# CXS - Chemgenex Phamaceuticals



## Amarillo Slim (28 May 2006)

Hey guys,

Does anyone have any thoughts/ideas/opinions on this stock. It's entered late stage clinical trials for one of it's drugs and seems to have some decent backers. It's also featured in the current BRW on page 21. Has anyone else had a look?

Cheers...AS


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## Deadcat (15 March 2007)

ABN Amro has this one at a price target of 91c.  Anyone have some dollars invested in this?  Apparently Phase II results were positive for treatment of chronic myeloid leaukemia.


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## Deadcat (22 March 2007)

Results due 2nd quarter for trial phase II of drug for treatment of solid cancerous tumors.  50 patients partaking in trial.  Very interested in results.


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## maverick11 (25 May 2009)

With upcoming results, I expect this one to heat up soon.

$21m in the bank and excellent management - several large brokers are recommending a buy.


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## mitch87 (29 May 2009)

results arent far away and this stock is set for a nice little rise if they come through with the goods. Just one thing to note, some rather large trades going through the last few days, at 10.49am today was one example, not sure what this means, good or bad.


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## alex90 (1 June 2009)

Im thinking of buying in big tomorow in anticipation of the expected positive results. What are your thoughts? Have I missed the boat already?
cheers


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## Glen48 (2 July 2009)

This week Courier Mail 1/07 reports more positive trials and expect it to reach 75c now at 4/55 and tells reports so far have been promising and doing better than other alternative drugs...


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## matty193 (10 September 2009)

Submission made to the FDA reported in the Herald Sun today.

http://www.heraldsun.com.au/business/geelong-biotech-chemgenex-in-cancer-drug-first/story-e6frfh4f-1225771414522

Promising news. Any thoughts on this one?


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## suhm (27 September 2009)

I can't seem to find the trial results they are basing the NDA with the FDA on. Anyone able to help me out?


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## Purple XS2 (6 December 2009)

suhm said:


> I can't seem to find the trial results they are basing the NDA with the FDA on. Anyone able to help me out?




I imagine there'll be an announcement to the ASX early Monday (tomorrow), in light of the fact that there's coverage of results in Bloomberg, in a report on the release of results to a conference in New Orleans, timestamped "December 5, 2009 09:30 EST" (USA), which makes it early this morning, Aust-EST.
The report begins:
_ChemGenex Pharmaceuticals Ltd., an unprofitable Australian drugmaker, said its experimental leukemia drug cleared the disease in 86 percent of patients, confirming results under review by U.S. and European regulators. _
so it sounds good. Pity I don't hold, though I might - depends if the share price goes silly.

Have to love their description though: "an unprofitable Australian drugmaker ..."

Regards,
P.


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## Go Nuke (18 December 2009)

Gee the share price is having trouble making any headway with all the profit takers 

For once I'd like to own a stock that goes UP..not down.


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## Go Nuke (22 January 2010)

Gee I like it how the big seller at .975 always disappears by the close each day.
Now we have a road block, scare tactic at .985c!

Bigger buyers flexing muscle to shake out weak sellers prior to the FDA ruling.....
or perhaps Orbis are offloading more.

Guess someone can see an oppertunity opening elsewhere and have acheived their target with CXS and are now exiting.

Happy to know there are others to buy up.

I did read somewhere that to offload a decent about, sell into announcements when the buyers come out.
Good average I guess.

Now all i need is the millions of dollars to do the same


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## Go Nuke (27 January 2010)

Gee anyone who says a stocks share price isn't "manipulated" is full of crap imo

Watching the close today....a buy order came in and withing SECONDS a sell order came in with 1 extra share to hold the price down.

The buy order changed again and whata ya know...the sell order changed by 1 to suit.

Absolute bs that a company can have its share price manipulated!


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## bilo83 (9 February 2010)

CXS is getting smoked because of the FDA comments.

Does the FDA usually come out like that before the panel recommendation?


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## Vulture (5 April 2010)

It is interesting that everyone seems to be caught up in the FDA'a comments to Chemgenex regarding the drug testing not firstly identifying the test subjects with the genetic mutation first. 

What about the point that the drug worked on both test subjects with the mutation and those without. 

I have picked up CXS after this lovely little market crash and IMO will profit nicely (alas i may need to wait 4 - 6 weeks) but that won't bother me when i'm counting the .


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## voigtstr (14 July 2010)

Thirty three percent jump today after a company announcement. A thirty three percent jump four months after a fifty percent drop may be small comfort.  I'm hoping there is more positive news to come...

Is 70 cents an unrealistic target at this stage?


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## voigtstr (8 March 2011)

voigtstr said:


> Thirty three percent jump today after a company announcement. A thirty three percent jump four months after a fifty percent drop may be small comfort.  I'm hoping there is more positive news to come...
> 
> Is 70 cents an unrealistic target at this stage?




Yes, apparently it was. For what its worth I'm holding a small parcel of CXS.


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## voigtstr (29 March 2011)

ok, theres a takeover bid at 70cents a share... is there likely to be an option where they pay us out, or do we have to hold the U.S. shares?


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## skc (29 March 2011)

voigtstr said:


> ok, theres a takeover bid at 70cents a share... is there likely to be an option where they pay us out, or do we have to hold the U.S. shares?




I think it's a cash offer.


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## voigtstr (1 April 2011)

Can someone explain to me why, after an offer is made at 70 cents by Cephalon, the stock is falling away over the last few days. 

disclosure: yes I own some CXS


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## Miner (1 April 2011)

voigtstr said:


> Can someone explain to me why, after an offer is made at 70 cents by Cephalon, the stock is falling away over the last few days.
> 
> disclosure: yes I own some CXS




I do not hold CXS.
But your question intrigued to look into the company from ASX
Only couple of days back the company's directors have  sold some 44 M shares. So they have started unloading the shares - a deal done.
Once the deal is done, there is little value for others to stick around to be bought.
It is similar to share issued to sophisticated investors and then many a times share price falls

The existing shareholders saw the boom by 54% in a day's time. I would not be worried if I had the holding 

DYOR


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## voigtstr (2 April 2011)

Miner said:


> I do not hold CXS.
> But your question intrigued to look into the company from ASX
> Only couple of days back the company's directors have  sold some 44 M shares. So they have started unloading the shares - a deal done.
> Once the deal is done, there is little value for others to stick around to be bought.
> ...




ah ok, cool. Since I have some of these shares I should get paid out at 70 cents per share, would that go straight to commsec or would I get some mail from chemgenex asking me where the funds should go?


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## McCoy Pauley (3 April 2011)

voigtstr said:


> Can someone explain to me why, after an offer is made at 70 cents by Cephalon, the stock is falling away over the last few days.
> 
> disclosure: yes I own some CXS




Cephalon received an unsolicited takeover offer shortly after the takeover offer for CXS was announced.  It's seen by the expert commentators that CXS would not be an essential part of the predator's business and so the takeover of CXS might not proceed after all.


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## voigtstr (3 April 2011)

McCoy Pauley said:


> Cephalon received an unsolicited takeover offer shortly after the takeover offer for CXS was announced.  It's seen by the expert commentators that CXS would not be an essential part of the predator's business and so the takeover of CXS might not proceed after all.




"MELBOURNE, Australia, and MENLO PARK, California U.S.A. (30 March 2011). ChemGenex Pharmaceuticals Limited (ASX: CXS) (ChemGenex) has today become aware that Valeant Pharmaceuticals International, Inc. (Valeant) has proposed a takeover offer in respect of Cephalon, Inc.

Cephalon, Inc., through its wholly owned subsidiary Cephalon CXS Holdings Pty Ltd (Cephalon), announced a takeover offer in respect of all of the issued capital of ChemGenex on 29 March 2011.
Under section 631 of the Corporations Act 2001 (Cth), Cephalon is obliged to make offers to ChemGenex shareholders within 2 months.

There is nothing in the bid conditions announced on 29 March 2011 which allows Cephalon to terminate its offer because of a change of control in respect of Cephalon, Inc.

ChemGenex will update the market where it becomes aware of any matters which may have a material impact on Cephalon’s takeover offer in respect of ChemGenex."

Don't they still have to pay us 70 cents a share?


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## skc (13 April 2011)

Can someone enlighten me on this...

CXS has a takeover offer of 70c that is under a cloud so the shares are trading at 60c - fair enough.

CXSOA are the options with exercise price of 68c, expiry 8 Feb 2012. The offer for these options from what I understand is 2c.

So why on earth would CXSOA closes today at 14c? By the look of the course of sale one bloke spent $80K or so buying it up from 7.5c.

Shouldn't they trade at 1.5c or something like that? Or have I missed something completely


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## skc (20 April 2011)

skc said:


> Can someone enlighten me on this...
> 
> CXS has a takeover offer of 70c that is under a cloud so the shares are trading at 60c - fair enough.
> 
> ...




And someone keeps buying CXSOA. Now 35c  

I can think of 3 possible reasons...

1. The buyer read the takeover offer wrong, or had no idea what options are and how they work, and thought the takeover offer was 70c for the option.

2. The buyer had a huge position in the underlying CXS and buy pulling the CXSOA price up it creates some illusion that someone knows something about the takeover deal.

3. The buyer is crazy.

I will say 3) seemed most likely.


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## suhm (20 April 2011)

4. The buyer and seller may be related parties cycling money to create a cap gain in an untaxed environment i.e. a pension phase smsf and a capital loss in a taxed entity i.e. an individual. high risk strategy though


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## skc (20 April 2011)

suhm said:


> 4. The buyer and seller may be related parties cycling money to create a cap gain in an untaxed environment i.e. a pension phase smsf and a capital loss in a taxed entity i.e. an individual. high risk strategy though




How?


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## Country Lad (20 April 2011)

> 1. The buyer read the takeover offer wrong, or had no idea what options are and how they work, and thought the takeover offer was 70c for the option.




Unlikely as all the buying has been by Bell Potter and they would be advising their client if this were the case.



> 2. The buyer had a huge position in the underlying CXS and buy pulling the CXSOA price up it creates some illusion that someone knows something about the takeover deal.




Rather an expensive way not to make a point.  The buyer has acquired over a million at a cost of over $135,000.



> 3. The buyer is crazy.




See 1 above



> 4. The buyer and seller may be related parties cycling money to create a cap gain in an untaxed environment i.e. a pension phase smsf and a capital loss in a taxed entity i.e. an individual. high risk strategy though




That was the first thing I thought of, but then he would want to buy only his own options and there have been 9 different brokers on the sell side and no crosses.  In fact Bell Potter has not been on both sides of the trade at all.

Cheers
CL


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## skc (20 April 2011)

Country Lad said:


> Unlikely as all the buying has been by Bell Potter and they would be advising their client if this were the case.




When you say Bell Potter is that the broker buying on their own account? Or could be someone who has a discount Bell Potter trading account?



Country Lad said:


> Rather an expensive way not to make a point.  The buyer has acquired over a million at a cost of over $135,000.




I suppose the CXS underlying has gone from 60c to ~66c so to off set $135K outlay the option buyer needed to have got ~2.25m shares to breakeven. That kind of volume isn't ridiculus, but the notion that someone would do that is. 



Country Lad said:


> See 1 above




Still the most 'logical' answer, unless 1 being true.



Country Lad said:


> That was the first thing I thought of, but then he would want to buy only his own options and there have been 9 different brokers on the sell side and no crosses.  In fact Bell Potter has not been on both sides of the trade at all.




They were on-market buys from what I can see. And surely the tax office can't let you transfer holdings like that at 15x what the market value should be?!

5. Someone wants to build a position to influence the takeover outcome but they are not allowed to buy the underlying for whatever reason.

Such a mystery...


P.S. BTW where do you get the broker information from?


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## skyQuake (20 April 2011)

After T+3 you can sell which broker was doing the buying and selling - im seeing it thru desktop iress.

I think the oppie buying was to build a stake large enough to defeat a condition in the takeover. A cheap way to block the t/o


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## Country Lad (20 April 2011)

skc said:


> When you say Bell Potter is that the broker buying on their own account? Or could be someone who has a discount Bell Potter trading account?




It is Bell Potter, not Bell Direct.  I would assume it is on behalf of a client who could be anybody, including the bidder.



skc said:


> 5. Someone wants to build a position to influence the takeover outcome but they are not allowed to buy the underlying for whatever reason.




Hardly an influence.  I assume the option holders will not have a vote and would need to exercise the options to be able to do so.  The directors are recommending acceptance so Cephalon will already have 62% interest in the shares and 80% of the options.

Cheers
CL


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## skc (21 April 2011)

Some speculations in the media.



> ChemGenex (CXS) 65.5c
> 
> WOULD you pay 35c for scrip almost guaranteed to be worth only 2c in a few weeks? Well, someone is willing to do just that, snapping up listed options in the leukemia drug developer ahead of an expected friendly takeover by US group Cephalon.
> 
> ...




http://www.theaustralian.com.au/bus...ore-war-heats-up/story-e6frg9lo-1226042428831


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