Before Optimer Pharmaceuticals Inc even put itself up for sale earlier this year, Cubist Pharmaceuticals Inc offered to purchase the antibiotic maker for $20 per share, or nearly $1 billion, two people familiar with the matter told Reuters on Wednesday.The Cubist offer, which was made last summer and rejected, according to the people, would have represented a premium from the company's then share price of around $15 per share. The stock currently trades at more than $16 per share.Optimer's stock closed Wednesday at $16.18, up almost 14 percent for the day on the news.Cubist, which has a market value of just over $3 billion, is among a handful of participants in the sale, the people said. They asked not to be named because details of the auction are not public.
Cubist Pharmaceuticals, Inc. (Cubist) is a biopharmaceutical company focused on the research, development and commercialization of therapies to treat serious medical conditions in acutely ill patients who are hospitalized or are being treated in other acute care settings. Shares of CBST fell by 0.46% or $-0.225/share to $48.54. In the past year, the shares have traded as low as $36.73 and as high as $49.86. On average, 739858 shares of CBST exchange hands on a given day and today's volume is recorded at 491011.
Optimer Pharmaceuticals, Inc. (Optimer) is a biopharmaceutical company focused on developing and commercializing hospital specialty products. Shares of OPTR traded higher by 13.54% or $1.93/share to $16.18. In the past year, the shares have traded as low as $8.64 and as high as $16.49. On average, 819574 shares of OPTR exchange hands on a given day and today's volume is recorded at 5327189.
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