(MM) (ITMN) Quote

I'm out guys.

William Blair Raises InterMune’s Price Target To $74 Following Acquisition By Roche http://www.smarteranalyst.com/2014/08/25/william-blair-raises-intermunes-price-target-to-74-following-acquisition-by-roche/

Thank you $$$$ITMN$$$$

Congrats every longs dream!!!!

Great Banker for the patient long from under 30!!!

68 to 70 Imo

The buyout news:

Roche to Acquire InterMune for $74.00/Share in Cash
The Deal:Roche (OTC: RHHBY) and InterMune (NASDAQ: ITMN) announced Sunday that Roche will acquire InterMune for $74.00 per share in cash, for a total transaction value of $8.3 billion. Roche will commence a tender offer no later than August 29, 2014, to acquire all outstanding shares of InterMune common stock, and InterMune will recommend that InterMune's shareholders tender their shares to Roche.
The deal, which was rumored by multiple sources in the past two weeks, has been approved by the boards of both companies, and is expected to close in 2014.
InterMune closed Friday at $53.80, a gain of 1%.

I've got a GTC order in for 2000 shares hoping to get filled below $74... Stock will trade at $74 tomorrow all day long.

What Do You Think PreMarket Will Be ? Will It Set It At 74 As Stated In News ?

Roche to buy InterMune for $8.3bn

Roche has agreed to buy InterMune, the US biotech company, for $8.3bn in its biggest acquisition for five years, the latest example of the feverish deal activity sweeping the pharmaceutical sector

FINANCIAL TIMES

Sunday August 24 2014


BREAKING NEWS

read on Reuters: http://www.reuters.com/article/2014/08/24/us-intermune-roche-idUSKBN0GO0PI20140824?type=companyNews

Au revoir!

Thank you InterMune and all the traders on this board. It has been my pleasure learning and discussing. I truly wish users of InteMune's products the very best. C U on other boards. Go ITMN, GLTA, and trade well. Fergo

And from my SA news feed: Shares of InterMune (ITMN +14.3%) spike on a 2x surge in volume in response to rumors that Roche (OTCQX:RHHBY +0.4%), Sanofi (SNY +0.7%), Glaxo (GSK -0.1%) and Actelion (OTCPK:ALIOF) (OTC:ACIOY) are preparing offers. Trading in ITMN shares was halted briefly at 1:00 pm EDT due to abnormal volatility.

As always, appreciate your 2 cents Steve. GLTA and trade well

Fergo, Haven't heard anything. Suspect this attempt is more likely to work but perhaps the European biggies see enough $$$ ahead in Europe, with the US being a very tasty icing on the cake. Steve

Someconcerns - any rumors on FDA approval?

Fergo,
Yes, that's the Bloomberg story I just saw. As it at first traded over 54 and is now down to 51, it seems to have been taken seriously but perhaps the first high prices were a bit too enthusiastic. Maybe someone is reassessing what the bids are likely to come in at.
Steve

Just found this:

Biopharmaceutical company InterMune Inc.(ITMN) has drawn takeover bids from suitors including Sanofi S.A.(SNYNF) , Roche Holding AG(RHHVF) , GlaxoSmithKline PLC(GSK) and Actelion Ltd.(ALIOF) , Bloomberg News reported Wednesday on its website, citing people with knowledge of the matter.

Goldman Sachs Group Inc. (GS) and Centerview Partners LLC are advising California-based InterMune(ITMN) in the process, the people told Bloomberg.

Full story at: www.bloomberg.com/news/2014-08-13/europe-s-biggest-drugmakers-said-to-bid-for-intermune.html

And the stories have now shown up on Bloomberg and Reuters.

Big jump in price today, to the 53-54 area. Impending news of a buyout? Haven't found any released news myself.

Superb execution by ITMN management team.
EU sales is picking up even without new launching during the last Q.
I expect to see further traction in sales outside U.S. with Ascend data. The most exciting news from C.C. was launching is expected in Q4, way ahead of schedule. Also all the detail in preparation was announced. No FDA advisory committee planned. They had all this prepped 2 years ago already. I have seen many companies settling with low ball offer just because they lack marketing experience and capital it requires. ITMN is capable of "go it alone" and this pathway actually can bring the best return to the shareholders,IMO. BI will have real tough time to gain any market share against Pirfenidone.

SSc-ILD can be a game changer later on.
Aside from PCP and Pulmonologist, Rheumatologists should be a target physician group as well. Company should consider building ILD patients registry database through imaging data such as High Resolution CT.

Unlike Hep C, ILD can be controlled, but not cured.
Huge patients warehousing,
No boom and bust.

All IMO, GLTA

It will be interesting, especially with the general downdraft against most biotech stocks. $ITMN is one that has been one of the few exceptions.

Earning C.C. on this Wed. 8/6

I believe ITMN will advance higher this upcoming week and reach new highs surpassing current TP's.

EU and Canadian roll out can gain the traction from recent trial result. They may increase the full year guidelines.

The Balance sheet will look better than ever with no debt and decreased overall expenses.

ITMN is capable of "Go it Alone" with previous marketing experience for Actimmune and Esbriet outside U.S..

So nice and lean pipeline as "fibrosis specialty co." It can not come any better than this as s "take over candidate".

Imagine "off label use" will be very common in all kind of ILD at any level of severity.

All IMO,
GLTA

$ITMN DD Notes ~ http://www.ddnotesmaker.com/ITMN

bullish 70-90% gain on margin in a month or two
larger companies



$ITMN recent news/filings

## source: finance.yahoo.com

Sun, 06 Jul 2014 13:32:24 GMT ~ The 5 Best Healthcare Stocks so Far in 2014


read full: http://www.fool.com/investing/general/2014/07/06/the-5-best-healthcare-stocks-so-far-in-2014.aspx?source=eogyholnk0000001
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Thu, 03 Jul 2014 21:16:00 GMT ~ Nasdaq stocks posting largest volume increases


read full: http://sg.finance.yahoo.com/news/nasdaq-stocks-posting-largest-volume-220410239--finance.html
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Thu, 03 Jul 2014 10:01:59 GMT ~ INTERMUNE INC Files SEC form 8-K, Regulation FD Disclosure


read full: http://biz.yahoo.com/e/140703/itmn8-k.html
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Wed, 02 Jul 2014 11:31:21 GMT ~ INTERMUNE INC Files SEC form 8-K, Unregistered Sale of Equity Securities


read full: http://biz.yahoo.com/e/140702/itmn8-k.html
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Wed, 25 Jun 2014 10:02:14 GMT ~ INTERMUNE INC Files SEC form 8-K, Unregistered Sale of Equity Securities


read full: http://biz.yahoo.com/e/140625/itmn8-k.html
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$ITMN charts

## source: stockcharts.com



## source: eoddata.com


$ITMN company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/ITMN/company-info
Ticker: $ITMN
OTC Market Place: Not Available
CIK code: 0001087432
Company name: InterMune, Inc.
Company website: http://www.intermune.com
Incorporated In: DE, USA


$ITMN share structure

## source: otcmarkets.com

Market Value: $4,344,924,996 a/o Jul 14, 2014
Shares Outstanding: 98,883,136 a/o Apr 15, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.001
$ITMN extra dd links

Company name: InterMune, Inc.
Company website: http://www.intermune.com
Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001087432&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/ITMN/filings
Latest financials: http://www.otcmarkets.com/stock/ITMN/financials
Latest news: http://www.otcmarkets.com/stock/ITMN/news - http://finance.yahoo.com/q/h?s=ITMN+Headlines

Major holdings: http://data.cnbc.com/quotes/ITMN/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=ITMN+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/ITMN.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=ITMN

RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=ITMN&search=search

DTCC: http://search2.dtcc.com/?q=InterMune%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=InterMune%2C+Inc.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=InterMune%2C+Inc.&x=0&y=0
WHOIS: http://whois.domaintools.com/http://www.intermune.com
Alexa: http://www.alexa.com/siteinfo/http://www.intermune.com#
Corporate website internet archive: http://web.archive.org/web/*/http://www.intermune.com

Short Sales: http://www.otcmarkets.com/stock/ITMN/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/ITMN/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/ITMN/research
Historical Prices: http://finance.yahoo.com/q/hp?s=ITMN+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=ITMN+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=ITMN+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=ITMN+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=ITMN+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=ITMN+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=ITMN
Balance Sheet: http://finance.yahoo.com/q/bs?s=ITMN
Cash Flow: http://finance.yahoo.com/q/cf?s=ITMN+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/ITMN
Bloomberg: http://www.bloomberg.com/quote/ITMN:US
Morningstar: http://quotes.morningstar.com/stock/s?t=ITMN
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=ITMN
Barchart: http://www.barchart.com/quotes/stocks/ITMN
OTC Short Report: http://otcshortreport.com/index.php?index=ITMN
Investopedia: http://www.investopedia.com/markets/stocks/ITMN/?wa=0

http://www.pennystocktweets.com/stocks/profile/ITMN



$ITMN DD Notes ~ http://www.ddnotesmaker.com/ITMN
a11k

With all the exercising of conversion privileges recently, it sounds more and more like ITMN management is setting up for a buyout. Having a cleaner balance sheet makes for a cleaner offer with fewer conditions. All is just IMHO. AS my tagline says, I know nothing.

My WAG is that there will be a buyout at somewhere between $60 and $70. Of course, after the pop when some study results were released it did dip below $25 before more buy recommendations were issued. The larger firms which could do the buyout are clearly more interested in the US market, with higher drug prices, than in Europe, where I think the traction for Esbriet is real.

No idea how soon the FDA will act and no idea which estimates of the patient population are more accurate. My guess is they are using differing definitions with a lot of assumptions.

What I do think is that the potential gain for a buyout - percentage-wise - is less than the pop we had on study results.

UBS says 2 B +high margin.
Likely to be standard of care for IPF.

ITMN valuation. please help.

Lisa Bayko at JMP has the highest TP $55 and sales estimate at peak being $750 mil. Current MC of ITMN is $4.4 billion. Yet no one says it's too lofty at current level.

My biggest confusion is the prevalence of IPF.
Everybody is using different numbers.
When Mr.Dan Welch presented at JMP in 2013, he quoted the prevalence in U.S. as 130,000 to 170,000.
IPF foundation says 130 to 500,000.
ITMN website says 500 to 700,000 which is 4 times higher from just a year ago in the U.S., not worldwide.

The rollout outside U.S. has been very slow. Soon it's going to be 3 years since Esbriet marketing started. The estimated sales in non U.S. market this year is $130 to $140 million per C.C. guideline.

Pricing in EU was 33k to 47k per patient per year. Even if ITMN achieves pricing higher than $60k, how much upside potential in share price I can expect? Is the market ready to assign a couple billion dollars for SScd?

TIA
I have been following ITMN since the era of Actimmune, but with very painful memories. Hope no strike out this time.

That's why I was torn on how to describe it. Certainly, it's better to have the equity than debt, but the debt could have been reasonably expected to be converted anyway, assuming things didn't fall apart.

They had convertible debt from a prior offering that didn't mature until 2017. They came to terms with some of the debt holders to convert early since the stock was well in the money (they converted at 12.77). Not unusual in fact I am pretty sure they even did something similar many years ago my first time as a shareholder.

Why would any transaction at or near market price be considered "dilutive"?

Sounds to me like they just spruced up the balance sheet by placing shares at market price. The debt was there - it isn't now, and the price of the stock was not compromised.

I don't know whether to view this as having improved the debt ratio on the balance sheet or as just having had a dilutive financing. Probably both.

Unregistered Sale of Equity Securities


Item 3.02. Unregistered Sales of Equity Securities.

On June 19, 2014, InterMune, Inc. (the "Company") agreed through separately negotiated private transactions with certain existing holders of the Company's 2.50% Convertible Senior Notes due 2017 (the "2017 Notes") to exchange $43,099,000 in aggregate principal amount of 2017 Notes beneficially owned by the noteholders for an aggregate of 3,378,457 shares of the Company's common stock (the "Exchange Shares"), valued at $47.22 per share, plus accrued but unpaid interest on the exchanged 2017 Notes up to, but excluding the exchange settlement date. The notes are to be exchanged at a rate of 78.3884 shares per $1,000 note, which represents an exchange price of approximately $12.77 per share and an approximately $0.10 discount from the original conversion price of the 2017 Notes of $12.87 per share.

The Company expects to have issued all of the Exchange Shares by June 25, 2014. Upon the closing of these separate transactions and retirement of the exchanged 2017 Notes, $77,651,000 of 2017 Notes will remain outstanding.

As the Exchange Shares were exchanged by the Company through a private transaction with the holders, each of which are accredited investors, the transaction was exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the provisions of Section 4(a)(2) thereof. No sales of securities of the same class as the 2017 Notes or the Exchange Shares have been or are to be made by the Company by or through an underwriter at or about the same time as the exchanges for which the exemption is claimed. The Company will not receive any proceeds from the issuance of the Exchange Shares.

Thanks for the detailed itmn info stocktrademan. Looks like 1st quarter 2015 will be the tell tale mark for FDA approval. IMO, like in all Intermune good news instances, the market will respond immeasurably well to launching pirfenidone in the U.S. Habityho! GLTA and trade well

[$ITMN] bullish target 50s, gapped up, inverted head and shoulders in the flag pattern

$ITMN

DD Notes ~ http://www.ddnotesmaker.com/ITMN

##### recent news/filings ~ source: finance.yahoo.com

Sat, 24 May 2014 16:06:17 GMT ~ This Week in Biotech: PTC Therapeutics Surprises, Isis' Data Dazzles, and Provectus Sinks
read full: http://www.fool.com/investing/general/2014/05/24/this-week-in-biotech-ptc-therapeutics-surprise-isi.aspx?source=eogyholnk0000001
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Fri, 23 May 2014 22:05:46 GMT ~ Nasdaq stocks posting largest volume increases
read full: http://sg.finance.yahoo.com/news/nasdaq-stocks-posting-largest-volume-220410239--finance.html
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Fri, 23 May 2014 15:00:21 GMT ~ Options with decreasing implied volatility
read full: http://www.theflyonthewall.com/permalinks/entry.php/KERX;NSR;ITMN;WWE;WUBA;ARUN;SHLD;DTVid2015767/KERX;NSR;ITMN;WWE;WUBA;ARUN;SHLD;DTV-Options-with-decreasing-implied-volatility
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Thu, 22 May 2014 22:16:38 GMT ~ Despite sector woes, this biotech surging: Cramer
read full: http://www.cnbc.com/id/101698938?__source=yahoo%257cfinance%257cheadline%257cheadline%257cstory&par=yahoo&doc=101698938%257cDespite+sector+woes,+this
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Wed, 21 May 2014 20:05:02 GMT ~ Additional Data on InterMune's Esbriet
read full: http://finance.yahoo.com/news/additional-data-intermunes-esbriet-200502679.html
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##### chart ~ source: stockcharts.com



##### chart ~ source: eoddata.com



##### company info ~ source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/ITMN/company-info
Ticker: $ITMN
OTC Market Place: Not Available
CIK code: 0001087432
Company name: InterMune, Inc.
Company website: http://www.intermune.com
Incorporated In: DE, USA

##### extra dd links

Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001087432&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/ITMN/filings
Latest financials: http://www.otcmarkets.com/stock/ITMN/financials
Latest news: http://www.otcmarkets.com/stock/ITMN/news - http://finance.yahoo.com/q/h?s=ITMN+Headlines

Major holdings: http://data.cnbc.com/quotes/ITMN/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=ITMN+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/ITMN.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=ITMN

RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=ITMN&search=search

DTCC: http://search2.dtcc.com/?q=InterMune%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=InterMune%2C+Inc.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=InterMune%2C+Inc.&x=0&y=0
WHOIS: http://whois.domaintools.com/http://www.intermune.com
Alexa: http://www.alexa.com/siteinfo/http://www.intermune.com#
Corporate website internet archive: http://web.archive.org/web/*/http://www.intermune.com

Short Sales: http://www.otcmarkets.com/stock/ITMN/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/ITMN/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/ITMN/research
Historical Prices: http://finance.yahoo.com/q/hp?s=ITMN+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=ITMN+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=ITMN+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=ITMN+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=ITMN+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=ITMN+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=ITMN
Balance Sheet: http://finance.yahoo.com/q/bs?s=ITMN
Cash Flow: http://finance.yahoo.com/q/cf?s=ITMN+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/ITMN
Bloomberg: http://www.bloomberg.com/quote/ITMN:US
Morningstar: http://quotes.morningstar.com/stock/s?t=ITMN
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=ITMN
Barchart: http://www.barchart.com/quotes/stocks/ITMN
OTC Short Report: http://otcshortreport.com/index.php?index=ITMN
Investopedia: http://www.investopedia.com/markets/stocks/ITMN/?wa=0

http://www.pennystocktweets.com/stocks/profile/ITMN

##### last known share structure ~ source: otcmarkets.com

Market Value: $3,953,347,777 a/o May 23, 2014
Shares Outstanding: 98,883,136 a/o Apr 15, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.001

##### business description ~ source: otcmarkets.com



DD Notes ~ http://www.ddnotesmaker.com/ITMN

$40; 3 yr high. Rumors sound good

Takeover speculation on Betaville:

http://betaville123.blogspot.co.uk/2014/04/another-day-another-multibillion-pharma.html

Monday, 28 April 2014
Another day, another multibillion dollar pharma deal....
Wow - today's news about Pfizer formally launching its $100 billion takeover bid for AstraZeneca has sent the pharmacuetical sector rumour mill into overdrive.

One company that is getting a lot of attention in European markets is US-based InterMune, a biotechnology business focused on the research and development of therapies in pulmonology and fibrotic diseases.

Parky over at the The Times picked up on some InterMune speculation in his market report last Friday after Reuters reported in March several mystery parties had been running their "slide rules" over the business. Here is a link to the original Reuters article: http://www.reuters.com/article/2014/03/07/us-intermune-deal-idUSBREA2617G20140307

I understand the InterMune gossip is broadly correct. My sources tell me a few European pharmaceutical companies have been taking a look at InterMune, including Switzerland-based Actelion.

Actelion is said to have expressed an interest in buying InterMune a few weeks ago and lined up between $3 billion and $4 billion in financing from several banks, including the likes of JP Morgan, according to my sources. Actelion declined to comment on the speculation.

Other pharmaceutical companies studying InterMune, which is normally advised by Goldman Sachs, are said to include France's Sanofi, according to sources. Sanofi declined to comment on the speculation.

Novartis and Roche, two Switzerland-based pharmaceutical giants, have also been mentioned in some quarters as a potential bidders for InterMune but I don't have any sources that can corroborate whether these companies have a firm interest.

Don't, though, get too excited. Although InterMune may get bought for a significant premium, Betaville readers should be aware a deal is by no means a certainty and still several weeks, if not months, away, say my sources familiar with the matter.

Elsewhere in the sector, Reuters was reporting this evening that Allergan is set to make a fresh multi-billion pound approach for London-listed Shire in the next few days after holding talks earlier this year.

Allergan is the US-based botox producer that is fending off a $47 billion hostile approach from Valeant Pharmaceuticals and US activist investor Bill Ackman.

Here is a link to the Reuters article: http://www.reuters.com/article/2014/04/28/us-shire-allergan-exclusive-idUSBREA3R16Y20140428

An InterMune spokesperson declined to comment.

UPDATE: Some excellent sources have been in contact this morning to provide an update to the InterMune situation. I don't want observers to get too excited by this potential deal as I understand that it is extremely "early days".

Indeed, I have been told that Actelion and Sanofi have not yet submitted formal indicative offers for InterMune and may decide not to pursue a transaction.

Back over $29.

Not pretty price action today. Broke downward thru $30, after 2pm. We'llsee where it goes.

Motley Fool article on ITMN:

http://www.fool.com/investing/general/2014/03/21/why-intermune-inc-shares-jumped.aspx
which cites
https://cms.psav.com/cPaper2012/myitinerary/session-9738.html?congress=ats2014#.UywyQnIMFGg.twitter

Why InterMune Inc. Shares Jumped

By Sean Williams March 21, 2014

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of InterMune (NASDAQ: ITMN), a biopharmaceutical company focused on developing therapies to treat orphan fibrotic diseases, jumped as much as 17% after privately held rival Boehringer Ingelheim unveiled results from its two late-stage studies involving nintedanib as a treatment for idiopathic pulmonary fibrosis, or IPF.

So what: According to an abstract posted to the website of the American Thoracic Society (the 3:25 p.m. time slot for those interested), Boehringer Ingelheim's nintedanib hit its primary endpoint of significantly reducing the annual rate of decline in forced vital capacity in both its INPULSIS-1 and INPULSIS-2 studies. It also delivered a similar safety profile relative to the control arm. But the INPULSIS-1 study failed to meet a key secondary endpoint of improving overall health and reducing flare-ups of the disease. Investors have taken this minor shortfall as a reason to believe that InterMune's Esbriet (known also as pirfenidone) might therefore be the first-in-line and/or superior therapy of the two.

Now what: This could ultimately wind up being exciting news for InterMune, but this is merely an abstract and we don't have the full data set to even try and attempt to compare the two IPF therapies as of yet. Until we have that data it's probably best to hold off on declaring InterMune's Esbriet the king of the jungle. In addition, based on a wide range of peak sales estimates, with InterMune currently valued at anywhere from three to 10 times global peak sales estimates of Esbriet, I would suggest shareholders remain cautious as there could be more downside potential built into its shares than upside at this point.

ITMN up on bad news for competitor

http://www.reuters.com/article/2014/03/21/us-intermune-stocks-idUSBREA2K14Y20140321

InterMune shares jump as Boehringer's rival drug shows mixed results

BANGALORE Fri Mar 21, 2014 10:27am EDT

(Reuters) - Shares of InterMune Inc rose as much as 17 percent on Friday after data showed German drugmaker Boehringer Ingleheim's rival drug had mixed results in late-stage trials.

Data from two late-stage trials of Boehringer's nintedanib showed the drug improved patients' lung function, but one trial fell short of meeting its key secondary goals of improving overall health and delaying a disease flare up.

Nintedanib and InterMune's pirfenidone are aimed at treating idiopathic pulmonary fibrosis (IPF) — an irreversible condition that leads to progressive loss of lung function due to scarring, which hinders a lung's ability to absorb oxygen.

InterMune recently completed a late-stage trial of pirfenidone, which showed that after a year of treatment 16.5 percent of patients taking the drug experienced disease progression, around half the level of those using a placebo.

Pirfenidone is already in use in Europe, Canada and Asia and is marketed as Esbriet.

"We believe based on both studies hitting their primary endpoints that nintedanib could very well be approved... we believe most patients will likely cycle through both drugs sequentially such that there could be a $1 billion opportunity for Esbriet even splitting the market," Wells Fargo Securities analyst Brian Abrahams wrote in a note.

Data from the two Boehringer trials was published on Friday, as part of an industry conference. (link.reuters.com/kew77v)

InterMune shares were up 11 percent at $36.42 in morning trade on the Nasdaq on Friday. They touched a high of $38.29 earlier in the session.

(Reporting by Esha Dey in Bangalore; Editing by Simon Jennings)

ITMN completes sale of shares. I expect the price will drift upward for now. BWTFDIK

Form 8-K for INTERMUNE INC

19-Mar-2014

Other Events


Item 8.01 Other Events.

On March 19, 2014, InterMune, Inc. (the "Company") completed the sale and issuance of 8,625,000 shares (the "Shares") of its common stock, par value $0.001 ("Common Stock"), which includes the exercise in full of the underwriters' option to purchase 1,125,000 additional shares of the Company's Common Stock granted under the Company's Underwriting Agreement, dated March 13, 2014, entered into with Goldman, Sachs & Co. and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein. The net proceeds to the Company from the sale of the Shares was approximately $268.0 million, after deducting underwriting discounts and estimated offering expenses.

The Shares have been registered pursuant to the Company's automatic registration statement on Form S-3 (Registration Statement No. 333-176787) (the "Registration Statement") filed with the Securities and Exchange Commission (the "Commission"), including the prospectus supplement filed by the Company with the Commission, dated March 13, 2014 (the "Prospectus Supplement"), to the prospectus contained in the Registration Statement dated September 12, 2011.

In aftermarket trading, the price was down to $32.10. When the new shares get priced, the price will drop to approximate that. I am assuming the price will be lower than the current market.

Secondary offering of 7,500,000 shares by ITMN (extra 1,125,000 available):


InterMune Announces Proposed Public Offering of Common Stock
Wed March 12, 2014 4:02 PM|PR Newswire | About: ITMN


BRISBANE, Calif., March 12, 2014 /PRNewswire/ -- InterMune, Inc. (ITMN) today announced that it plans to offer, subject to market and other conditions, 7,500,000 shares of its common stock in an underwritten public offering. The company expects to grant the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock in connection with the offering. All of the shares in the offering will be sold by InterMune. The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) on Form S-3.

InterMune intends to use the net proceeds from the offering to fund the commercialization activities in anticipation of the potential commercial launch of Esbriet® (pirfenidone) in the United States and ongoing commercialization in Europe, to fund research and development programs with Esbriet and other compounds intended to address idiopathic pulmonary fibrosis (IPF) and other fibrotic diseases, and for general corporate purposes.

Goldman, Sachs & Co. and J. P. Morgan Securities LLC are acting as joint book-running managers of the proposed offering. The common stock offering will be conducted by means of a prospectus supplement filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (SEC) on Form S-3. Before investing in the offering, interested parties may read the prospectus supplement and the accompanying prospectus for such offering and the other documents InterMune has filed with the SEC (SCUR), which are incorporated by reference in the prospectus supplement and the accompanying prospectus and provide more complete information about InterMune and the offering. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from Goldman, Sachs & Co. (Attn: Prospectus Department, 200 West Street, New York, New York 10282, Fax: 212-902-9316 or Email at prospectus-ny@ny.email.gs.com or by calling 1-866-471-2526) or J.P. Morgan Securities LLC (c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling 866-803-9204). Electronic copies of the prospectus supplement may be obtained by visiting EDGAR on the SEC's website at http://www.sec.gov/.

There have been some price upgrades by investment banks but also stock sales by insiders after exercising options.

Link to the insider transactions:
http://www.secform4.com/insider-trading/1087432.htm

Forgot to post the links:

http://finance.yahoo.com/news/drugmaker-intermune-attracts-takeover-interest-162537647.html

http://www.thestreet.com/story/12521775/1/intermune-itmn-stock-with-unusual-social-activity.html?puc=yahoo&cm_ven=YAHOO

Story today was of rumors that larger firms are again speaking with ITMN about acquiring them, now that positive test results were released.

IMHO, given that no sources were named, it could well be rumors released by someone eager to sell their shares. No basis for this other than my gut.

New Article

http://wallstcheatsheet.com/business/intermune-surges-on-positive-lung-drug-data.html/?a=viewall

Nothing new here, if you've been keeping up with the news.

Today's article:
http://www.fool.com/investing/general/2014/02/28/intermune-stuns-markets-but-is-it-overvalued.aspx

From a SA news summary email I just received:

"Analysts chime in on InterMune • 3:34 PM

Maintaining a Neutral rating while raising the price target to $40, Goldman's Terence Flynn says yesterday's trial results should support U.S. approval in Q2 of 2015. He's raising the probability of approval to 100% from 30% and raising his estimate of peak market share to 50% from 30%, but not changing pricing or compliance assumptions. "We expect complete data to be presented at the ATS conference in May, where we also hope to gain insight on the competitive landscape with the potential presentation of Ph3 data from Boehringer Ingelheim's BIBF-1120."
Not convinced sales will be as large as the market is currently pricing in, Jefferies' Eun Yang maintains his Underperform rating while lifting the price target to $20. "Our new $20 PT is based on U.S./EU peak sales estimates of $650M/$300M, not a conservative assumption in our view."
Its work here done, Leerink Swan removes its Buy rating on the stock.
ITMN is giving back just a bit of yesterday's moonshot, -12.7% to $32.99."

@ someconcerns.. thx for the info ..