DPII

[REALDEALS21]

SOME CRAZY HUGE VOLUME !!   NO NEWS ! SOMETHING IS GOING ON !

ABOUT:

Discovery Partners International, Inc. engages in the development and provision of libraries of drug-like compounds, drug discovery services, computational tools to generate compound libraries, and testing and screening services to optimize potential drugs. Its primary services comprise chemistry services, which include the development and synthesis of a range of highly purified compound libraries that could be screened using biological assays; provision of various medicinal chemistry and other lead optimization services; drug discovery informatics; and the provision of compound repositories. The company also offers high throughput and high content screening services, as well as assay development services for various therapeutic areas, such as cardiovascular, neurology, oncology, and ophthalmology. In addition, Discovery Partners International licenses its proprietary gene profiling system, Xenometrix, which characterizes a cell's response upon exposure to compounds and other agents by the pattern of gene expression. It offers its products and services to pharmaceutical and biopharmaceutical companies primarily in the United States, Europe, Japan, India, and the People's Republic of China. The company has collaboration with Pfizer, Inc. to design and develop Pfizer's compounds. Discovery Partners International was incorporated in 1995. It was formerly known as IRORI and changed its name to Discovery Partners International, Inc. in 1998. The company is headquartered in San Diego, California.

[stocks2watch2]

News was yesterday morning,   

Discovery Partners International and Infinity Pharmaceuticals Announce Merger Agreement

April 12, 2006 07:30:40 (ET)


SAN DIEGO, and CAMBRIDGE, Mass., April 12, 2006 /PRNewswire-FirstCall via COMTEX/ -- Discovery Partners International, Inc., or DPI (DPII, Trade), and Infinity Pharmaceuticals, Inc., a private company, today announced that they have entered into a definitive merger agreement to create a new public entity focused on cancer drug discovery and development. Infinity Pharmaceuticals, Inc. operating from its current headquarters in Cambridge, Massachusetts will be the resulting NASDAQ-traded biopharmaceutical company with a lead product candidate in multiple Phase I clinical trials, a second product candidate scheduled to enter the clinic in late 2006, a pipeline of proprietary small molecule preclinical candidates, and partnerships with Novartis, Johnson & Johnson and Amgen. It is anticipated that, on a pro forma basis, cash and cash equivalents for the combined company as of March 31, 2006 would be in excess of $100 million. This will provide Infinity with sufficient funding to generate efficacy data on its lead program as well as continue to advance the remainder of Infinity's current pipeline.

Under the terms of the agreement, DPI would issue, and Infinity stockholders would receive, in a tax-free transaction, shares of DPI common stock such that Infinity stockholders would own approximately 69% of the combined company on a pro forma basis and DPI stockholders would own approximately 31%, assuming DPI's net cash at closing is between $70 to $75 million. These percentages are subject to downward and upward adjustment under the terms of the merger agreement based on DPI's net cash at closing. The merger agreement has been approved by both companies' boards of directors and will need to be approved by both companies' stockholders. Upon closing of the transaction, the new company's common stock is expected to trade on the NASDAQ National Market under the name Infinity Pharmaceuticals, Inc. for which the company has reserved the symbol, "INFI". DPI's current ticker symbol, "DPII", will become inactive after closing.

"With the financial resources provided by this transaction, Infinity will be well positioned to create substantial value for patients and stockholders," said Steven H. Holtzman, Chairman and Chief Executive Officer, Infinity. "The merger is a creative, time efficient, and cost effective means for Infinity to accelerate the discovery, development and delivery to patients of important new medicines."

"We believe that the combination of Discovery Partners and Infinity Pharmaceuticals will provide stockholders an opportunity to participate in a public company with a profile that matches the market's interest in near-term product opportunities with significant potential," said Michael C. Venuti, Ph.D., Acting Chief Executive Officer, DPI. "After an extensive review of potential merger candidates and their product pipelines, Discovery Partners identified Infinity Pharmaceuticals as an organization with the potential to create significant value for our stockholders."

Upon closing, the combined company will have a robust pipeline of product candidates and an experienced leadership team. Products in development will include:

[dennis67]

realdeals   did you buy this? i bought it at 2.64 on april 12. their is still no word on the merger  i dont no yet what the dpii holders will end up with. earnings come out thursday morning  its up 8 cents today.

[dennis67]

dpii is flat today 2.53 maybe tomorow being the day  before earning releese we will go up i wish they would at least give a date for the merger

[dennis67]

2.56  cash on  hand  is 80 milion  maybe this will make the merger worth more  they were giving figures of 70  75  milion

SAN DIEGO, May 4, 2006 /PRNewswire-FirstCall via COMTEX/ -- Discovery Partners International, Inc. today announced unaudited financial results for the three months ended March 31, 2006.

Revenue from continuing operations for the three months ended March 31, 2006 was $4.3 million, a decrease of $2.4 million, or 36 percent, compared to $6.7 million for the same period in 2005. The decrease in revenue for the first quarter of 2006 versus 2005 was primarily due to lower chemistry service revenue from Pfizer, which more than offset higher screening service revenue.

As a result of the previously announced sale of the instrumentation product lines in 2005, the Company no longer reports any product revenues and associated expenses, nor any historical operating results related to the net assets sold. These results are reported as discontinued operations.

Net loss for the three months ended March 31, 2006 was $9.0 million, or $0.35 per share, including a $3.2 million, or $0.12 per share, non-cash impairment charge associated with the write-down of long-lived assets, a $1.6 million, or $0.06 per share, restructuring charge associated with the consolidation of our South San Francisco chemistry operations, and a $0.2 million gain on the sale of discontinued operations, compared to a net loss of $4.5 million, or $0.18 per share, including a $1.0 million, or $0.04 per share, non-cash impairment charge associated with the write-down of long-lived assets and a $0.6 million, or $0.02 per share, loss from discontinued operations for the same period in 2005.

Gross margin as a percentage of revenue for the first quarter of 2006 was negative 16 percent, down from the 23 percent result in the first quarter of 2005, due to lower chemistry services volume and an unfavorable mix of revenues.

Research and development costs for the first quarter of 2006 were $1.0 million, compared to $0.6 million in the first quarter of 2005. The increase in research and development costs resulted from operating costs associated with the acquisition of the natural compound based discovery business of Biofrontera Discovery GmbH in April 2005.

Selling, general and administrative costs for the first quarter of 2006 were $3.6 million, down from $4.4 million in the first quarter of 2005 due to the absence of severance payments to our former COO and from lower staffing levels, which more than offset increased fees and expenses relating to our merger activity.

The Company recorded $1.6 million of restructuring charges during the first quarter of 2006 related to the consolidation of our South San Francisco chemistry operations into our San Diego facility compared to $0.1 million of restructuring charges during the first quarter of 2005 relating to higher than expected facility remediation costs in connection with the shutdown of our Tucson facility that we announced in 2003.

During the first quarter of 2006, the Company recorded a non-cash impairment charge of $3.2 million, representing long-lived assets at certain of the Company's operating units that are anticipated to continue to generate negative cash flows given the business strategy as of the end of the quarter. During the second quarter of 2006, the Company will continue to monitor the carrying value of its remaining long-lived assets based on the progress it makes to divest such assets. The Company recorded a non-cash impairment charge of $1.0 million during the first quarter of 2005, reflecting a partial write-down of our toxicology-based intangible assets, as the loss of a customer, due to bankruptcy, indicated a portion of the carrying value of our toxicology-based intangible asset was not recoverable.

The Company reported a $0.2 million gain on sale of discontinued operations during the first quarter of 2006, relating to the sale of our instrumentation product lines, which closed in the fourth quarter of 2005. The discontinued operations contributed a $0.6 million loss during the first quarter of 2005.

Cash, cash equivalents and short-term investments at March 31, 2006 were $80.1 million, a decrease of $3.4 million from the balance at December 31, 2005 due primarily to the net loss.

"During the first quarter of 2006, our ongoing contract drug discovery operations continued to provide chemistry and biology services of the highest scientific quality to over a dozen pharma and biotech customers worldwide," said Michael C. Venuti, Ph.D., Acting Chief Executive Officer of Discovery Partners. "However, as we have stated previously, the volume of this business, and the resulting margins we can achieve operating within a public company, have been eroded by strong price competition from offshore providers. We believe our decision to merge Discovery Partners International with Infinity Pharmaceuticals, and, concurrently, to seek to divest the existing contract drug discovery operations to a qualified organization or organizations, whether public or private, provides stockholders an opportunity to participate in a public company with a profile that matches the market's interest in near-term product opportunities with significant potential," concluded Venuti.

A

[Terliso]

Rounding Bottom coming up!!

[Terliso]

Good close

[Terliso]

Nice! Rounding Bottom Breakout!


NEWS:
Infinity Pharmaceuticals Announces Filing of Proxy Statement/Prospectus Supplement for Proposed Merger With Discovery Partners International
http://finance.yahoo.com/q?s=dpii

[Terliso]

DPII is getting ready to make a new high

$4.65 in play <---- Rounding bottom breakout

[kslifka]

I really like this one Terliso.

I wish I would have found DPII earlier...of course...isn't that always the case

DPII broke out in the middle of August then gapped up...and with the volume way above average...it appears DPII has no intention of dropping to fill that gap.

[kslifka]

This one looks really good.  Haven't bought yet. Waiting for a pullback...went parabollic in afternoon trading.

[Terliso]

DPII broke out in the middle of August then gapped up...and with the volume way above average...it appears DPII has no intention of dropping to fill that gap.

Yup, because the breakout level is @ 3.50 & never close back below $3.50 ever since

The technical target is almost there, so be careful

[Terliso]

Anybody know what happen to this stock, DPII?
I can't find any information in my broker & even yahoo, did they changed the symbol recently?

[Se7en]

DPII was delisted on 09/14/2006: Merged with Infinity Pharmaceuticals


http://investor.ipi.com/releasedetail.cfm?ReleaseID=210953

Infinity Pharmaceuticals Announces Completion of Merger with Discovery Partners International
Conference Call Scheduled for 8:30 a.m. EDT (5:30 a.m. PDT) Thursday, September 14, 2006
CAMBRIDGE, Mass. - September 13, 2006 - Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) announced today the completion of its previously announced merger with Discovery Partners International, Inc., or DPI. The newly-combined company will operate as Infinity Pharmaceuticals, Inc. under Infinity's management and will retain no Discovery Partners operations or programs. Infinity begins trading today on the NASDAQ Global Market under the symbol "INFI." The company will be hosting an investor conference call providing a business overview of the combined company and a discussion of its lead oncology programs on Thursday, September 14, 2006 at 8:30 a.m. EDT (5:30 a.m. PDT).