Sign in with Google. Opens in new tab
bullish

Pdl Biopharma

PDL BioPharma - Evofem shares distributed and Phexxi approved

220 Views27 May 2020 11:04
Issuer-paid
SUMMARY

PDL distributed its 26.7% Evofem stake to shareholders on 21 May 2020, just before the 22 May 2020 FDA approval for Evofem’s hormone-free contraceptive gel, Phexxi (the PDUFA date was 25 May). The timing of the distribution allowed investors the ability to decide whether or not to hold through the PDUFA and also provided a liquidity event to sell shares, if desired. Additionally, there will be a virtual shareholder meeting on July 16, 2020 at which shareholders will vote on the dissolution plan for the company. Ultimately, PDL believes that shareholders will receive between $3.00 and $6.00 per share once assets (including Evofem) are fully monetized.

Related Insights
More »
    Loading
Trending Collections
More »
    Loading
Trending Insights
More »
    Loading
Top Unpaywalled Insights
More »
    Loading
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
  • Unlock research summaries
  • Follow top, independent analysts
  • Receive personalised alerts
  • Access Analytics, Events and more

Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.

Upgrade later to our paid plans for full-access.

or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
chart-bar
Logo
Edison Investment Research
Leading International Investment Research
Equities
Price Chart(Sign Up to Access)
analytics-chart
  • PDL BioPharma - Evofem shares distributed and Phexxi approved
    27 May 2020
x