DALLAS, Sept. 14, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring Facet Biotech Corp. (Nasdaq:FACT). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Facet Biotech Corp. (Nasdaq:FACT) should be of particular interest to other comparable companies: Biogen Idec Inc. (Nasdaq:BIIB), Trubion Pharmaceuticals Inc. (Nasdaq:TRBN), Roche Holding Ltd. (Pink Sheets:RHHBY) and Seattle Genetics Inc. (Nasdaq:SGEN).
It is available at: http://www.beaconequity.com/i/FACT
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Facet Biotech Corp. (FACT) is a biotechnology company that identifies and develops oncology therapeutics. In addition to developing its clinical-stage products, the Company focuses on leveraging its research and development capabilities to identify and develop new oncology drugs and applying its proprietary next-generation protein engineering technologies to improve the clinical performance of protein therapeutics.
In the report, the analyst notes:
"On September 8, 2009, FACT rejected an unsolicited takeover bid from BIIB for $356 million, stating that the offer was 'inadequate.' BIIB offered to pay the Company $14.50 a share on September 4, 2009, a 64% premium over the market price.
"On August 3, 2009, FACT announced that, along with its partner BIIB, it would continue planning for the phase III trial of Daclizumab in multiple sclerosis (MS). FACT and BIIB expect to initiate the trial during the first half of 2010. FACT also plans to request an assessment from the U.S. Food and Drug Administration (FDA) that the trial meets the organization's approval. According to some estimates, milestone payments from BIIB to FACT related to the phase III trial could be as high as $200 million."
To read the entire report visit: http://www.beaconequity.com/i/FACT
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