Street.Com – David Knott and Daniel Loeb are becoming quite a tag team when it comes to small, distressed pharmaceutical companies.
Last fall, the two hedge fund managers joined forces, or at least their shares, to push for changes in management and strategy at San Diego-based Ligand Pharmaceuticals (LGND:OTC BB – news – research – Cramer’s Take).
Now, they’re making noise about the management and strategy of Nabi Biopharmaceuticals (NABI:Nasdaq – news – research – Cramer’s Take), saying the company should consider finding a buyer.
The hedge funds’ disenchantment comes too late for a proxy fight, but the fund managers can still press their case at Nabi’s May 12 annual meeting. Nabi executives will get a chance to answer Wall Street’s questions when they discuss their first-quarter results after markets close Wednesday.
