Seagen warns in­vestors against TRC Cap­i­tal’s lat­est 'mi­ni-ten­der of­fer'; BeiGene goes af­ter a new in­di­ca­tion for top PD-1 play­er

TRC Cap­i­tal, which has se­lect­ed var­i­ous biotechs like Ver­tex and Bio­gen for the “mi­ni-ten­der” treat­ment, jumped back in­to the game last month with an of­fer to buy shares in Seagen for $151. The prob­lem, says Seagen, is that price was 4.28% low­er than what the stock was sell­ing for at the time they made the of­fer on Feb. 20, giv­ing TRC a shot at an in­stant wind­fall.

So why sell for less than what it’s worth? Seagen notes warn­ings from reg­u­la­to­ry au­thor­i­ties that these of­fers es­sen­tial­ly try to trick in­vestors in­to be­liev­ing that they’re be­ing of­fered a pre­mi­um for the stock.

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