KOSN

[Adam]

It is moving!!!

[3puttssuck]

I've never heard of them.

This took off Friday at 2:30 PM; finished with 5x volume and 2nd on NASDAQ gainers list.  Monday should be interesting.

Finished above the 200 day at $7.37 within striking distance of the 52 week high of $7.62.

Comments?

[Adam]

thisone is on the move again

[stocky]

day traded for quick 10% in may be under 10 min

This baby may have legs but I know nothin' about it. Just trying my reflexes.

[bocasva]

Nice cup and handle breakout with a target of around 7.10......

[bocasva]

I opened a position at 5 today.  I liked the low volume retrace back to the support zone; but will cut my loses short if it closes back below 5.

[bocasva]

Couldn't have asked for a better close.

[bocasva]

With the Thanksgiving holiday I wasn't around to see KOSN close below 5. I will give it a little more room to breathe, I think 4.80 should provide near term support.

[bocasva]

Good. Back above 5

[bocasva]

Updating chart

[akam]

up 11% after news today with good vol.

6:05AM Kosan Biosciences announces license of motilin agonist program to Pfizer (KOSN) 4.88 : Co announces the establishment of a worldwide license agreement with Pfizer (PFE) for Kosan's motilin agonist program. The agreement includes Kosan's clinical candidate, KOS-2187 and related compounds. KOS-2187 has demonstrated improved gastric emptying in preclinical studies and may have therapeutic benefit in gastrointestinal diseases such as gastro- esophageal reflux disease, or diabetic gastroparesis.  Under the terms of the license agreement, the co and Pfizer will collaborate on filing of regulatory documents and initiation of a Phase 1 clinical trial of KOS-2187. Pfizer will be responsible for all development, regulatory and commercial activities related to the motilin agonist program. The co will receive an upfront payment of $12.5 mln and will be eligible to receive up to $250 mln for the successful development and commercialization of KOS-2187 for one indication, as well as royalties on worldwide sales. This total value of up to $250 mln includes development milestone payments of up to $72.5 mln. Should Pfizer elect to develop KOS-2187 for a second indication or to develop other the co compounds within the licensed rights, additional development and commercial milestones may be payable to the co as well as royalties on worldwide sales of any licensed Kosan product.

[bocasva]

I got shaken out of this one last week with a small profit at 5.17.  I may give it a second try but will wait to see how it's going to close, love the volume.

[setravis]

Thursday, May 29, 2008 - 11:53 AM PDT
Kosan sold to Bristol-Myers Squibb for $190M

Kosan Biosciences Inc. has agreed to be acquired by Bristol-Myers Squibb Co. in a deal worth approximately $190 million, the companies said Thursday.

Shareholders of Kosan (NASDAQ:KOSN), a Hayward developer of cancer drugs, will receive $5.50 per share in cash under terms of the agreement.

"Kosan has evolved from a research platform to a development company, and we have reached a turning point in our growth as an independent company, stated Helen Kim, Kosan's president and CEO.

Jim Cornelius, CEO of Bristol-Myers Squibb, stated that Kosan's technology "coupled with our development and commercialization capabilities, will result in new treatment options for patients."

The deal's closing is subject to customary terms and conditions and expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvement Act.

As part of the companies' agreement, Kosan has also agreed not to solicit competing offers for the company.

[setravis]

Press Release Source: Bristol-Myers Squibb Company


Bristol-Myers Squibb Begins Tender Offer to Acquire Kosan Biosciences Inc.
Thursday May 29, 3:20 pm ET


PRINCETON, N.J.--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE: BMY - News) is commencing today, through its wholly owned subsidiary KB Acquisition Corp., a cash tender offer to purchase all outstanding shares of common stock of Kosan Biosciences Inc. (NASDAQ: KOSN - News). Bristol-Myers Squibb reported earlier today its intent to acquire Kosan.


Upon the successful closing of the tender offer, shareholders of Kosan will receive $5.50 in cash for each share of Kosan common stock tendered in the offer, less any required withholding taxes. Following the purchase of shares in the tender offer, Kosan will become a subsidiary of Bristol-Myers Squibb.

Bristol-Myers Squibb will file today with the Securities and Exchange Commission a tender offer statement on Schedule TO that provides the terms of the tender offer. Kosan will file today with the SEC a solicitation/recommendation statement on Schedule 14D-9 that includes the recommendation of Kosan's board of directors that Kosan shareholders accept the tender offer and tender their shares to Bristol-Myers Squibb. As previously announced, Kosan's board of directors has unanimously concluded that the merger agreement and its related transactions (including the tender offer and the merger) are advisable, fair, and in the best interests of Kosan and it shareholders.

The tender offer will expire at 12:00 midnight (New York City time) on Wednesday, June 25, 2008, unless extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The offer will be subject to customary conditions, including customary regulatory clearances and the acquisition by Bristol-Myers Squibb of a majority of Kosan's shares on a fully diluted basis.

D.F. King & Co., Inc. is acting as information agent for Bristol-Myers Squibb. Credit Suisse Securities (USA) LLC is serving as financial advisor to Bristol-Myers Squibb in connection with the transactions and will be the dealer-manager for the tender offer. Lazard Frères & Co. LLC is serving as financial advisors to Kosan in connection with the transactions. Cravath, Swaine & Moore LLP is acting as legal counsel to Bristol-Myers Squibb.

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, relating to the acquisition of Kosan by Bristol-Myers Squibb Company and the discovery, development and commercialization of certain anticancer agents. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the acquisition described in this release will receive all necessary regulatory approvals, that the acquisition will be completed, or if it is completed, that it will close by the timelines described in this release. In addition, the compounds described in this release are subject to all the risks inherent in the drug development process, and there can be no assurance that the development of these compounds will be successful, that it will ultimately receive regulatory approval, or that if it receives such approvals, that these compounds will be commercially successful. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect Bristol-Myers Squibb's business, particularly those identified in the cautionary factors discussion in Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2007, its Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Kosan. Bristol-Myers Squibb Company and KB Acquisition Corp. will file a tender offer statement with the Securities and Exchange Commission, and will mail an offer to purchase, forms of letter or transmittal and related documents to Kosan shareholders. Kosan will file with the Securities and Exchange Commission, and will mail to Kosan shareholders a solicitation/recommendation statement on Schedule 14D-9. These documents contain important information about the tender offer and stockholders of Kosan are urged to read them carefully when they become available.

These documents will be available at no charge at the SEC's website at www.sec.gov. The tender offer statement and the related materials may be obtained for free by directing a request by mail to D.F. King & Co., Inc., 48 Wall Street, New York, New York 10005 or by calling toll-free (888) 605-1958, and may also be obtained from Bristol-Myers Squibb by directing a request to:

Bristol-Myers Squibb Company

Corporate and Business Communications 
Phone: 609-252-6579

[email protected]



Contact:
Bristol-Myers Squibb Company
Jennifer Fron Mauer, 609-252-6579
[email protected]

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Source: Bristol-Myers Squibb Company