Depomed (DEPO) Under Starboard Umbrella; Sale-Rumors Around Relypsa (RLYP)
Shares of DepoMed Inc. (Nasdaq:DEPO) climbed more than 8% in the extended session Thursday after Starboard Value LP disclosed in a regulatory filing ( SC 13D ) with the SEC a 9.8% stake in the specialty pharmaceutical company.
According to the SEC filing, the activist investor intends to nominate its own directors to Depomed’s Board due to certain concerns.
DEPO stock closed at $15.00, up $0.17 (or +1.15%), and 2,977,339 of its shares were traded during the day.
Depomed, which engages in the development, sale, and licensing of products for pain and neurology related disorders, has 60.90M Shares Outstanding, Market Capitalization (intraday) of $913.56M and DEPO stock one-year range is between $12.25 and $33.74 per share
Relypsa, Inc. (Nasdaq:RLYP) stock soared $9.81 (or +67.61%) to $24.32 on Thursday following a report by Reuters indicating that the company is considering selling itself.
Relypsa recently reported a net loss of ($178.7) million, or ($4.39) per share for the full year 2015, versus a net loss of ($79.9) million, or ($2.43) per share in the same period the prior year
21,380,859 shares of the company exchanged hands during the trading session, representing a very large increase in activity versus its average volume (3m) of 2,413,580
Relypsa, a biopharmaceutical company, has 43.31M Shares Outstanding, Market Capitalization (intraday) of $1.05B and RLYP stock 52-week range is from $10.26 to $37.95 per share
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