Long trade : GLOG +20% (12/17)

Smart Global Holdings (SGH) : 7-month performance

• Earnings 12/21/17 (a/h)

Shares of SMART Global Holdings (NASDAQ: SGH) rose 10% on Friday after the specialty memory company announced stronger-than-expected quarterly results.

More specifically, for its first quarter of fiscal 2018, SMART Global's revenue climbed 67% year over year, to $265.4 million, and translated to adjusted (non-GAAP) net income of $23.8 million, or $1.05 per diluted share. Analysts, on average, were only expecting adjusted earnings of $0.92 per share on revenue of $255 million.

For its fiscal second quarter, SMART Global expects revenue in the range of $280 million to $300 million, and adjusted earnings per share of $1.30 to $1.36. Both figures handily outpaced Wall Street's consensus estimates for the current quarter, which called for adjusted earnings of $0.98 per share on revenue of $259.5 million.

Ignyta (RXDX) to acquired by Roche (RHHBY) for $1.7B

 

Roche announced Friday that it entered into a definitive merger agreement to fully acquire Ignyta at a price of $27 per share in cash, representing a premium of about 74 percent to its closing price on December 20, for a total transaction value of $1.7 billion.

• Ignyta's lead drug candidate, the oral CNS-active tyrosine kinase inhibitor entrectinib, targets tumours with ROS1 fusions in non-small-cell lung cancer (NSCLC) or NTRK fusions across a broad range of solid tumours. The company, which will continue its operations in San Diego, will be responsible for the ongoing Phase II STARTRK-2 trial of entrectinib in patients with ROS1 fusion-positive advanced NSCLC. Interim results unveiled in October showed that first-line targeted therapy with entrectinib led to confirmed objective response rates (ORR) of 78 percent and 69 percent by investigator and blinded independent central review, respectively.

IPO: March 14, 2014 

In late 2013, Ignyta completed a reverse merger with Infinity Oil & Gas Company, with the combined company focusing solely on Ignyta's business. Prior to that Ignya garnered a few rounds of venture funding, the largest of which was a $5.5 million Series B financing, which, coupled with a $500,000 capital term loan from Silicon Valley Bank, gave the company a $13 million valuation in February 2013.