The drugmaker needs as much potential revenue as it can acquire at a reasonable price.
Indaba Capital wants a board “refresh” at benefits-management software firm Benefitfocus. Magnetar Capital disclosed a large stake in biopharmaceutical firm Prime Therapeutics.
The biotech firm is building its pipeline by adding an experimental drug that could compete against Bristol Myers Squibb in treating deadly stomach cancers.
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Five Prime Therapeutics, Inc (FPRX), where a total volume of 34,643 contracts has been traded thus far today, a contract volume which is representative of approximately 3.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 413.9% of FPRX's average daily trading volume over the past month, of 836,980 shares..
The big biotech wants to bolster its late-stage pipeline with a potential new stomach cancer treatment.