Tang Capital Sees Opportunity in Cyclacel Pharma (CYCC); Starboard Pursues Full Board Change at Depomed (DEPO)


Shares of Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) climbed more than 10% in after-hours trading Friday as Tang Capital Partners LP disclosed in a regulatory filing ( SC 13D ) with the U.S. Securities and Exchange Commission (SEC) a 9.5% stake (359,900 shares) in the biopharmaceutical company

CYCC stock finished the regular session in positive territory by 6.09% (or +$0.31) at $5.40 with 270,772 shares traded

Cyclacel Pharmaceuticals, which focuses on the development and commercialization of small molecule drugs for the treatment of cancer and other diseases, has 3.77M Shares Outstanding, Market Capitalization (intraday) of $20.36M and CYCC stock 52-week range is from $3.60 to $12.60 per share



Depomed, Inc. (Nasdaq:DEPO) stock soared 14.60% (or +$3.10) to $24.34 on Friday’s trading session, following a report from Reuters indicating that the company is preparing to sell itself. 8.54M of its shares changed hands during the day, representing a large increase in activity versus its average volume (3m) of 1.17M

Depomed said after the closing bell that it has received from Starboard Value LP a written request to call for a special meeting on Tuesday, November 15, 2016, where Starboard intends to have Depomed shareholders vote on proposals for the remove and replacement of the entire board of directors of the specialty pharmaceutical company

Depomed, which engages in the development, sale, and licensing of products for pain and other central nervous system conditions, has 61.37M Shares Outstanding, Market Capitalization (intraday) of $1.49B and DEPO stock one-year range is between $12.25 and $29.44 per share


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