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Amgen to Acquire Micromet

publication date: Jan 26, 2012
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Amgen to Acquire Micromet (MITI)

 

There are a lot of exciting things going on with our stocks and with our investment thesis in currinBIOTECH.
 

The Roche/Illumina news is certainly one example and drove nice gains in our stocks when announced.  But the Amgen/Micromet news perhaps tops this in the short term. 
 

Micromet will be acquired by Amgen for $11 a share ($1.16 billion).  This represents about a 33% premium over the latest closing price.
 

More importantly the $11 mark delivers a nice overall position gain of 93% for a stock we added at $5.70.


The flagship Cell Signaling and Cancer Stem Cell portfolio will get another lift to its already stellar performance.  The since its launch roughly 18 months ago the portfolio has outperformed every investment newsletter portfolio tracked by The Hulbert Financial Digest.  This latest merger news for one of the seven stocks in the portfolio should widen the range of that outperformance even more.

 

We view the platform being developed by Curis (CRIS) as one that will be similarly coveted in the small molecule space.  For more information on this see Curis and the Swiss Army Knife.