Discover last month's biggest stock buybacks from the healthcare sector
May 4, 2023
Rafael Holdings, Inc. (RFL) has recently authorized a share repurchase program of up to $5 million for its Class B common stock. According to Bill Conkling, the CEO, this decision stems from Rafael's commitment to strategically deploy capital for long-term stockholder value. With a strong balance sheet and confident outlook, repurchasing the stock is seen as an attractive use of their resources. In addition, Rafael aims to leverage the business development expertise of Executive Chairman Howard Jonas to explore investment opportunities both within and beyond biopharma. The share repurchases may occur through various methods, including open market purchases and privately negotiated transactions, depending on prevailing market conditions and regulatory requirements. It's important to note that the authorization is subject to change and does not impose an obligation to acquire any specific amount of Class B common stock.
Champions Oncology, Inc. (CSBR), a leading biotech company specializing in AI-driven drug discovery, recently announced the approval of a share repurchase program. The Board of Directors has authorized the repurchase of up to $5 million of its common stock by April 30, 2024, in accordance with Rule 10b-18 of the Securities Exchange Act of 1934. This decision reflects Champion Oncology's commitment to creating long-term value for its stockholders. CEO Ronnie Morris emphasized the current macroeconomic environment and the positive prospects of their business as factors that contribute to this unique buyback opportunity. CFO David Miller expressed confidence in the strength of their balance sheet, the current valuation, and the strategic benefits of this buyback. Champion Oncology plans to evaluate the number, price, structure, and timing of the repurchases based on market conditions, liquidity needs, and other relevant factors. The stock repurchase program is flexible and subject to potential modifications or termination by the Board of Directors as needed.
nika Therapeutics, Inc. (ANIK), a global joint preservation company in early intervention orthopedics, has announced a cooperation agreement with Caligan Partners LP. As part of this agreement, Gary Fischetti has been appointed as a Class III director and will join a newly formed Capital Allocation Committee to support the review of Anika's capital allocation. The Board has authorized a $20 million share repurchase program, with $5 million to be repurchased through an accelerated program and $5 million to be purchased in the open market over the next 12 months. The remaining $10 million will be purchased subject to Anika generating positive cash flow. This buyback replaces the previous share repurchase program from May 2019. Anika aims to strategically invest in its portfolio and product pipeline while returning capital to stockholders.
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