Nabi Biopharmaceuticals (NASDAQ:NABI) aims to buyback equal to $23 million of shares through a modified Dutch auction self-tender bid.
A tailored “Dutch auction” tender bid permits shareholders to show how many shares and at what price they wish to offer their stock.
The developer of nicotine addiction treatments reported that it would pay in the range of $1.58 to $1.72 per share in the self-tender offer planned to expire at midnight July 30.
Nabi Biopharmaceuticals shares ended on Friday at $1.58 and were inactive premarket. Shares are down 71% over the previous 12 months. Nabi Biopharmaceuticals had 42.9 million shares outstanding as of April 30.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Pfizer Inc. (NYSE:PFE) fell -0.02% to settle at $23.00, GlaxoSmithKline plc (ADR) (NYSE:GSK) moved up +1.73% to end at $46.36 while Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) jumped +0.94% to finish on Monday at $0.54.
Nabi Biopharmaceuticals (NASDAQ:NABI) last session volume of 503,085 shares was higher than its average volume of 500,698.00 shares. The stock after opening at $1.64 hit high price of $1.67 and then closed at $1.67 by scoring +5.70%.
NABI generated revenue of 6.30 million in the following twelve months and earned -$10.92 million. The Company showed a negative -173.42% in the net profit margin and as well as in its operating margin which remained -219.09%. Company’s quarterly sales growth was -93.11%.
The NABI past twelve months price to sales ratio was 11.37 and price to cash ratio remained 0.75. As far as the returns are concern, the NABI return on equity was recorded as -17.78% and dropped -11.51% return on investment while its return on asset stayed at -10.59%.
The stock showed weekly upbeat performance of +6.37% which was maintained for the month at +6.37%. Likewise the negative performance for the quarter was recorded as -11.17% and for the year was -69.24% while the YTD performance remained at -11.17%.
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