Cephalon Signs Myotrophin Deal With S B C Warburg

- Betting that it will get a May recommendation for approval ofMyotrophin (mecasermin; insulin-like growth factor-1), its treatment for amyotrophic lateral sclerosis, from the US Food and Drug Administration, Cephalon has signed a deal with S B C Warburg which allows it to buy call options on 2.5 million shares of its own stock. Cephalon is trying to create a financing opportunity without diluting the value of the stock, said its chief financial officer, Kevin Buchi. The move will allow Cephalon to fill financing requirements should it need to expand production and begin marketing Myotrophin. The buyout is put at $125 million. The FDA advisory committee hearing is due on May 8.