Navigation Links
Mangrove Partners Responds to Erroneous CPEX Assertions
Date:3/4/2011

NEW YORK, March 4, 2011 /PRNewswire/ -- Mangrove Partners, owners of 149,373 shares representing approximately 5.71% of the outstanding shares of CPEX Pharmaceuticals, Inc (Nasdaq: CPEX), believes its analysis and intentions were inaccurately portrayed in CPEX's March 2, 2011 letter to stockholders, which appears to use scare tactics in order to pressure stockholders into accepting an inadequate price for their shares.

Commenting on the merger, Nathaniel August replied, "At its most basic level the merger makes no sense. The buyer is funding only $3 million of equity yet there is approximately $10 million in transaction fees being paid to management and advisors."

As regards CPEX's scare tactics, Nathaniel August remarked, "When we first purchased CPEX stock last April, management told us the outlook for Testim was wonderful following the FDA's response to Auxilium Laboratories, Inc.'s Citizen's Petition, which states that future generic competitors must file a full NDA. Now that management is about to capture their change of control payments, CPEX is only too willing to tell stockholders how awful the outlook is for Testim."

Mangrove Partners would like to highlight the following inaccuracies in CPEX's letter:

  • CPEX's letter fails to inform stockholders of the Citizen's Petition regarding generic versions of Testim (and a subsequent affirmation of that response), which requires potential competitors to file a full NDA, an extremely costly process, in order to be approved.
  • Competing and generic products have been well known since before CPEX issued its proxy statement, which forecasts continued growth in the Testim royalty over the next four years despite the new competition. Is CPEX backing away from this projection? Although our analysis suggests that Testim is often used after AndroGel® has been ineffec
    '/>"/>

SOURCE Mangrove Partners
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related medicine technology :

1. Health Diagnostic Laboratory, Inc. (HDL, Inc.) Partners With Gamma Therapeutics to Offer Breakthrough Diagnostic Assay for Heart Attack and Stroke Risk
2. New Image Global, Inc. Partners With Limbs For U, Charitable Service Group to Provide Prosthetic Limbs in the Dominican Republic
3. Thomas, McNerney & Partners Expands Team and Moves West Coast Office to San Diego
4. Sheffield Bio-Science and Wockhardt Announce Worldwide Exclusive Partnership to Supply Recombinant Insulin to Cell Culture Market
5. BioStorage Technologies Partners with AMDeC, LLC to Provide Tissue Storage and Cold Chain Logistics Services to Academic Medical Research Institutions
6. Verathon Inc., Maker of BladderScan and GlideScope Medical Instruments, Partners With IVUmed to Sponsor Traveling Resident Scholars
7. Patient Safety Technologies, Inc. to Present at the ROTH Capital Partners 23rd Annual OC Growth Stock Conference
8. Luminex and Partners HealthCare Announce Collaboration Agreement
9. Takeda Enters Into Global Strategic Partnerships With Covance and Quintiles
10. Pharmaceutical Industry Rapidly Expanding Partnerships With New Entrants in Health Care Space, Ernst & Young Finds
11. Thought Leader Select Announces Media Partnership with Marketing4Health
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/22/2014)... Research and Markets has announced the addition ... Report 2014" report to their offering. ... 2014 is a professional and in-depth study on the ... a focus on the Chinese situation. The report ... classifications, applications and industry chain structure. The particulate respirators ...
(Date:8/22/2014)... , August 22, 2014 ... TVs Today Lincor announced general availability of ... solution that delivers a range of education, entertainment and ...      (Logo: http://photos.prnewswire.com/prnh/20140822/702945) , " ... point of care patient engagement to bedside smart devices, ...
(Date:8/22/2014)... , Aug. 22, 2014 /PRNewswire/ - SQI ... that develops and commercializes proprietary technologies and products ... has entered into a Master Service Agreement to ... DNA-based pathogen detection assays. During the initial phase ... deliver an automated working prototype of one of ...
Breaking Medicine Technology:Global and Chinese Particulate Respirators Industry Report 2014 2Lincor Unveils Next Generation TV-based Patient Engagement Solution 2SQI Diagnostics Contracted to Automate Pathogen Detection Assays 2SQI Diagnostics Contracted to Automate Pathogen Detection Assays 3
(Date:8/23/2014)... Boston, MA (PRWEB) August 23, 2014 ... now have a study aid in preparing for Food ... safety practice test by Dynamic Path. , Dynamic ... study module, which includes more than 200 review questions ... study materials are designed to cover requirements of the ...
(Date:8/23/2014)... (PRWEB) August 23, 2014 Youth substance ... Texas. It’s no different in Houston, TX. Substance abuse ... falling victim to drug and alcohol dependency in higher ... looking to beat substance abuse, but don’t know where ... treatment facility can be a challenge because most treatment ...
(Date:8/22/2014)... (PRWEB) August 23, 2014 Search ... on the first page of search engines and ... SEO Hosting has recently compared many Linux hosting ... and Bluehost are the most recommended Linux hosting ... Australia and Europe to buy high quality Linux ...
(Date:8/22/2014)... Skmen.com, an experienced supplier of fashionable clothes, has unveiled ... online store. Moreover, all these excellent items are available ... the international clients can obtain these cheap bohemian ... company’s professional online workers update its product line every ... latest information about its new arrivals and the current ...
(Date:8/22/2014)... August 22, 2014 MyWriters.com , ... written by marketing experts for marketers to help them ... caught the attention of Shane Michaels, prompting an investigative ... marketing in any way knows that content is king ... industry,” reports Michaels. “But even though content is extremely ...
Breaking Medicine News(10 mins):Health News:Food Handler Safety Certification Made Easy with Dynamic Path 2Health News:New Houston Hotline Assisting Juveniles in Locating Dependable Rehabilitation Help 2Health News:Top10BestSEOHosting.com Announces Best Cheap Hosting Suppliers Of This Summer 2Health News:Cheap Bohemian Dresses Unveiled by Experienced Supplier Skmen.com 2Health News:My Writers: Review Exposes Online Source for Quality Marketing Content 2
... 2 As health care organizations,continue to wrestle with ... finding inspiration from the skies - the aviation,industry., ... aviation,industry techniques in health care was the focus of ... by The Risk Management and,Patient Safety Institute (RM&PSI)., ...
... Clinic (ADC) - San,Diego announces Dr. Brett Wildermuth ... Veterinary Dermatology (ACVD)., Dr. Brett Wildermuth received ... of California, Davis in 2001. Upon graduation he,completed ... Hospital,and Referral Center in San Diego, working with ...
... NEW YORK, June 2, 2008 The problem of ... a container has challenged mathematicians for centuries. A ... York (CCNY) has come up with a solution that ... to shipping fruit. , Writing in the May 29 ...
... The Blue Cross and Blue Shield,Association (BCBSA) has ... Bariatric Care for 2008., According to the Agency ... bariatric surgeries increased 400 percent from 1998 to,2004. Obesity ... so bariatric surgery is being considered as a means ...
... The Walk on the Capitol,is proud to announce ... as special guest speaker for our National obesity awareness ... on the Capitol is a,history-making awareness event that will ... attention to the obesity epidemic and,the need for expanded ...
... and satellite ... symposium, ... DSCI), a provider of advanced wound care products,announced today that eleven ... & Burn Dressings with Active,Leptospermum Honey will be presented at the ...
Cached Medicine News:Health News:Health Care Leaders Gather to Gain New Safety, Risk Management Insights From Aviation Industry Experts 2Health News:Health Care Leaders Gather to Gain New Safety, Risk Management Insights From Aviation Industry Experts 3Health News:Animal Dermatology Clinic - San Diego Announces Dr. Brett Wildermuth, DVM, Achieves Diplomate Status With the American College of Veterinary Dermatology 2Health News:Highmark Blue Shield and the Blue Cross Blue Shield Association Name Area Hospitals as 2008 Blue Distinction Centers for Bariatric Care 2Health News:Television Star Caitlin Van Zandt Signs-on as Special Guest Speaker for National Obesity Awareness Event in Washington, DC, on June 17 2Health News:Derma Sciences Announces Numerous Clinical Presentations on MEDIHONEY(TM) Wound & Burn Dressings at Upcoming WUWHS Conference 2Health News:Derma Sciences Announces Numerous Clinical Presentations on MEDIHONEY(TM) Wound & Burn Dressings at Upcoming WUWHS Conference 3Health News:Derma Sciences Announces Numerous Clinical Presentations on MEDIHONEY(TM) Wound & Burn Dressings at Upcoming WUWHS Conference 4
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
Medicine Products: