Calliditas is an orphan drug biotech developing Nefecon as treatment against kidney failure (IgA-nefrit). Nefecon, marketed as TARPEYO, gained accelerated approval in Dec'21 and full approval with extended label to protect the kidney function in December 2023. The company has a first-mover advantage and is at least 12-months ahead of the competition.
28/5 Japanese Asahi Kasei Corporation offered 208kr per share (a 80% premium). The share price was relative low at 113kr as a result from around 7% short positions. The offer is accepted by major shareholders and due diligence started. Let's see how the share price reacts when short positions must be covered in the coming months. My target includes a opportunistic premium.