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pSivida Corp (PSDV) Gains Big on Buyout Rumor


6/19/2013 8:10:00 AM

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A blogger's speculation that pSivida might be in line for a buyout bid sends the ophthalmology company's shares up nearly 4% today to a 52-week high. Shares of ophthalmology company pSivida (NSDQ:PSDV) hit a 52-week high today on speculation from a Seeking Alpha blogger that it's ripe for an acquisition this year. PSDV shares hit $3.96 each today, a 52-week high, having gained some 15.5% since a blogger writing as "Bob's Stocks" published the rumor yesterday. According to the blogger's calculations, pSivida stands to reap revenues of $315 million annually from sales of its Iluvien drug/device combination for treating diabetic macular edema.

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