short-squeeze ante portas - 500 Beiträge pro Seite

[DomRuinart]

Okay, hier wird fleißig auf eine Insolvenz hingeshorted. Soll mir mal einer erklären wie es bei den Zahlen zu einer Insolvenz kommen soll:

Cash balalance at end of Q2: $145M
EBITDA for 6 months: $240M
Net Note Proceeds: $325M
Interest on Existing Debt: USD$120M
Principal on Existing Debt: USD$20M
Interest on new $350M Notes: USD $7M
First Cinven Instalment: $88

145 +240 + 325 -120 - 20- 7 -88=$475M

entsprechend

Cash balalance at beginning of 2017: $475M
EBITDA for 2017: $480M
Interest on existing debt: $240M
Principal on Existing Debt: $40M
Interest on new $350M Notes: $31.5M
Principal on New notes: $10M
Second Cinven Instalment: $94

475+480-240-40-31.5-10-94=$539.5M

Das ganze abgesichert mit einen $200M Revolver Credit

Ich glaube hier eher an ein baldiges buy-out und spekuliere auf einen veritablen short-squeeze...

[DomRuinart]

Mein Reden:

Concordia International Corp.: A Safe Buy?

We’ve all had that one stock that was doing well one day, and then the next day it was heading straight for the gutters. Concordia International Corp. (TSX:CXR)(NASDAQ:CXRX) is that company.
In the beginning of September 2015, the stock was over $110 per share. Fast forward to today, only 13 months later, and the stock can be had for $6.04 per share. And along the way the $0.075 dividend was cut, leaving investors with nothing to feel excited about.
Why did it tank, though?
A big part of it had to do with the fact that it deployed a strategy similar to Valeant Pharmaceuticals Intl Corp. (TSX:VRX)(NYSE:VRX). It was using a significant amount of debt to buy companies left and right, bolstering its portfolio of products. And the thing is, it was acquiring really great assets. It bought Amdipharm Mercury Ltd. for US$3.3 billion, which gave it more than 190 different molecules and commercial reach in over 100 countries. It bought a portfolio of 18 established products from Covis Pharmaceuticals for $1.2 billion.
But when Valeant was accused of egregiously hiking drug prices, investors grew worried that governments were going to impose price caps, which would harm debt-heavy companies–thus, the situation at Concordia.
According to management, the year-end net debt/EBITDA will be approximately 6.4 times. It has a 9.5% senior note worth US$765 million due in seven years. It has a 7% senior note valued at US$710 million due in eight years. It has two term loans valued at a little over US$1 billion and US$637 million, respectively, due in six years.
So, the unfortunate reality is that Concordia is dealing with some serious debt problems that could really tank it.
Then there’s the lower 2016 guidance. Expected revenue was cut from US$1.02-1.06 billion to US$859-888 million with EBITDA cut from US$610-640 million to $510-540 million. The company is earning less and its debt is worse off, so can the company ever get things squared away?
Fortunately, the company has had three bits of good news.
The first is that Steve Cohen, one of the world’s best hedge fund managers, has increased his holding in the company by more than double. On March 31, he owned 65,100 shares. By the end of June, he had increased that number to 1.2 million. And by the middle of August, he had 2.97 million shares. That’s nearly 5.8% of the company. This tells investors that he sees something in the company.
Second, according to Reuters, the company is planning to divest a minority stake to a private equity firm. While details of this are not yet known, the investment would allow the company to bolster its books and hopefully take a chunk out of its debt.
And finally, the company anticipates that it will complete 60 total product launches by Q4 2018. These will all be outside the United States, which will continue to help the company diversify its earnings in other parts of the world. As these products gain market share, they should help elevate the company’s earnings and help it pay down the debt.
Here’s my stance on Concordia.
It’s a risky stock, like most healthcare companies that have depended on debt to grow. But it is incredibly cheap, and, if it can turn things around, it could experience serious growth. Starting a small position might help investors to realize some of these gains, and you can scale in on the way up.

Quelle: Motley Fool

[DomRuinart]

We're squeeeeeeeeeeezing...

[DomRuinart]

Hier geht noch was:

Small-Cap Spotlight on Concordia International Corp (NASDAQ:CXRX)
By Jermaine Farmer -
January 4, 2017
Concordia International Corp (NASDAQ:CXRX) is a small-cap specialty pharma play that has been murdered over the past 6 months on the adoption of a UK bill that promises to limit the ability of companies to raise prices on certain types of drugs. CXRX derives a meaningful piece of its revenue from the U.K. So this was key news. However, the stock is starting to find traction with the new year, spurred by its announcement of a new three-year, co-promotion agreement with RedHill Biopharma Ltd. through which the companies expect to expand sales of Donnatal, Concordia’s product used in the treatment of irritable bowel syndrome.
According to the press release, “Under the terms of the agreement, RedHill intends to increase the promotion of Donnatal among U.S. doctors who treat irritable bowel syndrome, with marketing efforts anticipated to begin during the current quarter. Over the three-year period, RedHill intends to promote the product in up to 30 sales territories.”
Concordia International Corp (NASDAQ:CXRX) trumpets itself as a specialty pharmaceutical company that owns a portfolio of branded and generic prescription products in the United States and internationally.
The company’s Concordia North America segment has product right sales of pharmaceutical products primarily in the United States. This segment offers a portfolio of branded and generic products, including Donnatal for the treatment of irritable bowel syndrome; Zonegran for the treatment of partial seizures in adults with epilepsy; Nilandron for the treatment of metastatic prostate cancer; Lanoxin for the treatment of mild to moderate heart failure and atrial fibrillation; and Plaquenil for the treatment of lupus and rheumatoid arthritis.
The company’s Concordia International segment engages in the acquisition, manufacture, licensing, and development of off-patent prescription medicines.
Its Orphan Drugs segment produces and distributes Photofrin, an orphan drug for the treatment of esophageal cancer, Barrett’s esophagus, and non-small cell lung cancer.
The company also provides products for the treatment of attention-deficit hyperactivity disorder, head lice infestation, and pulmonary diseases such as asthma; and control of severe or incapacitating allergic conditions such as atopic dermatitis, and seasonal and perennial allergic rhinitis.
The company was formerly known as Concordia Healthcare Corp. and changed its name to Concordia International Corp. in 2016. Concordia International Corp. is headquartered in Oakville, Canada.
According to the release, RedHill will incur the sales and marketing costs associated with promotional activities, while Concordia will provide materials and samples. Concordia will keep all revenue up to a predetermined level of sales and only after reaching that predetermined level will revenue be shared between the Company and RedHill. Concordia also plans to continue to sell Donnatal in U.S. sales territories outside the scope of the RedHill agreement.
Management was quick to voice excitement over the deal.
“This agreement is a cost-effective approach to promoting Donnatal in a manner consistent with our long-term strategic focus on operational excellence,” said Allan Oberman, Chief Executive Officer of Concordia. “RedHill’s commercial team is highly motivated and has previous experience in gastroenterology sales. We look forward to partnering with them to market Donnatal to more key prescribers who we believe can help raise the product’s profile and potentially allow us to reach more patients in the U.S.”
Dror Ben-Asher, Chief Executive Officer of RedHill, said: “We are pleased to partner with Concordia for the U.S. promotion of Donnatal. With a core U.S. commercial team in place, we plan to initiate promotional activities in the U.S. in the coming months, with a specialty gastrointestinal sales force.”
The chart shows 7% tacked on to share pricing for the stock in the past week, but this action is running counter to the larger trend in the name.
Now commanding a market cap of $122.3M, CXRX has a significant war chest ($213M) of cash on the books, which compares with about $48.9M in total current liabilities. One should also note that debt has been growing over recent quarters. CXRX is pulling in trailing 12-month revenues of $1102.1M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 94.8%.

Quelle: Oracle Dispatch

[Freddygb]

Antwort auf Beitrag Nr.: 54.010.256 von DomRuinart am 04.01.17 17:59:04

OAKVILLE, ON, Dec. 15, 2017 /PRNewswire/ - Concordia International Corp. ("Concordia" or the "Company") (NASDAQ: CXRX) (TSX: CXR), an international specialty pharmaceutical company focused on becoming a leader in European specialty, off-patent medicines, today announced that at the request of the Investment Industry Regulatory Organization of Canada ("IIROC"), the Company is confirming that it is unaware at this time of any material change in its operations that would account for the recent increase in market activity.