May. 30 at 2:45 PM
$SPRO 3 weeks until the AGM on June 23. Who is voting yes on Proposal 4 without knowing any details why the company is requesting 120 million additional shares (except for boilerplate language in the proxy)?
Recall:
$GSK entered into out-license for non-blockbuster drug Lynavoy with AlfaSigma on Monday, March 9 with Italian pharma AlfaSigma. PDUFA date was March 24 (15 days after deal announced). Deal was
$300 million upfront,
$100 million on FDA approval,
$20 million for European approval,
$270 million milestones and royalties on worldwide sales. I believe lynavoy was estimated to be about
$500 million peak sales and outside GSK core focus.
On Monday June 1, we will be 17 days from tebi PDUFA date (and 22 days from SPRO AGM).
Next week is the Jeffries Healthcare Conference (Tuesday June 2 is dedicated for private companies, 1x1s, no public presentations; June 3 GSK head of oncology presents)
The trading action this week eerily similar to
$GSKY in September 2021. Could be nothing, or...
