Astex Pharmaceuticals Responds to Claims Made by Sarissa Capital
Astex Pharmaceuticals (NASDAQ: ASTX) issued the following statement in response to further misleading claims made by Sarissa Capital in a press release issued Wednesday:
We are disappointed that Sarissa Capital continues to mislead Astex stockholders with information that is incomplete, taken out of context and does not provide full and accurate information to Astex stockholders.
In a last-ditch attempt to unnecessarily delay and possibly derail the premium, all-cash transaction with Otsuka, earlier today Sarissa Capital issued a press release about a collaborators' compound, LEE011, a clinical-stage, potential cancer treatment that is being developed by Novartis. Consider these facts:
The Astex Board of Directors Considered LEE011 in its Deliberations. The Astex Board carefully considered the potential benefit and risks of LEE011 as it made its determination that the premium, $8.50 per share all-cash transaction with Otsuka was in the best interests of all Astex stockholders.
Astex has Repeatedly Discussed the Progress of LEE011. Astex publicly discussed LEE011 as recently as August 1, 2013 on the Company's second quarter earnings conference call, and provided an update on LEE011 in its investor corporate