Savient Pharma (SVNT) Bouncing Around On Conference Call Comments
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After trading lower on initial comment that it won't discuss the sales process, shares of Savient Pharmaceuticals (Nasdaq: SVNT) have bounced back on comments suggesting that it has enough funds to launch KRYSTEXXA and that the patient population is larger than what is being modeled.
After dropping 44 percent yesterday, on news that it would not be sold, trading in the name is still very volatile.
It should be noted that shares were trading at $14.76 when the company announced KRYSTEXXA approval on 9/14, which set the M&A speculation into overdrive --- currently at $12.20.
After dropping 44 percent yesterday, on news that it would not be sold, trading in the name is still very volatile.
It should be noted that shares were trading at $14.76 when the company announced KRYSTEXXA approval on 9/14, which set the M&A speculation into overdrive --- currently at $12.20.
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