207 2,458 1,044
Total revenues 6,989 5,118 23,812 8,534
Operating expenses:
Cost of revenues 825 438 2,655 1,438
Selling, general and administrative 2,051 2,410 9,413 12,052
Research and product development 2,743 4,245 12,430 21,041
Total operating expenses 5,619 7,093 24,498 34,531
Income (loss) from operations 1,370 (1,975) (686) (25,997)
Investment income 1 35 15 541
Interest expense (154) (292) (829) (1,278)
Net income (loss) $1,217 $(2,232) $(1,500) $(26,734)

Net income (loss) per share:
Basic $0.04 $(0.07) $(0.05) $(0.89)
Diluted $0.04 $(0.07) $(0.05) $(0.89)

Weighted average shares of common stock outstanding:
Basic 31,763 31,537 31,666 29,923
Diluted 31,800 31,537 31,666 29,923

Other Information
December 31, 2009 December 31, 2008
Cash, cash equivalents and marketable securities $11,486 $16,692

CONTACT: Penwest Pharmaceuticals Co.

Investors: Jennifer Good 845-878-8401 [phone]

Kekst and Company Media: John Patteson [phone]

[kalpchen]

Zahlen über den Erwartungen und zusätzlich noch eine hübsche extra Dividende von 20 bis 30% vom kurs gesehen. Auf gehts in neu Höhen.

[kalpchen]

Penwest Signs Multi-Drug Generics Agreement With Alvogen, Inc.

PATTERSON, N.Y., April 9, 2010
GLOBE NEWSWIRE
Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced that it has signed a drug development and commercialization agreement with Alvogen, Inc. under which Penwest and Alvogen have agreed to identify and select up to five compounds for generic development. Penwest's TIMERx technology may be used for each compound selected. Penwest will formulate the agreed-upon compounds and receive milestone and royalty payments that are linked to the development of each compound.

Alvogen, the U.S.-based pharmaceutical manufacturer of complex generic products for U.S., E.U. and other international markets, will be responsible for manufacturing, clinical trials and regulatory filings for each of the formulations, as well as commercialization of the products worldwide.

Jennifer L. Good, Penwest's President and CEO, said, "We are very pleased to be partnering with Alvogen because of their record for successful product introductions within the generic pharmaceutical industry. This multi-drug, multi-national agreement allows Penwest to leverage its drug delivery technology for the formulation of generic drugs, an important segment of the market for extended release technology.

"TIMERx technology had its start in generics with the development of the first generic to Pfizer's Procardia XL product, which was formulated using the Alza Oros technology. We are pleased to be leveraging this valuable advantage of TIMERx in the development of difficult-to-formulate generic products with the expertise of the team from Alvogen."

The collaboration agreement with Alvogen represents a valuable addition to Penwest's growing drug delivery portfolio of development programs, which is being built upon broader strategic partnerships. Penwest currently has four individual research and development agreements with Otsuka Pharmaceutical Co., Ltd. working on branded products, and will now add this multi-drug agreement with Alvogen focused on generic drug development.

About Penwest Pharmaceuticals

Penwest is a drug development company focused on identifying and developing products that address unmet medical needs, primarily for rare disorders of the nervous system. Penwest is currently developing A0001, or a-tocopherolquinone, a coenzyme Q10 analog demonstrated to improve mitochondrial function in-vitro. Penwest is also applying its drug delivery technologies and drug formulation expertise to the formulation of our collaborators' product candidates under licensing collaborations.

About Alvogen, Inc.

Alvogen, Inc. is a multinational pharmaceuticals company focused on complex generic products. Alvogen is building the pharmaceutical company of tomorrow through the strategic selection of products, partners and markets, and the utilization of a consolidated global supply chain. The company product portfolio consists of a broad range of leading molecules for the treatment of conditions in the areas of Oncology, Cardiology, Respiratory, Neurology and Gastroenterology. With more than 100 years in operation, Alvogen possesses first-class regulatory, development and manufacturing capabilities in Asia, Europe and North America. Visit www.alvogen.com for additional information.

Penwest Forward-Looking Statements

The matters discussed herein contain forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, which may cause the actual results in future periods to be materially different from any future performance suggested herein. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words, "believes," "anticipates," "plans," "expects," "intends," "potential," "appears," "estimates," "projects," "targets," "may," "could," and similar expressions are intended to identify forward-looking statements. Important factors that could cause results to differ materially include the following: the dependence on third parties for the advancement of compounds utilizing the Company's drug delivery technology, the timing of clinical trials, such as the Phase IIa clinical trials, and risks related to patient enrollment; risks relating to the commercial success of Opana ER, including our reliance on Endo Pharmaceuticals Inc. for the commercial success of Opana ER, risks of generic competition and risks that Opana ER will not generate the revenues anticipated; the need for capital; regulatory risks relating to drugs in development, including the timing and outcome of regulatory submissions and regulatory actions with respect to A0001; whether the results of clinical trials will be indicative of the results of future clinical trials and will warrant further clinical trials, warrant submission of an application for regulatory approval of, or warrant the regulatory approval of, the product that is the subject of the trial; whether the patents and patent applications owned by us will protect the Company's products and technology; actual and potential competition; and other risks as set forth under the caption Risk Factors in Penwest's Quarterly Report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2010, which risk factors are incorporated herein by reference.

The forward-looking statements contained in this press release speak only as of the date of the statements made. Penwest disclaims any intention or obligation to update any forward-looking statements, and these statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this release.

TIMERx is a registered trademark of Penwest. All other trademarks referenced herein are the property of their respective owners.

CONTACT: Penwest Pharmaceuticals Co.

Investors:

Jennifer Good

845-878-8401

[phone]

Kekst and Company

Media:

John Patteson

[phone]

[kalpchen]

Und wieder hat einer die unterbewertung entdeckt!!!

Penwest Pharmaceuticals Sprengstoff fürs Depot<-->

Endingen (aktiencheck.de AG) - Den Experten von "Global Biotech Investing" zufolge holen sich Anleger mit der Aktie von Penwest Pharmaceuticals (<-->/ <--> regelrechten Sprengstoff ins Depot. Dank eines radikalen Kostenmanagements und einer überzeugenden Produktpolitik habe sich das Papier von seinem Ende 2008 markierten Tief bei 0,37 USD in den letzten Monaten auf inzwischen 3,70 USD glatt verzehnfacht. Fundamental laufe es für Penwest Pharmaceuticals mittlerweile richtig gut. Im 4. Quartal 2009 sei man bereits das zweite Quartal in Folge profitabel gewesen. Die Sales für das Gesamtjahr 2009 hätten sich im Vorjahresvergleich auf rund 24 Mio. USD knapp verdreifacht. Gleichzeitig sei mit einem Minus von 0,05 USD pro Aktie die Gewinnschwelle noch knapp verfehlt worden. Für 2010 kalkuliere Penwest Pharmaceuticals mit einer knappen Umsatzverdoppelung auf 45 Mio. USD sowie mit einem gewaltigen Überschuss. Die 2010er und 2011er Gewinnprognosen der Kollegen von BMO würden sich auf 0,79 USD bzw. auf 1,02 USD pro Aktie belaufen. Was das für die Bewertung der Penwest Pharmaceuticals-Aktie bedeutet, liegt auf der Hand: Mit einem KGV von 5 in diesem und knapp 4 im nächsten Jahr holen sich Anleger mit dem Titel regelrechten Sprengstoff ins Depot, so die Experten von "Global Biotech Investing" (Ausgabe 09 vom 03.05.2010) (03.05.2010/ac/a/a)

[kalpchen]

hallo ihr alle oder besser gesagt hallo ich,

ich bin derzeit ein alleinunterhalter hier, aber mir ist es egal. es gibt auch leute die sich angeblich für PPCO interessieren.
nachdem die zahlen raus sind, läuft es bei ppco richtig gut. den radikalen absturz am donnerstag hat diese aktie auch kurz mimtgemacht. allerdings auch schnell wieder gefange, sodass nur ein moderate minus von 1,5% zur buche stand. wegen den gut präsentierten zahlen, hat sich das EPS von 0,79 auf 0,86 und für 2011 von 1,01 auf 1,11 gesteigert. wie das kgv ist kann sich das jeder selbst errechnen.

ich hoffe hier kommt irgendwann mal eine diskussion zur stande, falls nicht dann werde ich weiterhin einige information posten.

[dottore]

Antwort auf Beitrag Nr.: 39.491.425 von kalpchen am 10.05.10 13:23:51

ja bitte, poste weiter, bin bis jetzt nur stiller Leser ....

[buy-out]

Habe gestern nach längerer Beobachtungszeit den Kauf gewagt. Niedrigere
Kurse sind wohl auf absehbare Zeit nicht mehr drin. Die Umsatz- und
Ertragsentwicklung ist phänomenal. Ein 2011er KGV von weniger als 3,5
spricht Bände und eine mögliche Dividendenrendite von 20% ist das
i-Tüpfelchen. Weiß nicht, was hier schief laufen könnte. PPCO ist m.E.
ein sehr robustes Investment. Sehe den Titel in den nächsten
12 Monaten bei mindestens 6 Dollar. Alles andere wäre eine große
Überraschung.
In Q2 werden erstmalig über 3 Monate die vollen Royalties von Endo fließen.
Damit werden wir wohl in Q2 Umsätze von 11 - 12 Mio Dollar sehen.

[buy-out]

Der Kampf um die Plätze im Board of Directors ist voll entbrannt. Warum sollte man an der eingeschlagenen Strategie etwas ändern wollen? Bis zum 22.06. wird es wohl noch die ein oder andere Verbalschlacht geben.

[buy-out]

Dear Fellow Penwest Shareholder:


Over the past year, Penwest's Board of Directors and management team have been successfully executing our focused business plan and creating value for all shareholders. We are encouraged by our achievements to date and the substantial increase in Penwest's share price.



At the same time, as you are likely aware, Kevin Tang of Tang Capital Management, L.P. and Joe Edelman of Perceptive Life Sciences Master Fund Ltd. have once again launched a proxy contest, this time to elect three directors of their choosing to Penwest's Board at our Annual Meeting of Shareholders on June 22, 2010. If they win, they will take full control of your Company's Board and with it Penwest's strategic direction.


At last year's Annual Meeting, Messrs. Tang and Edelman were elected to the Board. Since their election, the Board has worked cooperatively with them and considered carefully their input in its deliberations and decision making. With these major shareholders serving as directors, we believe that Penwest's eight-member Board has a healthy, productive system of checks and balances in place and represents the perspectives of all shareholders. In fact, during this period the Board approved additional reductions in operating expenses and announced its intention to declare a special cash dividend later this year.



Despite all of this, Messrs. Tang and Edelman are once again launching a proxy contest that, if successful, would give them full control of the Board. They are doing so after repeated efforts on our part to reach a compromise with them and avoid another costly and disruptive proxy fight.


Shareholders must ask themselves:


With a Board composed of Messrs. Tang, Edelman and their three other hand-picked nominees, giving them voting control, who would ensure that the Board acts in the best interests of all Penwest shareholders?
Wouldn't your interests be better represented by a diverse Board of independent directors rather than a Board controlled by the agendas of these two people?


It is perplexing that Messrs. Tang and Edelman are again taking the Company down a path that will waste shareholders' money, distract management and disrupt the progress we are making. We can only conclude that this is not about representing the best interests of all of our shareholders, but is instead about taking control of Penwest for themselves.



Take a look at Messrs. Tang and Edelman's actions since joining the Board. Upon becoming a Penwest director last summer, Mr. Tang immediately proposed to the Board that he be elected CEO of the Company. In the Board's vote on this, his self-serving proposal was defeated, with only two directors -- Messrs. Tang and Edelman -- voting in favor. Moreover, during their year as Board members, neither Mr. Tang nor Mr. Edelman has offered an alternative strategic plan for the Company -- beyond more cost reductions, with seemingly little thought given to whether the cuts make business sense.


Cost cutting for the sake of cost cutting, as espoused by Messrs. Tang and Edelman, does not build shareholder value. We, too, believe in cutting costs, and we have done so. But we believe that the way to build shareholder value is through a combination of responsible cost containment and revenue growth. We are executing on both. In our view, the dissidents' one-dimensional approach ignores revenue growth as an important driver of value for shareholders.



WHICH DIRECTORS DO YOU WANT CONTROLLING PENWEST AND YOUR INVESTMENT?


Messrs. Tang and Edelman are seeking to stack the Board with candidates with ties to Mr. Tang and take full control of the Company, replacing our three experienced, highly-qualified director nominees including our independent, non-executive Chairman Paul Freiman, President and CEO Jennifer Good and Christophe Bianchi, M.D., Executive Vice President and Head of Commercial Operations at Millennium: The Takeda Oncology Company. Dr. Bianchi was appointed to the Board in 2007, after we conducted, with the help of a professional search firm, a deliberate and thorough review to identify a director who would bring to the Board his level of commercial expertise.



And in whose hands would the dissidents place the future of the Company?

A 29-year-old accountant with no public company board experience who works for Mr. Tang;
A hedge fund manager with college ties to Mr. Tang who likewise has never served as a public company director; and
An acquaintance of Mr. Tang whose background is primarily in the medical technology field.



Penwest's existing Board -- with Messrs. Tang and Edelman -- includes members with medical backgrounds, drug development expertise and experience in regulatory affairs and commercial operations, members who have worked in senior management at companies engaged in drug development, members who have served as board members of public companies engaged in drug development and members with backgrounds in the financial industry, as well as our two largest shareholders.


If their three nominees are elected, the Board would be controlled primarily by hedge fund managers and an accountant for Mr. Tang's hedge fund. The system of checks and balances that exists today -- and is so critical to the governance of public companies -- would be in serious jeopardy.



There are important decisions that need to be made and actions that need to be taken to continue Penwest's progress. This is not the time to change Penwest's Board or management team and risk interrupting the Company's momentum. Re-electing the Board's nominees would leave both Mr. Tang and Mr. Edelman on the Board, each with a voice equal to that of the other elected independent directors, preserve the checks and balances and ensure that Messrs. Tang and Edelman do not control the Company's future.


Your Board strongly urges all Penwest shareholders to reject the three Tang/Edelman nominees and to vote "FOR" the re-election of each of the Company's three director nominees on the WHITE proxy card.



PLEASE USE THE WHITE PROXY CARD TO VOTE TODAY -- BY TELEPHONE, BY INTERNET OR BY SIGNING, DATING AND RETURNING THE ENCLOSED WHITE PROXY CARD. YOUR BOARD URGES YOU NOT TO SIGN OR RETURN ANY GOLD OR OTHER PROXY CARD SENT TO YOU BY TANG CAPITAL OR PERCEPTIVE.


We are confident in the Company's future and are energized by the progress the Company is making. We ask for your continued support as we pursue the right path for Penwest to build value for all of our shareholders.



If you have any questions, please don't hesitate to contact us at [phone] or [phone].


Sincerely,



Paul E. Freiman Jennifer L. Good
Chairman President and Chief Executive Officer

[kalpchen]

hi,

die zahlen sind endlich raus und wie immer hat ppco allen gezeigt wo der hammer hängt. Umsatz lag um ca. 10% höher als prognostiziert und das bessere ist noch, dass der gewinn mit 0,26 pro aktie viel höher ausgefallen ist als angenommen (0,22). Und die Spitze vom Eisberg ist, dass die guidance erhöht worden ist.
Leider konnte ich noch nichts von der dividende lesen, da dies für das 2 halbjahr ausbezahlt werden sollte. Allerdings ist ja noch ein wenig zeit bis das halbjahr zu ende geht.

PATTERSON, N.Y., Aug. 4, 2010 (GLOBE NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO - News) today reported financial results for the three and six months ended June 30, 2010. For the second quarter of 2010, revenues increased 159% year-over-year and total operating expenses decreased 28% year-over-year, leading to record net income of $8.4 million, or $0.26 per share.

Second Quarter 2010 Operating and Financial Highlights

* Revenues in the second quarter of 2010 increased to $13.6 million, which included $12.3 million in royalties recognized from Endo Pharmaceuticals Inc. (Endo) on its net sales of Opana(R) ER, compared with revenues of $5.3 million in the second quarter of 2009. The second quarter of 2010 was the first full quarter for which the Company earned royalties from Endo at the full royalty rate under the agreement between the companies.
* Penwest entered into agreements during the quarter with each of Barr Laboratories, Inc., Impax Laboratories, Inc. and Sandoz, Inc. to settle outstanding patent litigation on Opana ER. Impax was granted a license to sell a generic version of Opana ER beginning on January 1, 2013. As a result of Impax's first-to-file status on the majority of strengths of the product, all other generic challengers will be barred from launching these strengths until 180 days after Impax launches.
* Penwest signed a multi-drug development and commercialization agreement with Alvogen, Inc. to develop generic products using the Company's TIMERx drug delivery technology.

Corporate Priorities and Plan to Maximize Profitability

The Company also announced its operating priorities and plan to maximize profitability, which include the following components:

* Leveraging its drug delivery technologies and drug formulation expertise by focusing on establishing collaborations with significant revenue potential, while at the same time managing this portion of our business to ensure that, at a minimum, it is cash flow neutral on an annual basis.
* Aggressively reducing non-drug delivery partnership-funded cash expenses to allow for the vast majority of the Opana ER royalty stream to be retained in the operating income of the Company. We expect to achieve these expense reductions by the fourth quarter of this year through a further reduction in staff levels as well as an overall reduction in other costs.
* Completing its two Phase 2a studies of A0001 in the fourth quarter and reporting top-line results by year end.
* Licensing A0001 to a partner to complete further development and commercialization of this compound.
* Returning capital to our shareholders in the most tax-efficient manner available.

Jennifer L. Good, President and Chief Executive Officer, said, "It was a very significant quarter for Penwest and its shareholders with record financial performance as well as the settlement of the Opana ER patent disputes. These settlements protect most strengths of the product until January 2013.

"Our focus for the remainder of the year will be to continue executing on our plan for the drug delivery business, complete the Phase 2 trials and pursue partnership discussions for A0001, and complete additional restructuring activities to further enhance our profitability. We believe that this plan will ultimately maximize the value we can return to our shareholders."

Second Quarter 2010 Financial Results

Net income for the second quarter of 2010 was $8.4 million, or $0.26 per share, compared with a net loss of $2.1 million, or a $0.07 loss per share, for the second quarter of 2009.

Total revenues for the second quarter of 2010 were $13.6 million, compared with $5.3 million for the second quarter of 2009. The increase was primarily due to $12.3 million of revenue recognized in the second quarter of 2010 for royalties from Endo on its net sales of Opana ER, representing an increase of $7.9 million in royalties compared with the second quarter of 2009. This increase was due to an increase in net sales of Opana ER as well as the fact that the Company received its full royalty rate on Opana ER as compared to the second quarter of 2009 when the royalties due to the Company were subject to reduction as Endo had not yet recouped the remainder of the $28 million in development costs Endo funded on Penwest's behalf. The increase in revenues in the second quarter of 2010, compared with the second quarter of 2009, was also due to a $582,000 increase in revenues recognized by Penwest under its drug delivery technology collaborations.

The election of the Company's new Class I directors at its annual meeting of shareholders in June 2010 resulted in a "change in control" under the terms of certain outstanding stock option and restricted stock awards granted to employees and directors of the Company. As a result, on June 30, 2010, the vesting of these stock options and restricted stock awards was automatically accelerated, and these options and awards vested in full. These accelerations resulted in a charge of $467,000 in the second quarter of 2010, of which $226,000 was recorded to selling, general and administrative (SG&A) expense and $241,000 was recorded to research and product development (R&D) expense.

SG&A expenses were $2.5 million for the second quarter of 2010, compared with $3.3 million for the second quarter of 2009. The decrease of $830,000 was primarily attributable to lower professional fees, including fees in connection with the 2010 proxy contest in which the Company was involved as compared to the fees incurred in connection with the Company's 2009 proxy contest, and lower compensation expenses as a result of staff reductions implemented in the fourth quarter of 2009. Partially offsetting these lower costs was the additional share-based compensation expense related to the second quarter 2010 accelerated vesting of stock options and restricted stock discussed above.

R&D expenses were $1.9 million for the second quarter of 2010, compared with $3.4 million for the second quarter of 2009. The decrease of $1.5 million was primarily due to lower spending on the development of A0001. The decrease was also attributable to increased allocations of internal R&D costs relating to the Company's drug delivery technology collaborations to cost of revenues and lower compensation costs as a result of staff reductions implemented in the fourth quarter of 2009. Partially, offsetting these lower costs was the additional share-based compensation expense related to the second quarter 2010 accelerated vesting of stock options discussed above.

Financial Results for the Six Months Ended June 30, 2010

Net income for the six months ended June 30, 2010 was $12.2 million, or $0.38 per share, compared with a net loss of $3.1 million, or a $0.10 loss per share, for the six months ended June 30, 2009.

Total revenues for the six months ended June 30, 2010 were $22.4 million, compared with $10.5 million for the six months ended June 30, 2009. The increase was primarily due to $19.5 million of revenue recognized in the first six months of 2010 for royalties from Endo on its net sales of Opana ER, compared with $8.8 million for the first six months of 2009. The increase in revenues in the first six months of 2010 was also partially due to a $1.1 million increase in revenues recognized by Penwest under its drug delivery technology collaborations.

SG&A expenses were $4.1 million for the six months ended June 30, 2010, compared with $5.6 million for the six months ended June 30, 2009. The decrease of $1.5 million was primarily attributable to lower compensation expenses as a result of staff reductions implemented in the first and fourth quarters of 2009 and lower professional fees, including fees in connection with the Company's 2010 proxy contest as compared to the fees incurred in connection with the Company's 2009 proxy contest. Partially offsetting these decreased expenses were higher share-based compensation expenses in the first six months of 2010, largely reflecting a non-cash credit recorded in the first quarter of 2009 that resulted from the forfeiture of stock options held by former employees in connection with the first quarter 2009 staff reduction, and the additional share-based compensation expense related to the second quarter 2010 accelerated vesting of stock options and restricted stock discussed above.

R&D expenses were $4.1 million for the six months ended June 30, 2010, compared with $6.4 million for the six months ended June 30, 2009. The decrease of $2.3 million was primarily due to lower spending on the development of A0001. The decrease was also attributable to lower compensation costs as a result of staff reductions implemented in the first and fourth quarters of 2009, and increased allocations of internal R&D costs relating to the Company's drug delivery technology collaborations to the cost of revenues. Partially offsetting these lower costs was additional share-based compensation expense related to the second quarter 2010 accelerated vesting of stock options discussed above.

As of June 30, 2010, Penwest had $14.4 million in cash, cash equivalents and marketable securities and $28.3 million in shareholders' equity, compared with $11.5 million and $15.0 million, respectively, as of December 31, 2009.

2010 Financial Guidance

As an update to the Company's previous guidance, for the full year 2010, Penwest is increasing its revenue guidance and currently expects revenue to be in the range of $46 million to $48 million as compared to the Company's previous revenue guidance of $43 million to $45 million. As a result of an on-going review of the Company's overall expenses in keeping with the Company's goal to allow for the vast majority of the Opana ER royalty stream to be retained in operating income, the Company is suspending its expense guidance provided at the beginning of the year and expects to provide new expense guidance at a later date.

[Oberlaendler]

Antwort auf Beitrag Nr.: 39.926.994 von kalpchen am 04.08.10 14:38:07

Hallo kalpchen,

hört sich gut an.

Nasdaq: 9:00 4.04$ +0.505$ +14.28%

Könnte interessant werden. Wo liest Du etwas mit Dividende?

Gruß Oberländler

[kalpchen]

hi,

mit der dividende wurde vor einem halben jahr diskutiert, dass sie zwischen 0,50 und 0,75 liegen soll. diese sollte dann im 2 halbjahr 2010 kommen. hoffe es kommt noch was. auf eine erfolgreichen tag heute.

[Oberlaendler]

Übernahme!!!
Zu 5$
Link siehe NASDAQ.com

Oberländler

[Oberlaendler]

Antwort auf Beitrag Nr.: 39.955.172 von Oberlaendler am 09.08.10 22:19:03

Von gestern Abend:

Penwest Pharmaceuticals Agrees to be Acquired by Endo Pharmaceuticals for $5.00 per Share in Cash
Endo Will Commence All-Cash Tender Offer Shortly

Tender Offer Expected to be Completed in September

PATTERSON, N.Y., Aug. 9, 2010 (GLOBE NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced that it has entered into a merger agreement under which its long-time partner in the development and commercialization of Opana(R) ER, Endo Pharmaceuticals (Nasdaq:ENDP), has agreed to acquire all of the common stock of Penwest for $5.00 per share in cash. The total equity value of the transaction is approximately $168 million.

Jennifer L. Good, President and Chief Executive Officer, said, "The Board of Directors and I concluded that this transaction is in the best interests of Penwest and its shareholders and is an excellent way to maximize the value of Penwest's most strategic asset, Opana(R) ER."

The cash consideration represents a premium of 47% over the 30-day average of Penwest shares and 19% based on the closing price of Friday August 6. This agreement has been unanimously approved by the Penwest and Endo Boards of Directors.

Under the terms of the merger agreement, Endo will shortly commence an all-cash tender offer to acquire 100 percent of the outstanding common stock of Penwest for $5.00 per Penwest share. The tender offer is expected to be completed in September 2010. Endo will acquire any Penwest shares that are not purchased in the tender offer in a second-step merger, which is expected to be completed in the fourth quarter, at the same price per share paid in the tender offer. The tender offer will be subject to certain closing conditions, including a minimum condition that not less than a majority of shares of Penwest common stock are tendered into the offer.

Shareholders Tang Capital Partners, LP, and Perceptive Life Sciences Master Fund Ltd. whose principals Kevin Tang and Joe Edelman, respectively, are members of Penwest's Board of Directors, Mr. Tang, Penwest's Chairman of the Board, and Jennifer Good, Penwest's President and Chief Executive Officer, who collectively own 38.6% of the fully diluted common stock of Penwest, have committed to tender their shares in the tender offer.

BofA Merrill Lynch is acting as exclusive financial advisor to Penwest in connection with the transaction.

Important Additional Information Will Be Filed with the SEC

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Penwest Pharmaceuticals, Inc. (the "Company").

The tender offer described in this document has not yet commenced. At the time the tender offer is commenced, Endo Pharmaceuticals ("Parent") will file with the SEC and mail to the Company's stockholders a Tender Offer Statement on Schedule TO and the Company will file with the SEC and mail to its stockholders a Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 in connection with the transaction. These will contain important information about Parent, the Company, the transaction and other related matters. Investors and security holders are urged to read each of these documents carefully when they are available.

Investors and security holders will be able to obtain free copies of the Tender Offer Statement, the Tender Offer Solicitation/Recommendation Statement and other documents filed with the SEC by Parent and the Company through the web site maintained by the SEC at www.sec.gov once such documents are filed with the SEC. A copy of the Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 (once it becomes available) may be obtained free of charge from Penwest's website at www.penwest.com or by directing a request to Penwest at 2981 Route 22, Patterson, New York 12563, Attn: Frank Muscolo. In addition, a copy of the Tender Offer Statement, letter of transmittal and certain other related tender offer documents (once they become available) may be obtained free of charge from Endo's website at www.endo.com or by directing a request to Endo at www.endo.com, or Endo Pharmaceuticals, 100 Endo Boulevard, Chadds Ford, PA 19317, Attn: Corporate Secretary's Office.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release regarding the proposed transaction between Parent and the Company, the expected timetable for completing the transaction, future financial and operating results, benefits and synergies of the transaction, future opportunities for the combined company and any other statements about Parent or the Company managements' future expectations, beliefs, goals, plans or prospects constitute forward-looking statements. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to consummate the transaction, the ability of Parent to successfully integrate the Company's operations and employees; the ability to realize anticipated synergies and cost savings; risks relating to the commercial success of Opana ER, including our reliance on Endo Pharmaceuticals Inc. for the commercial success of Opana ER; risks of generic competition and risks that Opana ER will not generate the revenues anticipated; the need for capital; regulatory risks relating to drugs in development; whether the results of clinical trials will be indicative of the results of future clinical trials and will warrant further clinical trials, warrant submission of an application for regulatory approval of, or warrant the regulatory approval of, the product that is the subject of the trial; whether the patents and patent applications owned by us will protect the Company's products and technology; actual and potential competition; and other risks and the other factors described in the Parent's Annual Report on Form 10-K for the year ended June 30, 2009 and in Company's Annual Report on Form 10-K for the year ended December 31, 2009, each of which has been filed with the SEC. Except as otherwise required by law, Parent and the Company disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

About Penwest Pharmaceuticals

Penwest is a drug delivery company focused on applying its drug delivery technologies and drug formulation expertise to the formulation of our collaborators' product candidates under licensing collaborations. Penwest's drug delivery technology is included in Opana ER, a product for the treatment of moderate to severe chronic pain marketed by Endo Pharmaceuticals. Penwest is also developing A0001, or a-tocopherolquinone, for the treatment of Friedreich's Ataxia and MELAS syndrome.

About Endo Pharmaceuticals

Endo Pharmaceuticals is a U.S.-based, specialty healthcare solutions company, focused on high-value branded products and specialty generics. Endo is redefining its position in the healthcare marketplace by anticipating and embracing the evolution of health decisions based on the need for high-quality and cost-effective care. We aim to be the premier partner to healthcare professionals and payment providers, delivering an innovative suite of complementary diagnostics, drugs, devices and clinical data to meet the needs of patients in areas such as pain, urology, oncology and endocrinology. For more information about Endo Pharmaceuticals, and its wholly owned subsidiary HealthTronics, Inc., please visit www.endo.com.

TIMERx is a registered trademark of Penwest. All other trademarks referenced herein are the property of their respective owners.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Penwest Pharmaceuticals Co.

CONTACT: Penwest Pharmaceuticals
Investors:
Jennifer Good
[phone]
[phone]
Kekst and Company
Media:
Donald C. Cutler
[phone]

Finde ich angesichts der letzten Quartalszahlen für deutlich zu niedrig.

Gruß Oberländler

[kalpchen]

hallo leute,

es sehr trauriger moment hat uns erreicht. unsere ppco wurde leider für einen lächerlichen preis von 5dollar verkauft. wie und wieso man einen so guten laden für das kleine geld verkaufen hat kann ich nicht verstehen. aber man soll ja nicht zu gierig sein.

gruß kalpchen