Deutsche Small Caps - Basisinvestments eines Langfristdepots (Seite 6879)

[Kleiner Chef]

Bavaria Industriekapital:
Kurs Anfang 2010 9 Euro
Kurs Aktuell 11,50 Euro
Kurserwartung Ende 2010 20 Euro


Beschleunigung des Rückkaufes eigener Aktien!

BAVARIA Industriekapital AG ersetzt laufendes Aktienrückprogramm durch öffentliches Rückkaufangebot


Freitag, 12.02.2010 -

Öffentliches Aktienrückkaufangebot zum Festpreis
Erwerb von bis zu 445.574 Aktien zu Preis von 11,20 Euro je Aktie
Annahmefrist vom 16.02.2010 bis zum 09.03.2010
Der Vorstand der Münchner Industrieholding BAVARIA Industriekapital AG (ISIN DE0002605557, WKN 260555) hat heute beschlossen, das Aktienrückkaufprogramm nunmehr im Wege eines öffentlichen Rückkauf- angebots durchzuführen und zugleich das über die Börse laufende Aktienrückkaufprogramm zu beenden. Die Angebotsfrist beginnt am Dienstag, dem 16. Februar 2010, und läuft bis zum Dienstag, den 9. März 2010, 12.00 Uhr MEZ. Der Erwerbspreis liegt bei 11,20 Euro je Aktie.

BAVARIA Industriekapital AG kann im Rahmen des öffentlichen Kaufangebots bis zu 445.574 Aktien (ca. 6,97 % des Grundkapitals) erwerben.
Der Rückkauf eigener Aktien erfolgt gemäß der Vorgaben des durch die Hauptversammlung der BAVARIA Industriekapital AG vom 29. Mai 2009 gefassten Beschlusses zum Erwerb eigener Aktien. Die zurück erworbenen Aktien können zu allen im Ermächtigungsbeschluss der Hauptversammlung vorgesehenen Zwecken verwendet werden. Weitere Einzelheiten zum geplanten Rückkauf sind in der Angebotsunterlage zum öffentlichen Aktienrück- kaufangebot enthalten, die auf der Website des Unternehmens unter www.baikap.de und im elektronischen Bundesanzeiger voraussichtlich ab dem 16. Februar 2010 zum Download bereitsteht.


Wie hoch fällt die Dividende für 2009 aus?

"Bezüglich des Jahresabschlusses, der Ergebniswirksamkeit der FDPA Transaktion und der Dividende für 2009 können wir leider derzeit noch keine Aussage treffen. Der Jahresabschluss muss zuerst erstellt und durch unseren Abschlussprüfer geprüft werden. Die Veröffentlichung des Abschlusses 2009 ist für den 31. März 2010 vorgesehen, und in der Regel veröffentlichen wir den Dividendenvorschlag gemeinsam mit den Zahlen."


Fazit: Aus meiner Sicht ist entscheidend, ob der Verkauf von FDPA im alten Jahr rechtswirksam ist, damit er in der AG konsolidiert wird und auf dieser Grundlage die Dividendenentscheidung getroffen wird, unabhängig davon, ob der Geldzufluß erst im neuen Jahr erfolgt.
Die Chancen dafür stehen aus meiner Sicht mehr als fifty-fifty, daß dann die Dividende bei 2-3 Euro liegen wird. Wenn die Konsolidierung nicht in 2009 fällt, wird die Dividendenhöhe eher bei 1 Euro liegen, da man mit der Ausschüttung von 3,15 in 2009 für 2008 die liquiden Mittel in der AG mit 20 Mill. Euro komplett verwendet hat. Über genug Geld insgesamt scheint man ja zu verfügen, folgt man der Meldung über das Rückkaufangebot über insgesamt 5 Mill. Euro. Nach 47 Mill. Euro zum Ende des 3. Quartals sollte sich die liquiden Mittel im Konzern auf über 50 Mill. Euro Ende 2009 erhöht haben. Addiert man den Verkauf von FDPA hinzu, so dürften diese Ende des Q1 bei ca. 65 Mill. Euro liegen, also signifikant höher als die liquiden Mittel zum 31.03.2009 mit 54 Mill. Euro vor der HV 2009 im Mai.

Der Chart könnte somit wieder Ebenbild aus 2009 werden:



Gruß

[Kleiner Chef]

Labopharm: Rückschlag bei Labopharm durch Kapitalmaßnahme


2/12/2010
Labopharm announces pricing of US$20 million public offering of units

LAVAL, Québec and PRINCETON, NJ, Feb 12, 2010 /PRNewswire via COMTEX/ -- Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) today announced that it has priced an underwritten public offering of 11,764,706 newly issued units at a public offering price of US$1.70 per unit. Each unit is comprised of one of the Company's common shares and a warrant to purchase 0.5 of a common share. Each whole warrant entitles the holder to acquire one common share of the Company upon payment of US$2.30 per share, exercisable at any time during the period beginning six months after the date of issuance and ending three years following the date of issuance. The gross proceeds to Labopharm, before underwriting discounts and commissions and other offering expenses, from the sale of the units are expected to be approximately US$20 million.
Deutsche Bank Securities is the sole book-running manager for this offering and Canaccord Adams, Dundee Capital Markets and Versant Partners are co-managers for this offering. The Company has granted the underwriters a 30-day option to purchase up to 1,764,706 additional units to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately US$23 million. The offering is expected to close on February 18, 2010, subject to customary closing conditions.

The units will be issued in the United States pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission and in Canada pursuant to a final short form base shelf prospectus filed with the securities regulatory authorities in each of the provinces of Canada. The offering is being made only by means of a prospectus supplement and accompanying final short form base shelf prospectus. Copies of the prospectus relating to this offering, when available, may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone: [phone].

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Q & A

1.) In the article "Labopharms antidepressant will bei a gamechanger". your Tramadol
drug is mentioned worth yearly 100 Mill. Dollar of which 20 Mill. comes form Labopharm.
Is this a midterm target of Labopharm? What does it mean of which 20 Mill. comes from
Labopharm?

A: Labopharm’s once-daily tramadol product currently generates sales by the Company’s licensing and distribution partners (i.e. marketing partners) to the end user market (i.e. patients) of approximately $100 million annually. Through the various licensing and distribution agreements Labopharm has with these partners globally, Labopharm receives payments that amount to approximately 20% of the $100 million, or $20 million.

2.) The price decline after FDA approval does not imply a successful market distribution
of the investors for Trazadone. But you spoke about a Gamechanger. So can you confirm
that Trazadone has got much more potential than Tramadol?

A: While the Company believes that OLEPTRO (once-daily trazodone) could have greater potential than tramadol, we are not going to speculate with respect to future sales.

3.) What is your expectation when you get the tramadol twice daily FDA approval. Ist it
right that this drug has the biggest potential for Labopharm?

A: If you are referring to twice-daily tramadol-acetaminophen, we have not commented on the market potential for this product. In December, we initiated the regulatory approval process for our twice-daily formulation of tramadol-acetaminophen in Europe, which could take up to a year or longer. We expect to submit an application for regulatory approval in Canada this year. We expect to have discussions in the near term with the FDA with respect to potentially moving forward with a regulatory application in the U.S.


4.) Can you give a guidline, when Labopharm plans to be profitable?

A: While this is a goal for the Company, we cannot comment on expectations around achieving profitability.

5.) Can you understand the latest price decline of the Labopharm share after FDA approval?

A: There are numerous potential reasons for the price decline following FDA approval of OLEPTRO. We would prefer not to speculate in this regard. The Company is focused on building long-term shareholder value and believes that the FDA approval of OLEPTRO is a significant step in this direction. The Company expects a number of potential value-driving milestones for OLEPTRO and other product candidates in 2010 and that the achievement of such milestones will be reflected in the valuation of the Company.


Fazit: Die Informationen zum Status von Labopharm nach der Zulassung von once-daily trazodone wurden vor der Ankündigung der Kapitalmaßnahme eingeholt. Die Kapitalmaßnahme kommt zum jetzigen Zeitpunkt überraschend, da die Investoren über die Perspektiven des Unternehmens durch die Vermarktungskonzeption von Oleptro im Unklaren gelassen werden. Die Kapitalmaßnahme zu diesem Zeitpunkt und zu diesem Preis sind kein Ausdruck von einem professionellen Umgang mit dem Kapitalmarkt. Andererseits sind aus meiner Sicht alle Risiken im derzeitigen Kurs eingepreist, da man mit 2 Zulassungen und weiteren Kandidaten die große Chance hat, die Profitabilität zu erreichen. Es ist zu berücksichtigen, daß Labopharm über einen hohen Overhead-Kostenblock verfügt und zusätzlich über 20 Mill. Dollar an Fremdkapital ausweist.
Insgesamt bleibt Labopharm auf der Basis vorliegender Informationen eine Haltposition, da der Inhalt der "Value-Driver" in 2010 zeitnah kommuniziert werden wird. Deshalb dürften die akutellen Kurse mehr Chancen als Risiken enthalten.

[Kleiner Chef]

Siga Technology:

Health Agency Plans Summit on U.S. Biological Threat Preparations
Friday, Feb. 5, 2010

WASHINGTON -- The U.S. Health and Human Services Department next week plans to conduct a summit with other government entities as it works to reassess the nation's strategy for producing treatments for biological weapons materials and other public health threats (see GSN, Feb. 3).

(Feb. 5) - The Obama administration has planned a conference next week to review the development and procurement of biological threat countermeasure as part of an initiative launched last year by U.S. Health and Human Services Secretary Kathleen Sebelius, shown in December (Chip Somodevilla/Getty Images).
The two-day conference will examine federal policies and activities from initial research all the way through government approval of the sale of vaccines and other agents and suggest what improvements, if any, should be made to the system.

The workshop is the latest step in an ongoing review of the country's medical countermeasure development and procurement effort launched by HHS Secretary Kathleen Sebelius last year (see GSN, Dec. 2, 2009). Countermeasures are usually defined as drugs and vaccines that ward against chemical, biological, radiological, and nuclear agents and emerging infectious diseases.

"We want to have more promising discoveries, more advanced development, more robust manufacturing, better stockpiling and more effective distribution practices," Sebelius said of the effort Monday during the department's fiscal 2011 budget rollout. "Our ultimate goal is to have the kind of biodefense system that is so dependable and robust that potential terrorist give up and say, 'It's not worth the effort,' and when Mother Nature strikes we are ready to respond."

The evaluation is being led by Nicole Lurie, assistant secretary for preparedness and response, and will be completed "by the end of the first quarter of 2010," Sebelius said. It was ordered in the wake of the government's response to the H1N1 influenza outbreaks last summer -- when development of a vaccine progressed slower than originally expected.

The spread of H1N1 drew attention to the government's reliance on outdated technology, such as using chicken eggs to grow vaccines, "an unpredictable process we've used for the last 50 years," the HHS secretary said Monday.

The review was also spurred by the fact the government has failed to successfully develop a second-generation anthrax vaccine nearly nine years after the 2001 anthrax mailings despite spending tens of millions of dollars on the effort, according to Eric Toner, a senior associate with the University of Pittsburgh's Center for Biosecurity.

"A new anthrax vaccine has been on top of everybody's list of the countermeasures we need the most," Toner said in an interview last week. "After all this time we still don't have that and they've had to cancel the contract. Now's the time to go back and relook at this, relook at the process."

In 2006, the government canceled an $877.5 million program for production of an anthrax vaccine that was being run through Project Bioshield (see GSN, Dec. 20, 2006).

President Barack Obama acknowledged the HHS examination in his first State of the Union address last week.

"We are launching a new initiative that will give us the capacity to respond faster and more effectively to bioterrorism or an infectious disease -- a plan that will counter threats at home, and strengthen public health abroad," the president told lawmakers.

The day before Obama's speech the U.S. government received a failing grade from the Commission on the Prevention of Weapons of Mass Destruction Proliferation and Terrorism for failing to move aggressively with a plan to "rapidly recognize, respond and recover" in the event of a biological attack.

A White House official said last week the timing of the announcement was purely a coincidence.

Toner countered that there was "no doubt it was directly in response" to the report card issued by the WMD panel.

"The initiative he referred to was announced in December. That's ongoing, but I can't imagine that we would have put the sentence in the speech had not the report card been all over the news for the last two days," he said.

Other experts in the biodefense field disagree with that assessment.

The administration is "so upset they're not upset. They don't even take [the report card] seriously," said Barry Kellman, president of the International Security and Biopolicy Institute. "Frankly, a lot of people are reacting that way."

"The government has 60 programs, is spending billion of dollars and has hundreds of people working on this issue," he said in an interview last week. "To say this effort is an F is ridiculous."

The Pipeline

The existing countermeasure development pipeline, as established in 2004, begins with the National Institutes of Health or a research entity within the Defense Department conducting basic research on a drug or vaccine before transferring the materials to the Biomedical Advanced Research and Development Authority at Health and Human Services.

The authority then provides financial and managerial support for companies to develop the treatments. The licensed end product would be purchased through Project Bioshield, which was intended to receive about $5.6 billion over 10 years to purchase medicines designed to protect U.S. citizens from the effects of a WMD attack.

To date, the effort has purchased about $2 billion worth of countermeasures for the Strategic National Stockpile, which stores medical supplies in the event of a bioterrorism incident or other public health emergency.

The administration and Congress shifted roughly $609 million in fiscal 2010 from Project Bioshield's Special Reserve Fund, including a $305 million transfusion to the advanced development authority (see GSN, Jan. 8). The fiscal 2011 spending plan unveiled Monday transfers $476 million from the Special Reserve Fund to the same office so that it might take research to the preproduction stage for drugs and therapies for medical emergencies.

White House spokesman Nick Shapiro said there are four goals the initiative hopes to produce: a concerted approach to medical countermeasure development; a focus on multiuse products; an emphasis on innovation and disruptive technologies; and the establishment of new and more effective public-private partnerships.

"Prior government efforts have been mostly unable to counter market forces driving private industry toward more profitable products outside of key public health needs," Shapiro told Global Security Newswire in an e-mail message last week. "Our new approach will turn this around. We will pursue a business model that leverages market forces and reduces risk to attract pharmaceutical and biotechnology industry collaboration with the U.S. government."

A successful model, according to Shapiro, can be applied "more broadly to the urgent need for novel medical countermeasures in global health, provide a pathway toward more affordable and effective pharmaceuticals here at home, and ensure that the United States remains at the forefront of global biotechnology."

The Obama administration's approach "says all the right things" but it is "unclear how they're going to overcome the impediments that have plagued the program in the past," according to Jonathan Tucker a senior fellow with the James Martin Center for Nonproliferation Studies. "The Bush administration made a major effort on medical countermeasure development but it didn't get very far."

Still, he called the current examination the "first step toward a solution."

Toner said the review is "absolutely needed" because "the system hasn't been effective. We haven't been able to successfully develop, license and acquire the countermeasures that we need" against bioterrorism threats such as anthrax and smallpox.

He added: "What we've not been able to do is get those countermeasures through what's called the advanced development phase to a drug that can then be licensed. We're batting zero in that regard."

Before the 2006 passage of the Pandemic and All-Hazards Preparedness Act, companies interested in medical countermeasures had to bear most of the costs of advanced development, including expensive clinical trials, despite the risk that the product might fail to achieve licensure. The lack of federal funding for advanced development created a financial desert known as the "valley of death" between government-supported basic research and funding under Project Bioshield, according to Tucker.

Successful countermeasure development also has proven difficult because there are few economic incentives for the major pharmaceutical companies to develop biodefense medicines and vaccines for the government, he said.

"These are public companies that want to maximize profits," Tucker said. "They're happier selling Viagra than smallpox vaccine."

The market for biodefense countermeasures is very small -- essentially limited to government agencies -- and there are major legal liability risks involved if the products have unexpected side-effects.

"You can't infect someone with smallpox to test if an antiviral drug is effective," Tucker told GSN. "So the licensing process has to rely on efficacy studies in animal models. Yet the Food and Drug Administration hat yet to map out a clear path to licensure based on animal studies alone."

The Summit

There are a half-dozen objectives for the Feb. 11-12 session at the National Academy of Sciences building, according to an Institute of Medicine announcement.

They include identifying strategies to "optimize" the federal medical countermeasures enterprise; examining ways to enhance the conversion of early investments in basic science toward potential finished products; and evaluating possible changes to the regulatory oversight process for medical countermeasures.

At this time, Health and Human Services does not anticipate the cost of the evaluation will exceed $1 million, with funding being allocated from the advanced development authority, according to an department spokeswoman.

Those funds will cover the costs associated with "the development of white papers in three topic areas, several workshops, and associated costs for consolidating and analyzing information from all of the sources to generate a final report for the HHS Secretary," Gretchen Michael, communications director for the assistant secretary for preparedness and response, said in an e-mail message today.

In addition to next week's conference, a working group of the National Biodefense Science Board will hold a workshop at the end of February, Michael told GSN. That meeting will examine the emergency medical countermeasure enterprise and strategy through "consideration of a series of case studies," she said.

The board will send a report to Secretary Sebelius by March 31 and the assistant secretary will make policy recommendations a few weeks after that, according to Michael.

Representatives from the Homeland Security and Defense departments are likely to attend next week's conference, along with officials from various departments within Health and Human Services, such as the Centers for Disease Control and Prevention and the advanced development authority, according to Toner.

Michael confirmed that "multiple" agencies with Health and Human will attend the summit, as will members of the Pentagon. Representatives from academia, and the pharmaceutical and biotechnology communities will also attend the workshop, she added.

Toner said he could not predict what conclusions workshop participants would reach, adding that Health and Human Services "is trying to be fairly open-minded and look at a whole new approach to developing and acquiring countermeasures. Who know what will come out of it."

"I hope the outcome of the review is an increased understanding that the review, while necessary and appropriate, falls short of what is needed to improve global biopreparedness for intentional attacks and will spur, therefore, more far-reaching policy initiatives," Kellman said in an e-mail message this week. He did not elaborate.

There will be some "major reform" of the countermeasure development and procurement process but "it's not yet clear how they're going to go about it," according to Tucker.

Fazit: Siga selbst wird bei dem Gipfel bzw. Meetings zugegen sein, da mit mit ST-246 den Smallpox Markt bedient und mit ST-193 einen Wirkstoff für Anthrax. Werden die Ziele so wie ausgegeben, in der nahen Zukunft umgesetzt, wird Siga möglicherweise bereits nächste Woche im Mittelpunkt des Interesses stehen, sei es durch die Vergabe des Auftrages von Barda aus 2009, sei es das weitere Förderprogramme für die Entwicklung der beiden Wirkstoffe aufgelegt werden. Es könnte der Beginn eines neuen Zwischenspurtes für die Siga-Aktie sein. Es bleibt spannend!

[Kleiner Chef]

Labopharm: Wenn die Raubtiere im Rudel ausschwärmen -

oder wie wird aus einem kurzfristigen Spiel ein mittelfristiges Investment!

Labopharm Just Became a Great Growth Stock

According to the Wednesday morning press release, the company expects to have OLEPTRO available for prescription in the United States later this year.

After spiking to nearly $3 on the market open, shares of DDSS traded down roughly to the $2.70 mark as the morning progressed, although volume was extremely heavy; the first hour of trading saw more than ten times the average daily volume change hands.

The modest bump in price did not meet the expectations of many investors, although it's my opinion that the February 3rd approval may have caught some off-guard since February 11th was expected to be the decision-day; and the FDA has been running behind schedule at that.

The booming volume would indicate that there are big players taking positions in the stock, and although OLEPTRO won't make it to market until later this year, the potential for a short term bump in price still exists since Wednesday's PR mentioned that the company "currently expects to finalize the commercialization plan for OLEPTRO[TM] in the near term."

That means partnership news can come at any time.

With an approved product in a very large market, DDSS should be considered a nice long term growth play, one that also could become a nice short to mid term story if the stock starts trading to its potential.

These days in the biotech sector it looks more and more like large investors like to see revenue before running the stock, but the small investor needs to have the patience to wait for the run.

Remember, the big boys will play their games and eat their cake, we're just trying to pick up a few crumbs along the way.

DDSS just became a great growth stock, in my opinion, especially since the share price hasn't changed on what should be considered big news.

Also worth mentioning is the possibility of dilution, although a partnership deal could bring enough of an upfront payment to LaboPharm to negate the need for raising a large sum of cash through stock sales.

UPDATE (after market close):

An early day price spike to nearly three dollars preceded the downturn that saw DDSS trade for as low as $2.17, before closing the day at $2.21. Volume remained very strong throughout the day, as expected after such news.

These days, it's not unusual to see such a drop in price after positive FDA approval news (see: BDSI, NRIFF.PK, etc); and although it's a bit nerve-shattering for longs of the stock to watch, it's actually nothing to complain about because it gives small investors the chance to buy shares of a company with an approved drug for the same price - or less - that just days before would have bought a more speculative company with an uncertain FDA decision looming.

Even when the stock trades down after positive news, it's still a better buy today than it was yesterday because of the increased certainty that the company will be able to generate revenue over the mid to long term.

However, it's because of scenarios like this one that demonstrate the need of the small investor to base investment decision on his or her own DD - and not the message boards, blogs or unexpected price swings; in the confusion it's a whole lot easier to sell into the uncertainty and move on, but an investor who is confident in the DD will have the fortitude to stick it out, maybe add some shares on the dip, and look towards the future.

The small investor cannot influence the stock price, the stock price will do what the big boys want it to do; it's up to the small investor to be on top of his or her game and to take advantage of the volatility and manipulation (if in fact manipulation is at play) . In this case it's a buying opportunity that has been presented, in my opinion.

When discussing possible manipulation, you can't ignore the fact that when the big boys want a stock to drop, they get their minions - that I like to call riff-raff - to swarm the message boards with multiple user IDs whose orders are to create a mood of confusion, panic, fear and uncertainty. Many small investors cannot handle the desperation that comes with all of those emotions and will therefore sell their shares (either for a loss or not as much profit as they could have banked by selling earlier) and play right into the hands of the riff-raff.

Once the stock has dropped and the riff-raff are somewhat satisfied with the amount of shares that they've shaken loose, they disappear off the message boards just as quickly as they showed up. Many will deny that such manipulation takes place, but after seeing the same game quite a few times, you'll feel a lot more comfortable holding through the storm, and possibly even adding a few shares.

Don't get me wrong, if something changes with the company that you're investing in that fits your 'exit strategy' protocol, then it may be wise to completely bail out. But if it's a secondary variable that is impacting the share price of your stock, and not actually events related to the company, then rely on your DD and stick to your entry/exit strategies.

It always comes back to DD and patience - and to not being afraid to take some profit off the table when the opportunity arises.

In the case of DDSS - as is usually the case immediately after FDA approvals- the time between approval and commercial launch is usually months, and that is why - in my opinion - there is time for these games to be played; because even after a commercial launch, it'll still be months before the investor has a good idea of how much revenue is coming in.

That's why these days the small investor can't count on banking some profits immediately after approval - we need to have a longer term outlook to realize the expected gains; however, with that said, there is usually plenty of volatility leading up to the FDA approval that allows investors to do a bit of trading in order to end up on house money by the time D-day comes.

If you were positive on DDSS before the FDA decision, then there's no reason to change your position now - just keep patient and look for news regarding a partnership announcement, commercial launch and ultimately, the revenue generation for OLEPTRO could be significant.

All just my opinion, each investor should do his or her own DD.


http://seekingalpha.com/article/186526-labopharm-just-became…

Fazit:

Labopharm wurde mitte Januar für 1,5 Euro vor der FDA-Zulassung erworben in der Erwartung, daß nach einer solchen Zulassung dem Unternehmen eine höhere Bewertung, durch mehr Sicherheit und den anstehenden Vermarktungschancen, zugesprochen wird.

Nun, da das Rudel von Raubtieren über den Wert herfällt, ist die Bewertung wieder auf dem Ursprungsniveau angekommen. Sehr schön wird diese Vorgehensweise im zitierten Bericht dokumentiert.

Labopharm wird jetzt mit 100 Mill. Dollar an der Börse bewertet. Es wird kurzfristig die Vermarktungskonzeption von Trazadol publiziert. Im Jahr 2009 macht das Unternehmen etwa 20 Mill. Dollar Umsatz. In 2010 kann der Umsatz mehr als verdoppelt werden aus der Vermarktung von 2 zugelassenen Medikamenten. In 2011 kann der Umsatz dann die 100 Mill. Dollar Grenze überschreiten. Für eine dann profitables Unternehmen, mit drei zugelassenen Medikamenten wird i.d.R. ein mehrfaches des Jahresumsatzes bezahlt. Gute Aussichten also für ein mittelfristiges Investment.

[Kleiner Chef]

Watchlist: Silicon Sensor Übernahme durch Augusta?

Im aktuellen Platow-Brief steht Augusta auf dem Prüfstand! Augusta
wird als Highlight des Close Brothers Mid&Small Conference zitiert.

Alles Wiederholungen der Spekulationen über Nov., Hopp und Silicon Sensor sind im Artikel hervorgehoben. Ansonsten wird nur gesagt, daß dieses Jahr mit Verstärkung des Vorstands ernst gemacht wird.

Zum Preis wird nichts gesagt.
Wenn SIS derzeit für 35 Mio. Euro zu haben ist, bin ich glaube ich kein Prophet, das SIS für 40 - 50 Mio. über den Tisch gehen könnte.

Viel interessanter ist das letzte Interview aus Jan. 2010 des Augusta Vorstands, wonach man eine ähnliche 1. Akquisition ohne Verwässerung stemmen könnte, 1 Mio. Aktien + Cash + Fremdkapital. Dennoch bleibt es dabei, daß für Augusta dies eine Option für die Zukunft bedeutet, dennoch dürfte der Gewinnbeitrag in 2010 sich in Grenzen halten.

Fazit: Kommt es tatsächlich zu einer Übernahme zwischen 40-50 Mill. Euro wird dies für Augusta eher mittelfristiges Potenzial eröffnen, während für SIS-Aktionäre ein Übernahmeangebot einen Kurssprung von ca 20 % ergeben könnte.

[Kleiner Chef]

Quanmax: Kurserwartung Ende 2010 4 Euro!

DJ DGAP-Adhoc: Quanmax AG erhält Ausfallsbürgschaft des..


08:30
Landes Oberösterreich


Quanmax AG / Sonstiges

03.02.2010

Veröffentlichung einer Ad-hoc-Mitteilung nach § 15 WpHG,
übermittelt
durch die DGAP - ein Unternehmen der EquityStory AG.
Für den Inhalt der Mitteilung ist der Emittent verantwortlich.

--------------------------------------------------------------------------

Quanmax AG erhält Ausfallsbürgschaft des Landes Oberösterreich

Die Quanmax AG hat vom Land Oberösterreich auf Grundlage des vom
oberösterreichischen Landtag am 2.4.2009 beschlossenen Haftungsmodells
eine
Ausfallsbürgschaft über 80 Prozent einer zusätzlichen
6-Millionen-Euro-Finanzierung bekommen. Der Kredit über 6 Millionen Euro,
der von einem Bankenkonsortium bestehend aus BAWAG und Volksbank
bereitgestellt wird, soll als Working Capital das weitere Wachstum und die
Expansion des Unternehmens sicherstellen. In Zeiten der internationalen
Kreditklemme sind Liquidität und ausreichende Kreditlinien für den
Computerhersteller ein Schlüsselfaktor, um seinen Marktanteil und die
Arbeitsplätze in Österreich abzusichern.

Bereits im November 2009 wurde die Eigenkapitalquote des Unternehmens durch
eine Kapitalerhöhung von 8,3 Mio. EUR auf rund 50 Prozent gesteigert. Mit
dem neuen Kreditrahmen wurden nun auch Liquiditätsengpässe beseitigt,
die
in der Vergangenheit zu Problemen bei der Abwicklung von Großprojekten
geführt hatten. Trotz des schwierigen Marktumfeldes geht das Management
für
2009 von einem Nettogewinn von 2 bis 3 Millionen Euro aus. Damit ist die
Restrukturierung des Unternehmens sowohl operativ als auch bilanziell
erfolgreich abgeschlossen.

Zukünftig will die Quanmax AG mit Produkten mit ausgezeichnetem
Preis/Leistungsverhältnis sowie besonders flexibler Projektabwicklung
neben
dem starkem Österreich-Geschäft auch in Osteuropa, Deutschland und
der
Schweiz mitmischen. Dabei sollen durch mehr Wertschöpfung in
Österreich
zudem bereits mittelfristig technologische und logistische
Alleinstellungsmerkmale geschaffen werden.

Die börsennotierte Quanmax AG ist mit den Marken chiliGREEN, *G, und
Maxdata einer der größten Vermarkter von IT-Hardware in
Österreich. Das
Unternehmen fertigt Notebooks, PCs, externe Festplatten und Server, die
über namhafte Handelspartner, Fachhändler und online vertrieben
werden. Am
Linzer Standort beschäftigt das Unternehmen über 100 Mitarbeiter.


03.02.2010 Ad-hoc-Meldungen, Finanznachrichten und Pressemitteilungen
übermittelt durch die DGAP.
Medienarchiv unter http://www.dgap-medientreff.de und http://www.dgap.de

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Sprache: Deutsch
Unternehmen: Quanmax AG
Industriezeile 35
4021 Linz
Österreich
Telefon: [phone] - 0
Fax: [phone] - 801
E-Mail: [e-mail]
Internet: www.quanmax.ag
ISIN: AT0000A0E9W5
WKN: A0X9EJ
Börsen: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, München, Düsseldorf, Stuttgart,
Hamburg

Ende der Mitteilung DGAP News-Service

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(END) Dow Jones Newswires

February 03, 2010 02:30 ET (07:30 GMT)

020310 07:30 -- GMT
© DJV



Das ist die Reaktion des Marktes in einem schlechten Umfeld:

[Kleiner Chef]

Antwort auf Beitrag Nr.: 38.877.128 von testersteron am 04.02.10 09:25:10

Schaue Dir einfach den letzten Bericht an und mach Dir ein Bild:

http://www.labopharm.com/images/pdf_img.gif

Wir sind jetzt auf ein Niveau zurückgefallen, bei dem wir weit vor der Zulassung waren und haben 25 % abgegeben. Die Company ist noch 100 Mill. Dollar wert. Das könnte der Umsatz vom nächsten Jahr sein. Normalerweise sind solche Companies mit mit dem 3-4 fachen Umsatz bewertet. Ich wäre schon sehr überrascht, wenn wir nicht auch eine Gegenbewegung im Kurs sehen. Hängt natürlich auch an dem Umfeld.

Gruß

[testersteron]

Ist Labopharm jetzt ein Kauf oder sollte man noch warten?

[Kleiner Chef]

Antwort auf Beitrag Nr.: 38.851.334 von Kleiner Chef am 31.01.10 17:39:26

Labopharm: Die Zulassung ist da!


Labopharm's Antidepressant Gets FDA Approval; Commercialization Plan In The Works - Update
2/3/2010 9:42 AM ET


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Trade DDSS now with

(RTTNews) - Labopharm Inc. (DDSS: News ) (DDS.TO: News ) has every reason to cheer and investors are in high spirits. The shares traded as high as $3.74 in pre-market trading on Wednesday, an increase of 43% from the previous day's close of $2.61.

The FDA, which was scheduled to make a decision on the company's novel once-daily formulation of the antidepressant trazodone, now branded as Oleptro Extended Release Tablets, for the treatment of major depressive disorder in adults on February 11, approved the drug today, a week ahead of its deadline. RTTNews had alerted readers about the impending FDA decision on January 20.

Major depressive disorder or MDD is a common mental illness and it affects more than 14 million adults in the U.S. The U.S. antidepressant market is estimated to be in excess of $11 billion.

The company said it has completed market research with physicians and third-party payors, developed a positioning and marketing campaign for the drug and finalized product manufacturing and packaging arrangements.

Labopharm expects Oleptro to be available for prescription in the U.S. later this year, with specific timing for its launch to be determined within the context of the final commercialization plan. The company is also actively exploring several alternatives for the U.S. commercialization of the drug and a commercialization plan is expected to be finalized in the near term


Einschätzung: Sell on good news findet heute statt. 50 % der ausstehenden Aktien wechseln heute den Besitzer. Dannach kann man in die nächste Phase gespannt erwarten, die Vermarktungskonzeption mit Bekanntgabe des Partners sowie der Launch des Produkt. Nach den News ist bekanntlich vor den News. Und die werden bald kommen.

[Kleiner Chef]

Labopharm: Kurserwartung Ende 2010 4 Euro!

Die wohl kurzfristig spannendste Aktie im Depot ist Labopharm, da am 11.02 das FDA-Approval für das Anti-Drepressivum Trazodone ansteht:

Labopharm’s new antidepressant to be ‘game-changer’
January 26, 2010 by leonardzehr · Leave a Comment
It’s game on for Labopharm (TSXDS (2.79 ↑1.82%); NASDAQDSS).

By February 11, the FDA is expected to approve the company’s antidepressant trazodone, a novel once-daily formulation that addresses many of the shortcomings of similar drugs on the market. “I think it’s fair to say this drug could be a game-changer for us,” CEO James Howard-Tripp says in an exclusive interview with BioTuesday.ca. “Clearly, it has the potential to be a bigger drug for us than tramadol.”

Labopharm’s once-daily tramadol pain drug has been launched in 17 countries and is generating top line sales of $100 million a year. “That drops about $20 million down to us, of which we have a gross margin of 55% to 60%,” he adds.

“2010 is clearly a pivotal year,” he contends. “Tramadol is making decent money; we would like it to make more, so we will make a strong push to do that. With the possible approval of trazodone right around the corner and then a launch, this has opportunity to put us into a different space. And we have the opportunity for a third drug approval by year-end. So, there are not very many organizations in our position that can show that.”

In mid-December, Labopharm filed regulatory documents in Europe to clear its twice-daily tramadol-acetaminophen drug for acute pain, with the review process likely to take 12 months. It also lined up Germany’s Grunenthal to distribute and market the drug in a number of European countries. Grunenthal currently markets Labopharm’s once-daily tramadol in France and Belgium.

But for now, all attention is focused on trazodone.

The annual U.S. market for antidepressants is more than $12 billion (U.S.). According to Labopharm, shortcomings with the current standard of care, namely serotonin-specific reuptake inhibitors (SSRIs) and serotonin-norepinephrine reuptake inhibitors (SNRIs), may force 28% of patients to stop therapy in the first four weeks and 44% in the first 12 weeks. The reasons: less than optimal efficacy, slow onset of action, increased sleep disturbance and agitation, sexual dysfunction and weight gain.

Mr. Howard-Tripp explains that trazodone needs to be dosed at 300 milligrams a day in order to get true antidepressant efficacy. But because it was a three-times-a day dose, it often results in an undue level of next day drowsiness.

“What we’ve been able to do with our once-a-day is to make it to be used at the 300-mg level, with the full antidepressant effect, and a positive effect on sleep but without the undue level of next day drowsiness.” It also has a fast onset of action and does not exhibit drug-induced sexual dysfunction or drug-induced weight gain.

Dundee Securities analyst David Martin points out that trazodone’s barrier to market entry should be lower, because “all currently approved antidepressants have similar efficacy, making the side effect profile an important differentiator.”

Labopharm plans to sign a marketing partner for trazodone after it receives FDA approval. “We are comfortable with that,” Mr. Howard-Tripp says, adding that launch preparations and planning have been underway for well over a year.

Dundee’s Mr. Martin figures a partnership could bring Labopharm an upfront payment in the range of $10 million to $20 million.

While Labopharm’s tramadol pain drug holds the largest market share for once-daily tramadol products in Canada and Europe, sales in the U.S. have remained below expectations since the May 2009 launch by marketing partner, Purdue Pharma. The reason: the threat of generic competition.

There are at least two tramadol copycats being sold in the U.S. now, but Mr. Howard-Tripp says neither is a “generic formulation of our product, so they are not substitutable for our formulation at the pharmacy.”

Moreover, he said, “Purdue has come back to us and confirmed that they think this is an important product in their portfolio, and their intent is to continue promoting the drug.”

Despite the challenging market conditions in the U.S., “neither one of us is happy with the performance to date,” he admits. “We have a number of strategies on the table to increase the value of the product. Unfortunately, people are just going to have to wait a while to see how that plays out.”

Last April, Labopharm reported pivotal results of efficacy from its tramadol-acetaminophen drug for acute low back pain that demonstrated a “statistically significant difference from placebo in some cases but not in others.” Citing different requirements for the analysis of efficacy by regulators around the world, the company acknowledged the trial results were “likely insufficient” for an FDA filing but strong enough for filings in Europe and Canada.

Mr. Howard-Tripp says the company plans to meet with the FDA soon to review the data and whether it is sufficient to file. “If it is, we’ll go ahead and file. If it isn’t, we’ll adjust according to what else we need. If another pivotal trial is needed, then yes we would go ahead.”

Acute pain, which can last from several days to six months and covers arthritic conditions, represents 40% of the $30 billion global analgesic market. Labopharm’s solution is a twice-daily pill that offers acetaminophen for rapid onset of action and tramadol for analgesic strength in order to reduce the potential for opioid-related side effects, among other things.

“We are excited about this drug,” Mr. Howard-Tripp says. “We’ve had a lot of interest from a number of players around the world. So we are going to continue to file in global jurisdictions and continue to partner the drug.”



And as Labopharm pushes along several pipeline projects, the company appears ready to turn the page on merely using formulation technologies to address limitations in the action of FDA-approved drugs. “You will also see us beginning to go a little deeper as we move, not necessarily into new chemical entities, but certainly more towards that as we try to get products that have very high rewards,” he contends.

Another hallmark for 2010 will be a very strong commercial bias, he adds. “We have a clear intent as we move out down the road to be able to not only develop our own drugs but to commercialize our own drugs. A very small and focused sales force will be considered.”



Asked about co-promoting trazodone, he says “we have had our best success all over the world wherever we have been very involved in the sales and marketing process with our partners. We made the comment some time ago that it will be unlikely that we will simply hand over future drugs. We would always want to have a role in it with the partner.”