4 of 5 sell siders start Procept at Buy

Oct-11-21 Initiated SVB Leerink Outperform $46 Oct-11-21 Initiated Guggenheim Buy $45 Oct-11-21 Initiated Goldman Neutral $37 Oct-11-21 Initiated Cowen Outperform $50 Oct-11-21 Initiated BofA Securities Buy $48

https://finviz.com/quote.ashx?t=PRCT&ty=c&ta=1&p=d

Healthcare Trust surges after activist investor urged exploring buyout

 Shares of Healthcare Trust of America Inc. HTA, +1.21% surged 2.5% toward a 19-month high in premarket trading Monday, after activist investor Elliott Investment Management L.P. urged the real estate investment trust that owns and operates medical office buildings to explore a sale. In a letter to Healthcare Trust's board, Elliott said given the company's "long-term underperformance" relative to its peers, broader REIT sector and the broader stock market, the "status quo is untenable" as the company's cost of capital makes it uncompetitive. Elliott said it was "confident that highly credible buyers will present compelling offers to acquire the company at a substantial premium to the current trading price," and prices seen since the recent resignation of Chief Executive Scott Peters. The stock, on track to open at the highest price seen during regular-session hours since March 2020, has rallied 21.5% over the past 12 months, while the SPDR Real Estate Select Sector ETF XLRE, +0.16% has climbed 20.8% and the S&P 500 SPX, +0.45% has advanced 26.3%.

https://www.marketwatch.com/story/healthcare-trust-stock-surges-after-activist-investor-urged-reit-to-explore-a-buyout-deal-2021-10-11

Pacira adds pain drugs with $427.5 million Flexion buy

 Pacira BioSciences said on Monday it would acquire Flexion Therapeutics Inc for about $427.5 million, gaining access to several promising pain drugs and bolstering growth prospects.

Pacira will buy Flexion's outstanding shares for $8.50 each, a 47% premium to their last closing price. Flexion's stock soared past the offer price in premarket trade, rising 70% to $9.81.

Flexion shareholders will also receive an additional payment of up to $8 per share based on the company's knee pain drug, Zilretta, achieving certain sales milestones and other experimental treatments receiving regulatory clearances.

Zilretta is a non-opiod drug for chronic osteoarthritis knee pain launched in 2017, and recorded sales of $85.6 million last year.

Pacira will also get access to two drugs under development, FX201 and FX301, which are aimed at treating musculoskeletal pain and postsurgical pain respectively.

The company, which expects the deal to close by the end of the year and improve its earnings from 2022 onwards, said it would pay Flexion shareholders $1 per share following U.S. FDA approval of each of the two drugs in development and up to $3 per share for certain net sales milestones for Zilretta.

Currently Pacira's drug portfolio comprises of only Exparel, a local non-opiod anesthetic administered at the time of surgery.

Pacira recorded $413.3 million in sales of Exparel in 2020, and $121.9 million in the third quarter alone, but now faces challenges from generic manufacturers.

The company last week received a notice that eVenus Pharmaceutical Laboratories had filed an application with the U.S. FDA for manufacturing and marketing a generic of Exparel.

https://finance.yahoo.com/news/1-pacira-buy-flexion-427-114446341.html

Supernus bolsters Parkinson's portfolio with $400 mln deal for Adamas

 Supernus Pharmaceuticals Inc said on Monday it would acquire drugmaker Adamas Pharmaceuticals Inc for about $400 million, as it looks to expand its portfolio of treatments for Parkinson's disease and limit reliance on its top-seller epilepsy drug.

Supernus, which makes drugs for central nervous system disorders, will get access to Adamas' commercial products including Gocovri extended release capsules and Osmolex ER meant for treating symptoms for Parkinson's disease.

"This acquisition represents a significant step to further build a strong and diverse Parkinson's disease portfolio, and aligns with our focus of acquiring value-enhancing, clinically-differentiated medicines to treat CNS diseases," Supernus Pharmaceuticals CEO Jack Khattar said.

The deal will help Supernus Pharma reduce dependence on Trokendi XR, used to prevent migraines and treat seizures in epilepsy patients, which made up about 57% of Supernus' net product sales of $138.6 million in the second quarter of this year.

Supernus in June last year completed its deal for a portfolio of drugs targeting the central nervous system from US WorldMeds, expanding further into developing treatments for Parkinson's disease.

As part of the latest deal, Adamas Pharma shareholders will receive an upfront cash payment of $8.10 per share, a premium of 75.7% to Adamas' Friday closing price, according to Refinitiv IBES data.

Shareholders are also entitled to an additional payment of up to $1.00 per share subject to certain net sales milestones for Gocovri.

The company said the deal is expected to close in the fourth quarter of 2021 or the first quarter of 2022. 

https://finance.yahoo.com/news/1-supernus-buy-adamas-pharma-112558960.html

Protagonist: FDA lifts hold on cancer med

 All ongoing clinical trials of rusfertide to resume dosing

Phase 3 registrational trial planned to commence in the first quarter of 2022

Conference call scheduled for today at 8:00 A.M. ET

A conference call will take place today, October 11, 2021, at 8:00 a.m. ET.

Live audio of the conference call will be simultaneously broadcast over the internet. The call will be available to investors, members of the news media, and the general public.

To access the live call, dial (877) 870-4263 (U.S./Canada) or (412) 317-0790 (international) five minutes prior to the call and ask to be joined to the Protagonist Therapeutics call. A live and archived webcast will be accessible in the Investors section of the Company's website at www.protagonist-inc.com.

https://finance.yahoo.com/news/protagonist-therapeutics-announces-removal-fda-110000856.html