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can you believe this bunch of crooks running the markets ??
$29.70 finish in the states £2.14 open here
daylight robbery
they are doing the same ****e with rio tinto
unbelievable liberty’s being taken
gla we all need it on this market
Dallo
I am also a longtime bull of this share has you know
But luckily for me I have traded it for a number of years now
With this pittance being offered to shareholders and the tender offer to lower the shareholding as well has the buyback
I smell an agenda from management to either sell the company or a management buyout for has cheap as possible??
This will also explain why the septics in the know are not kicking the doors down to buy it on the Nasdaq !!
I raised my holdings yesterday to my maximum hold and I am averaging 198.5 a share leaves me in a comfortable position whatever occurs ??
This outfit Dallo has been promising holders payouts for a good couple of years now not once have they kept their word !!
I hope you long term sit and hold gang get something in return!!
But I am afraid to say I am happier in my boat than yours!!
GLA.
So I will double my holding too twelve thousand shares buying six thousand at 2.20ish
I will then take the tender offer for six thousand which will leave me with six thousand to carry on
Anyone who are in at much higher prices it’s time to buy buy buy to lower your averages surely??
1. The proposal to adopt the Merger Agreement, pursuant to which, subject to the terms and conditions set forth therein, Merger Sub will be merged with and into Karuna, the separate corporate existence of Merger Sub will cease, and Karuna will survive the merger as a wholly owned subsidiary of Parent (the “merger”):
Votes For
Votes Against
Abstentions
Broker Non-Votes
30,954,183
1,430
1,336
0
2. The proposal to approve, on a non-binding, advisory basis, certain compensation that will or may be paid by Karuna to its named executive officers that is based on or otherwise relates to the merger:
Votes For
Votes Against
Abstentions
Broker Non-Votes
25,312,364
5,523,004
121,581
0
3. In connection with the Karuna Special Meeting, the board of directors of Karuna also solicited proxies with respect to the proposal to adjourn the Karuna Special Meeting from time to time, if necessary or appropriate, as determined in good faith by the board of directors of Karuna, including for the purpose of soliciting additional votes for the approval of the proposal to adopt the Merger Agreement if there are insufficient votes at the time of the Karuna Special Meeting to approve the proposal to adopt the Merger Agreement (the “adjournment proposal”). The adjournment proposal was not submitted to Karuna stockholders for approval at the Karuna Special Meeting because a quorum of stockholders entitled to vote at the Karuna Special Meeting was present or represented by proxy and the Karuna stockholders approved the proposal to adopt the Merger Agreement.
Assuming timely satisfaction of necessary closing conditions, the parties to the Merger Agreement expect the merger to close during the first half of 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 12, 2024
Karuna Therapeutics, Inc.
(Exact name of Registrant as Specified in Its Charter)
Delaware
001-38958
27-0605902
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
99 High Street, Floor 26
Boston, Massachusetts
02110
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s Telephone Number, Including Area Code: 857 449-2244
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common stock, par value $0.0001
KRTX
Nasdaq Global Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.07
Submission of Matters to a Vote of Security Holders.
On March 12, 2024, Karuna Therapeutics, Inc., a Delaware corporation (“Karuna”) held a special meeting of stockholders (the “Karuna Special Meeting”) at which holders of Karuna’s common stock, par value $0.0001 per share, approved each of the proposals voted on at the Karuna Special Meeting relating to the transactions contemplated by the Agreement and Plan of Merger, dated as of December 22, 2023 (as it may be amended from time to time, the “Merger Agreement”), by and among Karuna, Bristol-Myers Squibb Company, a Delaware corporation (“Parent”), and Miramar Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”). Of the 38,119,463 shares of Karuna’s common stock issued and outstanding at the close of business on January 26, 2024, the record da
MARKETS
PRTC
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PureTech Health Gets FDA's Orphan Drug Designation For LYT-200 In Acute Myeloid Leukemia
March 13, 2024 — 07:55 am EDT
Written by RTTNews.com for RTTNews ->
I am wondering if the top brass at hsbc are telling us some porkys about the Chinese economy
https://www.youtube.com/live/J4_mTqUXexc?feature=shared
Karuna CEO, Board Sued by Shareholder over $14B BMS Acquisition
Published: Feb 16, 2024
By Tristan Manalac
Courthouse_iStock, Mariakray
Pictured: Signage above a U.S. courthouse/iStock, Mariakray
Karuna Therapeutics shareholder Shannon Jenkins this week filed a lawsuit against the company and its leadership—including CEO Bill Meury—for agreeing to and endorsing the $14 billion merger with Bristol Myers Squibb.
Jenkins is seeking to prevent the transaction and is alleging that Karuna’s directors had failed to disclose crucial material information regarding the company’s financial projections and sales processes, according to a case summary from Law.com. The plaintiff also claims that the defendants have conflicts of interests.
The lawsuit, which was filed Tuesday with the U.S. District Court for Delaware, names eight other defendants in addition to Meury: Christopher Coughlin, James Healy, Jeffrey Jonas, Laurie Olson, Atul Pande, Steven Paul, Denice Torres and David Wheadon. All sit on Karuna’s board of directors.
BMS first moved to buy Karuna in December 2023, paying $330 apiece for all of the biotech’s outstanding shares for a total deal value of approximately $14 billion. In exchange, BMS gains ownership of Karuna’s highly anticipated muscarinic antipsychotic candidate KarXT, which is being developed for schizophrenia and psychosis in Alzheimer’s disease patients.
KarXT has a target action date in September 2024 and is expected to launch in the U.S. this year, with a potential market of approximately 1.6 million patients with schizophrenia, many of whom suffer from harsh side effects of existing treatments or respond poorly.
At the time of the merger’s announcement, Karuna’s board of directors unanimously approved the merger with the companies anticipating the deal closing in the first half of 2024, pending anti-trust clearance and other customary conditions—including shareholder approval.
Earlier this month, Karuna filed a proxy statement to the SEC inviting stockholders to an online special meeting on March 12 in order to discuss and vote on the merger with BMS. In the filing, Karuna’s board of directors unanimously recommended that shareholders vote in favor of the transaction, writing that the acquisition is “in the best interests of Karuna and its stockholders.”
In her lawsuit, Jenkins claimed that the proxy statement leaves out or misrepresents information important to the vote, including other proposed buyers, according to Fierce Biotech.
In the proxy statement, the board directors revealed that in October 2023, a “large multinational pharmaceutical company” approached Karuna with an acquisition offer at a “significant premium” to its closing price at the time. The filing does not disclose the identity of the company or the value of its initial offer.
Jenkins is looking to prevent the merger from pushing through until Karuna discloses all pertinent information to
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Down -8.13% in 4 Weeks, Here's Why PureTech Health PLC Sponsored ADR (PRTC) Looks Ripe for a Turnaround
February 15, 2024 — 09:35 am EST
Written by Zacks Equity Research for Zacks ->
PureTech Health PLC Sponsored ADR (PRTC) has been beaten down lately with too much selling pressure. While the stock has lost 8.1% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.
Here is How to Spot Oversold Stocks
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls
I get the impression the septics also expect this to boom 💥 big time