Diamonds and Dogs
11/24/14Prosensa Holding N.V. (RNA)
Prosensa Holdings is on fire today, up 63.11% to $18.66. The biopharmaceutical company saw its shares explode after news that BioMarin Pharmaceutical would buy Prosensa. The deal is worth as much as $840 million, which is a hefty price for a company that does not have a drug approved. BioMarin believes that Prosensa's Duchenne Muscular Dystrophy drug will get FDA approval in the future and become a billion dollar blockbuster. Shares of Prosensa climbed over $7.00 today and hit a new 52-week high of $18.91 intraday.
Potash Corp. of Saskatchewan Inc. (POT)
Potash of Saskatchewan stinks today, down 5.84% to $34.49. The potash and fertilizer company saw its shares fall after news that Uralkali intends to repair their mine. Urakali, a Russian company, is the largest potash producer in the world and announced that they would repair their mine in order to continue to produce fertilizer. The mine represents over 5% of the company's total production. The news seemed to scare off Potash investors and shares fell over $2.00 but are still well above their 52-week low of $30.09.