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Stick over some of the stocks on the move today on Paul Sweeney alongside Nora Melinda, and we're joined by Bloomberg's lis Matael Lisia. What do you have for s all right?
I want to start with Sadara Therapeut It's it's ticker CDTX. Their shares have been out more than one hundred percent, so it's a biotech company that's developing a flu treatment. The big news is that Merk has agreed to buy it. It will pay two hundred and twenty one dollars fifty cents of sharing cash, a total transaction value of about nine point two billion dollars. The story behind it, though, Merk has been trying to make up for the upcoming
patent loss, especially it's cancer drug, key Truda. It's their best selling in the pharmaceutical history, account for almost half of their revenue last year, and this patent loss is going to be huge. I mean, they're expected to road sales by about eighteen billion dollars of the next five five years, so it's looking to expand the portfolio. Right in July, Mercury reed to buy respiratory drug maker for
Verona Farm. I remember that for around ten billion. So you talked about it all this trend of competitive deals in the pharmaceutical industry. It just keeps continuing. They're trying to get these new drugs.
Just love biotech stocks because you can make huge, huge returns if you're right. So if you think you have quote unquote the edge, I know something that the market doesn't, then you can really get asymmetrical payoffs, but you can also get crushed. Is a good one.
It definitely is. Now when you guys to go to get concert tickets to you go to Subhub. Ever, go to sub hub the place you go. Okay, Well, their shares are down as much as twenty two percent stu bu. They beat expectations for second quarter revenue. But it's CEO and founder Eric Baker. He said they're not giving guidance for the current quarter and investors didn't like that. They said what he said is but the company is taking
a long term approach. That's how he described it. He said the timing of when tickets go on sale it can vary, makes it hard to predict consumer demand. The company does plan to offer the ALEC for twenty twenty six when it reports fourth quarter results, so you will get it, just not now, but this is a time that it was the first time it reported coarly results since the IPO in September.
Right, Seriously, it's an unwritten understanding for an IPO. If I'm going to buy into your company and I don't know your company, but I'm buying it, I'm taking a risk. What you owe me is at least one or two quarters of good earnings. So not only did I sell all my shares and stuff up today, IPO investor, I'm trying to borrow as much as I can and short it. That's what I'm doing.
This is a yeah, I'm looking at that. The percentage in terms of float fifty six percent.
What I'm seeing on the terminal for short interest terrible. Look all right, gosh, And finally I got to hit Warner Brothers at WBD up as much as three percent. So this is in the wall stree dhow they're saying that paramount Comcast Netflix, they're preparing bids. They say there's a parent cutoff for those bits of November twentieth, and they're saying Warner Brothers hopes it to have it all
wrapped up by the end of the year. You have the Bloomberg Report that they're CEO David Zadlob they're kind of re amending his contract to make sure a stock options remain eligible to best you know, and even if it's sold. So a lot of kind of pointers in that direction.
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